Moguls of Real Estate

Manoj Namburu

Description

Vivid and detailed, Moguls of Real Estate aims to preserve for posterity the business biographies of five of the most successful leaders of the real estate industry in India - KP Singh of DLF, Niranjan Hiranandani of Hiranandani Constructions, Sushil Ansal of Ansal API, Shapoor Pallonji Mistry of Shapoorji Pallonji & Co. Ltd. and Irfan Razack of Prestige Group. The book examines their lives closely and reveals how they overcame obstacles, forged their own management philosophies and revolutionized the business world. It celebrates their larger than life ambition, inspired leadership and hard work. The book traces the growth - including the highs and lows - of the Indian real estate market and is as much for general readers as for those particularly interested in the Indian real estate industry.

Sujets

• Real Estate
• Biography
• Industry
• Business
• Autobiography
• DLF
• India

Informations

• Publié par: Roli Books
• Date de parution: 01 octobre 2007
• Nombre de lectures: 0
• EAN13: 9789351940746
• Langue: English

Extrait

About the book
Vivid and detailed, Moguls of Real Estate aims to preserve for posterity the business biographies of five of the most successful leaders of the real estate industry in India - KP Singh of DLF, Niranjan Hiranandani of Hiranandani Constructions, Sushil Ansal of Ansal API, Shapoor Pallonji Mistry of Shapoorji Pallonji & Co. Ltd. and Irfan Razack of Prestige Group.
The book examines their lives closely and reveals how they overcame obstacles, forged their own management philosophies and revolutionized the business world. It celebrates their larger than life ambition, inspired leadership and hard work. The book traces the growth – including the highs and lows – of the Indian real estate market and is as much for general readers as for those particularly interested in the Indian real estate industry.

ROLI BOOKS
This digital edition published in 2015
First published in 2007 by The Lotus Collection An Imprint of Roli Books Pvt. Ltd M-75, Greater Kailash- II Market New Delhi 110 048 Phone: ++91 (011) 40682000 Email: [e-mail] Website: www.rolibooks.com
Copyright © Manoj Namburu, 2007
No part of this publication may be reproduced, transmitted, or stored in a retrieval system, in any form or by any means, whether electronic, mechanical, print reproduction, recording or otherwise, without the prior permission of Roli Books. Any unauthorized distribution of this e-book may be considered a direct infringement of copyright and those responsible may be liable in law accordingly.
eISBN: 978-93-5194-074-6
Cover Design: Supriya Saran Pictures Courtesy: K. Sriram
All rights reserved. This e-book is sold subject to the condition that it shall not, by way of trade or otherwise, be lent, resold, hired out, or otherwise circulated, without the publisher’s prior consent, in any form or cover other than that in which it is published.
This book is dedicated to my mother Sulochana and father Mohan Rao, who have given the best part of their lives to bring us up as valuable citizens of this country. We have imbibed good values from them. They are the most encouraging parents any son can expect to have.
[ CONTENTS ]
Foreword
Acknowledgements
Introduction
KUSHAL PAL SINGH
Destined for Glory
Matrimony through Army Network
From Army to Business
First Management Lessons
Fresh Innings – Real Estate Beckons
Land Acquisition Challenges
GE – Jack Welch Effect
Cancellation of Licence
Family Matters
Sudden Transition
DLF Project Propel IT to No. 1 Spot
NIRANJAN HIRANANDANI
‘ A Signal from God ’
Early Learnings in Life
Successful Debut
Family Affairs
Jewel in the Crown
Working Style
Contribution to Real Estate and Society
Tested Mettle
Secret of Brand Success
Sushil Ansal
Trekking to Success
Family Background
Creating Brand Ansal
Looking Out Overseas
Dealing with Boom and Bust
Surviving a Downturn
Strategy and Properties
Vision of World-class Townships
SHAPOOR PALLONJI MISTRY
Chip off the Old Block
Building on Sound Foundation
Shapoorji Sr ’ s Vision
Boosting Sales
Worthy Son and Successor
Shapoor Breaks New Ground
SPCL ’ s Dream Projects
All-India Presence
IRFAN RAZACK
Bangalore ’ s Leading Mogul
Growing-up Years
The Magic of Shantiniketan
First Steps as a Developer
Bangalore: From Boom to Bust
Surging Ahead
Values and Beliefs
‘ Set and Go for Your Goals… ’
An Ambitious Roadmap
About the Author
[ FOREWORD ]
THE REAL ESTATE INDUSTRY IS AT THE CORE OF INDIA ’ S GROWTH story. The sector is booming with huge unmet demands, accelerating prices and increasing foreign investments. growth, expansion, buy-outs and deals are its buzzwords. favourable demographics and rapid economic development are driving the growth of the sector, making the country an attractive destination for property investors. Realizing its potential, the Indian government has proactively introduced reforms, thereby boosting the sector and drawing tremendous interest from global developers and investors.
In India, the real estate sector still remains largely fragmented with a huge number of regional players operating across the country. However, the realty business today lacks discipline, policies, control, governing bodies and processes. It needs a more strategic approach with greater focus on security, environmental issues, quality ratings and greater accountability from developers. over time, only developers who value quality in their projects will thrive while others will be weeded out of the system, making the realty market a more organized segment. Hopefully, the influx of funds will result in bringing in professional management teams into the system and help developers in India devise improved processes, systems and standard operating procedures.
Some other factors driving the real estate boom are soft interest rates on home loans, tax incentive on home loans and the uptrend in the Indian economy. With the metros reaching a saturation point, developers are now shifting their focus to the tier-two and tier-three cities. Here the population translates into different employee segments with different kinds of workplace and housing needs. As a result, the desire of middle-class Indians to own their own homes is no longer a distant dream.
A group of entrepreneurs have made a remarkable fortune in the subcontinent, and in the process have built the country ’ s strongest real estate brands. Their vision has put the Indian real estate market on the world map as a popular destination for global companies. It is only appropriate that we applaud and acknowledge the contributions of the sculptors of India ’ s real estate landscape.
It is my privilege to be able to contribute to a valuable work which is an extremely well-balanced synthesis of the lives of India ’ s real estate barons – KP Singh (DLF), Niranjan Hiranandani (Hiranandani Constructions), Sushil Ansal (AnsalAPI), Shapoor Pallonji Mistry (Shapoorji Pallonji & Co Ltd) and Irfan Razack (Prestige Group). The vision and experiences of these living legends are a true representation of India ’ s real estate story.
The book takes a comprehensive look at current issues and strategies prevailing in the real estate sector. Manoj Namburu lays out for us, in this book, a journey embarked upon by India ’ s real estate Moguls. It ’ s interesting to analyse these manifestations and reflect upon whether there is mind and message behind their lives, struggle and efforts. I am confident this book will serve as a useful reference for real estate developers, offering them general information and practical strategies for addressing various issues and problems.
Thank you, Manoj, for this valuable compendium on the real estate sector, which in many ways has served as a catalyst in fast-tracking the Indian growth saga.
Ganesh Raj
Ernst & Young India Real Estate Practice

INDIAN REAL ESTATE – CAN ONE REALLY SAY ENOUGH ABOUT IT ? The sector is vibrant with ceaseless transformation, innovation and activity. It is also a hard, demanding taskmaster. Many venture into it with stars in their eyes, but very few make any significant mark. Success smiles only on those with above-average insight and acumen … on people with progressive vision, uncommon courage and zeal.
The annals of the Indian real estate market do have their heroes. These men and women beheld the larger picture, then proceeded to add their own indelible brushstrokes. What differentiates them from their obscure contemporaries is a deep understanding of what makes this sector tick. They accepted the overall scenario with all its flaws, loopholes and inconsistencies, harnessed their resources and bravely put them on the line.
And this, finally, is the foundation of every success story. While many recognize the amazing potential of Indian real estate, few are willing to go all the way in helping shape its forward direction – and thereby its future. To carve a niche in this highly unorganized business arena is comparable to building on shifting desert sands. Impossible for most – yet those who succeed leave monumental pyramids in their wake.
In penning this treatise on the stalwarts of Indian real estate, Manoj Namburu has rendered a valuable service to Indian real estate corporate history. The living legends of this dynamic sector come to life within its pages, and I commend him on this exemplary biographic anthology. I am confident that Moguls of Real Estate will set a unique new benchmark, and I look forward to more such offerings from Mr Namburu ’ s fertile pen.
Anuj Puri
Trammell Crow Meghraj
[ ACKNOWLEDGEMENTS ]
I WOULD PARTICULARLY LIKE TO THANK MY EDITOR AND colleague, Sriram, for doing a wonderful job and making this book a reality. He has guided and encouraged me throughout the project. He has worked meticulously to bring the book to life. All credit goes to him.
A special thanks to Reena Lewis for helping me with the transcriptions and copy editing. And to Malini for her initial support.
My partner Suneel had the confidence in me and allowed me to travel at the cost of work to complete this rather long-drawn project. I acknowledge his contribution. Thanks are also due to all my colleagues at Alliance, who had to bear with my unavailability when I was researching for the book and travelled frequently.
My wife, Lata, deserves a special mention for encouraging me to do this book. Despite realizing early on that it is going to cut into a lot of quality family time, she kept motivating me to keep at it. Without her love, support and encouragement this book would not be a reality.
[ INTRODUCTION ]
THE YEN TO DO SOMETHING ‘ BETTER ’ , ‘ BIGGER ’ AND ‘ DIFFERENT ’ : that ’ s the most singular trait I discerned among five of India ’ s most successful real estate developers – KP Singh of DLF, Niranjan Hiranandani of Hiranandani Constructions, Sushil Ansal of AnsalAPI, Shapoor Pallonji of SPCL Group, Irfan Razack of Prestige Group. While re