The report said that sales have picked up to 50% of pre-COVID levels and is driven by affordable and mass hosuing, while the luxury segment remains a concern.
“Disbursements in the housing finance sector are at 60–70% of YoY levels. This was basis an analysis done by MOFSL on the NBFC sector at large. The sector has witnessed a meaningful number of equity capital raises in the past two months,” the company said in the report.
Most companies have raised money largely in order to reduce leverage rather than as ‘repair capital’.
In the region wise analysis of construction status, the company said that south India has reached 80% of the construction level. Mumbai, India’s largest market has been at just 50–60% levels as the fear of the pandemic is high in migrant labor.
“15–25% of retail customers have availed moratorium; however, most of them have done so largely to conserve cash. The availment of moratorium on account of job loss or pay cuts is not meaningful,” the report said.