As sales DIP, realtors go after the super rich

As customers in premium, luxury and super luxury segment are not sensitive to rate hike, companies try to compensate the drop in sales volume of mid-segment houses through this kind of launches. So, it provides us a cushion against any possible drop in sales in mid-market segment," L S Vaidyanathan, executive director of Nitesh Estates said. He also said the company was planning to launch two to three projects in the premium segment in the next two quarters. So, it provides us a cushion against any possible drop in sales in mid-market segment," L S Vaidyanathan, executive director of Nitesh Estates said. He also said the company was planning to launch two to three projects in the premium segment in the next two quarters. Subsequently, sales volume of Realtors have dropped in the recent time as home buyers defer their decision to own homes in a high interest rate environment. This phenomenon is prominent in the mid-market segment where homes typically range from Rs 25 lakh to around Rs 55 lakh. Rather, our focus is on premium segment to protect margin level," Vaidyanathan said. We will have little impact due to the interest rate hike," he said. We don't see any impact on profitability in this kind of environment," he added. Realtors