New Delhi: Buoyed by the recovery in the real estate sector, realty giant DLF on Thursday said it will hire people to sustain growth of the company.
The country's largest realty company had trimmed staff count last fiscal due to the slowdown.
"We are a growing company, we will be hiring people. Nothing very unusual about it," DLF Chairman K P Singh told reporters here on the sidelines of Assocham function.
He, however, declined to give details such as the number
of people DLF planned to add and the timeline for it.
"Hiring is a process, which always keeps on happening.
Some people go and some people come," he added.
In the 2008-09 fiscal, DLF's headcount was down by 818
people to 2,882 as on March 31, 2009, from 3,700 exactly a
year ago, a drop of 22.1 percent.
Singh, last November, courted controversy when he
admitted to laying off of staff only to make a U-turn later.
Asked if the recovery in the real estate sector has
picked up speed, Singh sounded a cautious note.
"This is gradual and is happening (but) it is too early
to say anything. The recent Reserve Bank policies will have
certain effect on this issue but the fact is, this real estate
demand growth will commensurate with GDP growth," he said.
Singh said RBI should not tighten norms further after
raising the requirement for banks to keep the money aside
while lending to commercial real estate from 0.40 percent to
one percent on Tuesday.
"I hope they don't tighten up more. Let the growth be
stabilised, so far it is not stabilised," he said.
Commenting on sales situation in the sector, Singh said:
"It is a slow growth. It is a gradual growth. I don't think it
is going to jump very suddenly.”
He also said prices are expected to rise. "When market
grows, the prices also tend to grow. But generally we don't do
for the heck of doing it."
Bureau Report
First Published: Thursday, October 29, 2009, 18:01