Rising steel prices put pressure on the margins of real estate companies

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Mumbai, Ta. 07 January 2021, Thursday

Rising prices of steel products used in the construction sector could put pressure on the margins of real estate companies. Real estate companies are currently trying to reduce their inventory as inventory has increased in the Corona era and therefore they are not in a hurry to raise any prices at present.

"Instead of passing on the rising burden of steel products to consumers, we are lifting it," said the CEO of a real estate company. The price hike is putting pressure on margins at five to six per cent.

The rise in steel prices comes at a time when the property market is recovering from the Corona effect and demand for housing has begun to improve at a slower pace.

Prices of steel or TMT rods for construction have gone up by 5 to 20 per cent compared to the previous level. Demand in the real estate market may have picked up but prices are under pressure, said a property consultant.

Demand for housing has been on the rise for the last two-three months due to the reduction in lenders as well as relief in stamp duty and attractive offers from builders.

Demand for housing is currently high in the property market, but demand for the commercial and industrial sectors is still sluggish. Higher steel prices will force builders to move slower into new projects, he added.

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