10 September 2019 | BRIDGE TO INDIA
Last week, we stated that investor interest in the RE sector has fallen sharply in the last 12 months. In the wake of increasing costs and execution risks, difficulties in getting debt financing and delinquent DISCOMs, the developers are finally saying no to new tenders. The number of active bidders has declined from more than 200 in 2015 to just 30 in H1-2019. We view this as formal end of the 2.5 year bull run in the RE sector.