GROUP RELATED NEWS
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| Experts from CNBC-TV18's exclusive interview with Urvi Piramal |
The Supreme Court verdict on mill land. Is that going to have any impact
on you, or any help in identifying lands, properties for development?
'We have three mill properties, which we are developing at the moment. This ruling
is very positive for us. Under these three mills, we have 30 lakh square feet
that we are developing. We have been waiting for this judgment for a long time.
I think the SC has given a very progressive judgment and we are very happy. Now
we are looking at going ahead with developing all these properties.
In terms of number of stores, what is the target that you have for the next
six months?
We expect to open four mega stores in the next six months.
We hope to open another 10 super markets in the Pyramid Retail. Retail infact,
is a volume game and we need to build volumes in critical size and critical mass.
That is what we are doing today.
How do you see the Supreme Court
verdict affecting the land prices going forward? What is the market value of land
under your possession at the moment?
It is not like that the judgment
is here today and all the development will happen tomorrow. It takes some amount
of time before all the development really comes into the market for sale. Also,
there are different asset classes in which this land will be developed. Some of
it will get developed in the residential, commercial, in IT park. It is going
to be spilt , so I do not see a major impact in terms of prices, I do not see
them going too high. I do see a stabilization of all the prices going forward.
Source: CNBC-TV18
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