Irfan Razack Chairman, Managing Director, Prestige Group
Around 30 years ago, my brother, Rezwan and I dared to move away from the family’s well established retail business to create our own space. Today, what then might have been frowned upon as a break from tradition, is a company that has played a significant role in changing the skyline of South India. That, in short, is the story of the Prestige Group
My journey has been a very insightful one, filled with many learnings and different experiences, each of which has taught me an invaluable lesson about some aspect of life. I am satisfied with my journey so far but I have a long way to go. If there are no more goals, then there is nothing left to motivate a person, I feel like life is just beginning as there is still so much I want to do.
The Prestige Group is currently the second largest developer in India. It is also the only CRISIL DA1 rated Developer in India with a financial rating of A- by ICRA. Headquartered in Bangalore, we have in recent years taken our expertise to other cities across South India, including Chennai, Hyderabad, Kochi, Mangalore, Mysore and Goa. Noteworthy among our upcoming projects in 2017 is a piece of land in Pune that we have set aside for developing an IT Park. We have also set aside properties for office buildings as well as an IT Park in both Ahmedabad and Kochi. Though Prestige is already a national entity, it is my dream to give the company a pan India presence.
In this long and immensely memorable journey, the turning point of my career was the day I realised that I am creating value for people.
I believe that real estate is the only commodity that continues to be safe to invest in, unlike shares or stocks. Real estate offers no short term bets but it pays multifold over the long term. This fact is evident when one compares any property that was bought about ten years ago and its current value. Such customers have seen a minimum of three times their investment in returns.
As developers, we have the privilege of giving people one of their most precious assets – a home. At Prestige, we have been trying to create quality homes for people for over three decades now and my biggest satisfaction comes from happy customers who come and tell us that they have made significant returns on their investment in Prestige homes.
Over the years, we have also created assets for cities via Tech Parks, Malls, Hotels etc. and contributed to the overall economic growth of South India and in particular, Bangalore. People live in our homes, work in our offices and visit our malls, hotels and spas for recreation. In some way, we have managed to touch everyone’s lives and I am grateful for having had the opportunity to achieve this.
No matter how many facilities at one’s disposal, in the long run, it takes immense hard work and perseverance to succeed as an entrepreneur. Passion, perseverance and a positive attitude tend to set successful entrepreneurs apart. Cultivating these attributes requires an innate skill set. That complemented with a smart business strategy can definitely help one gain success.
Additionally, exercise, sleep and diet play an important role in one’s journey to success. All of them drive attitude, motivation and relationships. How an entrepreneur feels about progress, how quickly a business can be up and running, and feeding that bottom line, will decide the fate of a venture.
I enjoy travelling and adventure sports. While on my travels, I enjoy learning about new cultures and experimenting with different cuisines. I also enjoy trying my hand at the best adventure sports a country offers. Among other things, I have done Bungee jumping over the Victoria Falls and Parapenting (like parasailing) off the Swiss Alps.
My passion for what I do is probably the main reason for what I have managed to achieve in my life. With each new milestone, I keep raising the bar for myself. Also the desire to give back to society is a big motivator for me to achieve more.