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National: New Markets open for Hiranandani brothers

The reputed Hiranandani Construction Pvt. Ltd. with a strong real estate footing in Mumbai looks to explore new territories with the two Hiranandani brothers, the elder sibling Niranjan Hiranandani who is the Co-founder and Managing Director of the Hiranandani Group and his younger brother Surendra Hiranandani. While Hiranandani senior has invested in land in Pune and Ahmedabad while Hiranandani Junior, who is the founder and managing director of his own firm, the House of Hiranandani (HOH) is prepared to launch his first redevelopment project in Mumbai. HOH which primarily has a strong bearing in Bangalore and Chennai has a number of new launches in its pipeline. This includes a high end residential project in Bangalore and additional phases to existing projects in Chennai.

 

Favista’s view: Given that in the last quarter of 2012, there has been a high demand for affordable housing from both home buyers and investors, it would be lucrative for Hiranandani Constructions to use its land parcel to launch such a project. However, it remains to be seen whether brand Hiranandani is willing to offer such an option to prospective buyers in its new market. In Pune, where in the last quarter there seems to have been an oversupply of new residential options, it is best for the company to wait and access the market condition. In Chennai, fewer launches saw high capital increase. This makes new phase a good idea for HOH. As for Bangalore, it seems that HOH will fair well here too.

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