Macquarie’s report on LIC HF Builder Loans based on Propstack data

Macquarie did a deep dive into LIC Housing Finance developer loan book based on Propstack Loans data. Below are some of the charts which show the analysis that is possible using Propstack data. Yearwise loan sanctions & interest rate trends Moratorium period analysis Concentration/Diversification of portfolio across builder groups and cities Top Developer groups/borrowers LRD… Read More »

Lenders seek higher security cover for funding real estate developers

Our analysis of security cover of developer loans shows that lenders are seeking higher security from developers in the backdrop of rising risk. Some key takeaways: Security cover has been rising since 2017 when it was 1.55 X to 1.66 X in 2020. This is inline with the rising risk associated with the sector. The… Read More »

Early trends based on post lockdown sale registrations in MMR

We analysed early trends emerging from ~600 sale registrations available for 275+ projects in post lockdown period (May-June 2020) in MMR (Mumbai, Navi Mumbai, Thane).  Some of our key findings are: * 70% of the projects saw a price decline 41% of the projects showed a decline of 0-5% and 14% of the projects showed… Read More »

63% of sale transactions in MMR were at a 20%+ premium to ready reckoner rates

We did an analysis of ratio of sale value to ready reckoner value for 38,000 sale transactions in MMR for the period April 2019 to March 2020. We got this data from the Index 2’s which are a publicly available document. You can actually see individual transactions in any project on Overall MMR We… Read More »

Fintech lenders have active sanctions of ~INR 5,300 crs from banks/lenders

Lending fintech NBFCs have grown aggressively in the last two years as they have gone after markets which were traditionally unbanked and were able to raise a combination of equity and debt funding. We analysed borrowings of leading Fintech players in the country basis the charge filing data available on MCA which we collate in our product Loanfeeds. In… Read More »

RBI’s move to benefit US$6 bn worth of loans sanctions to real estate developers; 50% of this is from HFCs

In a big boost to project loans in the commercial real estate sector, the Reserve Bank of India on 6th Feb 2020 announced its decision to extend date of commencement for these loans by a year without downgrading asset classification. Propstack estimates that moratorium period for ~US$ 6 bn (INR 41,884 cr) of loan sanctions… Read More »

INR 1,500 cr required to complete stalled last mile projects in MMR; 55,000 buyers may get relief if these projects are completed

The Union government announced the setting up of the INR 25,000 cr AIF to revive the stalled projects across the country last week. We at Propstack did a detailed analysis of 10,000+ RERA registered projects in MMR to get an understanding of the projects which are stalled (<5% progress in last 2 years) and are… Read More »