Oct 1 2015 | Realty Zone

Dr. Anil Jindal, Chairman, SRS Group

It is a huge opportunity for our company. While smart cities are directly related to real estate, the make in India campaign is offering massive amenities for manufacturing, and other sectors along with real estate. We will contribute in developing smart cities and thereby contribute to India’s growth. With available IT support and in-house multidisciplinary Project team, we are keen to make most of it.

Dr. Anil Jindal, Chairman, SRS Group shares views with Sandeep Sharma about his company’s footprint in the real estate sector, core competencies, emerging realty trends, market scenario, project portfolio, single window clearance, building material cost rise, shortage of manpower, opportunities in smart cities development and Government initiatives to boost real estate sector.

Tell us about your company, journey towards excellence, objectives and core competencies?
SRS Group of companies, under its real estate vertical is managing construction projects. We are associated with In house Costing, Contact management, Project Cost, Time Controls and other domain related activities. Our philosophy of execution is customer oriented and keeping in tandem with the objectivities of SRS Group, our real estate portfolio is centered on offering the best service to realty buyers.

We have pipelined a number of projects adding to our excellence. Our recent project, SRS Tower is highly acclaimed for its classy finish and architecture. SEIAAH, the State Environment Impact Assessment Authority Haryana has awarded Gold rating to the recently renovated SRS Emerald Project. Additionally, the recently sanctioned Presidential Tower is planned as a landmark in premium residential accommodation sector. Our objective is to be amongst the top Construction Management Organizations.

Capability of handling complex construction project is our core competency. Our portfolio comprises of Malls, Five Star Hotels, Hospitals, Luxury Apartments, Townships and Multiplexes. Our teams expanded in multiple disciplines and a visionary leadership are our clouts. Our multidisciplinary team comprises of Civil, Electrical, HVAC, Project management, IT Support and other necessary sectors.

Could you brief us about your company's footprint in the real estate sector?
We have contributed constructions of about 8 million square feet of residential space. Present ongoing residential project comprises of about 1 million square feet ranging from EWS to premium sector housing. In Commercial real estate sector, we have constructed about half a million square feet. Undergoing constructions in commercial realty sector ranges to about a million square feet. We have constructed many commercial spaces, ranging from small kiosks to hospitals, premium malls and IT towers.

How did your company fare in FY2014-15 in terms of business generated, growth rate and your expectations from the current financial year?
In terms of generated business so far, the financial year 2014-2015 is on an upbeat note. Our expectations are high for this year as a change in the whole realty landscape is at hand. Growth has been fair until now and we have successfully completed a number of large projects. The trajectory is poised to be trending high as we have lined up many projects for the year.

Could you provide us insight about the emerging trends in the Indian real estate sector? According to you, which segment of the real estate will be the top runner in the next five years? Why?
Indian real estate sector is on the way to be organized. Lately, government intervention has been massive in the realty sector and laws are being passed, working towards organizing the industry. Therefore, in coming times Realty market will completely come under the ambit of government supervision. This will bring better returns to developers as backlogs in the industry will be sidelined. Commercial real estate is expected to receive an impetus, as the economy of the country is on a positive trend.

In next five years, apart from commercial real estate, affordable residential property will become a mainstream development in the industry. The low cost housing is most likely to be the top runner. The demand, which has been building up over a period, has to vent the new and emerging technologies. Governmental and institutional support would fuel the growth in the industry.

How is the market scenario shaping up in your strong hold i.e. Faridabad, Palwal, Rohtak and Panchkula? Whether buyers are still shying to take property related decisions?
At present, the market scenario in Faridabad, Palwal, Rohtak and Panchkula is similar to the national average as given above. Buyer’s sentiments are still not favorable to the industry and it is clearly apparent in the clogged residential real estate stock. However, the BSFI industry will be playing a critical role to bring up buyer’s sentiments by reducing loans rates and by increasing financing.

Could you provide us insight about your current project portfolio including any of your recently completed signature projects?
We have strong footprints in several real estate verticals such as Health Sector, Hospitals & Dispensaries, IT Parks, Residential, Affordable Housing and Premium Housing. One of our recent projects, SRS Tower is classy and is an architectural marvel. Our recently renovated SRS Emerald Project had acquired Gold rating from SEIAAH, the State Environment Impact Assessment Authority Haryana. We have developed the Presidential Tower as planned premium residential accommodation.

What is your take on sustainable construction and green building development? What is your contribution towards green building development?
The market dynamics of real estate have grown to be such that for developers, sustainable construction and green building is a vital USP. The market forces are going to demand sustainable construction and green building development. Keep on tandem with current dynamics of the market; we have made Sustainable & Green Building methodologies the basis of development for all our new projects.

Could you comment on the need for Single Window clearance for Real Estate projects across the country?
Yes, that would be simply great. However, a single window clearance for real estate projects across a vast country such as India will take time and intensive strategies to materialize. This means a complete organization of the highly unorganized real estate sector of the country. Such initiative will proffer an upbeat buyer’s sentiments and a new dynamics to the property market.

What is your take on the increase in overall construction cost owing to rise in building material and labor cost?
Cost of building materials is bound to rise. In addition, labor cost will increase with time. However, it is possible to decrease the cost involved by using innovative technologies and project management. The catch is- we will have to adopt new technologies and methods to manage any projects to cut down prices. Acquiring new machines and investing on management programs seems costly at the first stroke, but they are much returning on long-term basis. They can also cut down labor cost significantly.

What kind of solution do you recommend to overcome shortage of manpower in the construction sector?
It will suggest two handy solutions. First, new construction techniques decrease the need of manual labor by automating and processes of construction. However, even if machines can replace men, the requirement of human labor cannot be nullified. Second, skill development and training; in fact, the country has enough labor to work in construction sector, what dearth is their skills and level of competency. Unemployed persons from both rural and urban areas can be leveraged in the industry through adequate skill development programs.

As the country gears up to develop 100 Smart Cities and is focusing on setting up manufacturing hubs as part of 'Make in India'' campaign. What kind of opportunities do you see for your company?
It is a huge opportunity for our company. While smart cities are directly related to real estate, the make in India campaign is offering massive amenities for manufacturing, and other sectors along with real estate. We will contribute in developing smart cities and thereby contribute to India’s growth. With available IT support and in-house multidisciplinary Project team, we are keen to make most of it.

What kind of measures is required to be initiated by the government to boost real estate sector in India? The government should come up with confidence building exercises. One time relaxation in approvals and measures like single window clearances may follow. Furthermore, the complicacies and formalities to receive clearances has been an enigma for the industry. There must be transparency in the Industry and government should have better supervision.