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Kolkata, 20th April 2020
Ascon Infrastructure India Ltd, a leading infra company of Eastern India announced that the company shall begin operations post relaxation of lockdown from 20th April 2020 in a phased manner with minimum staff and workers at the site and back office with strict adherence to social distancing, sanitization and follow all guidelines adopted to face COVID 19 pandemic, announcing this Mr. Laxman Jaiswal, Chairman & Managing Director of the company also informed that the company has cleared salaries and other statutory dues to all it’s employees and construction site workers as well as complied with tax and duties payable to the Government as stipulated despite a complete halt in it’s operations. It also needs to be mentioned that the IT division of Ascon Infrastructure India Ltd, had work from home since the Lock down was announced and was functional all through the period.
He said, “I foresee a minimum of 6-8 months of further slide in the market before it can regain an upward growth from December 2020 onward. Lower returns from mutual funds and stocks would get people back to investing in real estate. He requested the Union Government to give oxygen to the industry by giving it access to cheaper funding or delay liabilities by a year.
Devaluation of rupee has further generated interested among foreign investors. Repayments for dues will be staggered and all affected stakeholders will have to come together to firm up repayment plans for a mutually accepted solution. The government must support with robust and effective measures to save the real estate sector from the current crisis.”
