Navigating Uncertainty: Business Strategies in the Indian Real Estate Sector amid the Pandemic

Abstract

Companies follow generic plans to survive and grow whereas they adopt specific strategies to fit with the environment. The unprecedented pandemic arising out of the uncertain macro-economic environment and had an adverse impact on the real estate sector. This study delves into the unique strategies adopted by four leading companies to match environmental dynamism. This case study is based on secondary data. The information of the paper is primarily supported by the annual report of the company, the interview of the management, their presentation in investor meets. The strategy adopted by DLF was conservative and short-term focused, in contrast to the aggressive and long-term focused strategy of Godrej Properties. Oberoi Realty almost maintained status quo in its business operations, whereas Prestige Estates adopted an innovative strategy of generating cash by selling stake in many subsidiaries using which it purchased properties and projects at discounted prices. Even while operating in the same macro environment setup, a company's successful strategy may not be appropriate for all business models. Each business entity is distinct since they each have a separate set of strengths and weaknesses. This paper aims to argue that the strategy is business-specific. Any effective business strategy of a company, though, might be modified and tailored to fit into another company with due care.