This means, in a horizon of five years, MLDL might be building flats or apartments targeted at the middle-income group. Though the group’s current focus is firmly on luxury and premium properties, the company is keenly watching these lower segments. “We are currently studying the opportunity, and we believe that is where the growth will come from,” Pawan Malhotra, MD and CEO, MLDL told reporters.
The tie-up with BEBL would be expanded to future projects and at the same time, MLDL would be open to other similar tie-ups in construction technology that would enable them to bring their costs down. “While most sectors in India have constantly upgraded their technological capabilities, real estate firms have lagged behind. We feel that is where the costs can be brought down by at least three to seven per cent,” Malhotra added.........
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