A young graduate civil engineer, Shri Dilip Bharade in his early thirties, driven by a passion of starting something of his own, with no financial backing and family legacy, clueless but confident, shaped some vivid concepts and pictures at his heart and waited for his opportunity which came in the year 1989 when a small piece of land well negotiated in a barter, to commence the Raghukul Constructions in his mother’s name Nalini Bharade.
In a talk with Shri Dilip Bharade lets discover more about Raghukul constructions Pvt.Ltd and his views about the real estate industry’s current scenario.
- Tell us about the Company
My family members joined the activity to form a partnership firm which then grew to Raghukul Constructions Pvt. Ltd. which is registered under companies act 1961 and has an office at Bajaj Nagar Nagpur. The Company has three directors namely, Dilip Bharade, Maithili Bharade, Govind Bharade, and Shri. Sandeep Shelgaonkar as CEO. The company is mainly engaged in real estate development in the city of Nagpur.
- What were the initial challenges you faced?
A first-generation entrepreneur always faces multiple challenges during the initial phase. Owing to sound knowledge, planning, techno-managerial skills, and the highest possible attention to the micro as well as macro details, we converted each challenge into an opportunity to learn and grow.
Still, we feel that in the initial stage, the first challenge is to have the right mindset and second is that of funding. We recollect old times when the concept of entrepreneurship was difficult to digest in the average middle-class families and any such idea was not welcomed.
- Which was the point that triggered the growth of the Company?
I always feel that growth is a two-fold process, one part governing the scenario is within yourself at a subconscious level and another is the outcome, in terms of turnover, magnitude, public image, and volumes. After completion of some projects, in 1996-1997, we made good land deals in the heart of the city. It saw remarkable growth in magnitudes and Raghukul started getting seen as a potential name in the realty sector in Nagpur.
- What is the reason behind your company’s long-standing success?
I try to be humble in saying that the whatever the company could do till date is an outcome of consistency and sustainance in commencement and completion of the projects and with due regards, I am afraid to call it as a long-standing success since, success is a very relative term and difficult to gauge and measure in the eyes of those who engage themselves in an evaluating others in terms of volumes and magnitudes.
- What are the products/services the company focuses on?
Raghukul works in the real estate development industry and is engaged in the construction of flats and sale. We all know that for an individual buying a home is a lifetime investment. Raghukul understands the value of hard-earned money of home buyers and respects the sentiments associated with it.
- How do you decide to take the Company a step further in terms of your products /services?
We believe in sustained growth and are one of the few who prefer being realistic in the real estate sector. We construct two, three and four-bedroom residential apartments in the heart and outskirts of the city. Our domain of area varies from flats of 1000sft to 4200sft of flat size. A pie graph denotes the flat areas segment completed to date.
- How do you think is the real estate market evolving?
Every activity has a cycle of ups and downs. At present, the real estate sector is at its low. However, there are genuine buyers and end-users whose demand is perpetual. Due to some reforms like RERA, GST, demonetization the realty sector had to take the hit and as a result, it is not seen as a potential investment destination. The government revenue share from real estate has now gone approximately up to 35%, out of which 12% is borne by the buyer and rest is left to the developer.
- Which are the new areas that are being explored in the real estate market?
There is huge technological advancement in the field of building construction. Prestressed or Post stressed construction practices with composite structures and use of ready mix concrete are proving to be game-changers. Concept of green building is also picking up and rainwater harvesting is helping restoration of groundwater levels
- What do you think are the responsibilities of an entrepreneur?
According to me following are the responsibilities of an entrepreneur
- To understand that he/she is not a traditional businessman
- He carries a social responsibility to share his\her knowledge, technical expertise, and experience
- He has to be innovative, techno-savvy and courageous
- The very important responsibility that an entrepreneur should be humble
- What are the key achievements of your entrepreneurial journey?
The key achievements of the professional journey include the construction of two-bedroom terrace flats in the outskirts of the city when there was no provision of alternate double-height terraces in D.C.R. but we planned the building so that every unit got attached terraces. We have been pioneers in the construction of three and four-bedroom apartments in the Shivaji Nagar area.
We have recently completed redevelopment projects named Smruti and AmritKalash and undertaken a 17 storied high rise building named Kanchan Geet in Shivaji Nagar Nagpur. This happens to be the tallest building in this area.
- How do you look after your employees? What makes your team unique?
An important aspect here at Raghukul is a healthy and stress-free working environment. The basic needs of each individual are being taken care of by human considerations apart from perks, privileges, and packages. The dedication and devotion of the team are exemplary and appreciable. There is no employer/employee relationship, hence everybody has a peculiar feel of belonging for Raghukul which makes the team unique.
- Is there any special experience with your clients you would like to highlight?
There are too many experiences in the journey so far but the most important would like to mention that there are at least ten to fifteen families who have been given help, morale boost, courage, and assurance to buy a flat which they liked most but had no financial provisions initially.
Our landmark super luxurious building Shri Mohini Raj commenced with earnest money of just Rs. 10 lakhs to the owners which are an exception in itself. One of the landowners vacated the premises and handed over keys for development just on a verbal agreement. One of the land development agreements of around 12000 sq. ft. was entered at the initial payment of Rs. 21000/only.
- Can you tell us which your favourite book is?
I have read and continue reading books in the wide spectrum of fiction, non-fiction, philosophy, and spirituality. But, my concentration is more on the spiritual reading and the one which I like most is “Shri Bhagwat Geeta”, which teaches the philosophy of life and I try to focus on implementing those principles in my everyday routine.
Set thy heart upon thy work but never its rewards,Geeta
My sincere request to all budding and contemporary entrepreneurs to read and understand tenets of “Geeta” as life technique and “Dasbodh” by Shri. Samarth Ramdas Swami as a management guide.
- One person whom you admire most?
I have a list of persons to admire, from my parents, family, colleagues, and friends, all of whom distinctly contributed to my journey and is difficult to choose one from them. Even then I admire my wife Mrs. Maithili Bharade most of who have been with me all the time and counted on her words in tricky and tense situations.
However, I strongly feel and experience the support of DIVINE POWER without which I would have been nowhere: Therefore, my all admirations are for the ultimate “DIVINE POWER”.
- Whose business story do you find the most inspiring?
The great Ratan Tata’, whose business story inspires me a lot. He is a visionary, humble, simple and a man of values and known for humanity. As a perfect decision-maker and risk-taker, he is my inspiration.
Health is the greatest possession, Contentment is the greatest treasure, Confidence is the greatest friend. Non-being is the greatest joy.Lao Tzu, the Chinese philosopher
- Is Constant Vigilance a need or strategy?
In the real estate sector, once the plan, specifications, processes, and procedures are laid down for a project, vigilance is a must as regards quality, cost analysis, schedule, and customer’s requirements and satisfaction. A small mistake on neglect at any of these points lead to dissatisfaction and misunderstanding and confrontation
- It’s rat race out there, how do you cope with that?
True it’s a rat race out there, But I humbly submit that Raghukul is nowhere in any such rat race rather it focusses on being superior to its former self. Hence, Raghukul’s race is not with others but with itself. Unhealthy competition does not augur well for the industry and leads to vicious circles of financial hardships.