Cover Story

India's Top Builders: Hiranandani Group

September 2010

The company

A company driven by people, the Hiranandani Group, since inception in 1978, has honed its excellence and reiterated its commitment to the conception and development of world-class products and services in every chosen business activity. The company is mainly operational in the areas of real estate, healthcare, hospitality, education, entertainment and retail and has not just changed Mumbai's skyline but revolutionised the real-estate industry in the country. Since its project in Versova, Andheri, in the mid-1980s, the Hiranandani Group has come to be recognised worldwide for its modern state-of-the-art mixed used township projects in Powai. Accolades received inclu...de the Lifetime Achievement Award to Niranjan Hiranandani for outstanding contribution to the real-estate sector at Realty Plus Conclave & Excellence Awards 2010; the CNBC Awaaz CRISIL Real Estate Award 2009 for Best Commercial Property to Ventura; Cityscape Award Real Estate India 2009 for Best Developer Mixed Use Project to Hiranandani Gardens, Powai; CNBC Awaaz CRISIL Real Estate Award 2008 for Best Commercial Property to Kensington 'A' Wing; the Outstanding Entrepreneur Award from the Marine Lines Junior Chamber; Diamond Glamorous Builder Ratna Award for outstanding contribution towards building a construction business; the Lifetime Achievement Award 2007 from the Builder Information Bureau; and the CW Architect and Builder Awards in 2007 and 2008 for being one of India's top 10 builders.

The X Factor

"It is a continuous commitment of a group of people to excellence. We were very good 25 years ago and we are very good today. It is not like a sprint, it is a marathon." - Niranjan Hiranandani, Managing Director

The USP

It is our commitment to excellence, to the customer, and to create product lines that are international. In addition to schools, hospitals and shopping malls, that everybody builds, we also built many amenities that nobody does. We even construct mobile crèches for construction labourers. It is an all-round holistic commitment to society. For instance, we have an entire team that looks to check malaria for the past 20 years in both our sites at Powai and Thane.

On Ethics

Things are better than yesterday, and they will be better tomorrow. By and large, people are copying the better builders and there is a continuous improvement in ethics. A lot still needs to be done. Customers need to be looked after much more and this will happen over a period of time. If one is honest and truthful, one can face any challenge.

Quality and timely delivery

These are very important. Unfortunately there are too many external issues that do come up in terms of approvals, materials and labour; in the recent past, these have caused problems for various projects. In the past two years, the market too has been down. The combination of the two has led to non-commitment of product delivery on time. That is changing and many are able to do it faster. However, I do admit that there is a time lag and we have to work much harder to do better.

A matter of faith

It is a long-term commitment. I may make a mistake. I have delivered 5,000 houses in Powai, 4,000 to 7,000 houses in Thane and thousands else where. If I have satisfied 97 per cent of my customers, I think I have succeeded. But I would love to stretch it to 99 per cent.

Future watch

The industry is headed in the right direction but the quantum is not enough; we need 10 times the quantum. Both, the government and private companies have to take responsibility and get together to make it successful. The secret is to get more housing done.

It can be done; we have the finance, infrastructure and everything else to do it, but we need to put all these components together. For instance, we were only constructing 3 km of National Highways per day. Now we have targeted
22 km and have achieved 10 km a day. Once you have the will, once you direct and organise, money is not an issue anymore in the world. Everyone wants to invest in India.

Completed Projects (2008, 2009)

Buttercup, Ixora, Meridian, Lightbridge, Woodrose, Somerset, Alina, Bloomingdale, Burlington, Carlton, Corsica, Crown-A, Crown-B, Crown-C, Evelina, Fiona, Flora-C, Jasper-A, Jasper-B, Queens Gate, Silverlink A, Silverlink B, Spenta, Vittoria

Ongoing Projects

• Hiranandani Estate, Thane
• Hiranandani Meadows, Thane
• Maitri Park, Chembur
• Hiranandani Heritage, Kandivali

Landmark Projects
• Hiranandani Gardens, Powai
• Hiranandani Estate and Hiranandani Meadows, Thane

The Vision
Hiranandani Group has focused on all segments of society and has embarked on a mission to provide a makaan to every citizen.

Turnover
Rs 780 crore

People Power
About 2,000

Centres of Operation
A pan-India and international presence.