BHUBANESWAR: With the real estate sector slowing down, small-time real estate developers in the city are diversifying into add-on ancillary businesses. They have ventured into electric appliances, electronic goods, sanitary and home fittings and other FMCG (fast moving consumer goods).
Darshan Pro-Enterprises, a real estate developer in city, recently took distribution rights of Haldiram food products in Balasore and Jajpur districts. The company has also added event management to its profile. "With no demand for houses, we are branching out to remain afloat," said CMD of the company Jnanranjan Priyadarshan.
Srikant Rout, whose company is into plotting schemes in the state capital, has started supplying electric appliances to housing projects. "Since demands have gone down in past two years, it is difficult to rely only on plotting schemes," said Rout.
Niranjan Nayak, who was marketing residential projects till recently, has added mutual funds and insurance to his portfolio. "My hands were full till 2010. Now, it has become difficult to sustain by marketing housing products only. I also work as investor guide for mutual funds and insurance," he said.