The liquidity crisis faced by non-banking financial companies (NBFCs) has triggered concerns for property developers. After all, commercial real estate and housing sectors comprise nearly two-fifths of the total NBFC portfolio. It is not surprising therefore that the BSE Realty index has given up a large part of the gains made last year. The index is down 35% in the year to date as investors are jittery about the recovery of the sector.
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