Sobha declared top realty brand in India
Sobha Limited., India’s real estate brand, has been declared the top brand of Indian real estate sector for the third consecutive year by the Brand X Report 2016-17, an annual study conducted by Track2Realty. This has been a rare accomplishment – the first hattrick of brand leadership by any real estate player in India so far.
This in-depth Brand Perception Audit Report recognizes Sobha for the third time in a row as the – Top National Realty Brand across Asset class in India and the Top National Realty Brand in Consumer Confidence Index. In addition, the report has carried out a global survey which rates Sobha as the Number 1 Real Estate Company in top of the mind recall of the NRIs spread over a number of countries. Sobha is also on top of the chart for carrying out its Corporate Social Responsibility (CSR) activities in the country.
Mr. Ravi Menon, Chairman, Sobha Ltd. was delighted and he said, “This recognition has been extremely humbling for the entire Sobha family. We have been very conscious of our international quality products built to perfection and delivered on time. Sobha’s brand strength depends on our delivery excellence which is an outcome of our unique integrated business model. We will continue to leverage our strengths and capacities and lead the way, breaking new grounds to take Sobha to newer heights of excellence. This recognition by Track2Realty reiterates our commitment and endorses that we have been able to improve on brand reputation in a challenging market environment and consolidate our positioning and competitive edge.”
Mr. J C Sharma, Vice Chairman and Managing Director, Sobha Ltd. said, “We are extremely delighted to have been acknowledged by Brand X Report for the third consecutive year. This recognition is very critical and timely in this transitional phase where post RERA, the customers, and industry as a whole can look up to Sobha which is setting high industry standards towards serving the market professionally. Our brand philosophy hinges on “passion at work” which signifies our attention to the minutest of details, carried out passionately. And we shall continue to create value for our customers.”
He further said, “These are exciting times. India is embarking on a growth trajectory with a slew of transformational initiatives taken by the Government at the centre. The Track2Realty’s Brand X Report is an exhaustive work done yearly which will help deepen industry insights and overall understanding amongst the concerned stakeholders.”
For the first time, the Brand X Report has also conducted a global survey among the NRIs to gauge their understanding about the trust quotient of Indian real estate. Sobha has been voted as the Best Developer in this unique survey amongst NRIs for having top of the mind recall value. The NRI Survey was aimed at getting four-pronged insight – understanding what the NRIs want; what they get in the present market; what are the gaps in expectations and delivery; and what can bridge the trust deficit.
The NRIs from the US, UK, Middle East, South Africa, Canada, Australia, New Zealand, Malaysia, Singapore, and Mauritius participated in the survey. With a large number of open and close-ended questions, the survey tried to gauge the awareness of the NRIs vis-a-vis the Indian property market. They were asked about the brand recall of the Indian developers, their trust over them for future buying and also the reasons of trust, or the lack of it. The data was then collated by the Track2Realty’s team to read the mood of the NRIs vis-a-vis their investment choice in the Indian property market.
Further, Sobha has also secured Number 1 position in BRAND DISRUPTION category for its CSR efforts. The company’s CSR initiatives received a cumulative score of 76.7 across different parameters such as relevant cause -8.0; skill-based volunteerism -7.5; long-term investment -7.8; management involvement – 8.0; compliance & transparency – 7.4; disclosure standards – 7.4; alliance partners – 7.6; Brand linkage – 7.0; beneficiary perspective – 8.0; value creation – 8.0.
The significant features of Sobha’s CSR initiatives include specialization in education, healthcare, old age care, vocational training, and women empowerment. The key highlights as mentioned in the report which makes SOBHA stand out include- CSR budget exceeding the mandatory spend of 2% and that the CSR initiatives were started much before it was legislated, Sobha’s Chairman-Emeritus, Mr. P N C Menon having taken a pledge to donate half of his wealth and a model case study in conducting an in-depth Social Empowerment Mapping Exercise to identify beneficiaries.