🧵 1. Net debt of top 8 listed developers in India reduced by 43%, from INR 405bn in FY20 to over INR 230bn in FY23. #finance
🧵 1. Net debt of top 8 listed developers in India reduced by 43%, from INR 405bn in FY20 to over INR 230bn in FY23. #finance
🧵 2. Boosted sales and revenues drove the decline in net debt for developers, indicating a comfortable financial position.
🧵 3. Despite periodic interest rate hikes, the cost of debt remains lower than pre-pandemic levels for large and listed developers.
🧵 4. Confidence of homebuyers in projects by top 8 developers is increasing, with healthier financial books and values.
🧵 5. Market share of large developers, both listed and unlisted, has nearly doubled from 17% in FY17 to 36% in FY23.
🧵 Read more at: https://www.financialexpress.com/money/listed-developers-cost-of-debt-shrinks-to-9-in-fy23-from-10-3-in-fy20/3173951/