There was a setback in the retail segment and the individual housing segment which has not seen any uptake, no rectification of the reversal of demand there as yet. It will last till the cash crunch continues and that is difficult to say till when. However, as yet we do not see any change in that.

Demand is going to be much lower compared to what the street is expecting. The reason being not only demonetisation, which is impacting demand but the upcoming Real Estate Regulatory Authority (RERA) is going to slowdown new project launches.

Recent cost escalation in terms of pet coke cost have doubled in the past four months; imported coal all the South Africa, Indonesia as well as Australian coal prices have shot up by 60-70 percent in the past few months and we have diesel, the domestic diesel prices which have increased by 16-18 percent over the past 12 months.

However, the silver lining here is that the infrastructure is growing pretty strong. Demand will actually be supported by infra and having said that we won’t see double digit growth at least for the next couple of years because there has been a setback and till such time that real estate does really pick up which is anybody’s guess - that is not foreseen.