Currently, the real estate sector of India is worth US$ 120 billion and plays a significant role in economy of the country. Real estate sector in India is expected to reach a market size of US$ 1 trillion by 2030 and contribute 13 per cent of the country’s GDP by 2025. Retail, hospitality and commercial real estate are also growing significantly, providing the much-needed infrastructure for India’s growing needs.
The Indian real estate sector in on a major crossroad. The Government of India along with the governments of the respective states has taken several initiatives to encourage the development in the sector. The Smart City Project, where there is a plan to build 100 smart cities, is a prime opportunity for the real estate companies.
Some of the other major Government Initiatives are (1) Under the Pradhan Mantri Awas Yojana (PMAY) Urban, more than 8.09 million houses have been sanctioned up to May 2019. (2) In February 2018, creation of National Urban Housing Fund was approved with an outlay of Rs 60,000 crore (US$ 9.27 billion). (3) Under the Pradhan Mantri Awas Yojana (PMAY) Urban 1,427,486 houses have been sanctioned in 2017-18. In March 2018, construction of additional 3,21,567 affordable houses were sanctioned under the scheme.
In 2017 RERA and GST has been implemented. After effect of demonetisation clubbed with RERA and GST, the real estate sector of India has seen a big change. It has increased the transparency and diligence in the business eco system of the industry. The government has also issued draft guidelines for investments by Real Estate Investment Trusts in the non-residential sector. With such developments, the real estate industry in India is poised to grow at a faster pace.
Today, many of the multinational companies are looking forward to investing in the real estate sector considering its great potential. Founded in 2013, Olympeo is spearheaded by IIT and IIM alumnus having a combined experience of developing and executing realty projects spanning over 10 million square feet. Olympeo Infrastructure has its core competencies in Design, Planning, Quality and Timely Execution of Project. In addition, the company uses technology to offer all the comprehensive real estate management and maintenance solutions to its customer.
Everyone deserves a lifestyle celebrates everyday living, a lifestyle that ensures the well-being of your family. A lifestyle that truly makes you come alive. But only a select few can afford it. Wouldn’t it be nice if such a lifestyle were made affordable too? At Olympeo, it’s their endeavor to build meaningful lifestyle for modern India. Olympeo is committed to develop large integrated townships inspiring active and healthy living. These townships shall offer modern day convenience and comforts at affordable terms, which until now, were reserved for the privileged few.
“Olympeo Infrastructure Pvt Ltd. promises to create lively and recreational spaces that scale new heights of comfort, style and conveniences in living spaces.”
For a plan to work, something that is drawn out on such a big canvas, it is essential to get investor appreciation. Once you have the trust of your investors, you can soar high into the skies and build your dreams. But often, getting investors poses as a challenge. And as the protocol has it, Olympeo Infrastructure too had it as a challenge to get investor appreciation initially. But, the company being professionals in working with large enterprises, they were able to handle liaisons and approvals with ease. They were also able to handle local environment at sites and getting quality work from contractors & vendors at the outskirts locations.
Each company is able to bounce back up after hitting its lowest point. It just takes tremendous amount of effort to do that. There comes a point in the journey of the enterprise, the triggering point that catalyses this process of growth. For Olympeo, this triggering point proved to be their commitment and quality towards their work. They were committed to deliver lifestyle projects at affordable prices. The quality of construction, our focus on green & sustainable development and excellent sales & marketing team triggered the growth of the company.
“We believe excellence isn’t a destination; it’s more of a journey.”
With fairly long term goals, Olympeo has made sure that they invest in technology and people. Customers’ requirements at all stages of the project are at centre in their project planning, sales & marketing and construction. Olympeo puts lot of effort in hiring and grooming their team members. They pay special attention in their educational background and hunger to excel in life. The company is also very particular in selecting their project partners, vendors and contractors. Lot of weightage is given to their experience and work ethics. All these were unprecedented in the affordable housing segment which has traditionally suffered from low quality workforce, lack of professionalism and transparency.
Their Service Portfolio-
Olympeo is an affordable housing development company specializing in active lifestyle development. Presently, they are developing large integrated projects promoting active and healthy living for urban low to mid-income families. They are focusing to make active lifestyle affordable to masses which currently are meant only for the privileged few. Moving forward, they are also expanding in diverse avenues with senior living, facility management, and schools.
Be it architectural designing, construction standards, on-time deliveries or facilitating buying process along with finance partners, every process is made seamless. The structured approach helps all the stakeholders in achieving the desired results with more transparency.
Olympeo is committed to developing large integrated townships inspiring active and healthy living. These townships shall offer modern-day convenience and comforts at affordable terms, which until now, were reserved for the privileged few.
Olympeo has a vision “to be housing partner of choice” and is planning to launch 3 more projects in outskirts of Mumbai Metropolitan Region in next 1 year. Olympeo has a target to present itself in major cities of western and central India including but not limited to Mumbai, Pune, Ahmadabad, Nasik, Nagpur, and Surat in the near future.
Real Estate Market and the New Possibilities-
Real Estate market is evolving into a mature industry. The level of transparency and compliances has increased in short period of time. It is resulting into consolidation in the sector and will lead to a situation where professionally managed companies with long term vision only would thrive. Customer centric product, quality construction, timely delivery and service orientation would be the key consideration in real estate sector.
Currently co-working spaces, student accommodation and affordable housing segment are the areas in which are being explored by institutional investors and real estate companies. Another area which can come up with some modification in legislation is Rental Housing. Furthermore, senior living is another area which has potential for growth. In addition, going forward service component in all the segment of the real estate sector will increase.
Olympeo has been growing at a CAGR of 50% from 2015-2018. The growth rate is further expected to soar in the coming years as Olympeo expands to new markets.
‘Care x 4’ DNA is the foundation on which Olympeo was created.
Care for Customers
Though innovation, through creative execution, through simplified and transparent processes and through inspired living, we are committed to deliver more than we promise our customers.
Care for Employee
The dynamic work environment at Olympeo gives our employees the freedom to express themselves, freedom to conquer new heights and freedom to think out of the box.
Care for Community
Love and care go beyond the boundaries of culture, religion, traditions and beliefs. So do we. We are committed not to hurt anyone by our actions, abide by all the laws and the jurisdictions and maintain cordial relations with all the authorities and establishments.
Care for Environment
When you care from your heart it shows. Be it providing safe, clean and sustainable green development. Our projects are carefully designed and engineered maintaining harmony between growth and natural environment.
“We believe excellence isn’t a destination. It’s more of a journey. Excellence is something that happens along the way. You see, we believe in continuous improvement, in setting newer benchmarks. In other words, we don’t believe in resting on our laurels. We sincerely believe that we’re not competing with others, but ourselves.”
Prabhat Ranjan- A Torch Bearer of Success
Mr. Prabhat Ranjan is the co-founder of successful PE fund Brick Eagle. His earlier stint includes Sr. Vice President at Indiabulls Real Estate, where he headed Business Development. He has also overlooked Land Acquisitions, Sales and Marketing of Commercial Projects. And has also worked with Reliance Infrastructure and played a key role in their project planning and execution team for the Mumbai Metro Project. He has an experience of handling more than 15 million sq.fts. of real estate projects.
He has more than 15 years of experience in Business Strategy and Development in Infrastructure & Real Estate Sector with an in-depth experience of project evaluation, land acquisition and project agreements. For about 3 years, he has handled multiple projects in extended Mumbai suburb.
As an entrepreneur himself, Mr. Prabhat Ranjan thinks that entrepreneurs are carrying the huge responsibility of trust & confidence that a lot of stakeholders have shown in them, be it investors, employees, customers and their own family. They are also torch bearer for many who want to join the bandwagon based on their outcome.
“Our employees are our main stakeholder.”
Olympeo believes in hiring high-quality people with the right attitude. One of the key criteria they look for in their employees other than their professional competence is their background, their perspectives in life, things they value and what they are proud of themselves in their life.
They pay a lot of attention in skilling & training. Employees are empowered to carry out their job and a road map for their growth is laid out. Conducive environment is put in place to develop a sense of ownership among employees and their feedback & initiatives are always appreciated.
Olympeo has a range of projects in various stages of planning and execution – from tenements, apartment to sprawling luxury bungalow and row houses. In addition, the company will offer all the comprehensive real estate management & maintenance solutions to its customers.
“Olympeo is envisioned to be housing partners of choice”
Olympeo has launched their first project “Olympeo Riverside”, large integrated township spread over 25 acres. It was the First Township in Neral to get an OC for 280 flats at a time. Riverside was the first large-scale project launched by Olympeo. Planned by Architect Hafeez Contractor with 15-20 minutes’ walk from Railway station, Riverside has 12000 sqft luxurious clubhouses with a big swimming pool. In 2018, we launched Olympeo Neo City which is spread across 10 acres. Both the projects are beautifully designed with more than 80% open space.
Mr. Prabhat Ranjan’s Message to the Newbies-
We have to choose our priorities in life. These can evolve over period of time based on our stage of life. As long as we are honest to our goals and are giving our best to achieve that, everything else should be secondary. However, we can’t fully ignore or isolate ourselves from getting influenced by the rat race out there. To cope up with that we should develop interests and passions outside our profession. Sports, travel, reading, spending time with family & friends and active involvement on social works gives a lot of meaning in life and satisfaction. These acts as balancing role on the peer pressure that we come across on account of rat race.
While it is necessary to develop our interests, the competition out there can’t be ignored. And to cope with that, you need to be vigilant. Constant vigilance is a need of the hour. Significant numbers of companies falter at various stages of their existence on account of slippage at operational level. Vigilance is required at each step of the company operation not only to check financial fraud or leakages but also to look into the redundancies at every level. Constant vigilance keeps the organisation at it toes, improves accountability and prevents financial meanderings. One thing we must keep in mind that constant vigilance is not due to lack of trust. At every level we follow ‘Trust but Verify’ principle. This way process becomes the vigilant free from human error.
“And, when you want something, the entire universe conspires in helping you to achieve it”Paulo Coelho