www.theenterpriseworld.com | APAC Edition | December 2019
THE PRIME LEADING
Real Estate BRANDS
DUBAI A Global City
At a Glance
“Getting there, going beyond”
P R A B H AT R A N J A N CHAIRMAN AND MD
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From Editor's Desk Live a better Tomorrow, Invest in real estate today!
A nation can be called as a developed one on the basis of many things. Infrastructure is one of the top factors that play a vital role in the journey of a nation from Developing to Developed one. The real estate sector is one of the globally recognized areas. The real estate sector consists of four sub-sectors - housing, retail, hospitality, and business. The construction industry ranks third among the 14 largest sectors in terms of direct, indirect and driven inﬂuence in all sectors of the economy. The growth of the sector is supplemented by the growth of the corporate environment and demand for oﬃce space, as well as urban and semi-urban amenities. An investment in real estate is a better option than anything else to secure tomorrow. In this issue of The Enterprise World, The Prime Leading Real Estate Brands we are featuring such real estate companies that can be deﬁned as a landmark in the real estate industry. Featuring for the cover story is Olympeo. Olympeo is an aﬀordable housing development company specializing in active lifestyle development. Presently, they are developing large integrated projects promoting active and healthy living for urban low to mid-income families. There is not a single day that we don’t come across any TATA product. TATA group has a unique position in the Indian as well as the global economy. In a special editorial feature ‘At a Glance’, read out about the TATA group’s journey since the inception. Readout an interview with Shri Dilip Bharade, founder at Raghukul Constructions and get known about Raghukul constructions and his views about the real estate industry’s current scenario in India. Dubai, one of the top landmarks in the ﬁeld of real estate around the globe. From World’s tallest building Burj Khalifa to the iconic Palm Island, Dubai is always at the forefront in the real estate industry. Readout more about Dubai in Upshot Metros and get motivated to plan a trip to Dubai. Home is not a place, it’s a feeling, own it now! Happy Reading!
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Leaders in Spotlight This issue of The Enterprise World, 10 Highly Acclaimed Companies to look Out for 2019 features, Featuring for the cover story is Netstairs. Today workforces communicate frequently online to get work done within time and more qualitative. It is a need to provide a real-time communication platform for such forces. NETSTAIRS is a strong standing company dealing in innovative and complex video-based solutions. Mainly processes in digital media delivery, cloud infrastructure, platforms, and software as a service. The Master’s brain behind the growth of the company is Ahmad Moradi, CEO of NETSTAIRS. Buzo Media Services is a young, nimble and one of the fastestgrowing digital media agencies of Nagpur, India. From media planning to content strategy, web development to listing websites on top searches; Buzo does it all- that too eﬀectively! Buzo is a Google Partner Agency and the highest digital ad-buying ﬁrm from Central India. In an Interview with Mr Ashok Goyal, MD at BLR Logistiks, read out their journey since inception. BLR Logistiks is a leading name in the transportation and logistics industry due to its quality services oﬀerings. They provide transportation, International Freight Management, Warehousing and Distribution, Project and ODC transportation and Rail Cargo services to their valuable clients.
Flying Penguins is a software design & development and digital marketing company with 5 years of experience in the ﬁeld. The team of 35 people headquartered in Asia’s biggest logistics hub and education hub of Central India, with additional marketing oﬃce in Sydney, Australia. In this era of e-commerce, to empower businesses digitally, eOrchids Technosolutions provides various services to their valuable clients. In a conversation with Mr. Mustafa Kamal, Founder & Creative Head at eOrchids Technosolutions, let’s ﬁnd out more about the company and their technology oﬀerings. Founded in May 2008, Easy Trip Planners is a brainchild of Mr. Rikant Pitti & Mr. Nishant Pitti. Easy Trip Planners is an online travel company based in Delhi and is a leading name in Indian travel industry and is known for providing the best deals. In an interview with Mr. Vineet Trakroo, the CEO (Chief Evolution Oﬃcer) of Evolution Strategy, let us learn how important an 'Evolution Strategy’ is to the businesses. Readout and open doors of opportunity in the ﬁeld of strategic planning. Shoppingkart24, is a global platform to many weavers/artisans /craftsmen/farmers, small-scale vendors, providing an online/oﬄine channel to showcase the unique & versatile line of products and hence promoting richness & uniqueness of Indian arts & crafts along with
other non-crafts products from several artisans/craftsmen or local manufacturers & vendors from rural/urban India. Training and development are key to progressive organizations and they have allocated budget for the same. In a talk with Prizma Digitech’s Founding Members and Directors Mr Aakash M Borse, Mr Vishal V Kulkarni and Mr Jalay V Pandya let’s get motivated by their success story and discover more about Prizma Digitech. IndiQus is a fast-growing Cloud solutions company that works with Service Providers (Telcos, ISPs and Datacentre providers) globally and helps them set up and run an incountry cloud business. IndiQus provides 360-degree solutions covering software, professional services and business consulting to enable the Service Provider to build and operate a local cloud business. Their customers include the likes of Airtel-Nxtradata, Vodafone, Ooredoo, Sri Lanka Telecom, and Datahub. Nirmalya Labs is a product development company, founded by techno-entrepreneurs from National Institute of Technology (NIT). In an interview with Biraja Prasad Nath (Chairman) and Keshav Tripathy (CEO), they speak of Nirmalya Labs, its inception, the challenges and the journey.
We provide a wide range of financial services to a substantial and diversified client base
08 Olympeo Infrastructure Getting there, going beyond
14 Ambuja Neotia Making a Difference the Way People Live
24 Anarock Retail Values over Value
42 18 Indiassetz The Family Ofce for Your Real Estate Wealth
Raghukul Constructions Pvt.Ltd.
22 Cash Flow Management Mistakes That Can Kill Your Business
Building Dreams with Beams EXPERT’S VIEW
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A Good Hedge in Troubled Times for NRI Investors
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54 Vasupujya Corporation Turning Dreams into Reality
Upshot Metros DubaiThe Business Hub
50 At A Glance TATA Group of Companies
58 Town Planning in India
We believe excellence isn't a destination; it's more of a journey
Olympeo Infrastructure Getting t h e re , g o i n g b e y o n d
Prabhat Ranjan Chairman and MD www.theenterpriseworld.com
urrently, the real estate sector of India is worth US$ 120 billion and plays a signiﬁcant role in economy of the country. Real estate sector in India is expected to reach a market size of US$ 1 trillion by 2030 and contribute 13 per cent of the country’s GDP by 2025. Retail, hospitality and commercial real estate are also growing signiﬁcantly, providing the muchneeded infrastructure for India’s growing needs. The Indian real estate sector in on a major crossroad. The Government of India along with the governments of the respective states has taken several initiatives to encourage the development in the sector. The Smart City Project, where there is a plan to build 100 smart cities, is a prime opportunity for the real estate companies. Some of the other major Government Initiatives are (1) Under the Pradhan Mantri Awas Yojana (PMAY) Urban, more than 8.09 million houses have been sanctioned up to May 2019. (2) In February 2018, creation of National Urban Housing Fund was approved with an outlay of Rs 60,000 crore (US$ 9.27 billion). (3) Under the Pradhan Mantri Awas Yojana (PMAY) Urban 1,427,486 houses
have been sanctioned in 2017-18. In March 2018, construction of additional 3,21,567 aﬀordable houses were sanctioned under the scheme. In 2017 RERA and GST has been implemented. After eﬀect of demonetisation clubbed with RERA and GST, the real estate sector of India has seen a big change. It has increased the transparency and diligence in the business eco system of the industry. The government has also issued draft guidelines for investments by Real Estate Investment Trusts in the non-residential sector. With such developments, the real estate industry in India is poised to grow at a faster pace. Today, many of the multinational companies are looking forward to investing in the real estate sector considering its great potential. Founded in 2013, Olympeo is spearheaded by IIT and IIM alumnus having a combined experience of developing and executing realty projects spanning over 10 million square feet. Olympeo Infrastructure has its core competencies in Design, Planning, Quality and Timely Execution of Project. In addition, the company uses technology to oﬀer all the
comprehensive real estate management and maintenance solutions to its customer. Everyone deserves a lifestyle celebrates everyday living, a lifestyle that ensures the well-being of your family. A lifestyle that truly makes you come alive. But only a select few can aﬀord it. Wouldn’t it be nice if such a lifestyle were made aﬀordable too? At Olympeo, it's their endeavor to build meaningful lifestyle for modern India. Olympeo is committed to develop large integrated townships inspiring active and healthy living. These townships shall oﬀer modern day convenience and comforts at aﬀordable terms, which until now, were reserved for the privileged few. For a plan to work, something that is drawn out on such a big canvas, it is essential to get investor appreciation. Once you have the trust of your investors, you can soar high into the skies and build your dreams. But often, getting investors poses as a challenge. And as the protocol has it, Olympeo Infrastructure too had it as a challenge to get investor appreciation initially. But, the company being professionals in working with large enterprises, they
Olympeo Infrastructure Pvt Ltd. promises to create lively and recreational spaces that scale new heights of comfort, style and conveniences in living spaces.
were able to handle liaisons and approvals with ease. They were also able to handle local environment at sites and getting quality work from contractors & vendors at the outskirts locations. Each company is able to bounce back up after hitting its lowest point. It just takes tremendous amount of eﬀort to do that. There comes a point in the journey of the enterprise, the triggering point that catalyses this process of growth. For Olympeo, this triggering point proved to be their commitment and quality towards their work. They were committed to deliver lifestyle projects at aﬀordable prices. The quality of construction, our focus on green & sustainable development and excellent sales & marketing team triggered the growth of the company. With fairly long term goals, Olympeo has made sure that they invest in technology and people. Customers’ requirements at all stages of the project are at centre in their project planning, sales & marketing and construction. www.theenterpriseworld.com
Olympeo puts lot of eﬀort in hiring and grooming their team members. They pay special attention in their educational background and hunger to excel in life. The company is also very particular in selecting their project partners, vendors and contractors. Lot of weightage is given to their experience and work ethics. All these were unprecedented in the aﬀordable housing segment which has traditionally suﬀered from low quality workforce, lack of professionalism and transparency. Their Service Portfolio Olympeo is an aﬀordable housing development company specializing in active lifestyle development. Presently, they are developing large integrated projects promoting active and healthy living for urban low to mid-income families. They are focusing to make active lifestyle aﬀordable to masses which currently are meant only for the privileged few. Moving forward, they are also expanding in diverse avenues with senior living, facility management, and schools.
Be it architectural designing, construction standards, on-time deliveries or facilitating buying process along with ﬁnance partners, every process is made seamless. The structured approach helps all the stakeholders in achieving the desired results with more transparency. Olympeo is committed to developing large integrated townships inspiring active and healthy living. These townships shall oﬀer modern-day convenience and comforts at aﬀordable terms, which until now, were reserved for the privileged few. Olympeo has a vision “to be housing partner of choice” and is planning to launch 3 more projects in outskirts of Mumbai Metropolitan Region in next 1 year. Olympeo has a target to present itself in major cities of western and central India including but not limited to Mumbai, Pune, Ahmadabad, Nasik, Nagpur, and Surat in the near future. Real Estate Market and the New 11
Possibilities Real Estate market is evolving into a mature industry. The level of transparency and compliances has increased in short period of time. It is resulting into consolidation in the sector and will lead to a situation where professionally managed companies with long term vision only would thrive. Customer centric product, quality construction, timely delivery and service orientation would be the key consideration in real estate sector. Currently co-working spaces, student accommodation and aﬀordable housing segment are the areas in which are being explored by institutional investors and real estate companies. Another area which can come up with some modiﬁcation in legislation is Rental Housing. Furthermore, senior living is another area which has potential for growth. In addition, going forward service component in all the segment of the real estate sector will increase. Olympeo has been growing at a CAGR of 50% from 2015-2018. The growth rate is further expected to soar in the coming years as Olympeo expands to new markets.
simpliﬁed and transparent processes and through inspired living, we are committed to deliver more than we promise our customers. Care for Employee The dynamic work environment at Olympeo gives our employees the freedom to express themselves, freedom to conquer new heights and freedom to think out of the box. Care for Community Love and care go beyond the boundaries of culture, religion, traditions and beliefs. So do we. We are committed not to hurt anyone by our actions, abide by all the laws and the jurisdictions and maintain cordial relations with all the authorities and establishments. Care for Environment When you care from your heart it shows. Be it providing safe, clean and sustainable green development. Our projects are carefully designed and engineered maintaining harmony between growth and natural environment.
Care for Customers Though innovation, through creative execution, through 12
Prabhat Ranjan- A Torch Bearer of Success Mr. Prabhat Ranjan is the cofounder of successful PE fund Brick Eagle. His earlier stint includes Sr. Vice President at Indiabulls Real Estate, where he headed Business Development. He has also overlooked Land Acquisitions, Sales and Marketing of Commercial Projects. And has also worked with Reliance Infrastructure and played a key role in their project planning and execution team for the Mumbai Metro Project. He has an experience of handling more than 15 million sq.fts. of real estate projects. He has more than 15 years of experience in Business Strategy and Development in Infrastructure & Real Estate Sector with an indepth experience of project evaluation, land acquisition and project agreements. For about 3 years, he has handled multiple projects in extended Mumbai suburb.
“We believe excellence isn’t a destination. It’s more of a journey. Excellence is something that
As an entrepreneur himself, Mr. Prabhat Ranjan thinks that entrepreneurs are carrying the huge responsibility of trust & conﬁdence that a lot of stakeholders have shown in them, be it investors, employees, customers and their own family. They are also torch bearer for many who want to join the bandwagon based on their outcome.
happens along the way. You see, we believe in continuous improvement, in setting newer benchmarks. In other words, we don’t believe in resting on our laurels. We sincerely believe that we’re not competing
Team Olympeo “Our employees are our main stakeholder.”
Units: crores of rupees(Rs.)
‘Care x 4’ DNA is the foundation on which Olympeo was created.
with others, but ourselves.”
Olympeo believes in hiring high quality people with right attitude. December 2019
One of the key criteria they look for in their employees other than their professional competence is their background, their perspectives in life, things they value and what they are proud of themselves in their life. They pay a lot of attention in skilling & training. Employees are empowered to carry out their job and a road map for their growth is laid out. Conducive environment is put in place to develop a sense of ownership among employees and their feedback & initiatives are always appreciated. Olympeo has a range of projects in various stages of planning and execution – from tenements, apartment to sprawling luxury bungalow and row houses. In addition, the company will oﬀer all the comprehensive real estate management & maintenance solutions to its customers. “Olympeo is envisioned to be housing partners of choice” Olympeo has launched their ﬁrst project “Olympeo Riverside”, large integrated township spread over 25 www.theenterpriseworld.com
acres. It was the First Township in Neral to get an OC for 280 ﬂats at a time. Riverside was the ﬁrst largescale project launched by Olympeo. Planned by Architect Hafeez Contractor with 15-20 minutes’ walk from Railway station, Riverside has 12000 sqft luxurious clubhouses with a big swimming pool. In 2018, we launched Olympeo Neo City which is spread across 10 acres. Both the projects are beautifully designed with more than 80% open space. Mr. Prabhat Ranjan’s Message to the NewbiesWe have to choose our priorities in life. These can evolve over period of time based on our stage of life. As long as we are honest to our goals and are giving our best to achieve that, everything else should be secondary. However, we can’t fully ignore or isolate ourselves from getting inﬂuenced by the rat race out there. To cope up with that we should develop interests and passions outside our profession. Sports, travel, reading, spending time with family & friends and active involvement on social works gives a lot of meaning in life and satisfaction. These acts as
balancing role on the peer pressure that we come across on account of rat race. While it is necessary to develop our interests, the competition out there can’t be ignored. And to cope with that, you need to be vigilant. Constant vigilance is a need of the hour. Signiﬁcant numbers of companies falter at various stages of their existence on account of slippage at operational level. Vigilance is required at each step of the company operation not only to check ﬁnancial fraud or leakages but also to look into the redundancies at every level. Constant vigilance keeps the organisation at it toes, improves accountability and prevents ﬁnancial meanderings. One thing we must keep in mind that constant vigilance is not due to lack of trust. At every level we follow ‘Trust but Verify’ principle. This way process becomes the vigilant free from human error. “And, when you want something, the entire universe conspires in helping you to achieve it” – Paulo Coelho.
MAKING A DIFFERENCE TO THE WAY PEOPLE LIVE
With a journey that started more than two decades ago in Kolkata, they aim to be responsible, progressive & sensitive corporate citizens. The company has its forte in real estate, hospitality, healthcare, education and Start-up incubation and has been responsible for landmark projects in and around Kolkata. The Company Originally from Rajasthan the Neotia family has been an integral part of Kolkata’s business scenario for nearly 120 years and was principally involved with trading of cement, fertilizers and petroleum products. Relying on their vision and vast experience, Late Shri Suresh Neotia and Late Shri Vinod Neotia along with Shri Narotam Sekhsaria promoted ‘Gujarat Ambuja Cements Limited (GACL)’, which earned the “Blue 14
Chip Status’ and became a leader in the cement industry. Eventually Shri Harshavardhan Neotia, son of Late Shri Vinod Neotia was appointed as MD of the newly formed ‘Ambuja Cement Eastern Limited’, what was arguably India’s most well known and eﬃcient cement company.
CHALLENGES MERELY STRENGTHENED MY RESOLVE TO CREATE SOMETHING AMBITIOUS AND FUTURISTIC AND MAKE A DIFFERENCE TO THE EXISTING STATE OF AFFAIRS
veryone wishes for a perfect home, just like the one they dreamt about, or an oﬃce space with all the utilities necessary. Ambuja Neotia, Kolkata’s most prominent real estate ﬁrm duly stands to the expectations of its customers. The group desires to make homes that are more than just walls, homes that are part of a neighbourhood, which encapsulate the essence of our society and ecology at large.
In 1993 he forayed into Real Estate with a simple mission – to make a diﬀerence to the way people live. This simple thought was supported by the Government of West Bengal and their ﬁrst project Udayan was built on Public-Private Partnership model. Udayan was also the ﬁrst large foray into social housing, that
triggered growth and its recognition inspired future developments. To give a distinct direction to the brand’s individuality, the group decided to merge ‘Ambuja’ with the illustrious ‘Neotia’ family name and changed its corporate name to Ambuja Neotia. Their Services Ambuja Neotia today has progressed beyond just housing, nurturing the domains of realty (residential, retail and commercial), hospitality (resorts, hotels, clubs and restaurants), healthcare (superspeciality hospitals, fertility clinics), education and Start-up incubation. While venturing into commercial oﬃce space, they realised the need of a comfortable work-life balance for young professionals and created Ecospace Business Park, a Goldrated Green Building project. In hospitality, their ﬁrst major venture was ‘Raichak on Ganges’. Ambuja Neotia set up an integrated complex comprising resort, spa and country homes on a sprawling 100 acres of land on the banks of the majestic Ganges. They have also championed the cause of healthcare by setting up Bhagirathi Neotia Woman and Child Care Centre in Kolkata and Neotial Getwel Healthcare Centre, December 2019
The Prime Leading Real Estate Brands a multi-speciality hospital at Siliguri. With a humble desire to contribute to the advancement of education in Bengal, they set up The Neotia University and CIISuresh Neotia Centre of Excellence for Leadership. With the aim to equip aspiring entrepreneurs to make a mark with eﬀective business strategies they have recently founded Neotec Hub, an unique incubation and accelerator centre for eligible startups. HARSHAVARDHAN NEOTIA
The Challenges and the Road to Success Mr. Neotia started his business in Kolkata in 1980s amidst the economic downturn. Industry was the last thing on people’s minds. However, he wanted to make the city that he grew up in, his workplace. Udayan was a home with a complete neighbourhood and won the national recognition for being a Model Housing Project. Back in the 90’s when he conceived the idea of Raichak on Ganges, a unique combination of hotels, resorts and country homes, located almost 50 kilometres away from the proper city, it appeared outlandish to many. Today it is one of the most popular leisure properties in and around Eastern India. Over the decades of working in pursuit of excellence, Ambuja Neotia Group has developed a strong belief system and that is responsible for ensuring happiness to their customers and stakeholders. The fundamental tenets on which the company operates are – Customer Centricity, Compliance, Sustainability and Quality. They demonstrate an uncompromising www.theenterpriseworld.com
commitment towards the above in the organisation. The real-estate market is moving fast and the reforms, the unprecedented shifts in demographics have changed its entire landscape. To comply with the ever-changing need of the buyers and deliver unique products along with providing a seamless customer experience have become imperative for conducting business. Leading the Team and the Road Ahead “I feel the essential element that is needed to be productive and successful at work is by being happy.” Happiness is what motivates and empowers people and allows them to spread the joy in everyone they interact with and take a control over things happening around them. Mr. Neotia believes in making the experience of his employees, a happy one and good work follows organically. For an entrepreneur the most
important role is to make a diﬀerence in the fabric of the country’s economic development by sensing opportunities and stepping in to ﬁll the gap. The journey of entrepreneurship is driven by innovation and the entrepreneur becomes responsible for economic growth by creating employment and building communities. Mr. Neotia says that as an entrepreneur his biggest achievement would be to create value through his products and services. Since the beginning of the journey his focus has been to trigger sustainable development along the entire value chain. For example, City Centre Salt Lake was the ﬁrst commercial development in and around Salt Lake, a place which was hitherto considered a rather quiet peripheral extension of Kolkata city. Today Salt Lake has become a self-sustained city in itself, with City Centre eﬀectively triggering direct and indirect development and changing the lives of people along the way.
Talking about the road ahead, currently the most trending and talked-about segment of real estate is aﬀordable housing, which now is well received by buyers, developers and various ﬁnancial institutions. Several factors like rapid urbanization and increased trend of nuclear families have led to the high demand in this segment. Various encouraging schemes by the Government of India in the last 5 years have also contributed to the popularity of aﬀordable housing amidst buyers. Ambuja Neotia’s approach has always been to address the legitimate demands of a market and ﬁll the void by creating value through their products and services. As a company, they intend to stick to the thought in future as well.
Udayan, The Condoville
Altair Boutique Hotel
Ganga Kutir, Raichak on Ganges 16
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THE FAMILY OFFICE FOR YOUR REAL ESTATE WEALTH
It is not uncommon for real estate owners to face challenges in maintaining or managing their property or assets and without proper guidance, investors acquire or dispose of assets without realising their full ﬁnancial potential or in worse-case scenarios, face losses. The lack of expert advisors in the real estate space only serves to exacerbate the problem. With a lack of trusted professionals, investors tend to rely on unqualiﬁed brokers, property agents and even family and friends to manage their real estate investments. To this eﬀect, Indiassetz was formed in 2014, as India’s ﬁrst professionally-run real estate wealth management ﬁrm to oﬀer unbiased, expert advisory and portfolio management services within the secondary real estate market. 18
Indiassetz took the term ‘real estate’ beyond the buy-sell dyad to encompass a wider range of activities focused not only on wealth creation but also wealth management and growth. The Company Headquartered in Bangalore, the IT
MOST PEOPLE THINK BUYING IS INVESTING, BUT THEY'RE WRONG. IT DOESN'T MAKE YOU AN INVESTOR ANY MORETHAN BUYING GROCERIES MAKES YOU A CHEF” - GARY KELLER
he term ‘Real Estate’ has generally been used in reference to two realty activities i.e. the buying or selling of land or built-up assets. This has largely limited real estate wealth creation and growth since investors tend to relinquish control over their real estate assets in favour of market dynamics, sometimes with unfavourable results.
capital and fastest growing city in India, Indiassetz operates as a boutique family oﬃce advising clients on how to create and manage real estate wealth. Led by a team of highly skilled and qualiﬁed senior ex-bankers from Standard Chartered Bank,
Indiassetz pioneered organised real estate services in India. Drawing on their extensive experience in the banking and ﬁnancial industry, the team, led by Shivam Sinha – CEO, operates on the four key tenets of trust, convenience, expertise and technology. This mirrors the disciplined approach adopted by banks and ﬁnancial institutions in management of cash and ﬁnancial wealth thereby inspiring high levels of conﬁdence among clients. Indiassetz is present in 5 major cities in India viz. Bengaluru, Mumbai, Hyderabad, Chennai, and has also established presence outside India with an oﬃce in Dubai. With an ever-expanding reach, the company services more than 4000 registered clients and their families both in India and overseas with assets under management in excess of $ 350 million and growing. Their Services Indiassetz follows a unique and unparalleled business model which keeps the company heads and shoulders above its peers. The company oﬀers a notably wide range of services which includes advisory, tax, legal, and government liaison assistance, tenancy and property management, December 2019
The Prime Leading Real Estate Brands
SEEMA HARSHA COO
portfolio management (buy, sell, rent services), ﬁnancial assistance, and succession planning to name a few key oﬀerings. These services are oﬀered across all property types i.e. residential, commercial, owned, leased, land, built-up assets etc. and to a varied client based both in India and abroad. The company engages in in-depth market research to oﬀer clients information and consultation based on market data and analysis. Market research is conducted on the primary and secondary markets, studying trends and forecasting risks to facilitate rational decisionmaking enabling clients to better manage their real estate wealth. Indiassetz also boasts a unique, ﬁrst-of-its-kind, technology platform which acts as a ready interface for clients. Clients can use the platform to upload details of their assets and real estate holdings, communicate with the company, track progress and the status of their dealings with the company, and view, in real-time, all data in www.theenterpriseworld.com
SHIVAM SINHA CEO
the form of an easy-to-navigate dashboard. Clients are provided real-time updates through the platform as a unique service oﬀering. This not only increases transparency between Indiassetz and its clients but also allows clients to take full and complete ownership of their real estate portfolios and its management. It oﬀers clients convenience by allowing access to the platform at all times, irrespective of their geographic location.
sense of belonging among its employees so as to operate as a cohesive unit thereby promoting internal and external growth. The company comprises skilled individuals, each uniquely competent and adept in their respective roles ensuring the right solutions are developed to meet the varied needs of clients in an eﬃcient and professional manner. This has been a key factor contributing to the company’s growth and success over the years.
Leading the Team and the Road Ahead Shivam Sinha is the Chief Executive Oﬃcer (CEO) and founder of Indiassetz. Under his able guidance and visionary leadership, Indiassetz has grown exponentially year-on-year to become the leading real estate wealth management ﬁrm in India.
Indiassetz - Mission • To be the largest real estate wealth management and advisory ﬁrm in India. • To provide world-class service to clients • To be India’s ﬁrst in providing best in class technology platform for managing real estate wealth Indiassetz continues to expand its reach into newer markets, consistently and constantly developing newer product and service oﬀerings to meet the needs of its clients.
The organizational culture at Indiassetz is based on enablement and empowerment. Constantly striving for excellence, the company believes in fostering a
It is NOT a philosophy but the basic moral fabric upon which stands a strong and distinct culture, holding the interest of our people both internal and external. TRUSTWORTHY We demonstrate responsible behavior and practice clear communication by clearly saying what we mean and meaning what we say. INTEGRITY Integrity to us is about maintaining the balance between knowing and doing what is right. We at
Indiassetz do our business with utmost integrity and honesty. RESPONSIVE We keep our customers and stakeholders well informed and armed with all that they need to know, in a timely manner. Our team at Indiassetz is committed to reducing the turn-around time and bettering the delivery quality. CREATIVITY & INNOVATION We continually improvise and innovate our processes and service oﬀerings, to help meet the dynamic demands of our customers. RESPECT Indiassetz treats your assets exactly the way it would treat its own. We respect people’s time by being responsive and are an inclusive organization that encourages freedom of speech and respects individuality.
WE BELIEVE THAT GREAT TEAMS, WHO HAVE A DEEP SENSE OF BELONGINGNESS, FOR BELONGINGNESS INSTILS RESPONSIBILITY AND INITIATIVE, BUILD GREAT ORGANIZATIONS.”
Values Our core “Values” are the guiding principles that help us align the internal aﬀairs as also our relationship with our customers and stakeholders, to the larger Vision of changing the way Real Estate Wealth is managed in India today.
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Cash Flow Management Mistakes That Can Kill Your Business
ash ﬂow management is a process of monitoring, analyzing and optimizing the net amount of cash receipts minus cash expenses. For the ﬁnancial health of a business what is important is the net cash ﬂow measurement. This is an important factor for any business, as much as 80% businesses fail because of the poor cash ﬂow management. If you see that your business is constantly spending more than it earns, then it is clear that you have a cash ﬂow management problem. Here are the most common cash ﬂow 22
management mistakes that can kill your business.
• Forced Growth Sometimes it is good for a company to have a good growth story, but often the excessive growth can cause harm to the company. So what is forced growth? Sometimes it is a bigger oﬃce to accommodate more people, or sometimes a rollout of new products, or more than needed AD spend. Forced growth is anything that would call for
increased expenses. Such tasks are eﬀort-oriented and can severely aﬀect the day to day operations. In such times, you must eﬃciently estimate these cash outages so that you can be prepared for any other urgency.
• Spending too much on sales For any small business to grow, it is certainly important to fetch new customers, sometimes even at the cost of incurring losses. But what is important here is that you need to identify whether the customer will December 2019
bring you the proﬁt that you had estimated. The two factors here are ‘Acquisition Cost’ and ‘Lifetime Value’. Acquisition Cost- This is the cost spent on getting one customer. Lifetime Value- This is the total revenue the customer generates in its lifespan.
yearlong operations, it so happens that they ﬁnd themselves cash-rich during the peak seasons of business and for the remaining period face diﬃculty in managing the cash outﬂow. So when the cash-rich season begins, people tend to make overhead commitments that become diﬃcult to handle during the oﬀ-seasons.
Clearly, if you spend more on the acquisition cost, you are going to incur loss. Because at the end of the day, it will be a small customer and will give you a very limited return. To avoid this, you need to focus on other aspects and not just one thing.
To avoid this, you need to make sure that there are enough provisions for the oﬀ-seasons in the ﬁnancial plan.
• Ignoring the Seasonal Nature of the Business
What are taxes? On a funny note, they are the ﬁne we pay for doing well. Otherwise they are the statutory obligations that are
For the businesses that do not have www.theenterpriseworld.com
• The Improper Management of Taxes
compulsory in nature and have to be paid mandatorily. You like it or not, there is no choice. Also it has to be paid whenever it is due. Sudden changes in the taxes or other defaults from the taxpayer can aﬀect the cash outﬂow. So taxes have to be accounted for and proper calculations must be made for it in the ﬁnancial plan. Thus it is always necessary to plan for any of such uncertainties. After all, a bird in the hand is worth two in the bush! Concluding, these are some of the cash ﬂow management mistakes that can lead to losses in the business.
RETAIL Values over Value
Interview with The Enterprise World ndia’s real estate industry has always been rather traditionbound – but with newer technology continuously being introduced, many of enterprises have been adapting to these changes. Tech-savvy millennials are dominating the market, and the real estate industry is now morphing into alignment with technological advancements. Ensuring that specialized retailers get the exact spaces they require along with scalability options, ANAROCK Retail provides highly evolved tech-enabled property consultancy services.
2. What were the initial challenges you faced? Retail real estate is a highly competitive space and there are a multitude of ﬁrms active in this arena. However, as we are established players with a strong record of successful leasing mandates, we managed to edge out the competition in very little time. Our aim is to bridge the disconnect between retailers and the spaces they need. Many mall owners have been unable to align their products and strategies to the new retail environment, and often need to be convinced that using ANAROCK’s technology-driven services is the best way forward for them.
In this interview, Anuj Kejriwal, CEO & Managing Director for ANAROCK Retail talks about heading India's most tech-enabled retail real estate consultancy services.
3. Which was that point that triggered the growth of the company? In recent years there has been a huge demand for retail leasing consultants who can assure successful matching of both mall owners and retailers. ANAROCK Retail hit the ground running as we had innumerable on-going mandates which needed to be serviced. As such, there was no deﬁnite point at which we entered the growth phase – it was growth from the word ‘go’.
1. Tell us about the company. ANAROCK Retail taps into India’s $700 bn. retail market via its expert retail consultancy services. The ﬁrm is the result of a partnership between ANAROCK and Faithlane Property Consultants, which I had formed after exiting my role as National Director for a prominent international property consultancy. At ANAROCK Retail, we use our deep market reach in this domain to bring top retailers and owners of India’s best retail spaces together after crafting the most optimal arrangements for both sides. With our team of highly knowledgeable market experts, we have successfully bridged the retail real estate gap. By leveraging ANAROCK’s highly tech-enabled property consultancy services, ANAROCK Retail has created the ultimate retail real estate leasing solution in India.
4. What is the reason behind your company’s long-standing success? Among many other factors, our success also lies in ANAROCK Retail’s ability to turn around the performance and fortunes of ailing or badly-implemented malls. 2017 it witnessed large-scale mall closures and nearly 5 million sq. ft. of retail space was wiped out. These malls can technically be considered ‘dead’ and the developers are constantly looking at opportunities to revive them as retail entities, rather than
converting them into oﬃces and mixed-use projects. In most cases, developers did not invest in strategic research of the tenanting equation, adequate leasing expertise and the right mall management partners. It is, in fact, possible to revive a mall if a professional ﬁrm like ANAROCK reworks the equation at the DNA level. In other cases, the available space can still be turned proﬁtable via focused mixed-use tenanting, ‘reverse modelling’ or a complete revamp of the business model. Their Products/Services 5. What are the products/services the company focuses on? How are your services diﬀerent from those in the market? ANAROCK Retail oﬀers bespoke, customized retail space leasing solutions to mall developers, high street retail players and retailers. Our strength lies in our highlyexperienced team which leverages ANAROCK’s proprietary technology solutions to close client requirements quickly and for optimal proﬁtability of all concerned parties. We advise mall developers and retailers on the best strategy right from their entry into the market and throughout the lifecycle of their retail business. Of course, ANAROCK’s inherent strength as India’s premier real estate consultancy services provider is a major advantage that opens doors and closes deals. 6. How do you decide to take the company a step further in terms of your products/services? We will focus on building our team strength, expanding into newer geographies and upping the ante on technological innovations in retail space planning, leasing and advisory.
7. How do you think is the real estate market evolving? Of the 65 mn sq. ft. of new mall supply hitting the Indian market by 2022-end, nearly two-thirds (40 mn sq. ft.) will deploy by 2020-end itself - and not just in the metros. This new supply is also driven by the increasing interest of institutional investors - including PE players - who invested almost USD 1.9 bn into Indian retail between 2015 and Q1 2019. In fact, over 60% of this investment corpus was infused in the last two years (2017 and 2018) alone, making these the best years for the retail sector in recent times. Notwithstanding the decline in deal activity in the second half of 2018 following the NBFC-induced liquidity crisis, the retail segment attracted investments of almost USD 115 million in just the ﬁrst quarter of 2019. 8. Which are the new areas that are being explored in the real estate market? PropTech has disrupted the retail sector in India - speciﬁcally in mall designing or creating avenues for enhancing customer experience. From basic AutoCAD drawings, architects and designers have moved to software such as ‘Revit’ and ‘Archi Cad’ to enhance overall mall designs to ensure a superior customer experience. Architects and designers use these tools to visualize and plan the placement of stores within the mall to increase visibility. Currently, the use of technology in the retail sector is largely limited to designing or creating customer experiences. Its scope for leasing of mall spaces has not been fully explored as yet, and this function continues to be done oﬄine - either through real estate brokers or via the developer’s own channels - based on the
requirement and availability of space. Globally, the trend is to adopt PropTech in just about everything, including leasing and lease management. This approach leads to enhanced ease and proﬁtability. 9. Can you share your views on RERA, GST and Demonetization? How is it impacting the businesses? RERA, GST and demonetization were necessary to usher Indian real estate out of its almost traditional opacity and into a new era of transparency and accountability. They have doubtlessly induced short term pain, but the reward will eventually be of long-term gain. The market must and will adjust to these new realities and become a better place to operate in for all stakeholders. 10. What do you think are the responsibilities of an entrepreneur? Entrepreneurship for its own sake is pointless and inherently fruitless. It must be backed by a deﬁnite goal, an innovative approach to disrupting the status quo, and most importantly by suﬃcient knowledge and expertise. 11. Can you please brief us about your professional experience? Prior to launching Faithlane in and its subsequent merger with Indian real estate industry stalwart Anuj Puri’s ANAROCK Group. I was National Director for Retail Services at a prominent international property consultancy. In this capacity, I set the strategic direction for its retail division and drove revenue growth for the West India market. Simultaneously, I oversaw this IPC’s retail business in Bangalore, Chennai and Kolkata, and was key relationship manager for several of India’s largest and December 2019
Interview with The Enterprise World leading retail chains and retail real estate owners. My professional career spans 15 years and includes Retail Capital Markets functions such as strategic divestment of retail real estate assets to institutional buyers and HNIs. 12. How do you look after your employees? What makes your team unique? We don’t have employees – we have a team of highly-empowered and experienced retail professionals and everyone shares leadership responsibilities. When such a team works cohesively and gets as much as they give, there can be no other result than success.
Personal Questions 1. Can you tell us which your favourite book is? And your favourite part of the book (if any)? Why We Buy: The Science of Shopping by Paco Underhill. 2. One person who you admire the most? Kishore Biyani, Founder and CEO of Future Group 3. Which is the most inspiring quote you have read? “Twenty years from now you will be more disappointed by the things that you didn’t do than by the ones you did do. So throw oﬀ the bowlines. Sail away from the safe harbour. Catch the trade winds in your sails. Explore. Dream. Discover.” - Mark Twain 4. Constant vigilance- a need or a strategy? Please share your views. The retail market needs constant vigilance, analysis and interpretation. However, if you have a team that needs constant vigilance too, you need to get yourself a new team. At ANAROCK Retail, the only vigilance needed is outward-facing, not internal. 5. It’s a rat-race out there. How do you cope with that? In a rat race, cats are the clear winners. So, in my opinion, the best strategy is to emulate the qualities of a cat rather than participate in the rat race.
Anuj Kejriwal CEO & MD
THE BUSINESS HUB
ubai is the largest and the most populous city in the United Arab Emirates. Known as the global city, Dubai is a popular business hub in the Middle East. Established earlier as a ﬁshing village in the 18th century, Dubai is today the global transport hub for passengers and cargo. Dubai gained the growing importance of a port from the movement of the steamers of the Bombay and South Persian Steam Navigation Company, which paid ﬁve visits annually from 1899 to 1901. But later on, these visits increased to as much as 21 times a year, and that made Dubai an important port and it also gained a preference for trading. Since then, Dubai has become a growing center for regional and international trade, which is where most of Dubai’s economy comes from. Apart from trading, it also derives its economy from the tourism industry, aviation, real estate, and ﬁnancial services. The governor of Dubai, Sheikh Rashid bin Saeed Al Maktoum, used the revenues from trading to build the infrastructure of the city. With this, an airport of sorts was constructed in Dubai in the 1950s. In the early 1960s, Dubai became a lively port for the trade of gold with some 1968 imports of gold at about €56 million. The gold was in the vast majority of re-exported. In the year 1966, more amount of gold was shipped to London and France than anywhere else in the world. Later, an oil era began in Dubai, when oil was discovered in the territorial waters of Dubai. The ﬁrst oil ﬁeld was named ‘Fateh’ or ‘good fortune’. Thus it was the slow transformation of Dubai into a business hub.
Dubai experienced a property boom from the years 2004-2008, as the city started becoming oil-reliant. With the large scale construction taking place, Dubai is becoming one of the fastest-growing cities in the world. This property boom was driven by some of the megaprojects like the Palm Islands, The World, Burj Khalifa complex, Business Bay and many more such projects. The city is home to many skyscrapers. With these developing real estate projects, Dubai focuses and derives most of its economy from the tourism industry. Dubai is also the world’s thirdlargest diamond trading hub and has seen an increase in the trade of rough and cut diamonds since 2001. It is said to be a buying hub for the consumers of diamond jewelry. Apart from diamonds, Dubai is also a hub for gold trading, with India as its biggest buyer of gold. Along with a strong trading industry, Dubai is also
Dubai over Years Over the past 30 years, life in Dubai has seen incredible growth in terms of its economy, lifestyle and everything else. The development in Dubai started oﬀ in the early 1990s, but things started taking shape from the early 2000s. What caught the world’s attention was the development of the Palm Jumeirah, a huge reclaimed island in the shape of a palm tree. Dubai made another bold statement by opening The Atlantis- The Palm Resort in 2008 at the top of the Palm trunk. While the whole world was drowning in the wave of recession, these developments in Dubai showed it to the world that Emirates was emerging and it was open for trade and business. Nearly 6% of GDP in Dubai is derived from oil and gas, even then it has managed to double its economy from the 2000s. Dubai’s growth rate is higher than the growth rate of China or Asia, the The Atlantis
home to a few signiﬁcant industrial ventures. These primarily include the aluminium industry, energy production units, investments were also done in the car manufacturing industry.
tiger economies. While the development of Abu Dhabi was not seen much, the residential areas and the outskirts were seen adapting to the change and development quickly and easily. The residential areas December 2019
Upshot Metros included Khalifa City. The then submerged Khalifa City began to surface from the sands as the development of Abu Dhabi International Airport’s Midﬁeld Terminal appeared in the year 2006. Along with this, the Yas Island began to develop as the Ferrari World’s landmark red roof started to develop in the year 2009. The year 2009 saw major
Abu Dhabi International Airport’s Mideld Terminal
Ferrari World’s landmark red roof
developments as it was also the year of Emirates’ inaugural Grand Prix. The Saadiyat Island, primarily a desert island also transformed into a cultural hub between the years 2008 and 2009, with the Sheikh Khalifa Bridge connecting it to Abu Dhabi. Thus over the time from 1984 to 2019, the coast of Dubai has seen remarkable changes, with new arenas of businesses emerging, making it one of the most sought www.theenterpriseworld.com
after business hubs in the world. The coming years will show even more development in the real estate, automation, aviation, retail, and all the other industries.
Sheikh Khalifa Bridge
SIMPLIFYING HOME SEARCH
Globalization brought the world closer. Now one may need to shift to diﬀerent places to run his daily processes to earn. While shifting to diﬀerent places the ﬁrst vital thing is to ﬁnd a shelter and make it an own home. In a life full of rush hours one can hardly make time for himself or his family. If such time he needed to invest in ﬁnding a home and come across many places that are not worth to invest, then that can be a stressful waste of time. Instead of doing this, what if your search for dream home comes to end on just a single click? Stop thinking now! Because the thought is already turned into reality. Mr Manik Kinra, Co-Founder of Pin Click helping people to search, 32
view and move into their new homes. Pin Click which is started back in 2014 is all about simplifying the home search for the customer. It is a technology platform with strong oﬄine integration providing property advisory solutions for your new home requirements.
DON'T WAIT TO BUY REAL ESTATE, BUY REAL ESTATE AND WAIT
ome, one of the basic needs of human beings is the thing that we are attached to most. Everyone dreams to own a house that becomes his home. A second home or a holiday home are the trending concepts that are useful to have me time far away from the noisy routine world as well as for the sake of an investment for the future.
– T. HARV EKER
Currently present in Bangalore, Gurgaon, Mumbai & Pune, we are a team of more than 150 advisors. The Inception Mr Manik Kinra started his entrepreneurship journey in digital marketing & crowdsourcing
domain co-founding Jade Magnet which was the ﬁrst marketing crowdsourcing platform in India & Middle East. They did extremely well between 2009-13 working with over 3000 SMEs across the globe & over 100 large enterprises. During this journey, they also worked with some of the top real estate brands in India and it’s during this time realized the importance of an institutional sales & distribution platform for residential sales. He also happened to see some of the large players in similar domains doing extremely well outside India and some organized platforms coming up in India during the same time frame. Real Estate is one of the largest verticals/industries in India and Mr Kinra felt as long as they can institutionalize the process of selling, they could have a scalable model to work on and hence Pin Click. The Antecedent Challenges Mr Kinra doesn’t come from a business family and hence convincing himself of moving out of the corporate world was the toughest task. But once the decision was taken, it was more organizational challenges right December 2019
The Prime Leading Real Estate Brands from hiring to retaining to customer acquisition, etc. These challenges are common across industries, businesses and also to some level across the stage of business – just the magnitude changes. He thinks that what worked out was the fact that they have tried to keep things simple, break problems into smaller tasks and look at the task minutely daily. For example, retention which was a major issue with them for quite some time. Over the last 30 months, they have changed their incentive structures, started doing 6 monthly appraisals & got aspirational team members to take over larger roles deﬁned by their ability to deliver & not years of experience, & have seen a signiﬁcant change in our attrition numbers. Entrepreneurship around 10 years back wasn’t perceived as glamourous. It was more aspirational and driven by the desire to create an impact that made me become an entrepreneur. They Oﬀer • Pin click deals in advising properties that are most suitable for customer’s residential and investment needs. • They try to execute things better by using technology tools which enable the property advisors to give better solutions to the customer and help him make his decision better & faster. • They provide online to an oﬄine platform with a team of advisors who are focused on consumer’s investment • Pin Click currently provides services in Bangalore, Pune, www.theenterpriseworld.com
MANIK KINRA CO-FOUNDER
Gurgaon & Thane. ·
The Vision Real Estate is not known for being the most mature, professional industry in India. Would like Pin Click to be a part of that change as that happens with brands trying to bring in more transparency & process in the industry. Pin Click’s goal is to create a culture where relationships are not built on brokerages but on the ability to understand what the customer needs. Their unique online to oﬄine integration, marketing intelligence capabilities and innovative technology tools help them diﬀerentiate from competitors Secret Behind Building a Successful Customer Base Customers across the industry, region, or company return if they ﬁnd value in the product, service, solution that’s being oﬀered. That’s the only way to build a successful customer base. In their case, as long as they can give honest
advice, suggest quality options which can help a customer take a much more informed decision, he is bound to either come back or refer his friends and family to Pin Click Pin Click has 950 happy customers and they have sold properties worth 450 Cr to date. The Work Culture Like at Pin Click They have a very open culture internally. The teams work collaboratively, are open to suggestions & criticism and each department is run for people will full freedom to drive in the fashion best suitable to build ineﬃciencies. At the same time, they continue to be detailed oriented with daily & weekly reviews to ensure they don’t miss any anomalies at the same time push towards continuous improvement. A lot of this is driven by people who are aspirational and have been given full authority to be on the driver’s seat. We micromanage only if needed with a focus on improvement. 33
Reason Behind the Name Pin Click They wanted to have a name with a focus on real estate but one that can be used across verticals so if tomorrow they add more than residential sales, they don’t have to rename the brand. Real Estate is known through Pin Codes and that’s where Pin Came from. As 100% of their customer acquisition is online, they wanted to add an activity with relation to the internet and that’s how Click was added to the name.
25,000 prospects per month
customers to date
910 cr (INR) worth of homes sold
REAL ESTATE CANNOT BE LOST OR STOLEN, NOR CAN IT BE CARRIED AWAY. PURCHASED WITH COMMON SENSE, PAID FOR IN FULL, AND MANAGED WITH REASONABLE CARE, IT IS ABOUT THE SAFEST INVESTMENT IN THE WORLD.
The city heads for all 4 cities today for Pin Click are folks who joined in 2017 batch and it’s a wonderful feeling to see them grow from bringing fresher’s to managing teams to now leading the load of running full cities.
– FRANKLIN D. ROOSEVELT
Fly Better www.emirates.com
INDIA'S LEADING PROPERTY AND MORTGAGE ADVISOR
SareStates Realty Advisors is one such organization which is driven by extensively experienced professionals who are extremely passionate about Real Estate and have a very strong belief in our customer centric approach. SareStates Realty Advisors is a brain child of a great visionary & an able leader Mr. Amit Choudhury who has been nurturing the brand since its inception in 2010. It was formerly known as Way2Wealth Realty Advisors Pvt ltd was a part of Café Coﬀee Day. With his impeccable track record and passion towards Indian Real Estate, Mr. Amit decided to buy Way2Wealth Realty and shift his focused approach towards Indian Real Estate and strengthen the roots of SareStates across all states by aggressively building over its areas of expertise which are Real Estate consulting, Real Estate advisory, Real Estate valuation, Real Estate 36
research, property and capital markets services for residential developers. Mr. Amit has vast experience in the multidisciplinary advisory and transactions, with an impeccable 18 years of insightful experience in Strategic Planning, Leadership Development and Sales & Marketing with a strong domain in BFSI and Real Estate Industry.
WE ASPIRE TO IMPROVE CUSTOMER SATISFACTION BY DELIVERING PROFICIENT SERVICES
eal estate is often considered to be a risky ground. But what if we told you, there are no more risks in it? Yes, you heard it right! Real estate consultants will provide you with the apt advices you need when you are buying a property. A real estate consultant may also provide you with strategies you can work on in order to achieve your real estate goals.
Incredible Journey of SareStates Real estate industry is has changed drastically over the last decade and has much more scope going forward for development in terms of construction technology and facilities management.
Looking over the last decade’s performance in the real sector across India the only deﬁcit that bought us the thinking pattern was to ultimately bridge the gap between the buyer and the developer. Going forward from the last 10 years to our present status as a company we have plans and are working on a module that would ﬁll the gap and bridge the deﬁcit. What makes SareStates unique from others is their focus on rational balance between Residential, Commercial & Industrial sales along with Mortgages. They intend to become an integrated execution platform which oﬀers builders to acquire, fund, construct and sell; which makes us to stand unique from their competitors. “I always had a vision to become an entrepreneur.” Challenges are part and parcel of life, without which no one reaches to the top. Challenges always made us stronger & better every time. We made various mistakes but took a valuable lesson from each mistake, which helped us to back with a bang. Challenges we overcome in past were Recruiting right resources, retaining the talent, cash ﬂow management are among few. December 2019
The Prime Leading Real Estate Brands
AMIT CHOUDHARY MD & CEO
Transparency is among the key challenges in Real Estate which we are trying to overcome continuously by developing system and processes. Real estate industry is changing rapidly and customer trends are unpredictable. We continuously research on the trends and keep our employees updated to stay ahead of the competition.
& home buyers. Apart from this sooner, they are introducing a ﬁn-tech digital platform which accomplishes the business cycle of an Entrepreneur. It brings buyers, sellers, investors, mentors, incubators, accelerators & Franchisors under one roof.
with analytics and study done by an extremely experienced Real Estate Brains. • Mortgage Advisory and Debt RestructuringSareStates eases up the borrowing process for client’s right from assisting them to choose the right product & the right bank.
Their domain services includeComprehensive Services Oﬀered By SareStates SareStates Organization is advising personalized guidance to home buyers by understanding anticipating & satisfying needs along with their expectations. They are rebuilding a business structure by launching modern & innovative services which will signiﬁcantly reduce the gap between developers www.theenterpriseworld.com
Futuristic approach of SareStates • Residential and Commercial Property AdvisorySareStates assists is the best platform for our clients to choose from the best of the registered properties on oﬀer by Cat-A Developers. • Real Estate Valuation and ResearchSareStates backs its consultation
SareStates desires to capture global market by expanding their business horizontally & vertically. They aim to build their brand image globally as a most trusted & preferred leader. SareStates intends to establish comprehensive services from
acquiring land to selling the project of developers to have a complete solution. They are also working on a start-up on business eco system development which will cover entrepreneur’s business cycle. This platform is going to guide start-ups as well as established businesses for their 360 degree needs.
Their proﬁcient sales team is one of the best among competitors having industry knowledge & analysis which helps to guide the home buyers unbiased.
change & innovation through our quality services apart from that win the trust of home buyers with dedication, honesty, integrity and transparency.”
Soon, they will be introducing vastu services and measurement services to the home buyers.
Corporate Real estate advisory will have greater role to play in coming times as small local players will either die or will become the associate of the large entity.
Enthusiastic team with collaborative culture
They envision transforming the Real estate industry by empowering and delivering for positive change and innovation that rediscovers the quality of services. To have a customer centric approach with highest level of satisfaction coupled with pro-active and passionate team to achieve the goals Building trust through exploring and integrating with dedication, honesty, integrity and transparency.
SareStates aims to expand their presence across metro cities with multifold growth. Also they intend to start their operation under the sub-brand of SareStates Global to sell overseas projects. SareStates is planning to have Series A funding to expanding their business. SareStates wants to be recognized as the Property Doctor, and not just a Realtor by providing end to end solutions coupled with optimal utilization of technology.
Their approach towards their clients & partners speak louder than words. At SareStates, they bridge the gap between their clients & partners by creating CLEAR, TRANSPARENT & ROI DRIVEN deals. Their Culture is purely based on Transparency, Ethics, Integrity and Team Work. Transparency among the teammates is always their top priority. Ethics & Integrity are foundation of the leadership. “We want to transform the real estate Industry by delivering
BUYING REAL ESTATE IS NOT ONLY THE BEST WAY, THE QUICKEST WAY, THE SAFEST WAY, BUT THE ONLY WAY TO BECOME WEALTHY.
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Country operations and payment processing.
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Anti-fraud tools, mobile-ready, real-time consolidated reports, big data.
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High service uptime of 99.9%+ and high performance.
Local account and risk operation support as well as 24x7 technical support in 15+ countries and regions.
What B2C Can Learn from B2B
s we all know, marketing is something that involves a broader range of services, where the ultimate goal is sales. Marketing strategies work with two marketing models- B2B and B2C. While both the models' ultimate strategy is sales, it doesn't make the both similar. B2B is short for Business to Business, and as the name is, it is a commercial transaction where the purchase and sell of business goods is performed between business houses. B2C, which is short for Business to Customer, and like the name suggests, it is the business model where the business sell the goods and services to the ﬁnal customers. Here are a few things B2C marketers can learn from B2B marketers. • Smart Customer Acquisition For customer acquisition, B2C companies rely on advertising; and lots of it. They keep spending to bring in the same customer over
and over. Instead what they can do is use the tools that are available to bring in a customer once and also keep them coming back.
the customer about their preferences. It can provide valuable information for the segmentation eﬀorts.
Easier solution to this is pop-up sign-up forms. But you need to make sure to place the pop-up in the right place. So the next time when someone visits your store, you need to make sure that they know about the online shopping options you provide.
• Oﬀering Problem Solving as a Way to Attract Prospects Most of the times attracting prospects in B2C marketing is about the deals and discounts. As opposed to this, in the B2B market, the prospecting model involves providing a solution to a business problem. Practically, this is what content marketing is. This involves preparing an educational, an objective or non-sales material that will address the problem of the customer. For the B2B marketing models it can be white paper, a research report or an infographic. For the B2C marketing models it could be in the form of a recipe book, a blog or a how-to video. Such tools of marketing can be used as a means of motivational oﬀer to generate leads and to establish leadership and stimulate the viral sharing.
• Engaging the Customer If the customers have signed up for the emails or text messages, it means that they are interested in you. So you can start this relationship on a better note. Introduce your customers to a welcome series, this will not only get the customers to buy something, but will also introduce them to your brand. But these welcome series can't be one-size-ﬁts-all; i.e. you can't expect one strategy to work for all the customers. It can be diﬀerent for the customers who have purchased the product right away and diﬀerent for the customers still deciding to buy. You can also ask
• Nurturing Your Customers B2B marketers are the best at doing this; they recognize that 45% of inquiries in a business category will go on to buy in the same category. This is what they call the Rule 45. B2B marketers have thus created elaborate systems of outbound contacts with which they stay in touch of the customers until they are ready to buy the product. Although the B2C marketers do know this and enjoy prospect universes that are 10 times more than that of the B2B marketers. B2C marketers, instead of nurturing the same customer are tempted to move on to the next customer, and generally treat every inquirer as their last.
Raghukul Constructions Pvt. Ltd. Building Dreams with Beams
young graduate civil engineer, Shri Dilip Bharade in his early thirties, driven by a passion of starting something of his own, with no ﬁnancial backing and family legacy, clueless but conﬁdent, shaped some vivid concepts and pictures at his heart and waited for his opportunity which came in the year 1989 when a small piece of land well negotiated in a barter, to commence the Raghukul Constructions in his mother’s name Nalini Bharade. In a talk with Shri Dilip Bharade lets discover more about Raghukul constructions Pvt. Ltd and his views about the real estate industry’s current scenario. • Tell us about the Company My family members joined the activity to form a partnership ﬁrm which then grew to Raghukul Constructions Pvt. Ltd. which is registered under companies act 1961 and has an oﬃce at Bajaj Nagar Nagpur. The Company has three directors namely, Dilip Bharade, Maithili Bharade, Govind Bharade, and Shri. Sandeep Shelgaonkar as CEO. The company is mainly engaged in real estate development in the city of Nagpur. • What were the initial challenges you faced? A ﬁrst-generation entrepreneur always faces multiple challenges during the initial phase. Owing to sound knowledge, planning,
techno-managerial skills, and the highest possible attention to the micro as well as macro details, we converted each challenge into an opportunity to learn and grow. Still, we feel that in the initial stage, the ﬁrst challenge is to have the right mindset and second is that of funding. We recollect old times when the concept of entrepreneurship was diﬃcult to digest in the average middle-class families and any such idea was not welcomed. • Which was the point that triggered the growth of the Company? I always feel that growth is a twofold process, one part governing the scenario is within yourself at a subconscious level and another is the outcome, in terms of turnover, magnitude, public image, and volumes. After completion of some projects, in 1996-1997, we made good land deals in the heart of the city. It saw remarkable growth in magnitudes and Raghukul started getting seen as a potential name in the realty sector in Nagpur. • What is the reason behind your company’s long-standing success? I try to be humble in saying that the whatever the company could do till date is an outcome of consistency and sustenance in commencement and completion of the projects and with due regards, I am afraid to call it as a long-standing success since, success is a very relative term and
diﬃcult to gauge and measure in the eyes of those who engage themselves in an evaluating others in terms of volumes and magnitudes. • What are the products/services the company focuses on? Raghukul works in the real estate development industry and is engaged in the construction of ﬂats and sale. We all know that for an individual buying a home is a lifetime investment. Raghukul understands the value of hardearned money of home buyers and respects the sentiments associated with it. • How do you decide to take the Company a step further in terms of your products /services? We believe in sustained growth and are one of the few who prefer being realistic in the real estate sector. We construct two, three and fourbedroom residential apartments in the heart and outskirts of the city. Our domain of area varies from ﬂats of 1000sft to 4200sft of ﬂat size. A pie graph denotes the ﬂat areas segment completed to date. • How do you think is the real estate market evolving? Every activity has a cycle of ups and downs. At present, the real estate sector is at its low. However, there are genuine buyers and endusers whose demand is perpetual. Due to some reforms like RERA, GST, demonetization the realty sector had to take the hit and as a
Interview with The Enterprise World
Dilip Bharade Director
‘‘ Health is the greatest possession, Contentment is the greatest treasure, Condence is the greatest friend. Non-being is the greatest joy. - Lao Tzu, the Chinese philosopher www.theenterpriseworld.com
result, it is not seen as a potential investment destination. The government revenue share from real estate has now gone approximately up to 35%, out of which 12% is borne by the buyer and rest is left to the developer. • Which are the new areas that are being explored in the real estate market? There is huge technological advancement in the ﬁeld of building construction. Pre-stressed or Post stressed construction practices with composite structures and use of ready mix concrete are proving to be game-changers. Concept of green building is also picking up and rainwater harvesting is helping restoration of groundwater levels
• What do you think are the responsibilities of an entrepreneur? According to me following are the responsibilities of an entrepreneur • To understand that he/she is not a traditional businessman • He carries a social responsibility to share his\her knowledge, technical expertise, and experience • He has to be innovative, technosavvy and courageous • The very important responsibility that an entrepreneur should be humble
alternate double-height terraces in D.C.R. but we planned the building so that every unit got attached terraces. We have been pioneers in the construction of three and fourbedroom apartments in the Shivaji Nagar area.
• What are the key achievements of your entrepreneurial journey? The key achievements of the professional journey include the construction of two-bedroom terrace ﬂats in the outskirts of the city when there was no provision of
Interview with The Enterprise World We have recently completed redevelopment projects named Smruti and AmritKalash and undertaken a 17 storied high rise building named Kanchan Geet in Shivaji Nagar Nagpur. This happens to be the tallest building in this area.
ft. was entered at the initial payment of Rs. 21000/only.
Sustained Growth of Raghukul 2018
• How do you look after your employees? What makes your team unique? An important aspect here at Raghukul is a healthy and stressfree working environment. The basic needs of each individual are being taken care of by human considerations apart from perks, privileges, and packages. The dedication and devotion of the team are exemplary and appreciable. There is no employer/employee relationship, hence everybody has a peculiar feel of belonging for Raghukul which makes the team unique. • Is there any special experience with your clients you would like to highlight? There are too many experiences in the journey so far but the most important would like to mention that there are at least ten to ﬁfteen families who have been given help, morale boost, courage, and assurance to buy a ﬂat which they liked most but had no ﬁnancial provisions initially. Our landmark super luxurious building Shri Mohini Raj commenced with earnest money of just Rs. 10 lakhs to the owners which are an exception in itself. One of the landowners vacated the premises and handed over keys for development just on a verbal agreement. One of the land development agreements of around 12000 sq. www.theenterpriseworld.com
Turnover in mul ples of Rs 50 lakh
• Can you tell us which your favourite book is? I have read and continue reading books in the wide spectrum of ﬁction, non-ﬁction, philosophy, and spirituality. But, my concentration is more on the spiritual reading and the one which I like most is “Shri Bhagwat Geeta”, which teaches the philosophy of life and I try to focus on implementing those principles in my everyday routine. My sincere request to all budding and contemporary entrepreneurs to read and understand tenets of “Geeta” as life technique and “Dasbodh” by Shri. Samarth Ramdas Swami as a management guide. • One person whom you admire most? I have a list of persons to admire, from my parents, family, colleagues, and friends, all of whom distinctly contributed to my journey and is diﬃcult to choose one from them. Even then I admire my wife Mrs. Maithili Bharade most of who have been with me all the time and counted on her words in tricky and tense situations. However, I strongly feel and experience the support of DIVINE POWER without which I would have been nowhere: Therefore, my all admirations are for the ultimate
• Whose business story do you ﬁnd the most inspiring? The great Ratan Tata’, whose business story inspires me a lot. He is a visionary, humble, simple and a man of values and known for humanity. As a perfect decisionmaker and risk-taker, he is my inspiration. • Is Constant Vigilance a need or strategy? In the real estate sector, once the plan, speciﬁcations, processes, and procedures are laid down for a project, vigilance is a must as regards quality, cost analysis, schedule, and customer’s requirements and satisfaction. A small mistake on neglect at any of these points lead to dissatisfaction and misunderstanding and confrontation • It’s rat race out there, how do you cope with that? True it’s a rat race out there, But I humbly submit that Raghukul is nowhere in any such rat race rather it focusses on being superior to its former self. Hence, Raghukul’s race is not with others but with itself. Unhealthy competition does not augur well for the industry and leads to vicious circles of ﬁnancial hardships.
Indian Housing A Good Hedge in Troubled Times for NRI Investors • Other traditional investment instruments from equities to Fds and PPF to NSC have lost their sheen • No other Indian industry is as heavily incentivized as housing – the Government of India has a critical political target to meet in 46
its Housing for All by 2022 promise • The top 7 cities saw housing sales rise by 32% in H1 2019 as against the corresponding period a year ago The Indian real estate market right now stands in equilibrium as prices
are stable across most cities in India. However, this is slated to change in the medium to long term as demand should outweigh supply over the next few years, primarily due to decline in residential launches. Sales have, in fact, overshadowed new launches in the past 4-5 quarters - signalling the December 2019
Expert’s View How Indians’ Favourite Investment Routes are Faring Equities, PO schemes and banking products are in a growth crisis. Asset classes like equity stocks, government bonds, post oﬃce schemes, savings on bank deposits and bank ﬁxed deposits are all in a downward spiral. India’s macroeconomic indicators have been headed southwards. Along with the downgrading of India’s rating and investment outlook by global ratings agencies and associations, the overall economic sentiment remains weak. The IMF has also downgraded India’s growth forecast by 0.3% from 7.5% in April’19 to 7.2% primarily due to the slump in investment and consumer demand and mounting disinﬂationary pressures. Another rating agency Moody’s has cautioned that India’s economic progress over the next couple of years will be weaker than in previous years. This might increase non-performing loans (NPLs) including personal credit defaults (credit card, personal loans, etc.) and cause further dampening of overall consumption volumes.
revival of the sector. The RBI reducing the repo rate by another 35 basis points in August 2019 will bring down interest rates on home loans, which should boost demand in the sector. Equities have also not been performing well in the last 3 quarters or so, making real estate lucrative for investors to park their investible surplus. www.theenterpriseworld.com
• The equity market has a bearish outlook with most Blue-Chip and Mid-Cap stock values declining and foreign investors withdrawing investments from the stock market. The majority of the portfolio management services have had negative monthly returns in June, lending a sombre outlook of the overall equity market. • Most public sector banks like SBI have cut interest rates on ﬁxed deposits, which means the yield on maturity will decline for FD
investors. Other BFSI products like 10-year government bonds have also witnessed rate cuts. • Interest rates on popular savings schemes like Public Provident Fund and National Savings Certiﬁcates have also been lowered, which can reduce the attractiveness of these schemes. • Agriculture has witnessed tepid growth in the recent times. An erratic monsoon this year has hit the agriculture sector hard with nil to negative growth expected in the short to medium terms. While agriculture is not really an investment asset class for most, the performance of the agriculture sector is nevertheless a macroeconomic indicator in a country like India. • Growth in the automobile sector is almost nil and the industry is facing its biggest growth crisis in recent future. Even at the best of times, automobiles are depreciating assets and therefore not suitable investment instruments. • Surprisingly, gold has had a bull run in recent times following the Federal rate cut, escalating trade tensions between US and China and the depreciating rupee value against dollar. The yellow metal’s prices have hit an all-time high and have crossed the INR 38,000 mark for 10gm of 24K gold. However, despite this rise, unlike in previous times, investors are increasingly sceptical on its lustre because in today’s changing times more and more people have access to modern ﬁnancial systems that oﬀer a variety of asset classes for investment. Thus, gold – now being considered a dead asset by many –
is largely attractive to those who are still not aware of or don’t have access to other ﬁnancial asset classes. Real Estate – A Good Hedge in Troubled Times Indian real estate is still a viable and fairly safe long-term investment option. Investors with a short-term view on ‘instant returns’ need to look elsewhere, but most other asset classes are quite volatile in nature and will continue to remain so. Indian residential real estate is a long-time favourite of resident Indians and NRIs, and recent trends suggest a positive outlook for this asset class going forward. Property prices have bottomed out and cannot possibly reduce further, especially since construction costs are gradually heading north. That aside, both the government and the RBI are making concerted eﬀorts via various sops and incentives to revive Indian housing demand and thus boost homebuyers’ conﬁdence. Other than the tax sops doled out in the Union Budget, there have been four successive rates cuts by the country’s apex bank which is ultimately aiding commercial banks to reduce home loan rates for prospective buyers. Thus, it is an opportune time for prospective buyers to take the plunge in the Indian residential market across budget segments, be it for end-use or for investment. To illustrate in numbers, the top 7 cities saw housing sales rise by 32% in H1 2019 as against the corresponding period a year ago. Indian housing sales stood at 1.11 lakh units in H1 2018 which 48
increased to 1.47 lakh units in the ﬁrst half of 2019. Interestingly, MMR, Pune and NCR were the top three markets to witness the maximum yearly increase in housing sales – 62%, 50% and 31% respectively. During the same period, unsold housing inventory saw yearly decline of 5% across these top cities. To Cut to the Chase
build some of India’s best-known brands. He has marketing and sales expertise in the Real Estate, Banking & Financial Services, Travel & Aviation, FMCG and Retail consulting verticals. Prior to joining ANAROCK, Shajai was attached to several prominent organisations such as an international property consultancy, YES BANK, Kingﬁsher Airlines, Hindustan Unilever and Barista Coﬀee.
Given the lacklustre performance of the equity markets and other allseason investment favourites, disposable income is not exactly spoiled for choice when it comes to proﬁtable investment avenues today. Real estate is, at the present, a very viable and attractive bet for long-term investors if they can read the market signs that favour this sector. No other Indian industry is as heavily incentivized as housing – the Government of India has a critical political target to meet in its Housing for All by 2022 promise. Only recently, even more impetus was provided to the real sector when the National Housing Bank pumped Rs. 10,000 Cr. into the housing ﬁnance companies. This is expected to ease out the liquidity crisis of the NBFCs. For investors who believe in the time-tested adage ‘invest at the lower end of the growth curve and sell at the top’, the timing is perfect now for investing in Indian real estate. About the author: Shajai Jacob is CEO - GCC (Middle East) at ANAROCK Property Consultants. With over 19 years’ experience, he has helped December 2019
A New Approach To Modern Living www.panchshil.com
NERVES OF STEEL
At a Glance
DIAMOND BY THE SEA
29-year-old Jamsetji Nusserwanji Tata starts a trading company in 1868 with a capital of ₹21,000 — the early beginnings of what would one day become the Tata group. Since the inception TATAs spread their wings of business around the globe. There is no such business sector where TATA is not present. Tata group is strongly processing in Steel, Cosmetics, Oil, Salt, Automotive, Food, Beverages, and many more sectors. The Taj Mahal Palace Hotel by TATA is a ﬁve-star hotel located at the place called Colaba in Mumbai, near the Gateway of India. The Taj Mahal Hotel is a 104-year-old building, a part of the Taj Hotel Resorts & Palace, the building is considered to be the ﬂagship property of the group, which consists of 560 rooms and 44 suites. People coming from abroad also like the Taj Mahal Hotel located near the Gateway of India, it attracts people with the beauty of the building. The Tata group is always at the forefront in terms of public health. In 2011, Ratan Tata inaugurated Tata Medical Centre, comprehensive cancer care and treatment facility designed specially to serve the poor in the region. Starbucks, a most loved coﬀee joint welcomed in India by coﬀee lovers in 2012. It is a 50:50 joint venture of Tata Global Beverages and Starbucks Corporation. The group charts course for its newest aviation adventure in 2014. AirAsia India, a JV with popular, low-cost airline AirAsia Berhad, 52
begins operations. The organization follows up that improvement with vistara, Tata sons' JV with Singapore airlines. It celebrates ﬂying 1 million customers that same year. In 2017, the board of directors appointed N. Chandrasekaran, CEO and MD at TCS since 2009 as Chairman of Tata Sons. In that same year, TCS and Cornell Tech inaugurate the Tata Innovation Centre to promote joint academic and industry research, following a $50 million investment by TCS. Tata Steel and ThyssenKrupp sign a landmark JV in 2018 to create a new, strong Pan-European steel champion that is structurally robust and competitive. 2018 was a fantastic year for TCS as it becomes the ﬁrst listed Indian IT company to reach $100 billion in market capitalization, ushering in a new phase of growth for India Inc. In December 2019, according to Indian Law Cyrus Mistry became chairman of Tata Sons who is mostly the Chairman of Tata Group. But it is not yet conﬁrmed by the Tata Group. More than a century ago, the visionary Jamsetji Nusserwanji Tata, resolved to provide pollutionfree, clean power to Mumbai, a city that was choking on the fumes of the boilers of textile mills. He dreamed of, and inspired, the setting up of one of the ﬁrst hydroelectric power plants in the Western Ghats, with a hydel dam that would harness the power of ﬂowing water to create electricity. The task was nothing short of
daunting, considering the terrain of the Western Ghats. Tata Motors, Wheels that Moves India! Tata Motors Limited, which was formerly known as the Tata Engineering and Locomotive Company (TELCO), is the Indian multinational automotive company with its headquarters in Mumbai, Maharashtra. The company is a part of the Tata Group, which is an Indian conglomerate. The products of Tata Motors include passenger cars, trucks, vans, buses, sports cars, construction equipment, and military vehicle. Tata Motors was founded in 1945 as manufacturers of locomotives. Although their ﬁrst commercial vehicle was manufactured in 1954, which was in collaboration with Daimler-Benz AG, which was put to an end in 1969. In 1988, Tata Motors entered the passenger vehicle market when they launched Tata Mobile, later followed by the launch of the Tata Sierra in 1991. The launch of these vehicles proved that Tata had the capability to develop the indigenous automobile. In due course, Tata also launched the Tata Estate. 1998 was the year when Tata launched its ﬁrst fully indigenous passenger car, the Indica. The car was criticized by many analysts, but with its excellent fuel economy, a powerful engine, and its dynamic marketing strategy made Indica one of the best selling cars in the history of Indian automobiles. In the year 2004 Tata went on to acquire Daewoo’s South-Korea based truck manufacturing December 2019
At a Glance company, which they later renamed as Tata Daewoo. In the same year, Ratan Tata, the Chairman of Tata made a debut in the New York Stock Exchange and marked the listing of Tata Motors. Following this, in the year 2006, Tata formed a joint venture with Marcopolo, which is a Brazil-based company, and launched a line of Tata Marcopolo Bus, which were fully built buses and coaches. In the year 2008, Tata launched Tata Nano, which was also the world's cheapest car. 2008 was also the year when Tata purchased Jaguar Land Rover from Ford. With the dawn of the year 2010, Tata Motors acquired an 80% stake in Trilix, which is an Italian design and engineering company, for a whopping amount of â‚Ź1.85 million. With this acquisition, Tata formed part of the companyâ€™s plan to add to its styling and design capabilities. Tata Motors announced an investment of 6 billion rupees in the development of Futuristic Infantry Combat Vehicles, which was in collaboration with the DRDO.
TURNING DREAMS INTO REALITY
Founded by Mr. Suresh Ajmera in 1980, Vasupujya Corporation has developed more than 1000 homes across Pune and Mumbai and still counting. The Company Vasupujya Corporation was founded by Mr. Suresh Ajmera, a stalwart in the plumbing industry, who started real estate development in 1980. Today, it is helmed by his sons Dhanesh and Siddharth, both civil engineers who excel at project planning and design.
only 1 large project at a time. This enables the management team to give their entire bandwidth to the project, thus ensuring the superlative customer experience. They are easily approachable at the project oﬃce or company oﬃce, in case customers want to reach out to them for any assistance. Most of their customers are the ﬁrst time
REAL ESTATE IS AN IMPERISHABLE ASSET, EVER-INCREASING IN VALUE. IT IS THE MOST SOLID SECURITY THAT HUMAN INGENUITY HAS DEVISED. IT IS THE BASIS OF ALL SECURITY AND ABOUT THE ONLY INDESTRUCTIBLE SECURITY
he only mindful investment in today’s world is an investment in ﬁxed assets. Everyone lives with a dream to own a house. To make dreams turn into reality, Vasupujya Corporation provides modern homes with amenities that promote a better community living at aﬀordable prices.
- RUSSELL SAGE
In 2012, his grandson - Rahul Ajmera, a civil engineer from IIT Bombay, joined the company ranks and handles project execution and delivery.
home buyers and Vasupujya Corporation want their experience to be as delightful as possible.
Vasupujya Corporation has a unique way of doing business. They develop only self-owned lands (No JVs or JDs) and focus on
What They Oﬀer Vasupujya Corporation focuses on developing mid-range apartments for ﬁrst-time home buyers and has delivered over 1000 such homes in
the last two decades. They just delivered 270 homes at Neco SkyPark at Pimple Nilakh Pune, where they provided two 15,000 sqft. Terrace sky gardens. They strive to achieve a balance between project viability and product quality. Vasupujya Corporation has done the usual bit towards reducing our carbon footprint by using Fly Ash during construction and providing Solar Water Heaters, LED lights, Wet Waste Composting Unit and Sewage Water Treatment Plant, but they wanted to do something more for the buyer. They were inspired by the design of the Marina Bay Sands Hotel in Singapore and designed buildings such that they shared a common rooftop terrace, where they created a walking sky garden - SkyPark. Vasupujya Corporation doesn’t believe in providing namesake amenities, which would be diﬃcult to maintain, their oﬀerings are practical and focused on customer’s ease of use. They didn’t want plantations on the roof ﬂoor in the guise of aesthetics at the risk of damaging the water-prooﬁng so we planted hundreds of large potted trees and ﬂowering bushes, which are much easier to maintain and do not aﬀect the water-prooﬁng or building structure. In their projects, they are using recycled sewage December 2019
The Prime Leading Real Estate Brands
RAHUL AJMERA PARTNER
water and wet waste compost fertilizer, all generated within the housing project itself. The terrace garden today is a sanctuary for residents, sparrows, and butterﬂies alike. They are growing fruits and vegetables like Pomegranates, Chikoos, Lemons, Tomatoes, Lemongrass which is a delight for all residents. Circulating the terrace garden is a rubber walking track that covers 250 meters in one round, which provides comfort for senior citizens. This is Vasupujya Corporation’s endeavour to create projects that are “Oxygen Positive” and provide an environment that enriches the resident’s mental and physical health. Besides this, they have more than 300 fully grown trees planted around the periphery of the project that creates a protective envelope. Vasupujya Corporation has just launched an aﬀordable housing project – Neco Beaumont near NIBM, Pune. The NIBMMohammadwadi-Undri area boasts of the best schools in Pune, with proximity to IT SEZs like www.theenterpriseworld.com
Magarpatta and SP Infocity. Hopefully, once the new International Airport at Purandar comes up, we can expect to see tremendous development in these areas. Vasupujya Corporation’s proposed project is adjacent to 70 lakh sqft of forest and park reservation, which will act as a green lung for all residents. Vasupujya Corporation is also starting a redevelopment project at Matunga, Mumbai, which is one of Mumbai’s most sought after locations due to the excellent social infrastructure and greenery around. About The Real Estate Market The real estate industry is getting more organized with the advent of RERA and the rise of Social Media Activism. Only professionally sound real estate developers will remain in the industry in the future. Due to GST on under-construction properties, buyers are showing a clear preference to ready to move in properties, which adds pressure to the project’s cash ﬂows. The newer generation of buyers is over-
exposed to information and hence more confused, which delays their buying decision and making sales today more challenging than earlier. We expect housing supply and pricing to stabilize just to meet the actual buyer’s demands in the short run, while we expect verticals like Co-Living and Shared Accommodation to become popular among investors in the long run. Professional Experience Vasupujya Corporation is a real estate development ﬁrm with civil engineers at the helm. It matters to have technically sound people leading the organization. Mr. Rahul Ajmera is graduated as a civil engineer from IIT Bombay in 2012. He has experience in the construction and ﬁnancial valuation industry after his stint at Shapoorji Pallonji Engineering & Construction as Deputy Manager Planning and at RBSA Advisors as an Associate. He also has entrepreneurial experience, having co-founded a start-up - 1920aur21, which was a unique e-commerce portal catering exclusively to 55
college campuses, subsequently acquired by mSauda in 2013. Mr. Rahul also provides Real Estate Data Analytics for projects in Maharashtra under the ﬁrm name AREA Foresight, assisting real estate developers decide on their ﬁnal product sizes/prices before launch as well as providing the government itself with data to aid policy formulation. About The Team Vasupujya Corporation is a closeknit family of 30 employees, with most of the staﬀ have been with them for over 10 years and a very minimal attrition rate. They provide employees with social and ﬁnancial support such as Subsidized Housing, Health/Accident Insurance, Maternity Beneﬁts, etc. At the construction site, they empower the staﬀ to take control of the project as owners themselves, instead of giving them a rigid role. This allows them to work freely and wholeheartedly across
verticals. Vasupujya Corporation is also open to implementing positive suggestions from anyone, be it a customer or even a security guard. The team is unique because no one is allowed to boss over another at work, everyone’s opinion is sought, valued and they encourage thoughtful discussions before taking decisions. The Uniqueness What sets Vasupujya Corporation apart is that they are completely approachable by all customers at the project site. The advantage of having a builder, who is personally present at the construction project, is something that existing customers rave about. They understand that people are spending their life savings in buying this product and the builder should empathize with his customers for their issues. We are always available to the customer in making extra changes at home or providing after-sales service. Our impeccable
and personalized service is what sets us apart and that helps us get repeat customers. More than an Entrepreneur While talking with Mr. Rahul Ajmera, he said that he loves reading various books based on diﬀerent genres. He stated, “I love the book – Thinking, Fast and Slow by renowned Nobel Memorial Prize in Economic Sciences laureate Daniel Kahneman. It deals with the psychology of judgment and decision-making, as well as behavioural economics” Steve Jobs inspires him a lot. He was a true visionary, having created revolutionary consumer products, with complete focus on his customers and making life easy for them. This is something that most entrepreneurs don’t focus on today – The Customer and Product User Experience.
INNOVATION, BEYOND IMAGINATION
We focus to provide solutions that offer a unique user experience and a unique way of using the different videoconferencing and meeting applications while maximizing interaction and collaboration.
Town Planning in India W
e love a particular village or town. Think about why we like it. Not only do beautiful buildings make the city beautiful, but also the roads and their structures, sidewalks, trees and greenery, other elements of the road such as lamps, furniture like benches, information signs, bus stops, trash cans, etc. Beautiful buildings, residential as well as commercial complexes makes a city beautiful place to live.
Each city has a unique image. This image deals with various elements and features of the town structure. Such an image is especially useful when designing the actual design of the city's development, as well as the detailed design of various sections. The location and context of the citizen’s mind on various factors can be a guide when it comes to empowerment or change. A development project can make a big diﬀerence to the city’s image. In India, the importance of city planning was realized in the post-independence period. Keeping in mind the huge demand for industrial, commercial, residential and recreational activities on urban land, the need for scientiﬁc principles governing the distribution of land for various works was underlined. In view of future traﬃc density, wide roads were constructed. The height of the buildings was determined according to the width of the roads so as to provide an artistic aspect to the human surroundings. In addition, a proper balance was also laid between the construction and open spaces. Land use plans of cities are prepared by the Town Planning Authority and various areas are demarcated for speciﬁc land use. These schemes include provisions related to adequate road width, open spaces or basic amenities (water, electricity, schools, hospitals, etc.). Keeping in view the revenue generating capacity and economic importance of major metros, priority should be given to the development of specialized infrastructure in these cities. For www.theenterpriseworld.com
this purpose, a megacity scheme was started in 1993-94, which was recommended by the National Urbanization Commission. The scheme was implemented in Mumbai, Kolkata, Chennai, Bangalore and Hyderabad. The main thrust of the plan was on the development of infrastructure. The development of slums in urban areas has become a complex problem. These settlements are continuously developing around industrial areas, railway lines, ports, river banks, wholesale markets etc. The largest expansion of slums is in metros. Dharavi, near Mumbai, is Asia’s most extensive slum. Slum houses are generally raw, made of brick, clay, tarpaulin, tinshed, bamboo, etc. The living space does not exceed 10 square meters in which most of the household items are also stored. Bathing, cooking and sleeping are mostly in open spaces. For every 10 lakh additional housing units, 6 thousand hectares of land is required. The Urban Land (Ceiling and Regulation) Act, 1976 was passed by the government for this purpose. This Act applies in all the provinces except Jammu and Kashmir, Kerala, Nagaland and Sikkim. Tamil Nadu enacted its own separate act in 1978. This act prevented the concentration of urban land in the hands of some people. Equitable distribution of urban land was ensured for general use by controlling betting and proﬁteering.
collaboration with private builders and land brokers. Housing in these suburbs has expanded at the expense of agricultural land. nd
India is the country with 2 highest number of urban population in the world after China. The boom in the rate of urban population growth came largely due to migration and population growth. This resulted in various socio-economic and environmental problems Indian economy is growing rapidly. Such massive forward-looking growth will come from secondary and tertiary sectors, which are industrial and service sectors. Economic activity in these areas started primarily in urban areas. The condition of our cities and towns is very important in India's development. Whether it is about metropolitan cities or to develop old cities in a new look, urban planners do such projects well. They plan to make the city beautiful with their team. As townships and smart cities are increasingly working nowadays, the scope has increased in this ﬁeld. You can start as an Associate Town Planner in government agencies, such as Town and Country Planning Department, Housing Boards, Urban Bodies, Urban Development Authority, District and Rural Planning Department. One driven by passion in the ﬁeld of town planning can also start with private companies or property ﬁrms, real estate ﬁrms, social agencies, non-proﬁt housing groups and international consulting companies.
Suburbs have been developed by various governments in 59
AB SE TYRE MEIN SIRF
JK IS OK
preserving data ecosystems
PROVIDING SOLUTIONS TO PROTECT, STORE, SHARE AND RECOVER DATA. • Incremental and automatic ﬁle migration between heterogeneous storage • Operational storage during the migration with reduced impact on production • Automatic control of the integrity of migrated ﬁles • Performance tuning by simply adding or removing Data Movers • Single platform for securing new storage
The Prime Leading Real Estate Brands features the stories companies that are turning people’s realty dreams to reality and are widely apprec...
Published on Jan 14, 2020
The Prime Leading Real Estate Brands features the stories companies that are turning people’s realty dreams to reality and are widely apprec...