The CEO of Link Group, which owns 43pc of electronic conveyancer PEXA, says the gloomy predictions on housing have been overdone.
The PEXA holding brought in 27 per cent of Link’s total profits in 2021-22.
Link made a bottomline loss of $67.6 million in 2021-22, which was an improvement on the $163 million loss reported in the previous year. Both years contained heavy one-off items.Mr Bhatia said overall cost savings had come in at $78 million on June 30, ahead of a target of $75 million. The group has 1100 staff at two sites in India, in Mumbai and Pune. He said when he took over, the India hubs had about 400 people.
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