Shapoorji Pallonji Real Estate will ride out the crisis: CEO Gopalakrishnan

We hope to achieve 70% of sales capacity in 6 months, says Venkatesh Gopalakrishnan, chief executive at Shapoorji Pallonji Real Estate

Venkatesh Gopalakrishnan, chief executive at Shapoorji Pallonji Real Estate, tells Raghavendra Kamath that the Covid-19 crisis is expected to accelerate consolidation among realty players. However, he says the company will ride out the crisis, and that there will be no job or salary cuts at the firm. Edited excerpts:

How has the lockdown impacted your business?

Sales is not zero. Since April we have sold over 100 apartments, which is 25-30 per cent of what we do usually. Normally, we sell 150-200 apartments in sustenance sales (sales from existing projects) but are now selling 50. Sales are slowly picking up. It will