Cover Story

India's Top Builders: Tata Housing Development Company

September 2011
Living up to the expectations of its iconic Indian brand, Tata Housing Development Company is one of the country's leading real-estate developers with a turnover of Rs 315.35 crore (FY 2009-10). A pioneer of the concept of property development by corporate houses in India, the company has a presence in Mumbai, Goa, Chandigarh, Bengaluru, Gurgaon, Pune, Lonavala, Talegaon, Chennai and Kolkata. Under the stewardship of Brotin Banerjee, Managing Director and CEO, the company's focus is on the residential, commercial and retail sectors with operations across the gamut of real-estate development and an existing portfolio is over 25 million sq ft in various stages of construction. Next on the company's agenda is to extend its reach to Tier I and Tier II cities across the country. We expect nothing less.

Our company is identified with...trust, transparency, ethics and innovation.

Our mission statement is...to delight our customers by providing quality life spaces through continuous innovations.

Our corporate philosophy is...an enhanced lifestyle coupled with sustainable environment.

The project that laid our foundation is... Xylem, our first project after the revival of Tata Housing in 2007.

Our landmark projects include...Xylem, Aquila Heights, Raisina Residency, Prive, ShubhGriha, New Haven, La Montana and Primanti.

Our most creatively satisfying project is...Raisina Residency, a project developed on the theme of art and architecture.

Our dream project is...a 136 acre sustainable integrated township coming up in Ahmedabad.
 
Our 'green' commitment....is evident in the fact that all our projects, right from value homes to super luxury projects, are certified green developments from the IGBC.

Our significant achievements include...pioneering real-estate development by corporate houses in India; pioneering the concept of certified green developments in India; pioneering low-cost housing townships for the LIG segment in India; and developing Bengaluru's tallest residential structure.

Our most important asset is...the talent pool at Tata Housing.

In my years of experience I have learnt that...there is no shortcut to success; you not only need to put in your 100 per cent but differentiate your offerings from your competitors', genuinely benefitting consumers.

My leadership has enabled the company...to be India's fastest growing real-estate development company.

I owe the company's success to....aesthetically and efficiently built products, ensuring that the customer is not short-changed; an innovative tilt to most projects. We have a strong value proposition for each product to differentiate it from the competition.

Fact sheet:

Year of establishment: 1984, revived in 2007
No. of employees: More than 450
Centres of operation: Pan India
Turnover: N.A.
Order book: N.A.

Brotin Banerjee's take on ethics in real estate today...

"The term ethics was traditionally missing in the Indian real-estate sector, but in recent times owing to the entry of corporate houses such as Tata, Godrej and Mahindra, the importance of transparency and good governance is steadily growing. Transparency and ethics are key factors in any efficient property market as well as for consumers as they make it conducive for buyers to understand the pros and cons of a specific project and accordingly make investment decisions. Ethics and transparency also in turn facilitate FDI. Real estate in India is subject to multiple taxes such as corporate, service, minimum alternate, value-added, stamp duty, property taxes, etc. Although there is transparency in enactment of legislations, certain key areas such as evaluation of property tax are a significant concern as a reliable and easy method of calculations is not available. Interestingly, the Confederation of Real Estate Developers of India (CREDAI) recently announced 'Vision Transparency', with an aim to remove corruption from the sector, reduce administrative cost for the government, and bring down the sale price of a tenement. Such initiatives by government and non-government bodies will help the industry to establish itself as the next sunrise sector."