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<ul><li><a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink">Global Trends Festival</a> is one of the world's most prestigious events which will be live from Oct 19-23.</li><li>While nobel laureates, some of the biggest political and corporate icons will provide thought leadership, it's a great platform to network with CXOs from around the world.</li><li><a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink">Global Trends Festival 2020</a> is presented by <a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink"></a><a href="https://aws.amazon.com/" data-type="tilCustomLink">AWS</a>.</li><li>Get your tickets now from <a href="https://in.bookmyshow.com/events/business-insider-global-trends-festival/ET00137578" data-type="tilCustomLink">BookMyShow</a>.</li></ul> A young chartered accountant from London had a plum job with Chase Manhattan when his charismatic uncle HT Parekh who was starting a new mortgage company which provides housing loans to middle class Indians. Back in the late 70s, it was almost impossible for salaried Indians to take home loans, which are now available before ‘coffee gets cold’. The Parekhs had taken what was considered impossible and turned the business of housing loans into a profitable business, but also opened up new vistas for the real estate sector. Ever since Housing Development Finance Corporation (HDFC) has turned into an institution which spun off a bank in 1994, one that is today the country’s biggest private bank. HDFC itself ventured into various businesses like insurance, asset management, mutual funds and in each of the businesses that they’re in, they’re amongst the top few. It’s 75-year old Chairman Deepak Parekh is a doyen of the country’s financial industry and earned himself the reputation of ‘trouble shooter’ in chief. Mumbai’s financial community can’t be tired of narrating legends about his role in the efforts to save and revive scam-tainted companies like Satyam Computers and UTI. Best amongst equals In Parekh’s own words, every business that he gets into, he wishes to be amongst the top three institutions or not be in it at all. He chose both organic and inorganic routes to achieve this. As India battles the pandemic, Parekh is one of the few voices that provide a ray of hope. In an interview with Shekhar <a href="https://theprint.in/theprint-otc/indian-economy-will-be-booming-by-next-august-worst-behind-us-hdfc-chairman-deepak-parekh/474497/">Gupta of the Print</a>, he said that India would see positive growth by next year. He also believes that India will do better than limp back to its pre-Covid days - which was slow even back then. He is also on the board of several leading corporations across diverse sectors. He is the non-executive chairman in India of Siemens Ltd. He is also on the board of National Investment and Infrastructure Fund (NIIF). It will also be worth noting how he sees this recovery playing out, and what India needs to do to recover from the current trough. Join us at the <a href="https://trendsfestival.in/" data-type="tilCustomLink">Global Trends Festival 2020</a> between October 19-23 from wherever you are. SEE ALSO: <a href="https://www.businessinsider.in/business/news/india-has-its-eyes-and-hopes-pinned-on-adar-poonawalla-the-worlds-biggest-vaccine-maker-who-will-be-at-gtf-2020/articleshow/77977949.cms" data-type="tilCustomLink">India has its eyes and hopes pinned on Adar Poonawalla⁠⁠— the world’s biggest vaccine maker who will be speaking at the Global Trends Festival 2020</a> <a href="https://www.businessinsider.in/business/news/meet-vani-kola-managing-director-kalaari-capital-the-unicorn-hunter-at-global-trends-festival-2020/articleshow/77999658.cms" data-type="tilCustomLink">Meet Vani Kola, the unicorn hunter, at Global Trends Festival 2020</a> <a href="https://www.businessinsider.in/international/news/reed-hastings-to-speak-at-the-business-insider-global-trends-festival/articleshow/77550576.cms" data-type="tilCustomLink">Reed Hastings to speak at the Business Insider Global Trends Festival</a>

Deepak Parekh, a legend from India’s financial capital, must be on your watchlist at Global Trends Festival 2020

<ul><li><a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink">Global Trends Festival</a> is one of the world's most prestigious events which will be live from Oct 19-23.</li><li>While nobel laureates, some of the biggest political and corporate icons will provide thought leadership, it's a great platform to network with CXOs from around the world.</li><li><a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink">Global Trends Festival 2020</a> is presented by <a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink"></a><a href="https://aws.amazon.com/" data-type="tilCustomLink">AWS</a>.</li><li>Get your tickets now from <a href="https://in.bookmyshow.com/events/business-insider-global-trends-festival/ET00137578" data-type="tilCustomLink">BookMyShow</a>.</li></ul> Asia is not just the centre of the pandemic, it also has the potential to be the epicentre of the recovery that follows. Therefore, there is a need for a platform for thought leadership and Business Insider is providing just that. And that is exactly what Business Insider’s Global Trends Festival (GTF) is. One of the most high-profile international stages, GTF has gone virtual for the first time. "Long before 2020, ideas from the West have recognized that for their missions to be genuinely global they needed to have special resonance in Asia and the East. I'm delighted to have seen Business Insider lean into India and beyond for years and am proud of the role we at Times Bridge have played in helping them inform and engage new audiences," said Rishi Jaitly, the CEO of Times Bridge (Business Insider’s partner in India). The event which will be held between October 19-23 will host eminent speakers like Reed Hastings, the CEO of Netflix; Nobel laureate Nouriel Roubini, Professor at Stern School of Business; Sebastian Thrun, the CEO and Founder of Udacity and the Founder of Google X; and many more. <div type="image" title="Trends themes" msid="77978371" hostid="261"></div> The Asia stage of the event, too, boasts of a sparkling lineup of guests with an eclectic mix of experts like pharma billionaires, top bankers and startup founders. Arguably, one of the most important personalities in India right now, Adar Poonawalla, the CEO of Serum Institute of India will be speaking at the GTF. His company is working on a Covid-19 vaccine, which is currently in the human trials phase. An icon in Indian financial markets, Deepak Parekh, the chairman of HDFC, one of India’s oldest housing finance companies, will also be there sharing his experiences from past disruptions. Vani Kola, the charismatic investor behind some of India’s biggest unicorns and Prashant Chandrasekhar, the inspiring Bengaluru boy who went on to become the CEO of an American company, Stack Overflow are also among those to watch out for. The names of many more iconic leaders from India will be revealed in the days to come. “Trends Festival is unlike any other virtual event for the sheer size, scale and reach. While the speakers will offer insights and inspiration, there will be many CXOs who are decision makers in their own right. GTF will allow you to network with the best in business, halfway across the world, from the comfort of your home. We are putting together the platform for those who believe in seizing the opportunity,” said Sriram Iyer, Editor of Business Insider India. SEE ALSO: <a href="https://www.businessinsider.in/business/news/largest-global-event-in-2020-trends-festival/articleshow/77461047.cms">Business Insider's Global Trends Festival is coming to India — and it's gonna be huge!</a> <a href="https://www.businessinsider.in/international/news/reed-hastings-to-speak-at-the-business-insider-global-trends-festival/articleshow/77550576.cms">Reed Hastings to speak at the Business Insider Global Trends Festival</a> <a href="https://www.businessinsider.in/international/news/nouriel-roubini-to-speak-at-the-business-insider-global-trends-festival/articleshow/77721282.cms">Nouriel Roubini to speak at the Business Insider Global Trends Festival</a> <a href="https://www.businessinsider.in/international/news/ozy-ceo-and-cofounder-carlos-watson-to-speak-at-the-business-insider-global-trends-festival/articleshow/77916562.cms">Ozy CEO and cofounder Carlos Watson to speak at the Business Insider Global Trends Festival</a>

The leadership from Asia, and India in particular, will be at the heart of Global Trends Festival 2020

Mumbai, Apr 14 () With the ongoing lockdown now extended till May 3 and uncertainty over economic recovery, demand for housing is expected to be muted as buyers may choose to postpone their decisions, analysts said. Due to the nationwide lockdown, construction activity has come to halt as supply chain for obtaining construction material has been disrupted and labour workforce have migrated to home states in search of alternative sources of livelihoods. "In 2020, post lockdown, the residential housing segment is expected to see muted demand as buyers may choose to postpone their purchases as they shall become more risk averse in the medium term. As a result, sales and collection is expected to get impacted adversely," ratings agency Care said in a report. The agency noted that due to lower collections anticipated, especially in Q1 FY2021, the construction progress for projects with high dependence on customer advances may get hampered in the short to medium term. Echoing the views, ratings agency Icra said committed collections receivable from already booked sales are also likely to get impacted, given that mile-stone based payments may get deferred and some buyers may delay payments on account of economic uncertainties. "Projects catering to the business, NRI and investment communities, where purchases tend to be largely self-funded, may witness a more significant disruption in collections. "Less disruption would be expected in the home loan funded segment, although in some cases, pay cuts may lead to re-evaluation of buyer credit profile by HFCs, thus impacting incremental disbursements," Icra's Mahi Agarwal said. On the supply side, Agarwal said new launches are likely to get deferred, not only due to operating issues, but also due to increasing economic uncertainties and likely moderation in developer inflows. "For ongoing projects, execution has been getting hampered due to reduced labour force presence and raw material supply chain disruptions attributable to lock-downs on non-essential services and contagion fears," she added. Thus, overall project development timelines and costs are likely to increase, though some cost savings on account of the prevailing decline in commodity prices are likely, Agarwal said. "Notably though, RERA guidelines provide for a one-year extension in project execution timelines, in case of events beyond promoter control. Thus, regulatory risks are reduced in the case of a short-term disruption," she added. Care Ratings' Amod Khanokar opined that in the wake of COVID-19 situation, price points are expected to soften for developers desperate to sell their inventory. "However, this would again depend upon location and type or segment of individual projects and the builder's financial flexibility which will be demonstrated in its ability to hold on to the inventory in such times. Luxury projects which have shown lower sales growth are likely to be impacted more," he said. HDFC Chairman Deepak Parekh on Tuesday said property prices may witness up to 20 per cent correction in the wake of the coronavirus pandemic. Care Ratings further said that disbursement of new loans or refinancing risks have increased as housing finance companies, NBFCs and banks become more selective and tighten their disbursements criteria to developers. According to Icra, the retail real estate segment is directly impacted due to ongoing nationwide lockdown and resultant closure of malls. "With rental expenses forming a sizeable share of 12-16 per cent of revenues for retailers, all tenants are likely to negotiate for waiver or rebate of the rentals for the closure period. Even after resumption of operations, the footfalls are expected to be muted, therefore, the financial position of the tenants will continue to be stressed. "Resultantly, the rental income of the mall operators, which also comprises a portion of the revenue share, is expected to be significantly impacted," Icra's Anand Kulkarni said. On the impact on commercial real estate, Care Ratings said office space leasing which was one of the booming sectors having attracted majority of funds from the private equity players in the past, is now expected to experience slowdown. "This is largely in the co working space owing to surge in 'work from home' option by various industry players as they would look to optimise their cost and potential change in user habits as majority of demand is driven by the IT/ITES industry. As a result, rentals are expected to soften or stabilise in the co-working space owing to lower demand," the agency said. PSK ABMABM

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Deepak Parekh, a legend from India’s financial capital, must be on your watchlist at Global Trends Festival 2020

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The leadership from Asia, and India in particular, will be at the heart of Global Trends Festival 2020

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Lockdown: Housing demand expected to remain muted, say rating agencies

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