Amar Manjrekar, Managing Director, Amar Builders
Creating strong foundations for almost three decades, in projects as well as customer relationships, Pune-based Amar Builders is a multifaceted, diversified firm operating across the verticals of residential, commercial, IT, hospitality, industrial and healthcare segments. The over 80 successful projects built by the company to date exemplify its passion and commitment towards each new venture. Amar Manjrekar, Managing Director, Amar Builders, shares details of the company's operations, projects and future growth plans in conversation with SHUBHANGI BIDWE.
The company was established in 1981 in Mumbai but later shifted base to Pune in 1985. Why?
Pune offers us better prospects, better opportunities and a better lifestyle as compared to Mumbai. Also, it is in close proximity to Mumbai and has good airport and road connectivity. The city's climate and educational opportunities also provide great opportunity for development.
Tell us about the real-estate market in Pune.
The market is set for huge growth; we are looking at an increase of 12-15 per cent. The next major development here will be townships as people are slowly realising the benefits of these enclaves. Although there are certain infrastructure lacunas, the government is trying to overcome these shortcomings. In the next five years, there will be better road connectivity and infrastructural facilities.
Also, what are your ongoing projects? Can you elaborate upon their features?
Eternity, Amar Business Park and Infinity are a few of our ongoing projects. These are core high-end projects ranging from 3,000 sq ft to 6,000 sq ft û a sector we diversified into in the past five years. While Amar Eternity is spread over 4,500 sq ft, Infinity is a little less at 2,500 sq ft. All these projects offer high living standards and specifications. Our project Renaissance at Sopan Baug spreads across 8 acre. Designed by one of the leading architects of India, this project offers three and four BHK apartments. Also, we are applying for LEED Platinum certification for this project.
Do you have any plans to venture into affordable housing?
Certainly. Affordable housing is our next target and we are launching three township projects in Pune for the same.
Elaborate on the eco-friendly features of your projects?
All our upcoming projects are environmental-friendly and we are trying for Platinum certification for them. Some green initiatives in our projects include rainwater harvesting, green roof, solar lights and electricity, and the use of eco-friendly construction materials.
Also, you have plans to venture into the hospitality sector...
In the hospitality sector, we have already developed the Park Estique Hotel in Pune, and are developing two more in Goa and Gujarat.
What about township projects?
We are developing two township projects in Pune. These will be of 100 acre each and offer affordable housing from 600-1,200 sq ft. Each project will be completed in four to five years and will include everything from playgrounds to markets, theatre, school, etc.
What mode of project funding do you prefer the most and why?
We are a self-funded, zero debt company. Each of our projects is funded in-house, which provides us the leverage to develop as we wish to.
From where do you source the materials for your projects?
We have an in-house purchase department that imports materials from Dubai, China and Italy. As most of our projects are high-end developments, we mostly use imported materials such as marble from Italy.
Projects in Tier-II and -III cities are gaining new ground. Tell us more about your projects in these markets.
Although we have acquired land in Nashik and Nagpur, this is not the right time to develop a project as the growth in Nagpur is very slow and the market is not good. We will develop it at the right time.
The real-estate industry, over the years, has witnessed a positive change with many builders insisting on ethical practices in their operations. What's your take on this?
The real-estate industry has indeed witnessed a drastic change over the past decade with developers getting more professional and organised. It has become evident that only developers with a solid track record and strong ethical and transparent dealings will survive in this industry in the future. Moreover, the consumer has learned to distinguish between a good and bad developer.
Where do you see the industry headed in future? What are your plans to leverage future growth?
With the boundaries of every Tier-I and -II city growing and the ever increasing demand for quality housing, the industry will sustain this growth for the next five to 10 years. We intend to focus on the high-end residential segment - homes with extremely high quality finishing, catering to the niche clientele. The focus will also be on green development, ensuring that the organisation does its bit for the environment.
Year of Establishment: 1978
Top Management:Amar Manjrekar, Managing Director; Hrishikesh Manjrekar, Executive Director
No. of Employees: 150
Centre(s) of Operation: Pune
Ongoing Projects :
? Amar Eternity
? Amar Renaissance
? Amar Neptune
? Amar Businesses Park
? Amar Infinity
? Amar Landmark
? Amar Nagar
? Amar Renaissance
? Amar Ambiance
? Amar Baug
? Amar Srushti
To share your feedback on this interaction, write in at feedback@ASAPPmedia.com