At the ASSOCHAM Real Estate Conference 2025, held under the theme “Ideate. Innovate. Impact. — Unlocking Sustainable Growth,” industry leaders came together for a candid panel discussion on the forces reshaping India’s real estate and infrastructure landscape. The session brought together a powerful mix of perspectives — from institutional finance and private equity to developers and lenders — including Ankur Jalan, CFO of Grovy India Limited, who shared insights into the shifting dynamics of the luxury residential market.
The Panel
The discussion featured:
Ankur Jalan — Chief Financial Officer, Grovy India Limited
Saurav Suneja — Director, Strategy and Policy, National Investment and Infrastructure Fund (NIIF)
Lakshmi Pati — Managing Partner, ASK Property Fund
Pranay Kumar — Executive Director, Rudra Enterprises Limited
Abhijit Varma — North Region, Piramal Finance Limited
What Was Discussed
Real estate and infrastructure as twin engines of growth. Opening the conversation, Saurav Suneja framed real estate and infrastructure as inseparable enablers of India’s economic progress — spanning everything from toll roads and seaports to renewable energy projects and student housing, all sitting at the intersection of the two sectors. He pointed to India’s roughly $3.5 trillion GDP, of which real estate contributes an estimated 7–8% (around $300 billion) — a figure projected to touch $1 trillion by 2030.
A market that has fundamentally changed. Speaking from Grovy India’s vantage point as a South Delhi luxury developer, Ankur Jalan highlighted how buyer behavior has shifted in the post-pandemic years. He described a clear move away from a savings-driven economy toward a consumption-led one, with buyers increasingly seeking exclusivity — entire units and facilities reserved for themselves rather than shared amenities. This has translated into strong demand for luxury and ultra-luxury residences.
A nationwide price reset, not a Delhi-only story. Jalan noted that the sharp rise in residential prices isn’t confined to Delhi — it’s a trend playing out across the country. Even at the very top of the market, with units selling in the ₹100–200 crore range, buyer appetite hasn’t shown signs of a ceiling.
Financing the next phase of growth. Rounding out the conversation, Abhijit Varma spoke to how lenders like Piramal Finance are approaching underwriting in this environment — assessing demand, supply, and the potential for new players to disrupt the market as part of a holistic risk assessment process.
The Bigger Picture
The panel captured a real estate sector in transition: one where institutional capital, private equity, developers, and lenders are all recalibrating around a more consumption-driven, exclusivity-seeking buyer — while keeping an eye on how real estate and infrastructure investment together support India’s broader growth story toward 2030.
————————————————————————————————————————————————————————————————————————————–
Grovy India Limited was proud to be part of this conversation at ASSOCHAM Real Estate Conference 2025.
