In this episode of The State of the Economy podcast by BusinessLine, Abhishek Law speaks with Bamasish Paul, Co-founder, Managing Partner and CEO of Ethonhurst Capital Partners discussing the evolving landscape of India’s real estate sector.
The episode begins with Paul unpacking the nuances of Mumbai’s ₹3 lakh crore redevelopment market, explaining how older cooperative housing societies are being transformed into premium high-rises with modern amenities—without upfront land acquisition. It’s a capital-efficient strategy that offers lower risk, staggered investment, and significant returns for investors.
From society redevelopment models to the impact of regulatory frameworks and FSI (Floor Space Index) norms, Paul explains why this niche segment, though challenging, presents a unique opportunity. He also sheds light on the broader real estate investment climate, the shifts from equity to structured credit, and the cautious optimism surrounding foreign investments amid global uncertainties like Trump-era tariffs.
Listeners will gain rare insights into how redevelopment differs from conventional residential projects, what makes Mumbai so uniquely suited for it, and whether this model can scale to other Indian cities. Paul also touches on the current state of commercial real estate, the rising influence of GCC demand, and the evolving interest of global PE giants like Blackstone in India’s housing market.
(Host: Abhishek law ,Producer: Prethicshaa Gurumoorthy)
About the State of the Economy podcast
India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem set to fire on all cylinders.
Published on April 15, 2025
