Dependency on the performance of the real estate market in South India
Continuing impact of the COVID-19 pandemic
Key developments geographically concentrated in key cities in South India
Delay in completing the ongoing projects, projects under development, and/or forthcoming projects.
Increase in price, shortage, or any disruption in the supply of raw materials or labor
Dependence on independent contractors for executing the projects
Capital intensive business and depends on the availability of real estate financing in India
Outstanding legal proceedings involving the company, subsidiaries, directors, group companies, and promoters
Around 22% of the company’s estimated saleable area is located in Kolkata increasing the risk of concentration in one city
Title and development rights or other interests over land may be subject to legal uncertainties and defects
Changing laws, rules and regulations and legal uncertainties, including the withdrawal of certain benefits or adverse application of tax laws in the Indian real estate sector
Property tax rates
Timely receipt of approvals and permits
Difficult to assess the growth rate since the revenues fluctuate from period to period
Dependence on a few projects for a significant part of the revenue.