IPL & REAL ESTATE – Bailout !!!!
A slew of big management jargon were thrown at the hapless ‘aam admi’ over the past few weeks leading to the IPL auctions. Men, women and not so lucky were kept wondering on what these had a connect with cricket. Yours humbly though exposed to words like valuations, value, physical properties, features, team specifications, leadership blah & blah was quite amused.
Many of those found uttering these through professionally worded PR jaunts weren’t actually practitioners. Many, most actually, had a strong connect with the Real estate Industry, which by design, isn’t acknowledged to be the most professionally run multi billion industry, where the demand outstrips supply.
My questions kept getting bigger, as Mr. Modi’s grin. Of course, he made it seem as if $50 Million was the tip left on the table, post dinner. Nevertheless, factor of intrigue was the REAL estate connect of most (all??) the bidders. A few names or contenders who wanted to be part of the IPL renewed – Videocon, JayPee, Adanis, Sahara, Rendezvous, players in the earlier Pune & Ahmedabad consortiums, Kochi consortium, ICICI etc.etc. Even the Tinsel world contributions came from those who are known to use Real estate as the preferred investment product.
Now, What is common between IPL & Real estate? Err… I mean, does IPL also have the same traits as real estate industry? Bhai, then tho it is another pakka bubble in the blowing… it would take a few down only after attaining a few billion dollar worth of valuation as well as swell the numbers first.
Now, isn’t this the same industry which was asking for “Bailouts & Sops” a few months ago? Wasn’t this the same industry which wanted their buyers to wait patiently till their hard earned money see fruition? Wasn’t this industry wanting more money to complete projects? Wasn’t this the same industry which resisted regulation.. now.now.. I don’t want to get into the merits of the RE regulation bill.
On a generic level, what is it that attracts the companies with a real estate connect to such events? Is it the holding pattern of most RE cos? (promoters own most shares, family run etc.) OR is it the genuine risk appetite. Is IPL planned to be run like the RE indistry, or would RE draw motivation from IPL. (slam-bang-thank-U-maam with the bechara buyer)
Whatever so, the wait continues for the aam admi coz he has already paid half the money for the dream flat, and won’t even dare to ask questions to the Real estate developers, whether they have water harvesting or not. Sentiment and blessings always with the Real estate developers, from aam admi so that he could complete quickly and then go & play ^%$#@&*.
Keep wondering, deciphering and finding your own truths.
This is no reflection on the credibility of those who are cash rich and buying teams. Musings only. Disclaimer is almost 150 pages, hence not posting here