Emami Realty has always been customer-centric, and designs every project where customers are not required to hunt for their requirements far from their homes says, Dr. Nitesh Kumar, CEO, Emami Realty
Dr. Kumar breaks down the nitty-gritty of real estate, what makes 2020 the most exciting year for the industry and new realty horizons to look forward to. Read on for excerpts from the conversation.
1. Please tell us how the performance of the year 2019 has been for Emami Realty? Also, what was the expectation at the beginning of 2019 vs the current reality?
Indian real estate is going through a tough time, striving its way to come out of the extended slump. Emami Realty has managed to keep its sales on an average of 70% in the year 2019. Our meticulous hard work, positive approaches from the government and working for customer satisfaction, attaining such numbers has been possible.
Expectations were low considering the market situation which was prevailing, but our constant efforts and innovative strategies bore fruit and we were the highest sellers in the higher ticket size over the entire period.
2. How much credit will you give technology for bringing in the change that we are witnessing in India’s real estate sector today?
Technology has given wings to real estate, right from the use of virtual marketing tools to the use of advanced construction techniques like MIVAN and also the use of robotics in construction has improved the quality and improved the timelines of delivery, bringing in customer delight. Mobile-centric technology has essentially transformed the landscape. Access to information, customer expectations, and client service are very different than they were even five years ago.
3. What technological tools has Emami Realty integrated into its different stages of procurement, construction, marketing, and sales to bring maximum automation in its processes?
We have gleefully indulged into technology, which within a short period of time has proved rewarding than expected. Technology has increased the construction quality standards and reduced the time taken to build the infrastructure. Things that once took months and years to build, can now be completed in weeks, without taking a toll on the project’s cost and labour.
- Innovative Technology viz.
- MIVAN Construction
- All our digital marketing and customer behaviour/satisfaction tools
- ORM (Online Reputation Management) to keep in touch with customers and attend to all complaints
- Use of CRM (Customer Relationship Management) on tablets to create seamless connectivity with customers, prospects and the sales team hierarchy
- Innovation in CPs (Channel Partners) involvement through technology where we offer direct lead maintaining and transfer to the CPs
- Innovative marketing campaigns like Assured Rentals in ready for possession properties to attract the investor community in a sluggish real estate market
- Excellent doorstep service to the existing customer
- Artificial Intelligence
- Smart homes
- Process automation
- Social media
4. Can you share 5 sets of numbers in terms of statistics that define your growth in 2019?
- Sales growth: 11%
- Collection: 300% approx.
- Manpower Growth – 12%
- Delivery of apartments and plots: More than 700
- Lowering cost – 8% approx.
5. What are the ways Emami Realty ensures that it is in continuous touch of its customers and is listening to their needs and requirements? In project planning stages, are these inputs a part of the discussion on the table?
Emami Realty has always been customer centric, and designs every project where customers are not required to hunt for their requirements far from their homes. Following the mantra “Maximum Amenity, Maximum Affordability”, we have always taken care of our customers’ sentiments. ORM / Customer portal / Active CRM Team out reach are the main avenues which we use for customer delight. There are year round programmes as our delivered projects nurture and we connect with our existing customers.
Customer feedback helps managing the scope that a future project will have in the market and also help in improving the present ones. All customer feedback is built into project planning strategies for our future projects. Some are also made part of existing/delivered projects to add value to the product and create brand loyalty and goodwill.
6. Where do you see Emami Realty heading towards 10 years down the line? What are its core focus areas and what kind of market will it cater to being premium, affordable, luxury, residential or commercial?
Emami Group, is a diversified business conglomerate enjoying a market valuation of approximately Rs. 500 billion, spread across 11 key businesses like aggrotech, papers, IT, biotech, AMRI Hospitals etc. with a global reach extending to 63 countries including India, GCC, UK, Sri Lanka, Bangladesh, Nepal, African and the CIS countries. Charting a dynamic growth path over the years, Emami has successfully established itself as a global brand with Indian values.
Emami Realty is the arm of Emami group that has been doing quite good since its inception. In the next 10 years, we plan to take Emami Realty to new and greater heights, which will not only make luxury affordable, but it will also provide employment to a large section of people. We are also focusing on sustainable development, which will further ensure the customer’s trust on us and create goodwill and loyal customers. We see ourselves to be one of the best realty players across the world.
Charting a dynamic growth path over the year, we are planning to launch few new projects across various domestic geographies. We are also taking initiatives to take the company to a national level and position it as one of the leading real-estate companies with best practices, with a special focus on customer satisfaction and transparency. Making luxury affordable has always been the main concern of our projects. We will also do few commercial developments. We are going through an evolution and it has become one of our most exciting challenges to make premium living a dream come true for the middle income group.
7. What are the changes that you are expecting in 2020 and where do you think the government can play an important role to make 2020 a blockbuster year?
Real estate is one of the biggest revenue generating sectors of the country. And in a developing economy, the role that real estate plays is very vital. These policies ease the investors as well as buyers thereby boosting the real estate growth. The government’s intervention in the real estate market has been blessing in the present scenario of India’s real estate.
- The boost to realty sector through the bailout fund is one of the best catalysts which will push sluggish growth.
- Overall infrastructure development and the structured approach through RERA will boost customer/investor confidence and lead to proper growth.
- Several policies set up by the government have been playing the cards for the development in the sector.