India's Top Builders: Mahindra Lifespace Developers
01 Sep 2011
Meet the pioneer in the development of integrated business cities: Mahindra Lifespaces. Indeed, the Mahindra World Cities in Chennai and Jaipur firmly established this arm of the Mahindra Group as a name to reckon with. Under the stewardship of Managing Director & CEO Anita Arjundas, the company has to date developed over 6.38 million sq ft of residential and commercial space across India in Mumbai, Pune, Nagpur, Delhi, Gurgaon, Faridabad, Hyderabad, Chennai, New Chennai and Jaipur. The company's determination to demonstrate credible success in new paths is laudable; its success tangible. Pan-India to be sure, but world class, all the way.
Our company is identified with...trust and a pioneering spirit as well as transparency, trust, and the values we inherit from our parent group.
Our mission statement is...to transform the urban landscape by creating sustainable urban communities.
The corporate philosophy we work towards...is quality, professionalism, customer centricity and good corporate citizenship. We strive to embody these values in real estate.
Landmark projects developed by us include...the first Mahindra World City in Chennai that began as a conventional industrial park and materialised into an integrated business city; and Splendour in Bhandup, Mumbai, the first in India to receive a Platinum-level pre-certification from IGBC.
Our most creatively satisfying project is....the creation of the Mahindra World School at Mahindra World City, Chennai.
Our dream project is...an innovation park, a knowledge hub in India where the world's most innovative companies and the country's cutting-edge scientific talent can co-create in a conducive environment.
Our 'green' commitment...is to urbanise, preserve and restore nature's ecological balance simultaneously. Every project in the mid-market and premium segment will achieve a minimum of Gold Rating by IGBC.
Our most important asset...is people.
In my years of experience I have learnt that....that the 4 Ps (Passion, Perseverance, Persistence, Positivity) pay; and that you need to focus on understanding your customer and serving her to the best of your abilities.
My leadership has enabled the company to...define what it wants to be and how it will harness the inherent strengths of the organisation and its people to reach new heights.
I owe the company's success to....the support and guidance of the promoters, the Mahindra Group; an unwavering focus on the part of the leadership and management team to make a difference without comprising on core values of the group; and our customers who have shared our dream.
Year of establishment: 1996
No. of employees: 288
Centres of operation: Mumbai, Delhi, Chennai, Pune, Hyderabad, Jaipur and Nagpur
Turnover in 2010-11: Rs 627 crore (consolidated)
Order book: Sales in 2010-11 were at Rs 700 crore. (sales in Q1 2011 were at Rs 170 crore)
Anita Arjundas' take on ethics in real estate today...
"While the importance of ethical conduct in all businesses seems self-evident and in little need of emphasis, the number of organisations renowned for their history of being upright are unfortunately few, especially so in real estate. Ethics is essential to nurture trust, especially in an industry based on amicable and long-standing relationships amongst people, organisations, governments and societies.
Real estate projects are difficult to commoditise, since each project is a comprehensive response to a unique set of requirements. Ethical conduct is vital to establish a balance between quick returns on capital investments and achieving the stated goals of a project. It is the compass that can align the motivations of the multiple stakeholders. Also, achieving financial economy and efficiency is what lets us 'emerge' as a nation. The development of easier mechanisms to raise funds must be accompanied with their prudent deployment, avoiding cases of opaque usage of externally-raised capital, and premature exits from long-gestation projects by financiers. Similarly, the ethics of policy stability on the part of the government creates a trusting environment."