Monday, April 12, 2021

Fanzart & Fundermax India MD's Announce Round Up For 2020-21 And Outlook For 2021-2022

Mr Anil Lala, Managing Director, Fanzart

2020 was supposed to be an aggressive year for us as a brand, and as a company. But, we unfortunately couldn't capitalise during the lockdown but after things started opening up we were surprised at the demand especially since most people were spending more time at home. After all the uncertainty that covid brought us, lockdown proved to be a blessing for home interior products and We finished the financial year of 2020-2021 at an unexpected positive note and we are grateful for that. 

Many brands in the premium to luxury home sector have done well and we are happy to share that customers got more time to evaluate between brands , chose us and gave us the opportunity to adorn their homes with our products.

Dr Prashanth Reddy , Managing Director, Fundermax India

After demonetization, GST and RERA; the real estate industry faced a setback of almost 30 to 40% in the past. However, newer Reforms like land pooling, reduction of the stamp duty rates in some states, focus on affordable housing, etc are helping to revive the industry.

In 2021, the overall outlook is positive with a reduction in the number of unsold inventory, stalled projects starting again, and migrant labor coming back to work. 

Work from home is new normal as there is a shift in the industry from Tier 1 cities to Tier 2 and tier 3 cities. Our business expansion continues as the economy and ecosystem around are growing.

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