The 10 Most Admired Real Estate Tycoons

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ABOUT THE AUTHOR Shobhit Agarwal is the MD & CEO at ANAROCK Capital. He has been a protruding deal-maker in Indian real estate markets for more than two decades now. His team of capital markets consists of well-honored industry experts who have been part of handling multimillion-dollar capital mandates. Shobhit has added a feather in his crown of success by trading capital in excess of US$ 10 billion in his previous assignments. Shobhit Agarwal MD & CEO ANAROCK 36 December 2018
The NBFC Expert’s Opinion – What, Why Real Estate Crisis and What Next? BFCs account for over 50% of total developer Nfinancing - close to INR 4 trillion in Fy2018 • Real estate has already exhausted over 75% of available credit • Consolidation of not only developers but also NBFCs on the cards As an alternative to the main banking sector, Non-Banking Finance Companies or NBFCs have had few peers, which makes the perfect storm that has gathered around them now all the more worrisome. What ARE NBFCs anyway? NBFCs are financial institutions that are essentially engaged in the business of providing loans and advances primarily to retail customers. Unlike the formal banking sector, they cannot accept deposits from the public; they depend solely on wholesale lending and banks for their operations. Two-wheeler loans, consumer durable loans, gold loans, vehicle finance and loan against property are the segments where NBFCs have a very strong presence across the country and enjoy a much larger share than the public sector banks. Which sectors do they fund? After agriculture, the MSME sector is heavily dependent on NBFCs for loans and working capital. Since banks cannot be present in every nook and corner of the country, NBFCs have capitalized on their highly localized presence to grow their business on the back of strong rural demand and the thriving SME and MSME sectors. Their local network and understanding of customer profiles at a local level give them an edge over the banks when it comes to lending at the micro level. Due to these advantages, NBFCs could rapidly scale their businesses where the formal banking system was slow in lending. Also, the rising Non-Performing Assets (NPA) crisis in the overall banking sector made banks reluctant to lend to the perceived riskier sectors like SME and MSME, thus helping NBFCs to gain market share. Real estate, also considered a high-risk sector, depended heavily on NBFC funding as well. December 2018 37
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The 10 Most Admired Real Estate Tycoons

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