An unfinished property development in Wish Town, a project by bust developer Jaypee Infratech Ltd., is seen from the balcony of a nearby development in Noida, Uttar Pradesh, India. Photographer: Prashanth Vishwanathan/Bloomberg)
Valuation models for diversified, listed real estate developers are evolving because of their revenue model comprising annuity and outright cash flows, according to Murtuza Arsiwalla.For companies operating in the residential, commercial and hospitality space and even owning land banks, each of these segments could be viewed as a different business, Arsiwalla, director at Kotak Institutional Securities, told BloombergQuint’s Niraj Sh...