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Real estate prices to stabilize by year-end: L&T Infra CEO

Real estate prices to stabilize by year-end: L&T Infra CEO
PTI
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First Published: Tue, Feb 15 2011. 04 13 PM IST
Updated: Tue, Feb 15 2011. 04 13 PM IST
Bangalore: Real estate prices currently seeing volatility are expected to settle down and stabilize by the end of the current calendar year, an expert in the infrastructure sector said on Tuesday.
Asked by reporters if L&T Infrastructure Finance Company Limited would finance metro rail projects in the country, its CEO Suneet K. Maheshwari said the real estate component is high in them in terms of station development, among others.
He said the company is concerned by volatility in the real estate market now, adding, it expects these prices, as also interest rate scenario, to settle down and stabilize by the end of 2011.
Maheshwari said the company would then look at the possibility of financing metro rail projects.
Company sources expressed disappointment there is no action on deal flows in the telecom sector in the past few months following scandals hitting the sector, and they are keen to see a quick resolution to the issues.
L&T Infra, meanwhile, is undertaking a public issue of “Long Term Infrastructure Bonds 2011 A-series”.
The bonds issue offers benefits under Section 80CCF of the Income Tax Act, 1961, with a face value of Rs1,000 each in the nature of secured redeemable non-convertible debentures aggregating up to Rs100 crore with an option to retain an oversubscription of up to Rs300 crore for allotment of additional bonds.
“The Bonds issue will be open for subscription on 7 February, 2011, and close on 7 March, 2011, or earlier, as may be decided by the Board of the company”, he said.
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First Published: Tue, Feb 15 2011. 04 13 PM IST