ncr real estate presentation
TRANSCRIPT
NCR July – December 2015
ncr residential market
yet to pick up
RESIDENTIAL
launches continue to fall;
lowest level over last 6 years
172,5
71
110,7
51
100,2
59
99,4
07
79,5
77
63,4
58
117,5
59
93,9
86
79,1
78
74,9
66
48,6
30
48,5
03
-
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
180,000
200,000
2010 2011 2012 2013 2014 2015
No
. o
f u
nit
s
Launches Absorption
Slight growth in terms of % sales,
however base remains low
compared to preceding years
92,6
11
43,0
76
57,7
17
36,9
89
45,0
00
34,0
00
64,0
97
40,4
33
44,9
79
29,6
90
20,6
30
23,8
00
-
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
H2 2010 H2 2011 H2 2012 H2 2013 H2 2014 H2 2015
No
. o
f u
nit
s
Launches Absorption
Premium market under pressure –
Noida pushes premium market from
bad to worse
4 5 5 6 6 6 7 8 8 9 9
11 12
13 15
17 17
5 5 5 4 4 4 4 5 5
7 8
10
14 15
25
28
31
8 8 9 10 10 10 10 11 10 11 11
12 14
15 16
17 18
0
5
10
15
20
25
30
35
Qu
art
ers
to
sell
NCR Premium markets Budget
UNSOLD INVENTORY PRESSURE
LAUNCHES Consistently down across
all micro markets
-
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
50,000
Delhi Faridabad Ghaziabad Greater Noida Gurgaon Noida
H2 2010 H2 2011 H2 2012 H2 2013 H2 2014 H2 2015
MICRO-MARKET SPLIT OF LAUNCHES
Marginal uptick in sales in H2 2015,
however sustainable recovery still
under question Only H2 since 2011 for only central and south mumbai
-
5,000
10,000
15,000
20,000
25,000
30,000
Delhi Faridabad Ghaziabad Greater Noida Gurgaon Noida
H2 2010 H2 2011 H2 2012 H2 2013 H2 2014 H2 2015
MICRO-MARKET SPLIT OF SALES
KEY TAKEAWAY
leanest year of new
launches since 2010, while
sales showing marginal
increase from H2 2014
NCR office absorption holds
steady
Office
Pent up new completions hit the
market
12
.6
9.6
7.0
8.1
11
.5
7.2
6.4
6.6
7.6
7.4
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
2011 2012 2013 2014 2015
mn
sq
ft
New completions Absorption
YEARLY OFFICE MARKET TRENDS
42% growth
Influx of new office space in 2015
nudges vacancy levels to 22%
HALF YEARLY OFFICE MARKET TRENDS OF STOCK AND SUPPLY
122
126
132
138
96
.5
101
104
108
21%
20% 20.7%
21.5%
15%
16%
17%
18%
19%
20%
21%
22%
23%
0
20
40
60
80
100
120
140
160
H1 2014 H2 2014 H1 2015 H2 2015
Mn
sq
ft
Stock Occupied Stock Vacancy (RHS)
Half yearly absorption levels faring
well since 2011
HALF YEARLY OFFICE MARKET TRENDS
6.3
6.0
3.5
4.1
6
3.2
6
3.0
3.2
4.1
3.7
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
H2 2011 H2 2012 H2 2013 H2 2014 H2 2015
mn
sq
ft
New completions Absorption
rentals look up with lack of
quality office space in key
locations
WEIGHTED AVRAGE PRICE RENTALS
53 53
52
53
56
58
62
64
50
52
54
56
58
60
62
64
66
H1 2012 H2 2012 H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 H2 2015
INR
/sq
ft/
mo
nth
11% growth
KEY TAKEAWAYS
Office absorption holds
steady in 2015
upward movement on
rentals due to lack of
quality supply