 "The construction cost for developers has gone down with projects being completed within the timeframe, a source said")
New project announcements aren’t as plentiful as they once were. The June quarter is an example. Due, it appears, to low capacity utilisation and fundamental changes in some segments that had previously contributed in a big way to such announcements.
Which means the September quarter numbers will be key for hope of an investment cycle pick-up. Headwinds in the period afterwards makes a pick-up difficult after this quarter.
The value of new project announcements in the three months ending June dropped 33.4 per cent over the previous quarter to nearly Rs 2.3 trillion, shows data from Centre for Monitoring Indian Economy (CMIE).
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