Dr. Anil Jindal, Chairman & Managing Director, SRS Realty is a relentlessly forward looking person who is eager to continuously infuse new ideas and professionalism into his ventures. He was the driving force behind SRS Limited’s IPO that came out in August 2011. While the overall climate was not in favour of IPOs as such, his efforts went a long way in ensuring that the IPO was a resounding success. After raising Rs. 203 crores from the capital markets to fund operational and expansion programs, SRS Limited was listed on BSE and NSE in September 2011. Apart from generating funds, one prime motivation for him is to bring about higher levels of corporate governance, transparency, and professionalism into the respective corporate. RealtyMyths team had a great session with Dr. Jindal, here’s some of his perspectives;
Please share your outlook on the Noida & Greater Noida market ?
Real Estate sector in India has seen a massive boom and due to the improved economy of India. The rise of Noida and Greater Noida in the real estate sector has been phenomenal catching the eyes of top notch builders undertaking new projects at a propelling rate in the past few years. The primary reason that the city has invited a lot of attraction is due to the manageable real estate property rates of this developing city as compared to other illustrious cities. Over the years high quality luxury residential and commercial complexes have mushroomed in the region providing a high quality life style to one and all in budget friendly rates. The strategic location of the city and the influx of national and multinational companies has also played a big hand in the changing the skyline of the city in the past 40 years. With the increased buoyancy in the market created by the government regarding important policies impacting the real estate sector the city is poised to see a considerable forward momentum in the coming years as well. With good infrastructure, metro connectivity and good road network, real estate development in the Noida regions has picked up rapidly and will continue to have a positive effect on its growth.
Please share in brief about your ongoing projects? How many projects are you planning to launch in the current fiscal? What is your current land bank?
SRS is actively engaged in the development of several residential, industrial and commercial projects through SRS Real Infrastructure Ltd. and its wholly owned subsidiary, SRS Real Estate Ltd. The group’s verticals SRS Real Estate and SRS infrastructure have successfully launched residential projects like SRS Residency, SRS Royal Hills, and SRS Pearl Floors in Sec 87 and 88 in Faridabad known as SRS CITY. Today the SRS Group has a combined turnover of Rs. 6000 crores and a landbank of approximately 500 acres.
What challenges you expect in the given market conditions? How will RERA impact this market?
The market is currently sloppy, brands with greater experice and value is still being considered by the buyers. Its just a phase which will fade out soon. The RERA Bill is an imperative initiative towards protecting the interests of consumers, promoting fair play in real estate transactions, and to ensure timely execution of projects. This bill will ring in much needed transparency in the sector and will play a pivotal role in increasing fund flow in projects easing a sector which is straddled in huge debts. The long pending RERA bill which has finally got the thumbs up from Rajya Sabha will make realty sector more institutionalised and significantly benefit the organised players.
Where you want to go from here in years to come? What vision guides your company?
My primary focus right now is the completion of our ongoing projects on time. Our main aim is to use best quality products and finish the assigned projects on time.
How do you see the government initiatives would help you achieve your vision?
The government has already initiated a series of reforms which should create a positive environment for growth in the realty environment. Some of these measures include the incentives announced by RBI for infrastructure financing, the reduction in interest rates on home loans, incentives for affordable housing (with Rs 4,000 crore being allocated for this), announcement of a framework for REITs (Real Estate Investment Trusts) and relaxation of norms for foreign direct investment in construction. The Government’s initiative in relaxing complex FDI norms will help boost sentiment, leading to higher foreign inflows and more liquidity. Cash-strapped developers will find their liquidity problems easing this year.
Do you believe in mentorship? How has mentorship made a difference in your professional and personal life?
Mentorship is one of the most important relationships for professional as well as personal life. Having a mentor enhances your leadership skills and also broadens your horizons for better opportunities. I always surround myself with knowledgeable people who can challenge my thinking and provide me valuable advice in my time of need.
Many people regret not having enough time for the things they like. If you could add six hours onto every day, what would you do with the extra time?
SRS is my passion. I will only work, work, and work if I get additional six hours in a day to make this company number 1 in the world which is my aim from the beginning. But apart from growing my company I also have zeal to learn new things and to educate myself along the way as I believe knowledge is the real power. I always invest my additional time in Industry Research and building up my knowledge.
What do you consider your greatest achievement?
Being born and raised in a middle class atmosphere and delivering milk door to door to fulfil my duties, my greatest achievement is the turnover of SRS Group, that is, Rs. 6000 Cr and having a landbank of approximately 500 acres. It is a testimony to the fact that nature does reward hardwork, ambition, goodness, and clarity of vision.
What advice can you offer to the new age developers?
The only advice I can give is to show full dedication towards work. Make it your passion. Use only the best quality products and always deliver the projects on time. It is one of the most important criteria of being successful in this field. Third and the most important aspect is exercising financial prudence. I will also advice them to please empathize with customers and make their experience convenient so that our industry grow and prosper with positive sentiments.