Vertical development is the only solution to create space

RK Arora, Chairman & Managing Director, Supertech It is a fantastic innings. An ISO 9001:2000 certified company, Supertech has successfully completed 20 years in the real-estate business and converted over 33 million sq ft into residential and commercial landmarks with over 36 projects accommodating nearly 30,000 families. And it continues to forge ahead with innovative projects like a boxing academy in association with Mary Kom. RK Arora, Chairman & Managing Director, shares the company's operations, projects and future plans with CW. What was your vision behind initiating the boxing academy project in association with Mary Kom? Who will be its contractors? As a responsible corporate, we are committed to build young Indian talent and lend a platform for sports aspirants to learn, grow and get recognition in their sport. The MC Mary Kom Boxing Academy, to be set up in a 100-acre township at Upcountry, Yamuna Expressway, will be the first-of-its-kind in Noida and Greater Noida. The academy will provide world-class training to aspiring young boxers. Your project Spira is set to be India's tallest mixed-use project. Tell us about the technology used. The Supernova Spira Residences in Noida are being built through the use of the latest jump-form technology. This is a versatile formwork system that requires fewer individual components leading to faster forming. It will help avoid high-rise project delays, besides ensuring safety. The advantages of this technology are as follows: It enables the external structural frame to be constructed within six floors of the core, enabling repetition of one floor to another floor within six days. The internal slabs and stairs can be constructed with the core walls.   The technology protects site personnel from falls and strong winds while working at a height as both the working level and the two levels below it are completely enclosed by panels. The platform and screen elements are assembled in units about 6 m long and rise from level to level using either the tower crane or the same hydraulic equipment used for the jump-form. A foldable cover flap at the foot of the protection panel enables external cladding to start earlier. Prior to raising the units, edge protection is secured in position behind the lower screen level and then removed progressively from each level as the cladding is installed. The mobile self-climbing device and hydraulic pump allow crane-independent climbing as and when necessary. With this concept, the cost of self-climbing technology has been minimised and cost-effective implementation for structures with lower heights ensured. How different is the experience of working with a Middle Eastern contractor? As one of the premium names in the global arena, ACC has helped us to enhance our learning process. The global conglomerate's approach towards expanding its operations in new markets and dominating it through its high-quality operations is worth emulating. Tell us more about your project The Leela Palace Noida, at Supernova, Noida. The Leela Palace Noida ' one of the five towers of Supernova ' will be an ultra-luxurious hotel comprising about 250 guest rooms and suites, restaurants, lounges, banquet facilities, spa and a fitness centre. The hotel will offer exclusive services for corporate houses. Its strategic location along the Yamuna Expressway will boost the demand for real estate in the region. We are investing Rs 450 crore in this project; it will be completed within a period of 48 months from commencement. Any other landmark projects? One such project is Supertech Emerald Court in Noida. To be built across 70,000 sq m at the cost of Rs 750 crore, this is a multi-storeyed project comprising 15 towers offering ultra-modern 3/4BHK apartments and penthouses. These apartments will be open on four sides and available in both air-conditioned and non-air-conditioned options. Considering the impressive line-up of your projects, how hard is it for you to acquire land? Land is becoming scarce day by day and vertical development is the only solution to create space. Ever since government land has been involved in disputes and litigations, purchasing land from farmers 50-60 km away from metros is the only option available. Moreover, the land acquisition bill is likely to make acquiring land more complicated, so a relaxation in the bill is needed. Do you have any plans to venture into other zones of the country? We are focusing on building one zone at a time. We have launched some of the best projects across North India, including Tier-II and Tier-III cities as well. Although we are keen to further expand our horizons, we will not do so without fully developing the current region. What are the funding options available to you and what's your debt position? We generally raise funds through private equity and debt from PSU bank. Planned cash inflow and construction along with effective and timely debt servicing has helped us to remain unaffected even at the time of recession and the resultant crisis in the real-estate sector. What are your strategies to deal with the current economic slowdown? We select project locations that are relatively less known but have vast development potential in the near future when the planned infrastructure projects of the government and its agencies are implemented. Projects in Greater Noida West (Noida Extension) and Gurgaon come in this category. The demand for such projects comes mostly from buyers who wish to invest in properties with a resale value. What can be done to tackle project delays due to lack of approvals? Delayed approvals often result in project delays, hurting the industry's image besides adding to customer frustration. The proposed regulatory bill will address this long pending issue by limiting the interventions in the process. Projects in Tier-II and -III cities are gaining new ground. How has your experience been in these cities? Tier-II and Tier-III cities are likely to provide better and stable returns over the long term. We have launched several commercial and residential projects in cities such as Meerut, Rudrapur, Haridwar, Moradabad, etc. Tell us about the company's CSR initiatives. Driven by its commitment to create a better tomorrow, Supertech has initiated 'Kaksha', a singular initiative to impart quality education to underprivileged children. Under this noble cause, the company provides school uniforms, books and toys, free of cost. On every booking of a residential or commercial property, a fixed percentage of the profit goes to the Kaksha fund. The first Kaksha initiative was started at Eco Village I project in Noida Extension and the company aims to expand this to Hapur, Haridwar, Meerut, Moradabad, Dehradun and other Indian cities in the future. Supertech also incorporates tree plantation activities in its projects. Many builders today insist on ethical practices in their operations. Your comments? It is heartening to witness the positive changes in the industry. With a collaborative effort from various players, we are inching closer towards our aim of engaging and operating with ethical practices. This will enhance the industry's credibility and help change its preconceived image. Where do you see the industry headed and what are your plans for the same? The real-estate sector is maturing with each passing year. The industry is cautiously moving ahead by addressing the various concerns and challenges each quarter brings in. It will be interesting to see how we adapt to changing demands and the overall scenario of the industry and further build India on a par with global standards. We plan to integrate best technological practices and ideas resulting from our close observation of the market. Fact sheet Year of establishment: 1988 Top management: RK Arora, Chairman & Managing Director No. of employees: 1,100 Centre of operation: Noida, Ghaziabad, Greater Noida, Moradabad, Gurgaon, Rudrapur, Meerut and Haridwar Ongoing projects: ORB (Noida), Green Village, Palm Greens (Meerut), Metropolis City (Rudrapur), Shopprix Mall (Meerut), Raddisson Blu (Rudrapur), Supernova (Noida) Upcoming projects:Rivercrest (Rudrapur) Completed projects: Supertech Residency, Avant Garde (Ghaziabad), 34 Pavilion, Emerald Court (Noida), The Pentagon Mall (Haridwar) Turnover: Rs 2,000 crore To share your feedback on this interaction, write in at feedback@ASAPPmedia.com