Over 50 years, with 62 projects and approximately 9 million sq ft under development, this powerhouse says it has won the trust of 10,000+ customers. It not only creates premium residential and commercial projects but also delivers novel experiences driven by its philosophy of ‘Let’s Outdo’. Its footprint spans Pune, Goa and Bengaluru and it has also entered the international market with projects in California, thus creating a global presence. Currently, it has four ongoing projects in the US market. R Srinivasan spoke to Rohit Gera, Managing Director, Gera Developments, to know more about the company’s strategies to ensure timely delivery, the current role of artificial intelligence (AI) in the construction segment and the company’s expansion plans for 2024. What strategies has the company employed to ensure timely delivery? Many aspects are needed to ensure delivery of projects on time. The most critical of these is to ensure financial closure. RERA mandates that the money from sales proceeds must go into the escrow account; however, if sales are inadequate, the project can slow down for want of capital. Our corporate credit rating is AA-. This is among the highest in the country. This ensures we have access to capital as and when needed for our projects. It is important to ensure all approvals are in hand. Taking short cuts can lead to work progress being affected. Compliances are critical across all areas, including environment. Finally, with funds and proper approvals, partnering with competent contractors, architects and consultants will make sure the project gets built in time. In 2024, RBI’s interest rate hikes to combat inflation may lead to higher home loan rates dampening demand. Your views. At present, inflation seems to be under control and we are likely to enter a benign interest rate environment. However, if there is an increase in interest rates, there will be an impact on affordability and some customers will look to either defer their purchases or reduce the size of homes they are looking to buy. As a reputed developer with a delivery track record, when the market slows down, customers look for safe developers to buy from. Please comment on the current role of AI in the construction segment. Currently, the use of AI in construction is extremely nascent. The cost of building AI models for specific uses for companies is high. However, the AI revolution has just started. We will see much more AI in the construction sector in the future. What are the company’s expansion plans for 2024? Our project pipeline for 2024 is robust. We expect to have above 10 million sq ft of area under development by the end of 2024.