Real estate sector looks promising again post Covid 19.

- Anuraj Antil, Managing Director, Kronus Infratech

We need an act like RERA in the infrastructure business especially to safeguard interests of sub-vendors or sub-contractors who are the major force in the country. Says Anuraj Antil, Managing Director, Kronus Infratech.  Excerpts from the interview…

How do you rate your successes so far and also brief us on the core strength and competencies?

We would rate our success pretty decent; we have clocked a turnover of 22crore in 6th year of establishment without any external funding. We are also loan or debt free company.

What has been the impact of the pandemic on the real estate sector?

Pandemic had a major impact on our cash flow the payments from principal contractors halted for 5-6 months. We were able to sustain the pandemic with our mining operations in Rajasthan which helped the cash flow nominal even after pandemic.

Is there any green shoots on these sectors and what do you think the growth drivers will be?

There are many positive developments in this sectors and growth prospect are really bright. Growth of real estate is very high across the entire segment especially in residential and office space this sector is most globally recognised sector.

What are the major challenges these sectors are facing and what are your suggestions to iron out these issues?

The major issues sectors are facing are the dependence on principal contractors and bigger companies. Vendors dependency and control on contracts is the same situation like prior situation with builder and flat buyers before RERA. So we need an act like RERA in the infrastructure business especially to safeguard interests of sub-vendors or sub-contractors who are the major force in the country.

We need an act like RERA or a very strong association to help startups or new establishment in the construction industry.

How does the scenario look like in terms of investment in real estate and power sector?

Real estate looks promising again post Covid 19 as it brings the sense of security with the investment. We personally seeing lot of people again eyeing on residential and commercial real estate as their first preference of investment.

Could you brief us on the current order book and how do you expect the future growth prospects?

Currently we are working for ShapoorjiPaloonji - ITPO project as vendor for granite installation and supplier worth 1.5 crore.

Tata Smart city - Gurugram . We are the vendors for civil foundations of underground electrical wiring.

Valecha Engineering - we are sub-contractor for RAPTI canal project from 0-5km at UP irrigation project which is worth 100crore project.

Independent granite and sandstone mining projects in Rajasthan in Bhilwara and Rajsamand district.

Independent Residential project of 400 sq yard each floor in south Delhi - build and sell.

Please tell us about your roadmap post Covid era?

Post Covid we are focusing on independent projects of residential floors and mining which gives us 100% control over the projects.

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