Face-to-face: In sync with ground reality
Mantri Developers Pvt Ltd is setting new standards under the able leadership of its CMD Sushil Mantri. He tells Niranjan Mudholkar that it has all been possible due to rigorous design processes, induction of best professionals and focus on quality as well as improving working conditions.
What is your assessment of the Indian real estate sector with regards to its approach to issues like commitment to environment, product quality, safety and occupational health of workers?
The top real estate companies believe in working in a very organised manner. Big projects generally comprise of a professional team of architect and consultants. They follow the requirements laid down in Indian Standard Code, National Building Code and local regulations, and strictly adhere to them.
Most projects require clearance through the environmental impact assessment carried out in a structured manner by the Ministry of Environment and Forest (MOEF). With this most top real estate companies deliver competent residential and commercial properties to the end users.
What steps have been taken by Mantri Developers in this context?
At Mantri, we have been maintaining all our projects over the years through our home care division. We have improved our projects from the sustainability and maintenance point of view by building intelligence to our properties in the last mile.
Our projects go through rigorous design processes which starts by inducting best professionals i.e. architects and consultants followed by quality products, processes and improving working condition.
We believe that quality pays and so have always laid stringent norms to ensure international quality benchmarks for all our projects. We have become one of the first real-estate companies in the world to be awarded ISO 9001, ISO 14000, OHSAS 18000 & SA8000 certifications for our head office and all the projects by TUV Nord, Germany.
This recognition is an assurance of our commitment to provide international standards for our residential and commercial properties. We respect the principles of social and environmental accountability and strictly adhere to them. These certifications encourage us to strive for excellence and continuously deliver state of the art properties to our customers.
We are also working towards the Leadership in Energy and Environmental Design (LEED) certification by Indian Green Building Council, which derive its standards from the US Green Building Council for our newer projects.
Which are the key segments that will drive growth for the real estate sector going ahead? Do you think the high-end residential segment will re-emerge in the near future?
The major driver would continue to be the residential segment however the commercial, hospitality, retail and educational segments would also be part of it. The high-end residential segment would remain a niche market for real estate companies such as ours which has a reputation for delivering high quality projects.
Which of these segments will be the focus areas for Mantri Developers?
Besides the residential segment we are focusing in IT parks, retail, hospitality and educational institutes.
Which are your ongoing projects?
We presently have five ongoing projects in Bangalore – four residential, Mantri Espana, Mantri Magnolia, Mantri Astra, Mantri Tranquil and one commercial – Mantri Mall; one residential project in Chennai – Mantri Synergy; two projects in Hyderabad – one residential, Mantri Celestia and one commercial project; and a IT Park in Pune.
Plus, a number of other projects are on the drawing board.
How are you coping with the slowdown and a reported correction in prices?
At Mantri Developers Pvt Ltd, we are in sync with ground reality and are looking at the current scenario as an opportunity to refocus on cost and on our customer requirements, which is delivering quality projects at competitive prices.
As an industry leader, how do you think the industry should re-strategise in order to come out of the current slump? How do you see the industry evolving in the next 5 years?
We believe that in the long run India would realise its potential as a leading economic power and is likely to be the third economic power after US and China.
To enable this, the real estate industry would need to shoulder its part of responsibilities of setting quality projects. This would be a prerequisite for the engine of India growth. Over the next five years we see the industry becoming more professional with regards to compliance with statutory requirements.
As the economy grows with mushrooming of larger middle class community with higher savings, considerable volume growth is needed. We would need to re-focus on achieving higher productivity through the use of modern construction techniques.