Indian developer moves into luxury property
With an eye on falling profit margins one of the country’s largest property developers has decided to switch to building luxury properties in India.
Following reports of a six year low profit margin DFL Ltd. Recently announced its intention to move away from affordable housing projects and instead build homes for the wealthy Indian property buyer.
According to financial reports the company have posted declining profit levels for the last four years. DFL Ltd have been involved in the affordable home construction industry based in the south of the country and with the rising cost of materials profits margins have narrowed considerably – this type of house construction will be phased out within the next few years.
The developer believes the market for luxury property in India has grown and their aim is to produce a quality product in the medium to upper end of the market and hope that bigger sales will result in higher profit margins.