Winning the Present
Since joining Ozone Group in 2014, could you tell us your initiatives in innovations, charting the growth path and how you execute projects?
Since joining Ozone Group, my primary focus has been to deliver innovative and state-of-the-art townships, keeping the buyers requirements on a pedestal. Excellence, ground-breaking construction know-how and visual appeal are a few significant features we follow while delivering our projects. Once the land is acquired with all the approvals being in place and sufficient cash flows, all I have to do is to achieve a financial closure, after which we aggressively focus on selling the end product to the customers. In order to tap non-resident Indians, we have opened offices overseas in countries like UAE, Australia, Singapore, UK and Hongkong to name a few. This process has enabled to have retail outlets for us to execute and sell our projects globally.
What are some of the due diligence that Ozone Group conducts before swooping on a new development?
When it is an outright purchase the entire due diligence is mainly focused on two fronts. One is on the land which includes all detailed information regarding land title and land history in case it’s a joint development project. The second due attentiveness is on the partner and it is all the thorough homework we are able to do on the partner which serves the due diligence on the land.
Your focus is on improving operations, transparency, corporate governance in the brand and the industry. How does a real estate company handle that?
The transparency factor is a pre-requisite in every business. A transparent functioning is necessary to gain the trust of investors and customers. Ozone Group is funded and supported by large institutions like HDFC and Piramal. With such a strong backing and support system, there is a certain amount of discipline that has been brought in by investors from day one, so we have an extremely strong transparency policy and the corporate governance is also high in order. All of this helps in attracting potential customers and investors.
At a time when most developers prefer single high-rises with the uncertainties in the market, your model has been to develop integrated townships and mixed-used. Could you expound on how this works for you?
When you do an integrated township it acts as a complete solution to your customers. It comes as a complete package that is all inclusive of everything you need on a daily basis right from parks, landscapes, hospitals, schools, senior living, restaurants and hotels and service apartments. Rather than depending on external environment for daily necessities, at Ozone Group we work towards enhancing the customers’ experience. Taking these points into consideration, we have created two townships, one is a 45-acre development in Chennai called Metrozone and the other is a 200-acre development in Bengaluru called Ozone Urbana.
In terms of consultants and architects, you have preferred to go with global companies. What are some of the advantages they bring to the table as compared to Indian companies?
At Ozone Group we have an amalgamation of local as well as global companies. Global companies help to bring in an out-of-the-box thought process, while Indian companies know the rules and regulations extremely well. We generally use external architects for master planning but all the detailing and complete plans are developed by Indian architects.
Could you tell us about your maiden Mumbai project? What are your plans?
After a successful real estate stint in Chennai and Bengaluru, we have recently tapped the Mumbai property market. We have two on-going projects and have signed two more which are all set to be launched in the next three to six months. Our USP in Mumbai is to deliver small projects which can be executed within a span of 3-31/2 years and are only looking to launch projects in mainland Mumbai without targeting the outskirts. Since we have a limited number of units, we don’t go beyond 110 units per project. We are keen on doing a million square feet of delivery in the next five years.
Could you tell us a little bit about your ongoing and recently completed projects??
Some of our ongoing projects are:
Promenade: A joint venture of Ozone Group and Elegant Properties, Promenade is based in Whitefield, the heart of Bengaluru’s IT corridor. The project is opposite to Phoenix market city & VR mall, and everything that residents need is within a 5-kilometer radius: IT parks, schools, hotels and restaurants, hospitals, etc. It also has a 25,000 sq-ft clubhouse.
Oasis: Situated off Sarjapur road, which is one of the fastest growing locality in Bengaluru, it’s a 45-acre plotted development project with 20 different amenities. The project is 15 minutes from Wipro’s corporate office and is equidistant from Electronics City & Whitefield.
The Metrozone, Anna Nagar, Chennai: This mixed development project spread over 40 acres has several towers comprising 2-, 3- and 4-bedroom units, as well as four types of penthouses. The Metrozone has a 62,000 sq-ft Clubhouse, one of the largest in Chennai.
The Gardenia, Anna Nagar, Chennai: is a new concept in world-class multi-storey development with only 32 exclusive 4-bedroom apartments, representing the ultimate in luxury. Apartments in The Gardenia have been designed to provide flexibility in usage, a feeling of spaciousness and convenience. Each apartment comes with world-class furniture, modular kitchen, VRV air-conditioning and fittings of international standards.
Mirabilis, BKC, Mumbai: Ozone group has recently launched Mirabilis, a premium apartment complex, close to BKC. The G+14 storey lifestyle residential apartments consist of 1- and 2-BHK suites. The project will target upwardly mobile, young couples and NRIs with business interests. Amenities include a rooftop private lounge, rooftop infinity swimming pool, rooftop bar, a convenience store, wellness centre, spa, state-of-the-art gymnasium and a business centre.