Piramal Capital to restructure some ongoing projects

Housing financier Piramal Capital is working on restructuring of some of the 200-odd residential projects it has invested in, as the lockdown has severely impacted the already sluggish realty market.

The ongoing coronavirus-driven lockdown has impacted almost all economic activities, especially the real estate sector, as construction activities along with sales and collections have come to a complete halt since March 25.

"Our realty market has gone through various tsunamis in the past three years beginning with demonetisation, RERA and the GST. But today's challenge is different. The government will have to offer some package for the sector and at the same time, as investors, even we need to see what can be done to ensure to complete the projects. In addition, the developers will also have to do their bit by providing additional security," Piramal Capital Managing Director Khushru Jijina told PTI.

Piramal Capital and Housing Finance has invested in over 200 residential projects and ...