Hi ,

M3M is slated to launch it's high end residential project in Sector 67 , Gurgaon by the name of MERINO around July 15,2011. ( Singapore Style Living ) as they have opted to position these apartments

Minimum Ticket Size : 1800 sq ft

Current Rate : 6750 / sq ft less inaugral discount of 650 for few
editions / limited period.

Effective Current Rate : 6100 / sq ft.

Location : Sector 67 , adjacent to Ireo Victory Valley and
between Landmark Commercial.

M3M has huge land bank in Sector 67.
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  • Bang on Analysis of Merlin. Very rightly said. Would like to add few more reasons for its debacle :-


    - This project was launched at the time when M3M's credibility was at all time low and that too at over ambitious price. When after the launch they didnt get expected repsonse, they sold a very large part of the inventory to many financiers and underwriters with a promise of handsome gains in times to come. They were also offered handsome discount so many units were picked up. This lobby generally holds the unit with the cash flow plan of 2 installments. M3M faltered on construction start and demanded the third installment. This is where many of these investors lost their patience and have come out in the market at the same time. The price that you see is only due to over supply in the market and Demand from M3M for the 3 installment. I think the 4th one is also already due or is due shortly.

    - Second thing that went against in M3M's favor was loosing the confidence of the channel. Most of the commission due was held back for a long time and many of them didnt get the fair deal. What was promised wasnt delivered. Hence there was a strong backlash by the channel for the group and none seem to be excited to promote this project. By the time the group realized its mistake, it was too late and the image had already taken a beating. Nothing can explian this paradox when the project next to IVV, with similar specs and the best contractor (L&T) is still trading at discount.


    - Third big mistake was launch of Milano immediately after Merlin. Even that project was grossly over priced for that location. Infact location was really really bad. Those investors who had invested in Merlin with the hope of exiting at 30% installment, felt cheated as all the new investors were more or less tempted to invest in Milano, due to price difference and payment schedule. There was lots of confusion in the market. Merlin and Milano were competing with each other for the same share of pie and at the end cannabalized them selves.


    - Fourth and the worst thing that happened with M3M amidst all this chaos was the scrapping of Milano. What ever investor and the end user confidence was left in the market vanished over night and severely impacted the sale of Merlin. Scrapping of Milano was onbf of its kind example on Gcx, SPR, or any where in Gurgaon.

    - Lastly to add insult to injury there were rumours in the market that L&T has fallen out of the association with M3M and they would no more be doing their project. This added further fuel to the negative sentiments. Fortunately this issue was sorted out timely and without larger damage, Golf estate construction was put back on track. Many ads were released (re-released) in all national dailies about L&T and M3M association. I think post all this the momentum which was going down day by day stabilized at the bottom and now things are looking better then before.

    There is some construction visible at the site and that brings in some confidence on the table.
    Having said that, does this mean "All ez Well". Well no one knows right now. M3M as a group and Merlin as a project is at inflection point right now. They can regain what they initially envisaged about their identity or they can completely loose it again at this juncture. So this brings us to the classic vantage point . This stage sets the ball rolling for tempting returns to investors and probable "Good decision gone SOur" for the smart investor.


    At 6400 and at this location and with this specs, its a good value buy. But the returns wont be exceptional in short run. One will have to wait for good time to get return and your patience will definetely be tested.

    Till the time current inventory in the market and all the distress sales land up in strong hands with 2-3 years horizon, there will be severe pressure on the prices. I am sure slowly slowly this inventory is getting reduced. Once it gets over, you will hit the sweet spot.

    Now how many of us have the guts to take a plunge now and get the rewards later ,only time will tell.

    This is how folklores of Gurgaon RE returns are made of.

    Game is open now.

    RA.



    Originally Posted by sh-saxena
    I believe the market never really underprices anything without good reason.
    When Merlin was launched at 6750 (6100 after discount) in June last year, the adjoining IVV with higher specs was 5800-6000, Presidia with same specs and better location was 6500 and Uptown with lower specs was 5000. After one year, IVV/Presidia have reached 8000+ level, Uptown 7500 and Merlin still languishing at 6500.
    In my view, reasons are quite a few -
    - When it was launched, it sort of lost to projects like Skyon/VV which had better specs and were in similar new launch stage and priced at lesser or same rate. There was also anticipation of IREO 67A which swayed many investors to it.
    - Endusers were probably wary of somewhat unpopular perception of M3M and maybe the inefficient floor plans was a putoff (it was surely a putoff for me).
    - I think M3M just failed to connect with buyers esp the endusers - shoddy website, immature sort of sales team, the management came across as unprofessional which made their execution capability come under doubt. It didnt help that they launched a super-ambitious project like Golf Estate as their first project and then didnt wow everyone with timely execution. Instead launching the same product in different names spoke of desperation (e.g Polo suites which has the silliest advertisement video ever, find it on this forum).
    - Merlin never started construction (I believe it has now), which should defn not have been a deter for investors atleast but as months passed and there was no news of Merlin starting, investor interest waned as the resale price never jumped which never jumped as people did not flock to it, Catch-22 ??

    The positives still remain the same - good specs, and the construction being from L&T and these are very big positives and yes, a price of 6500 for luxury specs is a steal today for GCX.
    It just might reap rich dividends if someone takes the plunge.
    CommentQuote
  • Absolutely right. I think M3M would face more challenges on the way. In my opinion, the group does not know how to conduct real estate business and hence it is possible that it may end up handing over the projects to a big collaborator like the Tatas or the Mahindras. They do have a good landbank. But, they simply do not have the vision to translate their plans from paper to the ground.

    Originally Posted by rushilarora
    Bang on Analysis of Merlin. Very rightly said. Would like to add few more reasons for its debacle :-


    - This project was launched at the time when M3M's credibility was at all time low and that too at over ambitious price. When after the launch they didnt get expected repsonse, they sold a very large part of the inventory to many financiers and underwriters with a promise of handsome gains in times to come. They were also offered handsome discount so many units were picked up. This lobby generally holds the unit with the cash flow plan of 2 installments. M3M faltered on construction start and demanded the third installment. This is where many of these investors lost their patience and have come out in the market at the same time. The price that you see is only due to over supply in the market and Demand from M3M for the 3 installment. I think the 4th one is also already due or is due shortly.

    - Second thing that went against in M3M's favor was loosing the confidence of the channel. Most of the commission due was held back for a long time and many of them didnt get the fair deal. What was promised wasnt delivered. Hence there was a strong backlash by the channel for the group and none seem to be excited to promote this project. By the time the group realized its mistake, it was too late and the image had already taken a beating. Nothing can explian this paradox when the project next to IVV, with similar specs and the best contractor (L&T) is still trading at discount.


    - Third big mistake was launch of Milano immediately after Merlin. Even that project was grossly over priced for that location. Infact location was really really bad. Those investors who had invested in Merlin with the hope of exiting at 30% installment, felt cheated as all the new investors were more or less tempted to invest in Milano, due to price difference and payment schedule. There was lots of confusion in the market. Merlin and Milano were competing with each other for the same share of pie and at the end cannabalized them selves.


    - Fourth and the worst thing that happened with M3M amidst all this chaos was the scrapping of Milano. What ever investor and the end user confidence was left in the market vanished over night and severely impacted the sale of Merlin. Scrapping of Milano was onbf of its kind example on Gcx, SPR, or any where in Gurgaon.

    - Lastly to add insult to injury there were rumours in the market that L&T has fallen out of the association with M3M and they would no more be doing their project. This added further fuel to the negative sentiments. Fortunately this issue was sorted out timely and without larger damage, Golf estate construction was put back on track. Many ads were released (re-released) in all national dailies about L&T and M3M association. I think post all this the momentum which was going down day by day stabilized at the bottom and now things are looking better then before.

    There is some construction visible at the site and that brings in some confidence on the table.
    Having said that, does this mean "All ez Well". Well no one knows right now. M3M as a group and Merlin as a project is at inflection point right now. They can regain what they initially envisaged about their identity or they can completely loose it again at this juncture. So this brings us to the classic vantage point . This stage sets the ball rolling for tempting returns to investors and probable "Good decision gone SOur" for the smart investor.


    At 6400 and at this location and with this specs, its a good value buy. But the returns wont be exceptional in short run. One will have to wait for good time to get return and your patience will definetely be tested.

    Till the time current inventory in the market and all the distress sales land up in strong hands with 2-3 years horizon, there will be severe pressure on the prices. I am sure slowly slowly this inventory is getting reduced. Once it gets over, you will hit the sweet spot.

    Now how many of us have the guts to take a plunge now and get the rewards later ,only time will tell.

    This is how folklores of Gurgaon RE returns are made of.

    Game is open now.

    RA.
    CommentQuote
  • Thats such an insider indepth analysis, mine was more of an enduser point of view. (Would recommend a book called Outliers which elaborates factors for success/failure apart from obvious ones, if you havent read it already)
    But would you buy Merlin today assuming you have the needed funds ??
    If not, why ??

    Originally Posted by rushilarora
    Bang on Analysis of Merlin. Very rightly said. Would like to add few more reasons for its debacle :-


    - This project was launched at the time when M3M's credibility was at all time low and that too at over ambitious price. When after the launch they didnt get expected repsonse, they sold a very large part of the inventory to many financiers and underwriters with a promise of handsome gains in times to come. They were also offered handsome discount so many units were picked up. This lobby generally holds the unit with the cash flow plan of 2 installments. M3M faltered on construction start and demanded the third installment. This is where many of these investors lost their patience and have come out in the market at the same time. The price that you see is only due to over supply in the market and Demand from M3M for the 3 installment. I think the 4th one is also already due or is due shortly.

    - Second thing that went against in M3M's favor was loosing the confidence of the channel. Most of the commission due was held back for a long time and many of them didnt get the fair deal. What was promised wasnt delivered. Hence there was a strong backlash by the channel for the group and none seem to be excited to promote this project. By the time the group realized its mistake, it was too late and the image had already taken a beating. Nothing can explian this paradox when the project next to IVV, with similar specs and the best contractor (L&T) is still trading at discount.


    - Third big mistake was launch of Milano immediately after Merlin. Even that project was grossly over priced for that location. Infact location was really really bad. Those investors who had invested in Merlin with the hope of exiting at 30% installment, felt cheated as all the new investors were more or less tempted to invest in Milano, due to price difference and payment schedule. There was lots of confusion in the market. Merlin and Milano were competing with each other for the same share of pie and at the end cannabalized them selves.


    - Fourth and the worst thing that happened with M3M amidst all this chaos was the scrapping of Milano. What ever investor and the end user confidence was left in the market vanished over night and severely impacted the sale of Merlin. Scrapping of Milano was onbf of its kind example on Gcx, SPR, or any where in Gurgaon.

    - Lastly to add insult to injury there were rumours in the market that L&T has fallen out of the association with M3M and they would no more be doing their project. This added further fuel to the negative sentiments. Fortunately this issue was sorted out timely and without larger damage, Golf estate construction was put back on track. Many ads were released (re-released) in all national dailies about L&T and M3M association. I think post all this the momentum which was going down day by day stabilized at the bottom and now things are looking better then before.

    There is some construction visible at the site and that brings in some confidence on the table.
    Having said that, does this mean "All ez Well". Well no one knows right now. M3M as a group and Merlin as a project is at inflection point right now. They can regain what they initially envisaged about their identity or they can completely loose it again at this juncture. So this brings us to the classic vantage point . This stage sets the ball rolling for tempting returns to investors and probable "Good decision gone SOur" for the smart investor.


    At 6400 and at this location and with this specs, its a good value buy. But the returns wont be exceptional in short run. One will have to wait for good time to get return and your patience will definetely be tested.

    Till the time current inventory in the market and all the distress sales land up in strong hands with 2-3 years horizon, there will be severe pressure on the prices. I am sure slowly slowly this inventory is getting reduced. Once it gets over, you will hit the sweet spot.

    Now how many of us have the guts to take a plunge now and get the rewards later ,only time will tell.

    This is how folklores of Gurgaon RE returns are made of.

    Game is open now.

    RA.
    CommentQuote
  • Its a very tricky question but let me try and answer it .

    I would 100% buy it if I fall in either of the two cateogires or stage of Investment :-

    1. If I have alreay made good returns in my first or second purchase and I am used to seeing good return and also understand the value of holding power (3-5 Years). None of the new launches excite me with their price proposition. Merlin does. Just because I am getting lots of distress sale.

    2. I dont want to go beyong Gcx. Period. If I belong to this category and I have 3-5 years of horizon and I need something in the least possible budget, I will go with Merlin. They also have a 1700 sq ft size for 3 bhk which you dont get in Gcx. At the current price and with this size, total cost of ownership is the least amongst all Gcx projects (for 3bhk).

    To be in the either of the above categories one needs to have :-

    1.Strong mind. Be confident of one's decision. If value deals were so easily identifiable, all of us would have been rich. Also enough confidence in oneself to not get dissuade by the negativity all around.

    2.Holding power of 5 years. Thats when the real return will come.

    3.Patience to sleep over this purchase and forget about it for 2 years.

    Reasons for my such decision would be .

    1. TINA - Is there any alternative at this price in Gcx. Price and Negative factors will move in opposite direction with the passage of time. Once the construction reaches its full speed, prices will move up and all negatives will come down.
    2.Location :- If IVV is projected to reach at 15k by possession then at 30% discount this will be at 11k approx by then. Which means from current level atleast 70-80% upside.
    3. As far as return is concerned one can say that you invest in gurgaon any where today and in 5 years this return will come. But is there any comparable location that comes to you with this return where you may also want to live one day? So it serves two purpose.
    4. This belt of sector 65,66 and 67 will be the new eco system power house of gurgaon in the future. Growth of this area is not dependent on Ireo alone but will be brought together by M3M,Emmar,Ireo, Ansal, Bestech and BPTP.
    So lot is riding in this area.
    5. Lastly this is the only project onn Gcx that is available so close to its launch price. So in terms of future slow down or recession,this project has the least risk in terms of price going down below the launch price.
    Even if M3M goes bust tomorrow, there will be enough takers for this project due to its location. By takers I mean in case of liquidation, many developers would be keen to buy this.
    Well this is the worst case scenario that I am sure none of us will see in our lifetime.

    Hope this helps.

    RA




    Originally Posted by sh-saxena
    Thats such an insider indepth analysis, mine was more of an enduser point of view. (Would recommend a book called Outliers which elaborates factors for success/failure apart from obvious ones, if you havent read it already)
    But would you buy Merlin today assuming you have the needed funds ??
    If not, why ??
    CommentQuote
  • Dear RushilArora,

    I find your analysis very helpful. I had convinced myself that the best VALUE DEAL on GCX was Heritage One due to location, upfront money required, risk, and builder reputation. After reading your comments I have decided to look at Merlin again.

    How would you compare Heritage One vs. Merlin? I would have given you a run down on both propeties but you would know way more than me about anything on GCX. I am looking for long term investment, at least 4 years. Please share your views.
    CommentQuote
  • Whats the resale price of Heritage right now and the size that you are looking at.

    Sorry I havent followed Heritage much so not aware the current prices.

    Will revert once I have the details.

    RA

    Originally Posted by LostGuy
    Dear RushilArora,

    I find your analysis very helpful. I had convinced myself that the best VALUE DEAL on GCX was Heritage One due to location, upfront money required, risk, and builder reputation. After reading your comments I have decided to look at Merlin again.

    How would you compare Heritage One vs. Merlin? I would have given you a run down on both propeties but you would know way more than me about anything on GCX. I am looking for long term investment, at least 4 years. Please share your views.
    CommentQuote
  • I am looking at 3 bedroom, 1890 Sq. Feet apartment. It is an apartment complex with three buildings, relatively low apartments/acre density. It has a football field. It has all luxury options except VRV airconditioning. The location is Sector 62, right next to Heritage school and enterance through sector dividing road.
    CommentQuote
  • Originally Posted by rushilarora
    Bang on Analysis of Merlin. Very rightly said. Would like to add few more reasons for its debacle :-


    - This project was launched at the time when M3M's credibility was at all time low and that too at over ambitious price. When after the launch they didnt get expected repsonse, they sold a very large part of the inventory to many financiers and underwriters with a promise of handsome gains in times to come. They were also offered handsome discount so many units were picked up. This lobby generally holds the unit with the cash flow plan of 2 installments. M3M faltered on construction start and demanded the third installment. This is where many of these investors lost their patience and have come out in the market at the same time. The price that you see is only due to over supply in the market and Demand from M3M for the 3 installment. I think the 4th one is also already due or is due shortly.

    - Second thing that went against in M3M's favor was loosing the confidence of the channel. Most of the commission due was held back for a long time and many of them didnt get the fair deal. What was promised wasnt delivered. Hence there was a strong backlash by the channel for the group and none seem to be excited to promote this project. By the time the group realized its mistake, it was too late and the image had already taken a beating. Nothing can explian this paradox when the project next to IVV, with similar specs and the best contractor (L&T) is still trading at discount.


    - Third big mistake was launch of Milano immediately after Merlin. Even that project was grossly over priced for that location. Infact location was really really bad. Those investors who had invested in Merlin with the hope of exiting at 30% installment, felt cheated as all the new investors were more or less tempted to invest in Milano, due to price difference and payment schedule. There was lots of confusion in the market. Merlin and Milano were competing with each other for the same share of pie and at the end cannabalized them selves.


    - Fourth and the worst thing that happened with M3M amidst all this chaos was the scrapping of Milano. What ever investor and the end user confidence was left in the market vanished over night and severely impacted the sale of Merlin. Scrapping of Milano was onbf of its kind example on Gcx, SPR, or any where in Gurgaon.

    - Lastly to add insult to injury there were rumours in the market that L&T has fallen out of the association with M3M and they would no more be doing their project. This added further fuel to the negative sentiments. Fortunately this issue was sorted out timely and without larger damage, Golf estate construction was put back on track. Many ads were released (re-released) in all national dailies about L&T and M3M association. I think post all this the momentum which was going down day by day stabilized at the bottom and now things are looking better then before.

    There is some construction visible at the site and that brings in some confidence on the table.
    Having said that, does this mean "All ez Well". Well no one knows right now. M3M as a group and Merlin as a project is at inflection point right now. They can regain what they initially envisaged about their identity or they can completely loose it again at this juncture. So this brings us to the classic vantage point . This stage sets the ball rolling for tempting returns to investors and probable "Good decision gone SOur" for the smart investor.


    At 6400 and at this location and with this specs, its a good value buy. But the returns wont be exceptional in short run. One will have to wait for good time to get return and your patience will definetely be tested.

    Till the time current inventory in the market and all the distress sales land up in strong hands with 2-3 years horizon, there will be severe pressure on the prices. I am sure slowly slowly this inventory is getting reduced. Once it gets over, you will hit the sweet spot.

    Now how many of us have the guts to take a plunge now and get the rewards later ,only time will tell.

    This is how folklores of Gurgaon RE returns are made of.

    Game is open now.

    RA.


    The mess they created with their Sec107 project further amplified the negative image M3M started creating for themselves. Cheques were collected as response received was good at 4500 price point. People saw it as a good entry price for a M3M property even though location was a big negative. What happened was that brokers did not deposit any cheques and pocketed all 2BHK options and started selling at a premium. Price was quickly raised and there were no buyers at all in the market for 3BHK and project bombed.

    M3M has failed to catch the pulse of the market as other new player like Ireo. With Golf Estate they showed huge promise and till the time it is delivered, M3M will remain part of 'also ran' gang. Golf Estate is really crucial not only for M3M but for GCx as a destination itself. If it comes up as well as expected, it will re-define luxury living in Gurgaon.

    Coming to Merlin, the specs are quite good but progress was virtually non-existent. Buyers patience was really tested. Inventory lying with underwriters didn't help either.

    It represents a good value buy today. Floor plans are not the best specially for smaller sizes. M3M has not showed intent in execution. Risks remain but returns can turn out to be windfall.
    CommentQuote
  • excellent posts all around and in my view ' Landbank can not be a substitute for a vision', neither can 'money be a substitute for a culture'.

    That is the reason they are stumbling right through their evolution , lack of a vision & a culture.

    They have been able to use their moneypower to attract L&T for golf estate & merlin and shapoorji palonji for urbana. They are necessary steps but not an end in itself. This has been made worse by a lack of organizational culture which has created an atmosphere of distrust amongst their stakeholders including their channels & potential customers.

    However it does not seem to be too late & atleast they have got their act together by hiring the best subscontractor in business today and we can see early signs of project movement. there is lot of resources deployed in golf estate, urbana and to some extent merlin.

    as rushibhai has said, they are at an inflexion point and the path to the future will be shaped, provided they fix their culture.
    CommentQuote
  • Well, Reading all posts, my only Concern is:

    Why throw good Money After bad? Why give this developer more money to play around with?

    Why not Strengthen companies who are doing a Good Job at Execution, like Pioneer and Tata.

    Try Selling your Units, even at 20% deep discount, and you will not find a buyer.

    Liquidity has to be an integral part of any Investment Strategy.

    Hence forth, even if you get a UNIT at 5,000 PSF, you shd think 10 times.

    Consider other Investment options in the area rather than Punting on a new player.

    M3M using L&T's Brand Equity. Nothing else.

    My POV.
    CommentQuote
  • Originally Posted by RAMRATAN74
    Well, Reading all posts, my only Concern is:

    Why throw good Money After bad? Why give this developer more money to play around with?

    Why not Strengthen companies who are doing a Good Job at Execution, like Pioneer and Tata.

    Try Selling your Units, even at 20% deep discount, and you will not find a buyer.

    Liquidity has to be an integral part of any Investment Strategy.

    Hence forth, even if you get a UNIT at 5,000 PSF, you shd think 10 times.

    Consider other Investment options in the area rather than Punting on a new player.

    M3M using L&T's Brand Equity. Nothing else.

    My POV.


    agreed but then as they say you need to ' earn a bournville ( L&T )'. If it was so easy to buy L&T brand equity, everyone would be doing it.

    Mind it L&T is equally concerned about its Brand .

    But if you have a choice, to invest with a reputed brand , without getting into uncertainity, then which fool will not.
    CommentQuote
  • L&T cannot be your messiah for all your evils. L&T has also built small projects for Lucknow Development Authority and other small time builders. L&T can guarantee quality of construction but there are 100s of other factors which contribute to success of any residential project.

    And having L&T has not helped Merlin, not at least till now, its prices are still the same before the announcement of L&T 3 months ago, while most of the projects have moved up by 10-15% in these 3 months.

    Can anyone tell me who built Palm Springs on GC Road ? It is considered to be one of the best finished product on GC ? L&T , Palonji, Arabtech ?

    But still its resale prices are lower than most of the DLF projects inside GC and quality of Palm Spring and DLF projects are miles apart.
    CommentQuote
  • Originally Posted by shkhan
    L&T cannot be your messiah for all your evils. L&T has also built small projects for Lucknow Development Authority and other small time builders. L&T can guarantee quality of construction but there are 100s of other factors which contribute to success of any residential project.

    And having L&T has not helped Merlin, not at least till now, its prices are still the same before the announcement of L&T 3 months ago, while most of the projects have moved up by 10-15% in these 3 months.

    Can anyone tell me who built Palm Springs on GC Road ? It is considered to be one of the best finished product on GC ? L&T , Palonji, Arabtech ?

    But still its resale prices are lower than most of the DLF projects inside GC and quality of Palm Spring and DLF projects are miles apart.


    I agree that there are lot of factors that go into making a project succesfull not just the brand of the builder or the subcontractor, i agree. two of the best brands Tata & Shapporji Pallonji still take around 4 years 8 motnhs to deliver a project in gurgaon, which proves your point no doubt :) :) . Ofcourse the quality will be the best in class no doubt and as promised.

    However as amit no. 1 ji keeps on repeating you need a peace of mind , so L&T has the ' brand value ' to give the peace of mind and they have become L&T by ensuring the success of their projects across diverse set of customers wether government or private. This they do by doing due diligence of the projects , as they can afford to be choosy and they do not come cheap.

    so very rightly it is finances, quality of management, excellent team and culturally aligned stakeholders & ability to manage environment all contribute
    to the success of a Project . What good is it to a poor end user , delivering a high quality project 3 years after promised due date. His grave is dug , quality or no quality.Imagine a project started in early 2006 , delivered around Jan 2012 . Imagine the poor end user who invested in 2006 dreaming of a delivery in 2009.

    coming to merlin as i mentioned , they need to work on all other parameters to be anywhere near being a success story.
    CommentQuote
  • This logic doesnt work.sir. just because you were impressed by corporate governance in Satyam during first few years of Its operation doesnt mean that it becamne te role model, we all know what happened.

    What happened to IVV ? It was launched 2 years back and will take another 2 -2.5 yes for possession . LnT to be blamed or Ireo.
    CommentQuote
  • Originally Posted by Bikumatre
    agreed but then as they say you need to ' earn a bournville ( L&T )'. If it was so easy to buy L&T brand equity, everyone would be doing it.

    Mind it L&T is equally concerned about its Brand .

    But if you have a choice, to invest with a reputed brand , without getting into uncertainity, then which fool will not.

    Agreed, L&T or any other sound co does a credit check before entering into any contract, I am sure L&T must have taken a bank guarantee from M3M for the full value of the contract, which makes it a very less risk project for end buyer.

    what M3M has done is not a easy thing to do ..giving all contracts to L&T and Shapoorji, the vision is there and getting implemented. I strongly belive that it will create a very strong brand value with each passing year.
    CommentQuote