REDEFINING SOUTH INDIA’S REAL ESTATE CANVAS
MANJEERA CONSTRUCTIONS LIMITED, A FLAGSHIP COMPANY OF MANJEERA GROUP IS ENGAGED IN DEVELOPING RESIDENTIAL, COMMERCIAL, HOSPITALITY AND RETAIL PROJECTS ACROSS HYDERABAD, BANGALORE, VIJAYWADA, RAJAHMUNDRY & ONGOLE. G VIVEKANAND, DIRECTOR, MANJEERA GROUP, BRIEFS ON THE COMPANY’S GROWTH POTENTIAL IN THE COMING YEARS.
Manjeera Constructions Limited is the flagship company of Manjeera Group which is promoted by G. Yoganand, a Post Graduate in Structural Engineering from Indian Institute of Science, Bengaluru. The group operates in business segments of real estate, construction and hospitality covering the entire spectrum of property development of residential apartments, villas, gated community projects, mega malls / multiplexes, hotels, commercial projects and construction contracts. We also aim to leverage our strengths in technical understanding, to execute convention halls, malls and multiplexes at numerous locations in most efficient ways.
Manjeera Group has completed over 8 million sft of commercial retail hospitality and residential projects in south India till date and has over 5 million sqft under development in 5 cities. The company has constructed and developed 4-star Hotel Aditya Park and 3-star Hotel Aditya Hometel with assistance of M/s. Sarovar Hotels (P) Ltd, a specialized hotel chain as well as a 5-star hotel Radisson Hitech City (erstwhile Aditya Sarovar Premiere) in Hyderabad.
NEXT GENERATION CHARTING A NEW PATH
If we were to chronicle the history of Indian business houses, it would be filled with examples of scions following their fathers in the family business. However, young scions of business groups are raring to build businesses by themselves. The next generation has new ideas and they are pushing and expanding frontiers.
India is witnessing an unprecedented start up boom. Start-ups have ended the dominance of conglomerates in many sectors. Business heirs have the urge. “I like to get my hands dirty, I like to build things. I want to make my own mistakes, build my own team and see my ideas come to light,” Likewise, after completing my graduation in Civil Engineering from CBIT, associated College of Osmania University and Masters in Construction Management from Stevens Institute of Technology, New Jersey USA, I joined the family business and have tried to be instrumental in implementing the best practices in the company for the next level of growth with innovative ideas.
“The culture we inculcate at Manjeera is always to embrace challenges and capitalize on opportunities; this has been made possible with continued focus on technology, sustainability, quality, and by fostering an inclusive work culture. Our developments are conceptualized based on the needs of our customers. The ability to foresee opportunities across market segments has allowed us to strategically scale-up our business and create strong and enduring value for all our stakeholders. Manjeera group has thus emerged as one of the fast growing mid cap companies in India.”
CATERING TO THE CHANGING DEMANDS OF HOMEBUYERS
Our focus is on innovative marketing strategies to inform buyers of our proven track record of delivering quality homes. We select the projects after stringent due diligence process so that the buyers interests are protected and their investments yield good results. Home automation, tech integrated homes are some of the offerings we are giving to our customers in our upcoming projects.
Theme -Based housing is the next big thing in real estate. Manjeera is now entering into joint ventures with foreign interior designers, international architects, design firms and hospitality brands to develop themebased residential projects.
Work from Home (WFM) culture is becoming a new normal and, buyers are looking for re- designed internal spaces. We too are focusing on providing customized facilities like home-office space, selection of best material, due preference to greenery, walkways, workout facilities, large balconies to offer an interesting proposition and create a sense of satisfaction for buyers.
“I am of the belief that “Business assets are items of value the business owns. Liabilities are debts that are owed. Business equity is how much ownership you possess in your business”.
Risk-Free Investments is what buyers are now looking at and therefore are more inclined towards reputed developers. This trend is also paving way for good opportunities for reputed builders like Manjeera. Integrated townships and larger residential spaces that cater to their changed professional and educational needs are in demand. A shift towards peripheral areas is giving way for residential projects that have more open spaces, away from the city buzz.
HOSPITALITY SEGMENT POST- COVID
Hotel industry has yet not recovered from the adverse impact of pandemic, but it is all set to serve customers again with stringent safety norms. I am optimistic about our company’s vision for hospitality projects as people have learnt to live with COVID and hotel operators are enthusiastically embracing new and improved standards of safety by adopting reformed business policies and technology and digitalizing touch points with contactless technology. These standards were perhaps considered a luxury earlier which only gourmet hotels could afford, but now these have become indispensable.
STEPS TO STRENGTHEN REALTY SECTOR
With the outbreak of Corona Virus in India coupled with the ongoing banking crisis and downfall of various NBFCs lending to the real estate sector, the real estate sector is now deeply suffering from these multiple mega blows.
While the ongoing economic crisis had disrupted the flat purchasers’ income flow due to ongoing layoffs, restructuring of the companies etc., most of the real estate customers were already facing liquidity issues, which had in turn resulted in hardship for real estate sector in a big way having a percolating effect on entire chain of construction activity. Thus, cash flows, firstly from new sales and collection from the sold units have been severely affected, secondly from license fees /rentals from tenants in retail malls and office complexes is equally impaired.
I feel, real estate sector will take at least one more year to restore to normalcy during which time the government should take remedial measures and announce special sops giving extended moratorium period for overdue payments/EMI/ interest of all loans, reversal of penalties levied during lockdown, nullify the credit rating effects to boost the morale of real estate sector and provide one-time special working capital loans as a package without insistence of laborious documentation.
MANJEERA’S DISTINCT PROJECTS
- Manjeera Trinity Corporate is a 1 million sft grade-A office building in Kukatpally, Hyderabad has been home for some leading Multinational companies.
- Purple Town at Gachibowli, Hyderabad is an ultra-luxury premium villa project offering panoramic setting, stylish composition and environmental consciousness.
- Manjeera Monarch, is one-of-its-kind luxury apartments on Vijayawada- Guntur highway is surrounded by wide open spaces with lush greenery.
- New York by Manjeera is the lake facing premium residential gated community located in Yelahanka, Bengaluru. The project theme is inspired from New York City.
- Manjeera Blue at Ongole is a 26 acre villa township comprising 260 villas & 160 apartments in 2 phases. It is water theme based project .It is all set to launch in early 2021.
- Recently opened, Manjeera International Convention Centre (MICE) at Rajahmundry is the biggest convention centre in Andhra Pradesh and a mall multiplex is under construction which is set to open in Dec 2021 at Rajahmundry.