DB Realty has said cancellations of bookings were not a concern since they would be in the range of zero to 2-3%. ?When people pay 29-40% as the booking amount, they do not want to lose on the price advantage that they have at that time,? N Shridhar, group director (business strategy and finance), DB Realty observed, adding that while some projects have been partially sold, certain others have seen sales of as much as 90%. Sridhar was addressing analysts over a conference call who were enquiring as to whether there had been any cancellations.

On whether the alleged involvement of two company promoters in the 2G spectrum scam was impacting customer sentiment for the company, he said, ?Customer sentiment might have been impacted, but we have been proactive in talking to our customers and brokers. And it is not that the competition has sold 10 flats and I have not sold even one. It?s all about may be somebody selling five and me four or may be we have sold three in certain locations and competition has sold none.? He further added, ?D B Realty is a public listed company headed by a completely separate team of professionals.?

Elaborating on the company?s strategy Sridhar said, ?The company’s thrust area will be to complete and develop existing projects and may be look at one or two new projects.? DB Realty currently has over 83.5 million square feet of developable area, 33.5 million square feet is in ongoing projects and 50 million square feet for forthcoming projects.

Updating analysts on its Bandra Government Colony project, Shridhar said, ?We have got the letter of intent and discussions on the development agreement are on. We have to pay R802 crore to the government which will be given.? Refuting speculation that the company might lose the project, he said, ?It was bagged through a tender process and there was no condition in it that was not fulfilled. We continue to believe that the project is with us.?

In July 2010, DB Realty got the right to redevelop a large chunk of the 100-acre PWD government colony in Bandra (East).

On media reports that DB’s R400-crore slum rehabilitation housing project for the Pimpri-Chinchwad New Township Development Authority, near Pune has been scrapped by the government, he said, “We are taking a view on that”.

The company?s two promoters Shahid Balwa and Vinod Goenka were arrested for their alleged involvement in the 2G scam.