Complete report

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COPYRIGHTS First Published in 2016

All rights reserved. Limits of Liability/Disclaimer of Warranty: The authors, editors and publisher have used their best efforts in preparing this book. The publisher, editors and the authors make no representations or warranties with respect to the accuracy or completeness of the contents of this book, and specifically disclaim any implied warranties of merchantibility or fitness for any particular purpose. There are no warranties which extend beyond the descriptions contained in this paragraph. No warranty may be created or extended by sales representatives or written sales materials. The accuracy and completeness of the information provided herein and the opinions stated herein are not guaranteed or warranted to produce any particular results and the advice and strategies contained herein may not be suitable for every individual. Neither the publisher, editors nor authors shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages. The images used in the report are copyright-free or the rights for the same have been purchased. No part of this publication or image in the publication may be reproduced, stored, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise without permission of the editor(s). No part of this book may be reproduced or utilized in any form or by any means, electronic or mechanical, including photocopying, recording, or any information storage retrieval system, without permission in writing from the publisher. The marks featuring the book, including the Brand or the Logo, cannot be reused, reproduced or republished elsewhere, without the permission of the publisher.

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Reputation Towers Jayaprakash Pujari Operations Head BlueBytes

Sachin Bhosle Research Head TRA Research

People today have the freedom to buy, sell, trade, and rent land, where this right was earlier the privilege of only the elite class; that is, tribal leaders, kings, and landlords. It is tough to fathom that this right took more than 30,000 years to come to fruition. Ownership of land—whether residential, commercial, or industrial— has completely changed the way that our civilisation functions today. Having the power to own and dwell in our very own homes is the single biggest achievement of the modern world, the historical struggle for which most of us are oblivious to. In fact, the significance of ownership of property is almost never fully appreciated. Even great philosophers such as Aristotle championed the cause of private property ownership and believed it to be a highly productive practise, one that is a precursor to economic progress. Apart from its economic significance, Real Estate ownership has a definite social significance; it is seen as a status symbol and accords its owners a unique standing in society. Real Estate is still considered a valuable investment in today’s times. In India, as in most other countries today, the economic security of home ownership is a crucial prerequisite for marriage, where the ownership of one’s own home is considered a prudent longterm investment. For those couples who live in rented houses, buying their own house, then, becomes an important decision.

The decision to purchase property is one of the largest financial transactions undertaken by families keeping in mind the future of the coming generations. It is a decision that is taken not just by the head but by the heart too. After all, where one lives deeply influences each stage of one’s life. Reputation plays a crucial role in each and every decision-making stage of a home-buyer from choosing a property to the intermediate stages of the purchase, and finally the acquisition of the property. Keeping in mind that Real Estate is not purchased every now and then, Reputation then becomes a key litmus test for new home-buyers.

As a means of individualistic and social advancement, it is little wonder that the Real Estate Industry must beget the highest regard from the general population. It is ironic, then, that the Reputation of the Industry’s stakeholders—the brokers, Real Estate agents, and builders—is at such odds with the Industry’s Reputation. There are several reasons for the lack of affection towards Real Estate agents, most of which are originally the result of a lack of a strict regulatory environment in the past to prevent the exploitation of buyers. However, with the passing of the Real Estate (Regulation and Development) Act, 2016 (RERA), the Industry’s lack of transparency and credibility has been directly dealt with. An attempt at putting to rest the current vulnerabilities faced by the buyer, through the various provisions of the Act, will prove to be a silver lining for the Industry’s Reputation. It must be borne in mind that Reputation building is not a short exercise – it takes several years to build, and even then, can be knocked down in no time.

Maintaining a good Reputation, thus, can be a tough task. Despite the passing of RERA, every stage of property purchase is still an exercise in double-checking the Reputation of the stakeholders involved. Although, the main lookout for a property buyer is that the investment be within his budget, without the assurance of the purchase and the clearing of all formal legalities that come with it, no investment is worth it. Furthermore, the continuous rise in property prices, which is not given a chance to correct itself due to rampant black money transactions, continues to make it very difficult for the middle-class Indian to invest in Real Estate. In this challenging scenario, the value of having a strategic, integrated Communications strategy cannot be stressed enough. For buyers to invest, information must flow freely from both sides. It is about time that the Industry be less opaque. Especially for the Real Estate Industry, where consumer vulnerability is high and


several stories of fraud deter new home buyers, actions do speak louder than words. Effective and efficient communication is, thus, crucial for a Real Estate brand to cement its position in the market.

Reputation, which is defined as the transmitted belief of a feeling of respect, begins from perception. This perception is largely influenced by the media. The India’s Most Reputed Real Estate Brands – 2016 Report is a one-of-a-kind study that highlights the Industry’s perception in terms of both consumer perception and media analysis. The Report is the third initiative, an endeavor of BlueBytes and TRA Research, both nestled under the Comniscient Group. Each company has a unique specialty – BlueBytes is focused on measuring the transmission of Respect as perceived via print media, while TRA measures consumer perception. India’s Most Reputed Real Estate Brands – 2016 is thus an attempt at bringing clarity into the measured Reputation of the Indian Real Estate Industry.

A brand’s self-actualization process is complete when it has attained the pinnacle of an unflagging Reputation. However, the climb toward this pinnacle is not easy to make. Time may be ripe for companies to recruit Chief Reputation Officers, custodians of Brand Reputation. We would appreciate any comments, suggestions, and questions that would help us bring you an even better Report in the future. Feel free to write to us at reputation@bluebytes.info. We look forward to your valued opinion.

With Warm Regards,

Jayaprakash Pujari, Operations Head, BlueBytes Sachin Bhosle, Research Head, TRA Research About BlueBytes Founded in 2003, BlueBytes, a part of the Comniscient Group, is among India’s leading Media-analytics companies with 9 city offices. Should the need arise, BlueBytes has the ability to quickly scale into 40 Indian cities. Since its launch, a growing number of smart communicators now consider BlueBytes an indispensible tool for tracking, managing, and organizing media coverage from print and online sources. BlueBytes News offers media monitoring and analysis services to over 250 clients and works closely with more than 30 PR agencies in India. Drawing from a decade of expert media-monitoring experience and extensive client feedback, BlueBytes has based its business practice on the principles of Relevance, Accuracy, and Timeliness. These principles when combined create a sturdy foundation that ensures optimum client delivery. BlueBytes has the know-how to not only understand and manage media monitoring from multi-lateral perspectives but also to leverage it. This, combined with our expertise in a variety of sectors and a well-rounded understanding of the various stakeholders—media, consumers, citizenry, government, activist groups, political parties, and bureaucracy, among others—gives BlueBytes an indubitable edge in the programs we undertake.

About TRA Research TRA Research (formerly Trust Research Advisory), a part of the Comniscient Group, is a Brand Intelligence and Data Insights Company dedicated to understanding and analysing stakeholder behaviour through two globally acclaimed proprietary matrices of Brand TrustTM and Brand AttractivenessTM. Over a decade of research has helped us decipher the numerous characteristics that constitute the foundations of a brand. TRA Research conducts a primary research with consumers and stakeholders to assist brands with their business decisions based on our insights on Consumer Behaviour.

TRA Research provides Competitive Intelligence Reports mined from more than 15 million data-points on brand intangibles of 20,000 brands and also provides bespoke studies based on the same matrices. TRA Research is also the publisher of 'The Brand Trust ReportTM' and of 'India's Most Attractive BrandsTM'. TRA has also ventured into mapping Educational Institutes on a much-needed factor of trust, based on our Brand Trust MatrixTM. Recently, TRA Research also launched the Buying Propensity IndexTM, an economy index to measure the Transactional, Aspirational, and Environmental sentiments towards making buying decisions.


CONTENTS 01

The Ascension of Progress – A Brief Look at the Indian Real Estate Industry

02

Reputation – Every Brand’s Foundation Stone

03

The Brand Rep Score – Methodology

04

Brand Rep Score Workings and Extended Listings

05

Most Reputed Brands – Compiled Listings

06-16

18-20

22-24

26-52

54-58


01 The Ascension of Progress – A Brief Look at the Indian Real Estate Industry 06-16


The Ascension of Progress – A Brief Look at the Indian Real Estate Industry The Indian Real Estate Industry is not just a bunch of people who have come together to fuss over assembled concrete and brick and metal and glass. Nor is the Indian Real Estate Industry just an entity that exists to give people houses to live in. It is not even just an Industry that has reigned supreme in Asia for the best part of the last decade. It is none of these things in exclusivity. When it comes to the Indian Real Estate Industry, the whole is much larger than the sum of its parts. Realty in India is intimately connected to progress, to growth, to business success, and to the asset building of its populace. The state of a city’s Real Estate and infrastructure is as realistic a gauge of its economic standing as any other in practice, and that is why Real Estate is such a fascinating Industry to study.

Here, we will look at the genesis of this Industry in India, at the sea-change the liberalization of 1991 brought to the Sector, the effect conglomerates have had and will have on Realty, and see why Real Estate in India continues to be an investment that is made more from the heart than the head. The Indian Real Estate Industry is comprised of four sub-sectors – residential, commercial, retail, and hospitality. We will be touching on all four, though our primary focus will be on the first two sub-sectors. To kick-start, let’s explore how the Real Estate Industry germinated.

Doors Open, Shut, and Open Again – Indian Real Estate until 2010 India began as a country with renewed vigor once the last British ship went past the horizon in 1947. In the 1950s, India was indeed seen as a country that was open to trade and investments, with high growth rates and a more or less stable fiscal existence. The economy was doing well for itself, backed strongly by men and women who had a common purpose – to prove to themselves and the world that India could not only survive but flourish.

However, India’s first major effort to regularize its Industries through the need for governmentprocessed licenses backfired badly. In a few short decades, India’s economy went from being an ushering host to a barricaded fortress, accessible to a very few. From being under the oppressive rule of the British Raj, India found itself under a new, lethargic, suppressive rule – that of the License Raj. During the peak of the License Raj, private players had to procure licenses from nearly 80 governmental and nodal agencies to begin producing, and even after that, the government made sure they would regulate manufacture, sale, and anything it could get its hands on. It was a very poor environment for growth and business in general. Moreover, the government found its expenditures far higher than the revenues; there was just not enough money flowing, and the government was soon borrowing capital to develop the nation and its infrastructure.

Such was the impact of this sluggish, monopolistic system that its effects can be seen even today. All Industries suffered, and Real Estate and Construction was no exception. In 1991, though, India finally woke up to its festering fiscal state, poor growth rates, and the economic crisis everyone knew was upon them but would not acknowledge. The Center decided to remove a chunk of the regulatory systems and run the economy on globally successful business models. Entrepreneurship was encouraged once again and incentive was given to indigenous Industries.

07


1800s Under British in luence, certain strategic locations of the country become hubs of commerce and trade. These later evolve organically into India's mega-cities, the hotbeds of Real Estate.

1800 - 1900 Major constructions by the British not only give India's cities some iconic sites that stand till today, but much-needed exposure to the science of construction and masonry. George Wittet’s contribution is notable during this time.

1903 Bombay’s iconic Taj Mahal Hotel opens for business; the architects are Indians S. K. Vaidya and D. N. Mirza. It is a major feather in the hat of Indian Architecture.

With the doors open anew, several Industries made the most of it. Real Estate and the Industries that grow organically with it were not left behind. With youth leaving rural roots and moving to the urban landscape in droves for employment and better prospects, the demand for affordable homes was through the roof. In many ways, the Realty Industry in India developed overnight.

The government of the time realized not only the demand aspect of Real Estate but also its potential to employ millions. It saw fit to kill two birds with one stone and opened up Real Estate to FDIs as part of its New Industrial Policy of 1991. Besides that, encouraging steps were taken in the form of 1995 2000 the easing of 1991 policies and discarding of old-world, restrictive rules regarding construction and Real Estate. The urban skyline grew taller and taller and affordable homes and commercial buildings came up in ever-increasing pockets of the country – business was booming. Liberalization has lasting rami ications Reports surface that landlords are reluctant to lease Developers and Financiers sense that a as Real Estate policies are eased and homes because of weak and vague tenancy laws. As boom is coming and expand Well complemented the growing occupational environment and the upward demand for draconian state-controlledby regulations a result, it becomes norm to resort to extra-judicial operations pan-India. They alsooffice begin are done away with. It provides newcommercial measures to evict tenants. Stronger tenancy building inconstruction a hurry and announce space, residential as wella as Real Estate blossomed in India. While kept lease of life to Real Estate companies. legislation takes a full two decades, though. chains of residential projects. millions of youth employed, cities like Mumbai and Kolkata were slowly turning into megacities and

attracting an even bigger chunk of the rural exodus.

Private Equity investments, both domestic and international, kept the lifeblood for the Sector flowing and the prospects healthy. Real Estate saw several joint investment activities by Private Equity funds [like Kotak Realty Fund (KRF) and Everstone Capital] and Non-Banking Financial Companies [like Kohlberg Kravis Roberts (KKR) and Piramal Fund Management] – a trend that continues to this day.

With ever-increasing demand and newly acquired technical know-how to keep adding storey over storey, the structures—both residential and commercial—ascended new heights and so did the profits. Bigger players started pouring capital into Realty and the 1990s saw some of the largest contemporary developers make a fortune; for example, DLF, HDIL, Hiranandani, Godrej Properties, 2005 2006 the Jaypee Group, and Parsvnath Developers. 2006

Although luxury residences were built earlier, they were mostly bungalows or low-rises, but the The National Building Code becomes indiaproperty.com, the country's leading to luxury A study inds that the residential Estateof 1990s and onwards saw the appearance of high-rises dedicated living. The sheerReallack law; it lays down the regulation for safety property portal, is founded. It paves the Industry alone generated close to 7% of space ingreat major cities slowly transformed the pride ofbut multi-storey the day norms in detail and brings India’s way for a hundred otherquotient similar sites, India's GDP.buildings, This igure willuntil gradually drop to Real Estate stipulations to became: retains dominance by both close to 4% in the coming years butwere. recover arrived that safety the assumption the its higher in the skyreach you and lived, the deeper your pockets international standards.

08

number of visitors.

to 6% by FY2015.

Another remarkable phenomenon that helped residential Real Estate become a substantial contributor to India’s GDP (5 – 6% as of 2015) is the sharp and sudden rise of Real Estate costs in the mid- to late1990s. Although Industry insiders are split over the exact reasons that led to the exponential rise in property rates, they agree that the space crunch, the supply-demand disparities, the growth of other amenities in the vicinity of the property, and several other reasons have contributed majorly. Another major contributor was the per capita income of India’s urban population. The near-

2009

2011

2012


1946 DLF is founded by renowned patriot, Major Raghvendra Singh Chaudhary. He was passionate about providing homes to the teeming Indian population, a portion of which was displaced post-1947.

1977 HDFC (Housing Development Finance Corporation) is incorporated. It provides long-term housing loans to lower- and middle-class individuals and inancially assists housing developers. It is one of the most successful initiatives to provide homes to the average Indian.

1978 Hiranandani, one of the top family-run Real Estate companies, is founded by Niranjan Hiranandani. Today, it is a premier luxury and super-luxury developer.

simultaneous and complementary IT boom and the resultant entry of MNCs in India raised the standard of living of the urban Indian and made her/him dream bigger.

As a result of this, by the early 2000s, Real Estate became one of the best investments available to the Indian investor in general and the cautious Indian investor in particular, of which there were thousands upon thousands. With multifarious developers catering to minimalistic, affordable, medium-sized, luxury, and ultra-luxury residences, there was a home for everyone if they had the wherewithal to think of the long term. Financial entities—banks and NBFCs chief among them—understood the 2001business opportunity and came 2004 strong and steady up with offers and schemes 2005 to serve the urban Indian home buyer, focusing specifically on the young or first-time home seekers. Indian Real Estate boomEstate arrives.boom that Eventhe withcountry developershas working at full tilt, a since the Theturn Centerofpermits 100% FDI InThe many ways, the Real experienced the millennium It will last around 6 years and take the housing shortage of close to 20 million units is in construction and has been the best by thing that happened to the Banking Industry asa well. As the costs of projects. Realty kept Indian Economy storm. reported throughout the country. It rises development further 8%the to rest at 22.5 million units the and rose, resulting in financial rising exponentially, the interest rates and interest terms rose next year. in the 2000s till today, and these monies will organizations raking in the benefits of investments made continue to flow for several years to come.

Banking isn’t the only Industry that has blossomed along with Real Estate, though. Several Industries grow organically with Real Estate. The Infrastructure and Construction Industries have benefitted given the need for cities to get more efficient and have better transport networks. The Automobile Industry has been given a major boost as the distances between homes and workplaces got larger and larger. Naturally, the Steel Industry has benefited hugely. And so has Retail to Education and Healthcare, which found a need to be as close as possible to residential hubs. Besides the outer manifestations of the Real Estate Industry we have seen until now, it is important to mention an intrinsic trend that has had a huge effect on the functioning of the Real Estate Industry 2008 2007 2007-08of the Industry over the years and its very ethos, which is, the gradual transformation from existing as pockets of family-owned businesses throughout the country to being more and more professionally managed and moving pan-India. Decentralized companies brought an element of professionalism The corporate Government realizes the acute paucity space in Real Estate The crippling Globalthe Recession is felt on of the best RBI relaxes provisional and culture, giving theofIndian Industry advantages practices seen Indian metros for the burgeoning populace; one of the Indian shores as well, as the great inancial norms to procure loans among international Real Estate companies, including open spaces and international safety norms. measures is the modi ication of the Indian Rent gains made in the last 6 years in Real Estate against property. Control Act. The interests of landlords are better protected and the leasing of homes is encouraged.

is almost nulli ied.

My grandfather used to say, “It is my house; I am paying the bills.” My dad used to say, “It is my house; I pay the mortgage.” My generation says, “It is my house; I pay the rent.”

— Csaba Gabor-B.

(Business Analyst)

New Delhi

2013

2013-14

2014

09


1991 Liberalization has lasting rami ications as Real Estate policies are eased and draconian state-controlled regulations are done away with. It provides a new lease of life to Real Estate companies.

1995 Reports surface that landlords are reluctant to lease homes because of weak and vague tenancy laws. As a result, it becomes norm to resort to extra-judicial measures to evict tenants. Stronger tenancy legislation takes a full two decades, though.

2000 Developers and Financiers sense that a boom is coming and expand operations pan-India. They also begin building in a hurry and announce chains of residential projects.

Connecting the Plots – Of Builders, Hustlers, and Gangsters The Indian Center for Population Studies in Deonar, Mumbai, owns a curious piece of equipment. Outside its gate, set at a height, in full public view, is the Indian population counter. This machine is updated daily, and as anyone with a scientific bent of mind can deduce, it factors India’s daily gain in population and India’s daily death count and throws out a number that is roughly India’s actual population at a given point in time. This counter displayed a massive 1,349,316,790 as of midSept-2016 – that’s nearly 1.35 billion people.

2005

2006

2006

Out of these, the urban population is close to 400 million. Gone are the days when India’s population was concentrated in the villages, where space is quickly reducing but still available for building homes. National Building Code becomes indiaproperty.com, the country's A study thatand the residential Estate InThe urban India, especially in areas close to commercial hubs, leading open spaces are inds rare, even ifReal they do law; it lays down the regulation for safety property portal, is founded. It paves the Industry alone generated close to 7% of exist, there is a developer or a politician lusting after them. But how did the concrete jungle get this norms in great detail and brings India’s way for a hundred other similar sites, but India's GDP. This igure will gradually drop to crowded? Issafety it faulty design given us such abycrowded urban landscape? Iscoming thereyears anbut element Real Estate stipulations to that has retains its dominance both reach and close to 4% in the recover international standards. of visitors. to 6% by FY2015. of design in all this chaos at all, or is it justnumber the result of hustling developers building complex after complex roughshod? The answer to these questions is not really simple; in fact, it has several layers of complexity. The suppliers of this complexity are builders, contractors, and the Underworld.

The saga begins a decade or so before the golden years of India’s Real Estate – 10 years on either side of the year 2000. That the bureaucracy was corrupt at the start of the 1980s is well known and documented, and elaborating on that would only achieve wastage of ink. However, what is less known is the sheer dominating influence the Underworld exercised on Real Estate. Because the bureaucracy was selfish and sluggish, the processing of paperwork and permissions was very laborious and a large pain. The administrative class of those times did not work efficiently or speedily, and the contemporary builders—largely private citizens who would form a committee to begin constructing a housing colony or building—would be thoroughly disillusioned by the time the tens of administrative 2011 departments 2009 that had to be satisfied to begin work were well oiled and satisfied. 2012 This not only left the builders with a bad aftertaste, but also the future homeowners, who the said builder had committed homes to and taken advance monies from. Computerized documentation of land Egged on by corporates implementing their rapid With many players, several Real Estate records becomes mandatory, encouraging growth plans, India's of ice space absorption stands at developers, intalents an effort to out, The Underworld saw their chance and moved in. They—using their not-insignificant atstand coaxing transparency and accountability, easing 40 million sq. ft., the highest recorded igure. This offer bene its to home buyers; for and threatening innocent land owners—forcibly usurped pieces andzero made so that the cross-checks, and keeping a tab on bogus indicates the in lux of MNCs in Indialarge and is an indirect of land example, downit payments, fully papers reflected the interested builders new owners property. Of homes, course, papers and claims. pointer toas thethe widely spread IT boom inof thethe country. furnished and construction modular kitchens.

10

could begin promptly and there was very little delay, which were ideal circumstances for the builders. At the height of this scam, the Underworld had it down to an art form. They ensured the “agent” who interfaced with the builders—the face of the scam, so to say—was a legitimate-businessman-looking puppet. This puppet would disappear immediately after the money for the land was received in full. The legal eagles would find out later the circumstances in which the land was procured and the whole construction standing in that piece of land would become illegal. But eviction of these homeowners and eventual demolishment of the colonies was fraught with legal complications because of the


2001 The Indian Real Estate boom arrives. It will last around 6 years and take the Indian Economy by storm.

2004

2005

Even with developers working at full tilt, a housing shortage of close to 20 million units is reported throughout the country. It rises a further 8% to rest at 22.5 million units the next year.

The Center permits 100% FDI in construction and development projects.

human rights angle. The municipalities were stuck, quite proverbially, between a rock and a hard place. There was no peace for the unfortunate people that inhabited these illegal buildings either, as their life savings had gone into buying that property. Additionally, they were the victims of typically long-drawn-out legal battles.

Black money was another closely-related issue that affected and continues to influence the Indian Real Estate Sector. Industry experts claim that nearly 30% of all residential Real Estate transactions have been affected with black money! In the 80s and 90s, Real Estate provided a safe and highly effective 2007-08 2008 route for black2007 money holders to launder their plunder. And black money hoarders have a knack for speeding up their laundering projects. Through shady contractors and even shadier “agents”, these hustlers of the Indian Real Estate Sector saw to it that their projects were cleared quickly and that they got theirrealizes much-inflated returns pure white. The Government the acute paucity of spacein in a shade Theof crippling Global Recession is felt on RBI relaxes provisional Indian metros for the burgeoning populace; one of the measures is the modi ication of the Indian Rent Control Act. The interests of landlords are better protected and the leasing of homes is encouraged.

Indian shores as well, as the great inancial gains made in the last 6 years in Real Estate is almost nulli ied.

norms to procure loans against property.

More money has been made in Real Estate than in all industrial investments combined. — Andrew Carnegie

(Industrialist and Philanthropist)

Since space was not much of a constraint during the late 1900s, there was very little planning involved and housing complexes came up roughshod. This unplanned and nearsighted development of Real Estate is not specific to the Underworld or money launderers. 100% legitimate contractors Newtoo Delhidid not have the vision to foresee twenty years, or even just ten years, into the and developers future either. Of course, the municipalities, who are supposed to be in charge of land usage in the metros, were 2013 well bribed and developers got2013-14 their pick of land to build on, leading directly to the 2014 clutter we see in metros today. The storyline does not change much for environmental agencies, who are supposed to be in charge of the eco-angle—the “lungs of the city”, if I may—and whose approval was also necessary forslump a Real Estate project toon kick off. of The residential Real Estate Recovering slightly the back As the Government changes, FDI accounts for nearly continues. Research irm Liases Global Economic stability and the 26% of all investments in the Sector in this year; this Foras reports that, pan-India, in low of FDIs, the Real Estate and

igure shoots to nearly 50% over the course of the This lack of urban planning reared its ugly head in Chennai, next Tamil Nadu, on Nov 5, 2015, when the close to 6 lakh housing units have allied sectors rally a comeback in 15 months. Indian Real Estate is well and truly on megacity was unsold. devastated by floods and the subsequent loss of human life. Although everyone was remained India. the route to recovery.

agreed that unplanned, careless, and greedy development had led to this man-made disaster, only insiders of the Real Estate Industry realize how deep-rooted the rot is and how difficult it is going to be to isolate and cull it completely. Let’s make no mistake – the seeds for the disaster in Chennai were laid thirty or even forty years ago by the toxic combination of greed, opportunity, and open land. Due to the lax attitude of the administrative agencies that oversee the Real Estate Industry and the alarming number of safety norms that were being flouted by contemporary builders, by 2005, the

11


2005 The National Building Code becomes law; it lays down the regulation for safety norms in great detail and brings India’s Real Estate safety stipulations to international standards.

2006 indiaproperty.com, the country's leading property portal, is founded. It paves the way for a hundred other similar sites, but retains its dominance by both reach and number of visitors.

2006 A study inds that the residential Real Estate Industry alone generated close to 7% of India's GDP. This igure will gradually drop to close to 4% in the coming years but recover to 6% by FY2015.

National Building Code of India was ratified and came into effect. It details the specifics of the safety norms that are to be followed by Indian developers; its statutes are comparable to international standards. Although the reputed names did follow the Code on pain of losing their hard-fought reputations, the smaller, privately funded builders did not change their ways much.

2009 Computerized documentation of land records becomes mandatory, encouraging transparency and accountability, easing cross-checks, and keeping a tab on bogus papers and claims.

2015

In a major boost, the Center announces the 100 Smart Cities plan. This not only signals turning tides for Real Estate but also indicates the Government’s cognizance of the crucial role of Real Estate.

12

2011 Egged on by corporates implementing their rapid growth plans, India's of ice space absorption stands at 40 million sq. ft., the highest recorded igure. This indicates the in lux of MNCs in India and is an indirect pointer to the widely spread IT boom in the country.

2012 With many players, several Real Estate developers, in an effort to stand out, offer bene its to home buyers; for example, zero down payments, fully furnished homes, and modular kitchens.

2015-16

H1 2016 sees a two-fold rise in Transacted Of ice Space on the back of the Make in India initiative, showcasing that the development-focused Government’s steps to hoist Real Estate is working and the Industry stakeholders are responding.

2016

The Real Estate (Regulation and Development) Act becomes law. It will protect the interests of home owners and increase transparency and accountability.


2007

2007-08

The Government realizes the acute paucity of space in Indian metros for the burgeoning populace; one of the measures is the modi ication of the Indian Rent Control Act. The interests of landlords are better protected and the leasing of homes is encouraged.

2008

The crippling Global Recession is felt on Indian shores as well, as the great inancial gains made in the last 6 years in Real Estate is almost nulli ied.

RBI relaxes provisional norms to procure loans against property.

The 100 Smart Cities Game Plan That the 100 Smart Cities Mission (SCM) plan is a game-changer for the Real Estate Industry has never been in doubt. It has also been quite clear that the Government has openly displayed its favor to this Industry, which is crucial to the moving of the country from third- to first-world. With the first 20 cities out of 98 now selected, the very concept of 100 Smart Cities has gained more New Delhi relevance and meaning in Indian Economy and any general discussion on India today.

2013SCM benefits a city’s infrastructure, 2013-14 water and power supply,2014 Spoken as a whole, sanitation, civic services, urban mobility, IT connectivity, safety against natural disasters, and eGovernance. With timely impetus from civil officials, the country could be looking at cities that would function as The residential Real Estate and slumpthe result Recovering slightly on the back of As the Government changes, and FDI accounts for nearly beacons of progress of the comingling of cooperative authorities an engaged continues. Research irm Liases Global Economic stability and the 26% of all investments in the Sector in this year; this citizenry. Foras reports that, pan-India, in low of FDIs, the Real Estate and

igure shoots to nearly 50% over the course of the close to 6 lakh housing units have

allied sectors rally a comeback in

next 15 months. Indian Real Estate is well and truly on

India.Solutions at JLL India, shares, the route to recovery. Mr. A. remained Shankar,unsold. National Director of Urban “Smart Cities aim to maintain basic infrastructure with best quality and 100% efficiency. The efficiency of the utilities in our cities has been an elusive factor till date, thanks to inadequate monitoring and responsiveness. Electricity, sewerage, storm water drainage, and water supply will be strengthened in the Smart Cities with a smart layer of ICT applications.” These tie in beautifully and organically with a more mature and responsible Real Estate Industry, which is what the country and its people, especially the urban population, sorely need.

Amid all the talk of a mature Real Estate Sector, we cannot ignore the environmental angle. Mr. Shankar remarks, “All identified Smart Cities are focusing on developing more lung spaces within the city. Smart components like cycling, street furniture, jogging tracks, designated hawking spaces, and so on will enhance the aesthetics of the city. Green spaces will get a new dimension with new soft and hard landscapes, equipped with Wi-Fi hotspots, providing ideal areas for citizens to relax, XXX exercise, and XXXX interact. All this plays a major role in creating a healthy and a sustainable environment.” XXXX

With a plan as detailed as SCM sounds (in paper, at least), it does not seem like the day is far when the Indian Real Estate Sector sees a renaissance XXXXX of sorts. No one can deny that goodXXXXXX planning equals XXXX high livability, but will the civic administrators follow through? According to Mr. Shankar, the fact that the selection parameters and timelines for being chosen as a Smart City were met without any extensions by all cities is a significant point. “The prompt submission of paperwork by all cities,” he said, “clearly evidences firm intent and interest of the involved city managers and citizens to have their cities included in the Smart Cities program.”

The 100 Smart Cities Plan is thus set to change the way Indian cities develop, and it is now up to the mission-critical Real Estate Industry to step up.

13


2009 Computerized documentation of land records becomes mandatory, encouraging transparency and accountability, easing cross-checks, and keeping a tab on bogus papers and claims.

2011 Egged on by corporates implementing their rapid growth plans, India's of ice space absorption stands at 40 million sq. ft., the highest recorded igure. This indicates the in lux of MNCs in India and is an indirect pointer to the widely spread IT boom in the country.

2012 With many players, several Real Estate developers, in an effort to stand out, offer bene its to home buyers; for example, zero down payments, fully furnished homes, and modular kitchens.

Is that a House or a Home – The Softer Functionality of Real Estate in India Indians have always laid a lot of stock by the ability of a man to own his own property. His marriage match-finding efforts receive a large boost if he or his father (who will bequeath to the son in question) own their own home. Moreover, a home is a tangible piece of investment that a man (or a couple) makes with a vision at the future. Additionally, it is also something he can bequeath to his heir, which is saying a lot in the obsessively socially-aware Indian society.

However, there is more to this story—much more. For an individual or a family that has been living in 2015 or chawl-type structure or2015-16 2016earlier, moving a makeshift hutment those who have never owned a home into a home of brick and mortar in the urban space brings a world of change. The largest and most significant change is that they now own an address and are registered by the municipality. They cannot beboost, evicted or otherwise dislodged – sees theya two-fold are basically more secure. an address makes In a major the Center announces the H1 2016 rise in Transacted Of ice Having The Real Estate (Regulation and 100 Smart Cities plan. Thisthat not only signals Space on the back of the takes Make inan India initiative, Development) becomes law. them bankable and brings a lot of benefits. Health upturn and they are lessActsusceptible turning tides for Real Estate but also showcasing that the development-focused It will protect the interests of toindicates environmental disorders and illnesses. Moreover, having a home brings an average Indian into the the Government’s cognizance of Government’s steps to hoist Real Estate is working home owners and increase asset the class – her/his pride becomes intimately related to the are home in which they dwell.and accountability. crucial role of Real Estate. and the Industry stakeholders responding. transparency In this way, although owning a home in India for the common man has several benefits related to materialistic changes, what is more impactful is the softer import of this crucial development in an Indian’s life – the social impact, the increased pride and self-worth, and the mental security. And that is why the decision to build and save capital to own one’s own home for the average Indian is one that is made more from the heart than the head.

Even for high net worth individuals, bigger and better Real Estate assets have always been attractive in more ways than just living in a larger home. The wise rich Indian is always looking for the next best investment, and over the last 20 years, the phenomenal returns on Real Estate investments have made it a natural choice for them. They too are building their personal asset class; they too find their self-worth dictated by the largesse of their respective dwellings; and they too are more concerned with the softer functionality of Real Estate in India.

“Real Estate is an imperishable asset, ever increasing in value. It is the most solid security that human ingenuity has devised. It is the basis of all security and about the only indestructible security there is.” — Russell Sage

14

(Financier and US Politician)


New Delhi

2013 The residential Real Estate slump continues. Research irm Liases Foras reports that, pan-India, close to 6 lakh housing units have remained unsold.

2014

2013-14 Recovering slightly on the back of Global Economic stability and the in low of FDIs, the Real Estate and allied sectors rally a comeback in India.

As the Government changes, FDI accounts for nearly 26% of all investments in the Sector in this year; this

igure shoots to nearly 50% over the course of the next 15 months. Indian Real Estate is well and truly on the route to recovery.

Residential Real Estate Recovery of H1 2016 – Truth or Farce? The Indian Real Estate Industry, when seen as a whole, is a study in irony. On the one hand, the ownership of a home is held in very high regard by all Indians, and thus the respect and reputation quotient that personal homes enjoy has been, is, and will always be sky high. In stark contrast, the stakeholders of the Industry—from builders and agents to financiers and backers—many times enjoy a worse than average respect and reputation quotient, and with good reasons too. All things accounted for, even though the latter are to blame for most things wrong with Indian Real Estate today, they have been instrumental in guiding the Industry to where it stands right now. Any Sector, venture, or enterprise Estate always has to go through the rough patch XXX XXXX of the stature of Indian Real XXXX at the beginning – it is the proverbial heat that impure gold needs to endure to become pure. What with developments such as RERA 2016, world-standard safety norms, and the influx of professionally managed Real Estate companies that can be directly attributed as reactions to the involvement of XXXX XXXXX XXXXXX shady characters in the Real Estate Industry, in hindsight, it is really tough to complain.

The contemporary Indian Real Estate Industry thus is now emerging as a more mature, transparent, and accountable entity that has taken cognizance of the responsible role it plays not only in the personal lives of Indians but of the country’s development as well. How else has it recovered from the crippling effects of the Global Economic Crisis of 2008, which lasted until 2013 on paper but has in fact only been allayed in the last 9 months or so as regards Indian Real Estate? Although it is nowhere near the funding it received at its peak, FDIs is once again flowing into the Sector. To help the Sector along, in the Union Budget of 2015-16, the Center allocated USD 3.72 billion for housing and urban development. Schemes like Make in India and The 100 Smart Cities initiative are really giving a boost to Real Estate in India. The Government has also recently approved the launch of the Housing for All by 2022 scheme. According to this scheme, by the year 2022, thirty million homes will be built, mostly for the economically weaker sections of society, through public-private-partnership (PPP) and interest subsidies. Amid all this came the news of the launch of 40,000 residential units in pan-India metros in H1 2016. Although industry experts are split as to whether this is good news or bad (more and more built-up inventory), what is crystal clear is that developers are confident of business in the near future and are ready to put their money behind it. They are reposing confidently on the fact that Indian Real Estate has well and truly recovered and can be what it was once again.

Industry whizzes on the other side of the argument say Real Estate investments will not give the returns it has been giving for the last 20 years, though. But even if this is true, it is nothing but a sign of maturity of the Industry, in that it will have grown out of the superfluous inflation phase and once again be affordable to the common Indian, which it still isn’t to a large degree.

No matter where the Industry is headed; what degree of involvement we will see from foreign investors

15


2015

In a major boost, the Center announces the 100 Smart Cities plan. This not only signals turning tides for Real Estate but also indicates the Government’s cognizance of the crucial role of Real Estate.

2015-16

H1 2016 sees a two-fold rise in Transacted Of ice Space on the back of the Make in India initiative, showcasing that the development-focused Government’s steps to hoist Real Estate is working and the Industry stakeholders are responding.

2016

The Real Estate (Regulation and Development) Act becomes law. It will protect the interests of home owners and increase transparency and accountability.

going forward; or which developers will hit on that perfect balance of location, affordability, and prestige, which the Indian homebuyer longs for, what is beyond a shadow of a doubt is the importance of a good reputation. Reputation in the Indian Real Estate Industry is intimately connected not only with the commercial aspect of business but also sustainability, the scalability of success, and the ability to stand the test of time.

16


XXXX

XXXX

XXX

XXXX

XXXXX

XXXXXX


02 Reputation – Every Brand’s Foundation Stone 18-20


Reputation – Every Brand’s Foundation Stone Reputation is a social asset – capital built on account of an individual’s interaction with society in general and emerging as a result of the society’s general regard for ‘value’, in whatever terms that particular society or group chooses to define it. Reputation builds two important social currencies, Social Worth and Social Inclusion – the two most important drivers of social status. Among humans, this is part of the Social Dominance Axis, which on one side has Reputation as an end state that all humans seek, and at its other end has Achievement.

Social Dominance can be observed at its primary state in animals, with different species adopting different structures to show dominance within the group. Many baboon species comprise of a single dominant male with a harem consisting of females and their young. The dominant males and even females assert their rank by directly showing physical dominance over others through threats, aggression, biting, chasing, and fighting. Other species do it differently; for example, grey wolf pack members value ‘experience’ of the individual in the group, and age helps grey wolves reach the top of the pack ladder. Apart from several ‘social gifts’ the group offers to dominant members, the direct benefits of this social dominance in animals is greater availability of resources and a better shot at reproducing.

It is no different for brands, and the Social Dominance Axis for animals translates into a Brand Dominance Axis for brands, with Brand Reputation and Brand Achievement as its two ends. Apart from peer group benefits like the status and stature of the brand, the Social Capital resulting from Brand Reputation has direct implications on the brand’s economic capital. This ‘appropriate regard of value’ directly results into better associations, partnerships, employees, terms of trade, and even cost of finance. Bigger pay packages for students passing out of reputed education institutes is well known and documented. Brands, knowingly or unknowingly, seek to enhance their Brand Dominance through everything they do, in a way enhancing their ‘pecking order’ through many direct actions and in other subtle and subconscious ways. Since in the Real Estate sector, brands compete for clients and resources from the same basket, the resultant pecking order becomes a key to the survival and growth of brands.

Reputation, which can be thought of as a shorthand for quality, is based on the attitude of Respect exuded by the Real Estate brand – revealed in terms of appropriate regard of 'value'. The concept of value may differ depending on different groups and different situations and is based on varied aspects. Broken down, value is born out of traits such as ability, action, longevity, pedigree, knowledge, performance, and a strong commitment to values. Value is whatever the brand stakeholders consider beneficial in general what the brand group considers very important in specific, and something that is usually not easy to achieve – in the Real Estate Sector, this could be exemplified by aspects like the timely possession of flats, good word-of-mouth publicity and so on. In human societies, we always look to learn from those we respect. Be it elders, society leaders, or achievers, all those who we aspire to be, become our inadvertent teachers. In the brand world too, respected brands become inadvertent teachers to aspirant brands. However, it is important to note the context of culture in Respect – what is respected in one culture may be anathema in another; normal becomes abnormal when we switch the cultural lens. Reputation (good or bad) is a measure of the effectiveness of transmitted belief in the relevant community about attitudes showcasing Respect. That is, when attitudes of Respect towards a brand gets transmitted through different sensory experiences – tactile, vicarious, imagined, or cognitive. The informed network of transmitters of the brand’s Respect include all its stakeholders – employees, partners, investors, thought-leaders in the category, followers of the brand, and most importantly

19


the media. This transmitted belief of Respect reaches out like a wireless signal and the range of its transmission depends on the power of the reputation signal. Reputation is also intrinsically valuable because the transmitters and endorsers also risk their own reputation in the process of the endorsement. Reputation is the net result of the Respect score of a brand and the strength of its transmission, in the case of this report, the media perception score. Reputation hinges on audience perceptions and is very sensitive to changes in attitude, behavior, and action. Reputation can be seen as a tradable medium of exchange, a currency that the brand can earn through positive action, and sometimes lose due to inconsistent behavior, wrong communication, or incorrect action. Based on overt and not-so-obvious actions of the brand, Reputation has to be consistently maintained, monitored, and enhanced.

Reputation is a key intangible asset, and stakeholders constantly recalibrate it based on the actions of the brand. The reason that Reputation is additionally important is that even a little loss or negative Reputation can have a disproportionate dip in the overall Reputation, often having long-term impact on the Reputation health of a Real Estate brand, called here the Brand Rep Score. Perceived or real failures, brand misdemeanors, management ineptitude, and wrong strategies can all be severely detrimental to a brand’s Reputation. Despite it being so obvious, the conduct of leaders of brands in trouble have many times shown a lack of consideration, sometimes inappropriate or inadequate communication, the occasional absence of empathy, or sheer non-acceptance of full responsibility, which has further pulled down the Reputation of the brand at a time when they should be attempting to buttress it. Such wrong action, and in some cases, inaction, can be the Achilles Heel for brands, leaving lasting negative impact on its Reputation. Reputed brands have a following of believers, and therefore carry in them the potential to become thought-leaders in their industry. Most often, what is said and done by reputed brands is emulated by others, giving such brands the power to hold sway over others. Reputation Capital is among the most important intangibles that a brand must attempt to create and sustain, for this one asset has the ability to build all other assets for a brand.

20


REP-OPINION Shishir Baijal

Chairman and Managing Director, Knight Frank (India) Pvt. Ltd.

In Real Estate, the Time for Brands is Right Now

After a long wait, the winds of change have finally started to blow across the Real Estate Sector. The necessary steps towards transforming and streamlining the sector have been taken, and now there is no looking back. Very soon, the new rules for the Sector will be in place, and all the stakeholders will have no option but to realign themselves to be able to survive and function in the changed environment. These new rules of the game will most certainly impact the relationship between developers and homebuyers— the two biggest stakeholders of the Sector. Their relationship in the recent past has certainly not been warm; however, even in such an environment, there were developers who had been doing well. Such instances were, however, few. There were numerous instances of projects being delayed and homebuyers taking developers to court. Strengthening Brand Identity

The ability to meet project deadlines and deliver projects as per schedule has been the biggest challenge for developers in the recent past. However, even in these trying times, there have been developers who have been able to hold their own. The reason for their success is simple – the adoption of good business practices. Thus, several years before the Real Estate (Regulation and Development) Act (RERA), 2016, came into the picture, select progressive developers have been creating their own brand identities. As a result, presently, the chasm between good and not-so-good developers is huge. Soon, though, developers will have no choice but to streamline their businesses in accordance with the provisions of the Act. For consumers, it is a win-win situation, as it will lead to better products and services at competitive prices. If the Act is implemented in true letter and spirit, then most of the ills plaguing the Sector could be a thing of the past. In such an environment, the brand value and the good name that the developer has created in the past will go a long way in further creating goodwill among homebuyers. Unlocking the Value

Over the years, developers have been strategizing to make a mark by creating their own unique brand identities, but the need for building and sustaining a positive brand image has become more important than ever. There are ample examples of reputed developers charging a premium for better products, developing properties in most sought-after locations, and priding themselves with offering the best –inclass services. Going forward, the Act will streamline business practices, and the brand equity created by the developer will be the only differentiator among players in the sector. Creating Value

Even before the winds of change started to blow across the Real Estate Sector, players did recognize the need to create a brand for themselves. Some of them did so through their product offerings and their services, while some of them created their own niche zones and operated only in them. All these initiatives, in their own way, created brands and added to them over the years. The Road Ahead

In some ways, the Real Estate Sector is very similar to other Sectors, especially when it comes to creating a brand and then managing it. Over the years, it has generally been seen that it does not take an experienced eye to identify a developer by looking at their project. The good developers’ brands enjoy that recall value and have protected their brands. The real challenge for developers going forward will be to hold on to their brand and even make them stronger when most will more or less be static.


03 The Brand Rep Score – Methodology 22-24


The Brand Rep Score – Methodology In order to define the study, an understanding of the concept of Reputation is important. However, to be able to measure such an intangible proves cumbersome and the task of defining it in a manner so as to make easy the analysis proves most significant. For our study, we have considered the following definition of Reputation: “Reputation is a measure of the effectiveness of transmitted belief about attitudes showcasing Respect.” In measuring Reputation, we consider both aspects of the definition – the attitudes of Respect as understood by the consumers and the media’s carriage and transmission of the brand’s respect. Media is the ideal representation of the transmission value, in a way, since it acts like a sieve, segregating the chaff, and also because it stakes its own reputation on the news it carries – scrutinising the news for its truthfulness, authenticity, and fairness. In our information-saturated society, we have restricted our analysis to print media as the main transmitter. There are two major reasons for this. Firstly, print media has a very strong impact on audiences, probably because of its habit-forming and tactile nature. Secondly, print publications are still considered a highly trusted source of information. Consumers are more likely to trust what they read in print than what they read online or see on television. We have used print media articles as the lead source of transmission in this study for their triple role as news transmitters, auditors, and carriers. Within the Real Estate industry, 57 brands that have measurable media coverage were selected for the study. BlueBytes tracked all the brands’ news in all the major English and Hindi print media (newspapers and magazines) across 9 cities as a representative of the news across all publications. A total of more than 27,000 articles related to different Real Estate brands were captured in the period between August 15, 2015, and August 15, 2016. The initial part of the compilation exercise included software coding and mining the large amounts of quantitative data. This was followed by a qualification procedure carried about by 12 BlueBytes researchers over 3 months. The completion of these two stages alone accounted for more than 10,000 man-hours of compilation and research. All articles were randomly distributed between the researchers for qualification. To further maintain consistency, an independent team validated each ‘marking’. All financial news was considered for the study.

Measuring the Brand Rep Score

The formula for the Brand Reputation Score (Brand Rep Score) is based on Media Perception and Consumer Perception.

Media Perception The first part of the Media Perception Score is Visibility. This is based on whether the brand name appeared in the headline or whether its picture / logo / product was present alongside the article; the circulation of the publication in which the article was published; size of the article in sq. cm; and whether the mention of the brand in the article was Direct (only on the Real Estate brand being considered), Primary (another brand or brands were mentioned along with the Real Estate brand being evaluated), Secondary (the brand being considered took secondary importance), or Reference (a mere mention of the brand). This part of the Media Perception Score is almost entirely quantifiable. Visibility Score

Size of Article

Circulation of Publication

Total No. of Articles

Media Branding

Dominance

(Where, Dominance: Direct = 100%, Primary = 75%, Secondary = 25%, Reference = 5%)

The second part of the Perception Score is Tonality – this is measured on a 3-point scale (Positive, Neutral, and Negative) and is an essential quality aspect of the Perception Score. Furthermore, what

23


matters more is the tonality of the brand with respect to the industry it is a part of. Thus, BlueBytes calculated the relative positive, neutral, and negative articles of a particular brand as a share of all the articles published about the industry. This was then converted to a weighted tonality by adding the appropriate weights for each. Positive tonality was given +1.5 weightage, neutral tonality was given +1, and negative tonality was given -2; the latter due to the larger impact of negative media articles on brand perception. Finally, a Media Perception Score was calculated for each brand. Relative Tonality

{[

1.5

Positive Relative Tonality

][

1

Neutral Relative Tonality

Media Perception Score

Visibility Score

] [

(-2)

Negative Relative Tonality

]}

4.5

Relative Tonality

Consumer Perception In addition to media analysis, the consumer’s perception was also studied. This part of the analysis was contributed by TRA Research, which interviewed 2,500 ‘consumer-influencers’ on the aspect of Commanding Respect. A Respect Score for each brand was then calculated using the Indian Statistical Institute (ISI) approved proprietary Trust MatrixTM. However, not all Real Estate brands were recalled by consumers in the survey. This challenge was overcome by the addition of the Average Industry Respect Score to individual Real Estate brands’ Respect Scores. The reputation of a brand, after all, is closely tied with the reputation of the parent industry. The final Brand Rep Score was calculated as a simple multiplication of the Perception Score and the Respect Score, since media strongly influences consumer perception and acts like a multiplier. This score was calculated for each Real Estate brand. The formula for the Brand Rep Score is worked out as follows: Brand Rep Score

Media Perception Score

Respect Score

Who is a Consumer-Influencer? TRA Research, as part of its annual country-wide study “The Brand Trust Report”, delves into the Trust Behaviours of the ‘consumer-influencer’, the 10% who impact the other 90% of consumers significantly. This category of respondents is easy to define but quite difficult to pin-point or access – they are busier than normal, and also less approachable because of their active profiles. TRA conducted pilot studies to pin-point this particular target group and came to the conclusion that while all categories make purchase decisions, the level of engagement of salaried persons with other people was much higher than these other categories, especially if they were in the higher salary bracket among their peers. Some important criteria for consumer-influencers are:

24

Male:Female Ratio – 80:20 Age Criterion – 21 to 50 years SEC – A/B Monthly salary income > Rs. 20,000 Not more than 15 interviews to be conducted in any one organization across its office in India

Must be employed in an organisation having more than 200 employees across branches (pan-India) OR Must be employed in an organisation having more than annual Rs. 50 Crores turnover



04 Brand Rep Score Workings and Extended Listings 26-52


Brand Rep Score Workings and Extended Listings

Ranked third in the list is Mumbai-based Lodha Group – with a Brand Rep Score 65% lower than Rank #2 Godrej Properties. Although Lodha Group’s overall share of media coverage was not as high as compared to some other lowerranked brands (for example, Prestige Estates with a high share of 5.18%), its third rank is justified by its higher Visibility Score, which takes into consideration factors apart from volume of news and includes qualitative details such as media branding, newspaper circulation, and so on. (Refer to Chapter 03 for a proper understanding of the methodology used). The same can be said of Mumbai-based Hiranandani Developers, ranked fourth on the list of India’s Most Reputed Real Estate Brands of 2016. Ranked fifth on the list is Tata Housing Development Company, with a Brand Rep Score 18% lower than the company that is ranked fourth. Ranked sixth, Bangalore-based developer, Prestige

Top 10 Indian Real Estate Brands 30,000

25,000

1,200 Brand Rep Score (in '000s)

1,000 800 600 400

1

2

3

4

5

6

7

8

9

10

Lodha Group

Hiranandani

Tata Housing

Prestige Estates

K Raheja Corp

Shapoorji Pallonji

Oberoi Realty

Indiabulls

0

Godrej Properties

200

DLF

Ranking first in our list of India’s Most Reputed Real Estate Brands is DLF, generally believed to be the largest commercial Real Estate developer in the country. In the period from 15 August, 2015 to 15 August, 2016, Gurgaon-based DLF had a high Visibility Score (a component of the Media Perception Score) coupled with a high Respect Score, moving it to the number one spot in the Reputation analysis. In terms of sheer volume, DLF had the strongest media presence, especially over Print Media. However, it must be kept in mind that even though DLF leads our list of Most Reputed Real Estate Brands, it had the highest share of negative media presence along with being the leader in terms of positive and neutraltoned media coverage. The Mumbai-based Godrej Properties ranked second in the analysis, with a Brand Rep Score almost 95% lower than that of DLF. Although its overall share of Industry news coverage was only 9%, compared with DLF’s colossal 22% share, Godrej Properties lagged only slightly behind DLF in terms of its share of the overall positive media coverage of the Real Estate Industry – DLF’s share of positive media coverage was 7%, while Godrej’s share was not far behind at 4% of the Industry’s total share.

Estates, is the only brand from the Garden City to make it to the top ten Most Reputed Real Estate Brands list. Its Brand Rep Score was about 41% lower than Tata Housing and only 5% higher than K Raheja, which is placed seventh in the list. Another Mumbai-based developer, Shapoorji Pallonji, has ranked eighth. Although ranked in the second half of the top ten brands, this Mumbaibased conglomerate is the only one with a legacy spanning 150 years, which includes iconic projects that have become synonymous with the city’s landscape, a feat instantly worthy of the highest regard among its peers. Two other Mumbai-based brands make up the tail-end of the list; coming in at the ninth position is Oberoi Realty, with a Brand Rep Score 11% lower than Shapoorji Pallonji, and finally, rank #10 belongs to Indiabulls Real Estate, which has a Brand Rep Score 6% lower than the company ranked ninth.

27


BRAND REP RANK

01

Brand Rep Score

25,398,838 BRAND REP RANK

02

Brand Rep Score

1,161,957 BRAND REP RANK

03

Brand Rep Score

407,548 28

DLF Headquarter: NCR Projects: Mall of India, Noida; DLF Cyber City, Gurgaon News Gist: Of the total media coverage received by Real Estate brands in India, DLF had a whopping share of 22.49% news coverage, thus accounting for its first rank. From the total industry coverage, about 15% of the news was neutral in tonality justifying its above average media presence. Moreover, DLF’s share of positive news constituted almost 7% of the total industry’s news only 0.5% of the industry-wide news accounted for negative about DLF.

Media Perception Positive

R 70.56 Cr

DLF Plans to Derisk by Completing Projects Before Sale Singapore's GIC invests Rs 2k cr in 2 DLF projects

Neutral

R 24.87 Cr

DLF will not launch new projects in FY17 Judicial panel probing DLF-Vadra deal asks for more time

Negative

R -3.25 Cr

DLF told to pay penalty for delay DLF: Operations remain negative

Godrej Properties Headquarter: Mumbai Projects: Godrej Platinum, Godrej Coliseum, Mumbai; Godrej Millenium, Pune; Godrej Genesis, Kolkata News Gist: Godrej Properties’ total share of media coverage was slightly above average at about 9% of the industry coverage. Of the developer’s 9% share of industry coverage in Print Media, about 55% of it was neutral in tonality while a close 44% of its share of coverage was positively toned. Its negative news in the given period accounted for only 0.004% of industry total. Compared to DLF, Godrej Properties had a slightly lesser share of overall positive news in the industry at 4%.

Media Perception Positive

R 53.42 Cr

Godrej sells space in BKC in largest deal ever Godrej Properties raises $275 m for new fund

Neutral

R 9.82 Cr

Godrej Inds sells 2% in Properties Godrej group sees real estate turnaround in a year

Negative

R -0.02 Cr

Net debt rose from Rs 1,839 crore Q12016 to Rs 2,605 crore in Q3

Lodha Group

Headquarter: Mumbai Projects: Palava City, World One Tower, The Park (Andheri), Lodha Supremas (Thane), Boulevard (Thane), Mumbai News Gist: Lodha Group’s overall news coverage made up 3.67% of the Real Estate industry’s total media coverage. Its positive news made up a measly 1.3% of industry coverage; neutral news constituted a share of 2.31%; while its negative news made up only 0.06%. However, from its own share of media coverage, Lodha Group’s positive news made up 35.38%, its neutral news accounted for almost 62.9% while the negative tonality news made up only 1.68%.

Media Perception Positive

R 20.26 Cr

Lodha Sells 2K Homes in Proposed Thane Project Piramal Fund invests Rs425 crore in Lodha's Mumbai project

Neutral

R 5.57 Cr

Lodha brings together country's greatest artists at Palava Lodha Group's VP Santosh Kumar Joins CloverMark

Negative

R -0.86 Cr

FitchRatings downgrades Lodha Lodha Group fined for 'arbitrarily' nixing allotment


BRAND REP RANK

04

Brand Rep Score

351,391 BRAND REP RANK

05

Brand Rep Score

286,552 BRAND REP RANK

06

Brand Rep Score

167,911

Hiranandani Developers Headquarter: Mumbai Projects: Hiranandani Estate (Thane), Hiranandani Gardens (Powai), Mumbai; 23 Marina, Dubai News Gist: Hiranandani’s overall news coverage made up only 2.9% of the Real Estate industry’s total media coverage. Hiranandani’s positive news made up a measly 0.97% of industry coverage; neutral news constituted a share of 1.91%; while its negative news made up only 0.03%. However, from its own share of media coverage, Hiranandani’s positive news made up 33.5%, its neutral news accounted for almost 65.63% while the negative tonality news made up only 0.87 %.

Media Perception Positive

R 33.93 Cr

TCS leases 2 million sq ft in Hiranandani's Thane project Hiranandani Fortune City launched

Neutral

R 10.27 Cr

No building on open Powai space, SC tells Hiranandani Hiranandani Rejigs Partnership Firm Into a Corporate Entity

Negative

R -0.88 Cr

Hiranandani-Zurich Airport fails to clear security check Construct all low-cost flats you promised: HC tells builder

Tata Housing

Headquarter: Mumbai Projects: Serein, Mumbai; The Promont, Bangalore; Primanti, NCR News Gist: Tata Housing Development Company’s overall news coverage made up only 3.4% of the Real Estate industry’s total media coverage. Tata’s positive news made up a measly 1.96% of industry coverage; neutral news constituted a share of 1.43%; while its negative news made up only 0.01%. However, from its own share of media coverage, Tata’s positive news made up 57.68%, its neutral news accounted for almost 42% while the negative tonality news made up only 0.32%.

Media Perception Positive

R 34.43 Cr

Ties up with Facebook to sell leisure homes in Goa Macquarie, Tata Housing to partner for Rs2,000 cr projects

Neutral

R 6.94 Cr

Tata Value Homes raises $25m Tata exploring opportunities as development manager

Negative

R -0.04 Cr

Tata Sole bidder for Lincoln House; later backed out

Prestige Estates Headquarter: Bangalore Projects: Technostar, Tech Pacific Park, Bangalore; Cyber Towers, Polygon, Chennai News Gist: Prestige Estates’ overall news coverage made up 5.18% of the Real Estate industry’s total media coverage. Prestige’s positive news made up a measly 1.07% of industry coverage; neutral news constituted a high share of 4.09%; while its negative news made up only 0.01%. However, from its own share of media coverage, Prestige Estate’s positive news made up 20.71%, its neutral news accounted for almost 79% while the negative tonality news made up only 0.21%.

Media Perception Positive

R 14.43 Cr

Prestige plans to test the waters with warehousing venture Prestige buys out Red Fort stake in two projects for Rs601 cr

Neutral

R 4.54 Cr

HC stays proceedings of Prestige writ plea Prestige Estates shares correct 6.2% as third quarter numbers disappoint

Negative

R -0.12 Cr

Govt Rejects Claims Over 3.23-acre Whitefield Plot Govt will recover encroached land from Prestige, says Kagodu

29


BRAND REP RANK

07

Brand Rep Score

159,136 BRAND REP RANK

08

Brand Rep Score

151,785 BRAND REP RANK

09

Brand Rep Score

135,461 30

K Raheja Headquarter: Mumbai Projects: The Mindspace Complexes in Mumbai, Hyderabad & Gandhinagar; Commerzone in Pune & Hyderabad News Gist: K Raheja’s overall news coverage made up 2.12% of the industry’s total media coverage. Its positive news made up a measly 0.59% of industry coverage; neutral news constituted a slightly higher share of 1.49%; it had no share of the negative news coverage in the given period. However, from its own share of media coverage, K Raheja’s positive news made up 28.08%, and its neutral news accounted for the remaining 70.38%.

Media Perception Positive

R 12.98 Cr

Eyes Rs 10K-cr turnover from Shoppers Stop, HyperCity To invest Rs2,000 crore on commercial space in Navi Mumbai

Neutral

R 5.32 Cr

To buy out JPMorgan in Rs2,400-crore joint venture" Developers offering inventive amenities such as vertical gardens & terraced farms

Negative

N/A

Shapoorji Pallonji Headquarter: Mumbai Projects: Taj Mahal Tower, Trident Hotel, Brabourne Stadium, The Imperial, Mumbai; UB City, Bangalore; Largest Solar Power Plant in Jodhpur News Gist: Shapoorji Pallonji’s overall news coverage made up 3.85% of the industry’s total media coverage. Its positive news made up a measly 1.04% of industry coverage; neutral news constituted a share of 2.81%; while it had no share of the negative news coverage in the given period. Also, from its own share of media coverage, Shapporji Pallonji’s positive news made up 27% while its neutral news accounted for the remaining 73%.

Media Perception Positive

R 13.23 Cr

Shapoorji Pallonji enters affordable housing with Joyville NHAI allows Shapoorji Pallonji to divest project

Neutral

R 4.03 Cr

Shapoorji Pallonji ropes in ADB, IFC, StanChart for Rs1,700-cr housing co

Negative

N/A

Oberoi Realty

Headquarter: Mumbai Projects: Three Sixty West (Worli), Oberoi Mall (Goregaon), Oberoi International School (Goregaon) News Gist: Oberoi Realty’s overall news coverage made up 4.17% of the Real Estate industry’s total media coverage. Oberoi Realty’s positive news made up a measly 1.15% of industry coverage; neutral news constituted a high share of 2.97%; while its negative news made up only 0.05%. However, from its own share of media coverage, Oberoi Realty’s positive news made up 27.6%, its neutral news accounted for almost 71.18% while the negative tonality news made up only 1.22%.

Media Perception Positive

R 12.42 Cr

Oberoi to Focus on Faster Growth Through Management Contracts Oberoi Realty beats slowdown with launches; launches Sky City

Neutral

R 4.64 Cr

Strong show ahead for Oberoi Realty Oberoi Shutdown Not to Hurt Many Staffers

Negative

R -0.09 Cr

FIR against SBI and Oberoi Realty over 'dubious' auction of 5-star


BRAND REP RANK

10

Brand Rep Score

126,657 BRAND REP RANK

11

Brand Rep Score

66,200 BRAND REP RANK

12

Brand Rep Score

45,017

Indiabulls Real Estate Headquarter: Mumbai Projects: One Indiabulls Centre, Indiabulls Financial Centre, The Hub (Business Centre) Mumbai; One09, Gurgaon News Gist: Indiabulls Real Estate’s overall news coverage made up 4.15% of the Real Estate industry’s total media coverage. Its positive news made up a measly 1.45% of industry coverage; neutral news constituted a share of 2.69%; while its negative news made up only 0.01%. However, from its own share of media coverage, Indiabull’s positive news made up 34.93%, its neutral news accounted for almost 64.89% while the negative tonality news made up only 0.17%.

Media Perception Positive

R 12.21 Cr

Indiabulls Real Estate cuts debt by 16% in FY16 Indiabulls Group to invest Rs 25,000 crore in Haryana

Neutral

R 6.38 Cr

Indiabulls offices, promoter house raided by taxmen S&P gives stable outlook to Indiabulls Real Estate

Negative

R -0.14 Cr

I-T dept summons Indiabulls chief

Mahindra Lifespaces

Headquarter: Mumbai Projects: Splendour, Great Eastern Gardens, Mahindra Gardens, Mumbai; Royale News Gist: Mahindra Lifespaces’ overall news coverage made up 2.23% of the industry’s total media coverage. Mahindra Lifespaces’ positive news made up a measly 0.66% of industry coverage; neutral news constituted a share of 1.57%; while its negative news made up only 0.003%. However, from its own share of media coverage, its positive news made up almost 29%, its neutral news accounted for almost 70% while the negative tonality news made up only 0.16%.

Media Perception Positive

R 12.36 Cr

Mahindra Lifespace Settles Issues Over SoBo Property Mahindra Realty Arm to Step Up Mumbai Focus

Neutral

R 5.30 Cr

JDA slaps Rs322 crore demand notice on Mahindra Lifespace

Negative

R -0.02 Cr

Mahindra Lifespace Q3 net profit down 76%

Embassy Group

Headquarter: Bangalore Projects: Embassy Paragon, Embassy Star, Embassy Prime, Victoria Embassy (Bangalore Central) News Gist: Embassy’s overall news coverage made up 2.63% of the Real Estate industry’s total media coverage. Embassy’s positive news made up a measly 1.08% of industry coverage; neutral news constituted a slightly higher share of 1.56%; while it had no share of the negative news coverage in the given period. Also, from its own share of media coverage, Embassy’s positive news made up 40.85% while its neutral news accounted for the remaining 59.15%.

Media Perception Positive

R 1.26 Cr

Betting on GST, Embassy enters warehousing Realty tycoon sends B'lum co stock surging

Neutral

R 0.13 Cr

Embassy Buys Land for Biz Park in City Shared workspace concept catches on in India

Negative

N/A

31


BRAND REP RANK

13

Brand Rep Score

42,900 BRAND REP RANK

14

Brand Rep Score

39,248 BRAND REP RANK

15

Brand Rep Score

34,928 32

Jaypee Group (JayPee Greens) Headquarter: NCR Projects: Jaypee Greens (Greater Noida), Jaypee Greens Wish Town (Agra), Jaypee Greens Sports cIty (Noida) News Gist: Jaypee Real Estate’s overall news coverage made up 1.59% of the Real Estate industry’s total media coverage. Jaypee Real Estate’s positive news made up a measly 0.28% of industry coverage; neutral news constituted a share of 1.21%; while its negative news made up only 0.1%. However, from its own share of media coverage, Jaypee Real Estate’s positive news made up almost 17%, its neutral news accounted for almost 76% while the negative tonality news made up only 6.39%.

Media Perception Positive

R 5.87 Cr

Jaypee to give 5,300 flats in 2 mths CCI Dismisses Complaint Against Jaypee

Neutral

R 7.89 Cr

Jaypee Group to sell its HQ to clear debt? SC Stays Jaypee Penalty for Kalypso Project Delay

Negative

R -1.59 Cr

Jaypee Associates reveals default on Rs 4.5k-cr debt NCDRC Slaps 12% Penalty on Jaypee

HDIL

Headquarter: Mumbai Projects: HDIL Industrial Park (Thane), Harmony (Goregaon), Galaxy Apartments, 54 Corporate Park, Mumbai and the Mumbai Airport Rehabilitation Project News Gist: HDIL’s overall news coverage made up 2.71% of the Real Estate industry’s total media coverage. HDIL’s positive news made up a measly 0.62% of industry coverage; neutral news constituted a share of 2.05%; while its negative news made up only 0.04%. However, from its own share of media coverage, HDIL’s positive news made up 22.76%, its neutral news accounted for 75.77% while the negative tonality news made up only 1.47%.

Media Perception Positive

R 6.41 Cr

HDIL sells 4-acre plot in Kurla for Rs650 crore Promoter to Infuse Rs.150 cr in HDIL via Share Warrants

Neutral

R 2.43 Cr

Maintain 'overweight'on HDIL, price target Rs 140 Merrill Lynch offloads HDIL stake

Negative

R -0.05 Cr

HDIL Q2 net profit down 7% at Rs57.79crore

Brigade Group

Headquarter: Bangalore Projects: Signature Club Resort, Brigade Point, Brigade Residential Apartments across South India News Gist: Brigade Group’s overall news coverage made up 2.36% of the industry’s total media coverage. Its positive news made up a measly 0.67% of industry coverage; neutral news constituted a slightly higher share of 1.69%; while it had no share of the negative news coverage in the given period. Also, from its own share of media coverage, Brigade Group’s positive news made up 28.42% while its neutral news accounted for the remaining 71.58%.

Media Perception Positive

R 8.64 Cr

Brigade unveils Plumeria luxury apartments Brigade Group Shifts Focus to Rent yielding Office Properties

Neutral

R 2.58 Cr

Brigade buys Nerolac's Chennai plot for Rs.537 cr Brigade Hospitality plans Rs 1k-cr expansion

Negative

N/A


REP-OPINION Sudip Mullick Partner, Khaitan & Co

The enactment of Real Estate (Regulation & Development) Act, 2016, brings with it huge promise for traditional stakeholders like developers, unit purchasers, and Real Estate brokers. Besides traditional stakeholders, RERA will possibly open up opportunities for new players as well. Insofar as fly-by-night developers are concerned, they may not be able to endure the RERA regime. Only developers who already have or intend to have disciplined business practices would be able to sustain and grow. It appears that in order to comply with the various provisions of the Act—arranging finance for development, liability towards structural defects and workmanship for 5 years, insurance towards title and building— developers will see an increase in project costs. Also, due to the present market scenario of sluggish sales, developers may not be able to pass on these additional costs to the buyers, resulting in lowered margins. Adherence to the principle of “carpet-area-based pricing” under RERA would also bring about much-needed clarity and transparency. This would eliminate confusing and often misleading information about the variable loading factors and allow buyers to effectively compare offerings of various developers. Since promoters have to periodically publish data relating to approvals, bookings, stages of the project, and so on, buyers will have full knowledge about the project’s progress and can better plan their finances, accommodation, and movement.

However, since the definition of carpet area excludes balconies, it may force promoters, in order to remain competitive (at least for the low-budget or affordable housing residential sector) to construct buildings without balconies. It must be noted, though, that such properties without balconies may not be good for ultimate use and comfort of the buyers, besides compromising the aesthetic values in town planning and development.

Traditionally, we have seen promoters of Real Estate companies running the show themselves. With the rigor of compliance and the sword of Damocles hanging over the heads of directors and managers, we may see the advent or change in the management style and the emergence of professional managers. Decision making and conduct of business would become more transparent, professional, and be at an arm’s length. We could well see Real Estate companies embracing the Three Pillar Model of business decisions – Strategy, Law, and Ethics.

The Act also brings in new business opportunities for players like insurance companies (if the requirement to procure title insurance sees the light of day) and engineering firms (in case of projects in distress due to the inability of the developer to complete construction and the buyers taking over). RERA would also open up new horizons for professionals like Chartered Accountants, Architects, and Engineers for the compulsory certifications that are required.

It is laudable that the Act also brings on-going projects into its ambit. While a large number of buyers are interested in such on-going projects, caution should be exercised by the implementing authorities to ensure that, in its pursuit to produce beneficial results for the buyers, the developer should not be squeezed in a manner that they are unable to complete the project. The energy of all concerned should be channelized towards completing the on-going project rather than having a vindictive attitude towards the erring developers. The authorities should also endeavor to signal that it would not entertain frivolous litigations. To sum it up, RERA demonstrates the right intentions to bring about a conscious and conscientious shift towards transparency and timely delivery. It also gives a decisive direction for developers to mend their ways of doing business and adopt the professional approach, which will enhance their Reputation and ability to attract large, sustained investments from both domestic and foreign players. It also promises to open fruitful business opportunities for new stakeholders like insurance companies, engineering companies, and so on. However, like all regulations, everything will depend on the implementation in letter and spirit by State Governments and the execution and interpretation by the Authority constituted under the Act.


BRAND REP RANK

16

Brand Rep Score

32,725 BRAND REP RANK

17

Brand Rep Score

32,602 BRAND REP RANK

18

Brand Rep Score

29,349 34

RMZ Corp Headquarter: Bangalore Projects: RMX Ecoworld, RMZ Infinity, RMZ Futura IT Park, Bangalore; RMZ Infinity, Mumbai; RMZ lcon, Pune News Gist: RMZ Corp’s overall news coverage made up 1.62% of the Real Estate industry’s total media coverage. RMZ Corp’s positive news made up a measly 0.54% of industry coverage; neutral news constituted a slightly higher share of 1.08%; while it had no share of the negative news coverage in the given period. Also, from its own share of media coverage, RMZ Corp’s positive news made up 33.18% while its neutral news accounted for the remaining 66.82%.

Media Perception Positive

R 7.25 Cr

RMZ buys Essar Biz Park in Mumbai for Rs 2,400cr RMZ Corp in Talks to Raise $500M

Neutral

R 1.43 Cr

RMZ eyes No 1 slot in office owner RMZ & Qatar Investment Au­thority buy 800,000 sq ft office building BPTP Crest in Gurgaon

Negative

N/A

Supertech

Headquarter: NCR Projects: Supertech Eco Estate, Avant Garde, Rameshwar Orchids, 34 Pavillion, Emerald Court, Shopprix Mall, Noida News Gist: Supertech’s overall news coverage made up 1.33% of the Real Estate industry’s total media coverage. Supertech’s positive news made up a measly 0.46% of industry coverage; neutral news constituted a share of 0.78%; while its negative news made up only 0.1%. However, from its own share of media coverage, its positive news made up 34.33%, its neutral news accounted for 58.31% while the negative tonality news made up 7.36%.

Media Perception Positive

R 8.66 Cr

Supertech to invest Rs.5,706 cr in Haryana With focus onconsumers, Supertech redefines real estate

Neutral

R 2.58 Cr

SC to Supertech: Deposit Rs 5 crore by July 25 Supertech defends against Greater Noida body order

Negative

R -1.73 Cr

Supertech Pays Rs415 cr to PE Fund Xander Completion certificate dispute likely to hit flat buyers in Supertech project

HCC Real Estate

Headquarter: Mumbai Projects: Lavasa Corp and 247 IT Park (Vikhroli), Mumbai News Gist: HCC Real Estate’s overall news coverage made up 2.18% of the Real Estate industry’s total media coverage. HCC Real Estate’s positive news made up a measly 0.74% of industry coverage; neutral news constituted a share of 1.38 %; while its negative news made up only 0.07%. However, from its own share of media coverage, HCC Real Estate’s positive news made up 33.72%, its neutral news accounted for 63.12% while the negative tonality news made up 3.16%.

Media Perception Positive

R 5.59 Cr

HCC bags NTPC order worth Rs 635-cr Inflow of new orders positive for HCC

Neutral

R 2.26 Cr

Lavasa lets IPO approval lapse a second time HCC Confident of Turning Free of Debt if Govt Agencies Pav Up

Negative HCC bottom line sinks 29%

R -0.34 Cr


BRAND REP RANK

19

Brand Rep Score

26,562

Sobha Headquarter: Bangalore Projects: Sobha City Mall, Thrissur; Sobha Residential Complexes across Bangalore, Pune, and Coimbatore. News Gist: Sobha Limited’s overall news coverage made up 2% of the Real Estate industry’s total media coverage. Sobha Limited’s positive news made up a measly 0.41% of industry coverage; neutral news constituted a share of 1.45%; while its negative news made up only 0.14%. However, from its own share of media coverage, Sobha Limited’s positive news made up 20.47%, its neutral news accounted for 72.82% while the negative tonality news made up 7.25%.

Media Perception Positive

R 6.15 Cr

Sobha, Chintels to Build 1,700 Flats in Gurgaon Sobha achieves new sales of 8 lakh sq feet in Q3

Neutral

R 2.64 Cr

Sobha's buy-back decision: much ado about nothing Sobha Caught in Realty Sector Slump

Negative

R -0.79 Cr

Sobha Q3 profit falls 46.5% to Rs 32 crore Realty firm Sobha's sales subdued, negatives priced into stock

About Sobha Limited: Sobha was established in 1995 by Mr. P. N. C. Menon. It is the only backward-integrated Real Estate company in the country. Sobha’s philosophy is “Passion at Work”. Headquartered in Bangalore, Sobha is primarily focused on residential and contractual projects. The Company’s residential projects include presidential apartments, villas, row houses, luxury and super luxury apartments, plotted development, and aspirational homes. On the contracts side, the Company has constructed a wide variety of structures for corporates, including corporate offices, convention centres, software development blocks, multiplex theatres, hostel facilities, guest houses, food courts, restaurants, research centres, and club houses. Some of Sobha’s prestigious corporate clients include Infosys, Taj Group, Dell, HP, Timken, Biocon, Institute of Public Enterprises (IPE), Bosch, Hotel Leela Ventures, and others. Since its inception, Sobha has completed 113 Real Estate projects and 278 contractual projects, covering about 82.55 million sq. ft. of area. The Company currently has ongoing Real Estate projects aggregating to 40.42 million square feet of developable area and 28.40 million sq. ft. of saleable area, and on-going contractual projects aggregating to 8.70 million sq. ft. under various stages of construction. The Company has a Real Estate presence in 9 cities, that is, Bangalore, Gurgaon, Chennai, Pune, Coimbatore, Thrissur, Calicut, Cochin, and Mysore. Overall, Sobha has its footprint in 25 cities and 13 states across India. Sobha is among the first companies in the industry to obtain the ISO 9001 certification. The Company has also received the OHSAS 18001:2007 and ISO 14001:2004 certifications for Environmental, Health, and Safety Management Systems. Salient Features of the Company The backward-integration model is one of the key competitive strengths of Sobha. Backwardintegration implies that the Company has all the competencies and in-house resources to deliver a project from conceptualization to completion. This includes an Interiors Division, a Metal Works and Glazing factory, and a Concrete Products factory. Sobha has also diversified into the retail business with spring mattresses under the brand name Sobha Restoplus. More than 27 variants of mattresses are produced by the mattress division.

On-going Projects Bangalore: Sobha Lifestyle Legacy Presidential Villa, Sobha Silicon Oasis, Sobha Landscape Premium Villa Plots, Sobha Dream Acres Delhi-NCR: International City Township, Sobha City Apartments Pune: Sobha Elanza, Sobha Garnet, Sobha Orion Chennai: Sobha Serene, Sobha Meritta, Sobha Winchester Apartments, Sobha Evergreens Thrissur: Sobha City Townships Coimbatore: Sobha Elan, Sobha Westhill Cochin: Sobha Isle Apartments

35


BRAND REP RANK

20

Brand Rep Score

24,998

Ashoka Developers & Builders Headquarter: Hyderabad Projects: Ashoka Metropolitan Mall, Ashok Plaza, Ashok-MyhomeChambers, Ashok-Bhoopal Chambers, Ashok-HI-TECH-Chambers, Hyderabad News Gist: Ashoka Builders’ overall news coverage made up 2.38% of the Real Estate industry’s total media coverage. Ashoka Builders’positive news made up a measly 0.58% of industry coverage; neutral news constituted a share of 1.81%; while its negative news was nil. Also, from its own share of media coverage, Ashoka Builders’positive news made up 24.16%, while the remaining neutral news accounted for 75.84%.

Media Perception Positive

R 3.77 Cr

Developers are keen to boost the residential sector in industrial corridors such as Balanagar, Jeedimetla and Uppal

Neutral

R 2.49 Cr

Rainbow Vistas” integrated township developed by ADBL and Cybercity Builders & Developers

Negative

N/A

About Ashoka Developers & Builders: Incorporated in 1989, Ashoka Developers & Builders Ltd. (ADBL) is one of Andhra Pradesh’s leading Real Estate developers. It was awarded the Most Preferred Builder in overall South India in 'HAMARA GHAR' brand from Smart Living Awards – the first award that recognized the best Indian brands in the housing and household (products and services) domain conducted by Times Innovative Media Pvt. Ltd. Ashoka Developers was also awarded the Rashtriya Nirman Ratan Award for Excellence in the Chosen Field of Business from India International Council for Industries and Trade. Some of Ashoka’s clients include Dr. Reddy’s Laboratories, Citi, State Bank of India, Ernst and Young, Bose, and Standard Chartered, among others.

Salient Features about the Company Ashoka Developers (in partnership with Cybercity Builders and Developers) has provided its expertise in developing the project “Rainbow Vistas”—a world-class integrated township with high-rise residential towers and commercial and leisure zones—as part of Cybercity, Hyderabad. Phase I of Rainbow Vistas was launched in May 2009. Ongoing Projects Hyderabad: Ashoka A-La-Maison Annexe, Ashoka Liviano

BRAND REP RANK

21

Brand Rep Score

24,266 36

DB Realty

Headquarter: Mumbai Projects: DB Crown, Orchid Heights, DB Woods, Orchid Suburbia and DB Ozone News Gist: DB Realty’s overall news coverage made up 2% of the Real Estate industry’s total media coverage. DB Realty’s positive news made up a measly 0.16% of industry coverage; neutral news constituted a share of 1.82%; while its negative news made up only 0.02%. However, from its own share of media coverage, DB Realty’s positive news made up 7.97%, its neutral news accounted for a high majority i.e. 90.94% while the negative tonality news made up 1.09%.

Media Perception Positive

R 1.35 Cr

DB Hospitality, Reliance Group Team up for Aerocity Project

Neutral

R 3.15 Cr

Piramals close to buying DB Realty's Mumbaiplot for 1kcr

Negative

R -0.48 Cr

Buyers Move Consumer Body against DB Realty



BRAND REP RANK

22

Brand Rep Score

13,220 BRAND REP RANK

23

Brand Rep Score

10,463 BRAND REP RANK

24

Brand Rep Score

9,813 38

Rustomjee Headquarter: Mumbai Projects: Global City (Virar), Elita (Juhu), Rustomjee La Roche (Bandra), Rustomjee Sangam, Mumbai News Gist: Rustomjee’s overall news coverage made up 0.57% of the Real Estate industry’s total media coverage. Rustomjee’s positive news made up a measly 0.16% of industry coverage; neutral news constituted a slightly higher share of 0.41%; while it had no share of the negative news coverage in the given period. Also, from its own share of media coverage, Rustomjee’s positive news made up 28.21% while its neutral news accounted for the remaining 71.79%.

Media Perception Positive

R 9.91 Cr

Rustomjee unveils luxury complex at Bandra-Khar

Neutral

R 1.98 Cr

Farm Fest held at Rustomjee Urbania

Negative

N/A

Sunteck Realty

Headquarter: Mumbai Projects: Sunteck Centrako, Mumbai; Sunteck Kanaka, Goa; News Gist: Sunteck Realty’s overall news coverage made up 0.91% of the Real Estate industry’s total media coverage. Sunteck Realty’s positive news made up a measly 0.40% of industry coverage; neutral news constituted only a slightly higher share of 0.51%; while it had no share of the negative news coverage in the given period. Also, from its own share of media coverage, Sunteck Realty’s positive news made up 44% while its neutral news accounted for the remaining 56%.

Media Perception Positive

R 6.96 Cr

KKR Invests Rs.15O cr in 2 Sunteck Realty Projects Sunteck Realty Looks to Raise Rs.100 crore Through NCDs

Neutral

R 1.56 Cr

Sunteck Offers Kotak Fund over X270-cr Exit Option

Negative

N/A

Wadhwa Group

Headquarter: Mumbai Projects: The Capital (BKC), Glenmark (Andheri), Trade Centre (BKC), Palm Beach Residency (Vashi), Mumbai News Gist: Wadhwa Group’s overall news coverage made up 0.78% of the industry’s total media coverage. Wadhwa Group’s positive news made up a measly 0.24% of industry coverage; neutral news constituted only a slightly higher share of 0.54%; while it had no share of the negative news coverage in the given period. Also, from its own share of media coverage, Wadhwa Group’s positive news made up 30.56% while its neutral news accounted for the remaining 69.44%.

Media Perception Positive

R 3.90 Cr

Wadhwa Group plans to raise Rs500 crore

Neutral

R 2.29 Cr

Wadhwa Group to House 1st Ferrari Showroom in City

Negative

N/A


BRAND REP RANK

25

Brand Rep Score

9,093 BRAND REP RANK

26

Brand Rep Score

8,934 BRAND REP RANK

27

Brand Rep Score

7,468

Nahar Group Headquarter: Mumbai Projects: Shah & Nahar Industrial Estate, Nahar Business Centre, Sarvodaya Nagar (Mulund), Mumbai News Gist: Nahar Group’s overall news coverage made up 0.51% of the Real Estate industry’s total media coverage. Nahar Group’s positive news made up a measly 0.13% of industry coverage; neutral news constituted only a slightly higher share of 0.38%; while it had no share of the negative news coverage in the given period. Also, from its own share of media coverage, Nahar Group’s positive news made up 24.82% while its neutral news accounted for the remaining 75.18%.

Media Perception Positive

R 6.05 Cr

Nahar Group launches project Excalibur

Neutral

R 3.45 Cr

Status quo on rates disappoints realty sector" "Real estate in India will be up more expensive for NRIs" - Manju Yagnik

Negative

R N/A

Amrapali Group

Headquarter: NCR Projects: West Galleria Mall (Noida), Amrapali IT Park (Greater Noida), Adarsh Awas Yojana (Greater Noida) News Gist: Amrapali Group’s overall news coverage made up only 0.66% of the Real Estate industry’s total media coverage. Amrapali Group’s positive news made up a measly 0.1% of industry coverage; neutral news constituted a share of 0.53%; while its negative news made up only 0.04%. However, from its own share of media coverage, Amrapali Group’s positive news made up 14.75%, its neutral news accounted for 79.78% while the negative tonality news made up 5.46%.

Media Perception Positive

R 2.89 Cr

Amrapali to develop Rs2k-cr project for govt Amrapali Launches Adarsh Awas Yojna

Neutral

R 2.28 Cr

Amrapali Group Gives Partial Exit to Two Funds Amrapali defends Dhoni

Negative

R -1.28 Cr

Dhoni faced the social media ire of customers of Amrapali Group

Ashiana Housing

Headquarter: NCR Projects: Ashiana Utsav (Lavasa); Ashiana Dwarka (Jodhpur); Vrinda Gardens (Jaipur) News Gist: Ashiana Housing’s overall news coverage made up only 0.51% of the industry’s total media coverage. Ashiana Housing’s positive news made up a measly 0.14% of industry coverage; neutral news constituted a slightly higher share of 0.37%; while it had no share of the negative news coverage in the given period. Also, from its own share of media coverage, Ashiana's positive news made up 28.17% while its neutral news accounted for the remaining 71.83%.

Media Perception Positive

R 7.88 Cr

Ashiana to launch residential for old

Neutral

R 1.03 Cr

Ashiana already operates in the region of Sohna, South Gurgaon

Negative

N/A

39


BRAND REP RANK

28

Brand Rep Score

6,977 BRAND REP RANK

29

Brand Rep Score

6,737 BRAND REP RANK

30

Brand Rep Score

4,863 40

Puravankara Developers Headquarter: Bangalore Projects: Purva Pavillion, Purva Gainz, Purva Atria, Bangalore; Purva Primus, Chennai; Purva Summit, Hyderabad News Gist: Puravankara Developers’ overall news coverage made up only 0.99% of the industry’s total media coverage. Puravankara’s positive news made up a measly 0.36% of industry coverage; neutral news constituted a slightly higher share of 0.63%; while it had no share of the negative news coverage in the given period. Also, from its own share of media coverage, Puravankara’s positive news made up 36.03% while its neutral news accounted for the remaining 63.97%.

Media Perception Positive

R 4.74 Cr

Puravankara Projects plans rs 1,000 cr capex Puravankara forays into Pune real estate market

Neutral

R 1.44 Cr

Puravankara eyes Rs700cr sales Puravankara plans to exit Raidurg project

Negative

N/A

Mantri Developers

Headquarter: Bangalore Projects: Mantri Sterling, Mantri Alpine, Manikchand Ikon, Pune News Gist: Mantri Developers’ overall news coverage made up 0.65% of the Real Estate industry’s total media coverage. Mantri Developers’ positive news made up a measly 0.24% of industry coverage; neutral news constituted a share of 0.37%; while its negative news made up only 0.05%. However, from its own share of media coverage, Mantri Developers’ positive news made up 36.31%, its neutral news accounted for a high majority i.e. 56.42% while the negative tonality news made up 7.26%.

Media Perception Positive

R 3.97 Cr

Raises Rs165 Cr From Piramal Fund for 2 projects KKR to invest Rs 145 crore in Mantri Developers's project

Neutral

R 1.33 Cr

Mantri Creditors Seek HC Nod to Sell Assets Mantri Developers Seeks Rs.1k-cr Relief from T'gana Govt

Negative

R -1.14 Cr

Mantri quits as builder body NAREDCO chief Court Orders Liquidation of Mantri Realty's Major Assets

Emaar Group

Headquarter: NCR Projects: The Palm Springs, The Palm Square, Gurgaon; Common Wealth Games Village 2010, Delhi News Gist: Emaar Group’s overall news coverage made up 1.34% of the Real Estate industry’s total media coverage. Emaar Group’s positive news made up a measly 0.25% of industry coverage; neutral news constituted a share of 0.76%; while its negative news made up only 0.33%. However, from its own share of media coverage, Emaar Group’s positive news made up 18.38%, its neutral news accounted for 57.03% while the negative tonality news made up 24.59%.

Media Perception Positive

R 2.92 Cr

Emaar MGF readies Palm Springs Plaza for delivery Emaar plans world's tallest tower

Neutral

R 1.98 Cr

Emaar MGF denies links with AgustaWestland Uttarakhand govt seeks loan to pay Emaar MGF for tea gardens

Negative

R -1.44 Cr

Emaar MGF to compensate 3 NRIs Emaar MGF Land told to pay Rs2cr to customer



BRAND REP RANK

31

Brand Rep Score

3,886 BRAND REP RANK

32

Brand Rep Score

3,649 BRAND REP RANK

33

Brand Rep Score

3,564 42

Kalpataru Group Headquarter: Mumbai Projects: Asian Paints House (Santacruz), Korum (Thane), Mumbai; Kalpataru Arcade (MG Road), Pune News Gist: Kalpataru Group’s overall news coverage made up only 0.49% of the industry’s total media coverage. Kalpataru's positive news made up a measly 0.17% of industry coverage; neutral news constituted a slightly higher share of 0.32%; while it had no share of the negative news coverage in the given period. Also, from its own share of media coverage, Kalpataru's positive news made up 34.07% while its neutral news accounted for the remaining 65.93%.

Media Perception Positive

R 3.93 Cr

Kolkata Co Can't Use Kalpataru Trade Name' " Kalpataru launches housing project in Hyderabad"

Neutral

R 0.42 Cr

Kalpataru focus on leasing to ride out sales slump

Negative

N/A

Gaursons India

Headquarter: NCR Projects: Crossing Republic, Gaur Yamuna City, Gaur Gravity, Gaur Biz Park, NCR News Gist: Gaursons’ overall news coverage made up only 0.37% of the Real Estate industry’s total media coverage. Gaursons’ positive news made up a measly 0.13% of industry coverage; neutral news constituted a slightly higher share of 0.24%; while it had no share of the negative news coverage in the given period. Also, from its own share of media coverage, Gaursons’ positive news made up 34.95% while its neutral news accounted for the remaining 65.05%.

Media Perception Positive

R 3.44 Cr

"Only way out from the present crisis is for developers to complete projects"-MD

Neutral

R 0.77 Cr

Gaursons faces residents' heat for Noida township

Negative

N/A

Ansal Housing

Headquarter: NCR Projects: Ansals Amantre, Ansals Heights, Gurgaon; Ansals Royal Galleria, Indore News Gist: Ansal Housing’s overall news coverage made up only 0.33% of the industry’s total media coverage. Ansal Housing’s positive news made up a measly 0.08% of industry coverage; neutral news constituted a share of 0.22%; while its negative news made up only 0.04%. However, from its own share of media coverage Ansal's positive news made up 23.08%, its neutral news accounted for a high share of 65.93% while the negative tonality news made up 10.99%.

Media Perception Positive

R 5.76 Cr

Ansal Housing forays into Greater Noida with Rainbow

Neutral

R 0.87 Cr

Realtors in Murkier Waters over Cartelisation Charges

Negative

R -0.15 Cr

SC Asks Ansals to Pay Rs60 cr for Trauma Centre in Delhi


BRAND REP RANK

34

Brand Rep Score

3,408 BRAND REP RANK

35

Brand Rep Score

2,984

Unitech Headquarter: NCR Projects: Arcadia, Global Business Park, Gurgaon; Rohini Metro Walk, Delhi; Unitech Heights, Greater Noida News Gist: Unitech’s overall news coverage made up 0.63% of the Real Estate industry’s total media coverage. Unitech’s positive news made up a measly 0.04% of industry coverage; neutral news constituted a share of 0.59%; while its negative news made up only 0.003%. However, from its own share of media coverage, Unitech’s positive news made up 7.97%, its neutral news accounted for a high majority i.e. 90.94% while the negative tonality news made up 1.09%.

Media Perception Positive

R 2.75 Cr

Unitech to raise up to Rs1,400 cr to speed up project execution

Neutral

R 0.47 Cr

Unitech case jolts builders, gives hope to home buyers

Negative

R -0.07 Cr

Developers in NCR default on Rs10,0OOcr

Radius Developers

Headquarter: Mumbai Projects: Radius Tech Park, Pune; The Capital (BKC), Trade Centre (BKC), Solitaire (Powai), Mumbai News Gist: Radius Developers’ overall news coverage made up only 0.84% of the industry’s total media coverage. Radius Developers’ positive news made up a measly 0.2% of industry coverage; neutral news constituted a slightly higher share of 0.64%; while it had no share of the negative news coverage in the given period. Also, from its own share of media coverage, Radius Developers’ positive news made up 23.61% while its neutral news accounted for the remaining 76.39%.

Media Perception Positive

R 1.03 Cr

Radius, Rohan Lifespaces in JV for SoBo Project

Neutral

R 0.77 Cr

Radius widens footprint Developers go back to the drawing board to deal with new realty law

Negative

N/A

About Radius Developers: Mumbai-based Radius Developers is a two-year-old Real Estate company established by Sanjay Chhabria. Radius Developers is in the process of developing 12.5 million sq. ft. of properties in Mumbai and its suburbs, across 15 projects. In 2015-16, the Company leased Rs. 1,200 crore of office assets, and also sold residential space worth Rs 1,800 crore. Radius Developers has proposed development of 20 million sq. ft. Radius Developer’s Core Values are "Passion, Integrity, and Commitment". Salient Features about the Company The Company is one of the youngest players to join the list of Most Reputed Real Estate Brands. Radius Developers has been in the news for getting into joint development (JD) projects with some stressed Real Estate companies based out of Mumbai. The Company aims to complete the projects by the end of 2018 and will earn a certain percentage of the revenue as fee. Radius Developers has also entered the joint venture (JV) route for expanding their business. On-going Projects Mumbai: One BKC, BKC; Project Kalina, Santacruz; Imperial Heights, 64 Greens, Project Avenue 54, Santacruz; 7 Hughes, Anantya, Chembur, TEN, BKC

43


BRAND REP RANK

36

Brand Rep Score

2,981

Kolte Patil Developers Headquarter: Pune Projects: City Bay (Boat Club Road), Shopper's Orbit (Vishrantwadi), Pune News Gist: Kolte Patil Developers’ overall news coverage made up 0.64% of the Real Estate industry’s total media coverage. Kolte Patil Developers’ positive news made up 0.18% of industry coverage; its neutral news constituted a slightly higher share of 0.45%. However, it had no share of the negative news coverage in the given period. Also, from its own share of media coverage, Kolte Patil Developers’ positive news made up 28.98% while its neutral news accounted for the remaining 71.02%.

Media Perception Positive

R 2.57 Cr

Metropolitan Invests Rs. 120 cr in Kolte-Patil Project Kolte Patil buys out 100% stake in Corolla Realty

Neutral

R 0.38 Cr

Kolte Patil CEO Sujay Kalele resigns In real distress, developers join forces to get projects off ground

Negative

N/A

About Kolte-Patil Developers Limited Founded two decades ago, Kolte-Patil Developers Ltd. is headquartered in Pune. The Company’s philosophy is Creation, Not Construction. Listed on NSE and BSE, Kolte-Patil is Pune's largest developer and has completed 1.3 crore sq. ft. of landmark developments in Pune and Bengaluru. It also has a presence in Mumbai, with some upscale redevelopment projects. Kolte-Patil has, till date, built projects in multiple segments such as residential, commercial, retail, IT parks. It focuses on delivering futuristic and self-sustained integrated townships. Kolte-Patil markets its projects under two brands: 'Kolte-Patil' (addressing the mid-income segment) and '24K' (addressing the premium luxury segment). The Company’s longterm bank debt and non-convertible debentures have been rated A+/Stable by CRISIL. The Gopal Sarda Company’s core values are honesty, innovation, Group President & CEO (Mumbai) excellence, eco-friendliness, technology, Kolte-Patil Developers Limited sustainability, value, and commitment to time schedules. We at Kolte Patil strive to deliver the best in all aspects of the business, be it creating Salient Features of the Company quality homes for people who will live in them, KPDL is dedicated towards creating spaces be it the value for the investors who will buy reflecting perfect harmony with nature, aesthetics, property from us, or be it our partners and standards, technology, sustainability, and value. stakeholders’ value. For over two decades, Serving customers with the YOU ON PRIORITY we have been delivering consistently on our approach is the foundation of the business promises and have gained the trust of our operations. KPLD’s motto is “Strengthening customers. This trust of our customers and bonds with associates and stakeholders with stakeholders has helped Kolte Patil Developers greater value sharing”. become a brand that we are proud of.

"

44

Ongoing Projects Pune: 24K World Residences 24K Atria, 24K Opula, 24K Glamore, 24K Sereno, Tuscan Estate, Life Republic, Ivy Estate, Western Avenue, Stargaze, Downtown, 3 Jewels, Cilantro, Florence, Green Olive, Rose Parade Mumbai: Jai Vijay, Link Palace Bangalore: Raaga, Mirabilis Goa: Mar-Esmeralda

Going forward, the markets are going to be challenging; for us to keep up with the pace and improve our Reputation, we have to focus on certain aspects. We believe that quality of construction, integrity of commitment, and safety of investments will be the key things that will help us sustain the customers and stakeholders’ Trust.

"


BRAND REP RANK

37

Brand Rep Score

2,590 BRAND REP RANK

38

Brand Rep Score

2,455 BRAND REP RANK

39

Brand Rep Score

1,853

L&T Realty Headquarter: Mumbai Projects: L&T Business Park - Powai, Seawoods Grand Central, Navi Mumbai News Gist: L&T Realty’s overall news coverage made up only 0.4% of the Real Estate industry’s total media coverage. L&T Realty’s positive news made up a measly 0.21% of industry coverage; neutral news constituted a slightly lower share of 0.19%; while it had no share of the negative news coverage in the given period. Also, from its own share of media coverage, L&T Realty’s positive news made up 52.73% while its neutral news accounted for the remaining 47.27%.

Media Perception Positive

R 4.18 Cr

L&T aims to double revenues by 2021 L&T Realty looks for partners in Bengaluru, Mumbai projects

Neutral

R 0.64 Cr

Blackstone Leads Race for L&T Realty's Retail Space

Negative

N/A

Parsvnath Developers Headquarter: NCR Projects: Parsvnath Greens (Derabassi); Parsvnath Narayan City, Jaipur; Parsvnath Panchvati Plaza, Agra News Gist: Parsvnath Developers’ overall news coverage made up 0.84% of the industry’s total media coverage. Parsvnath’s positive news made up a measly 0.2% of industry coverage; neutral news constituted a share of 0.47%; while its negative news made up only 0.18%. However, from its own share of media coverage, Parsvnath’s positive news made up 23.18%, its neutral news accounted for a majority i.e. 55.79% while the negative tonality news made up a substantial 21.03%.

Media Perception Positive

R 1.86 Cr

Parsvnath eyes stake sales to raise funds Parsvnath Repays Rs.60-cr Debt to Essel Finance, Others

Neutral

R 1.07 Cr

Parsvnath snaps Rs.1,651 cr pact with Indian Railways

Negative

R -0.43 Cr

Parsvnath posts Rs8 crore net loss

Panchshil Realty

Headquarter: Pune Projects: JW Marriott, nternational Convention Centre (ICC), The ICC Trade Tower, Satellite Towers (Koregaon Park), Pune News Gist: Panchshil’s overall news coverage made up only 0.69% of the Real Estate industry’s total media coverage. All of Panchshil’s media coverage was of a reference nature. No primary coverages were available for Panchshil. Of these reference articles, positive references made up 21.99% while its neutral references accounted for the remaining 78.01%.

Media Perception Positive

R 0.92 Cr

Trump to Grow India Business to Boost Realty Empire

Neutral

R 0.56 Cr

Commercial office market a bright spot for realty sector

Negative

N/A

45


BRAND REP RANK

40

Brand Rep Score

1,801 BRAND REP RANK

41

Brand Rep Score

1,314 BRAND REP RANK

42

Brand Rep Score

1,236 46

Ekta World Headquarter: Mumbai Projects: Ekta Angan (Borivali), Garnet (Borivali), Rockspring (Dahisar), Rock Garden (Dahisar), Mumbai News Gist: Ekta World’s overall news coverage made up a minor share of 0.22% of the Real Estate industry’s total media coverage. Ekta World’s positive news made up a measly 0.07% of industry coverage; neutral news constituted a share of 0.15%; while it had no share of the negative news coverage in the given period. Also, from its own share of media coverage, Ekta World’s positive news made up 31.15% while its neutral news accounted for the remaining 68.85%.

Media Perception Positive

R 2.82 Cr

Geopreneur launches Ekta apartments in Borivali east

Neutral

R 0.54 Cr

Real estate firms stare at dull Ql results

Negative

N/A

Kanakia Spaces

Headquarter: Mumbai Projects: 215 Atrium (Andheri), Sigma IT Park, Navi Mumbai, Samarpan Royale (Borivali), Mumbai News Gist: Kanakia Space’s overall news coverage made up only 0.17% of the Real Estate industry’s total media coverage. Its positive news made up a measly 0.14% of industry coverage; neutral news constituted a slightly higher share of 0.03%; while it had no share of the negative news coverage in the given period. Also, from its own share of media coverage, Kanakia Space’s positive news made up 81.25% while its neutral news accounted for the remaining 18.75%.

Media Perception Positive

R 3.65 Cr

Zidane to Endorse Kanakia's BKC Project Acquires Kanjurmarg Land for Rs.125 cr from Windsor Realty

Neutral

R 0.07 Cr

Art exhibition held at Kanakia Wall Street

Negative

N/A

Hubtown

Headquarter: Mumbai Projects: Ackruti Centre Point, Ackruti Gold, Ackruti Orion, Ackruti Businessport, Mumbai News Gist: Hubtown’s overall news coverage made up 0.58% of the Real Estate industry’s total media coverage. Hubtown’s positive news made up a measly 0.06% of industry coverage; neutral news constituted a share of 0.45%; while its negative news made up only 0.07%. However, from its own share of media coverage, Hubtown’s positive news made up 10.06%, its neutral news accounted for a high majority i.e. 77.99% while the negative tonality news made up 11.95%.

Media Perception Positive

R 0.12 Cr

Hubtown settles case with SEBI

Neutral

R 0.96 Cr

Pay Rs52 cr or face a(u)ction: Bank to ex-MCHI chief

Negative

R -0.73 Cr

Hubtown MD Remanded in Police Custody


BRAND REP RANK

43

Brand Rep Score

1,156 BRAND REP RANK

44

Brand Rep Score

1,062 BRAND REP RANK

45

Brand Rep Score

661

Ozone Group Headquarter: Bangalore Projects: Ozone Manay Tech Park, Residenza, The Metrozone, Evergreens, Bangalore News Gist: Ozone Group’s overall news coverage made up only 0.3% of the Real Estate industry’s total media coverage. Its positive news made up a measly 0.1% of industry coverage; neutral news constituted a slightly higher share of 0.2%; while it had no share of the negative news coverage in the given period. Also, from its own share of media coverage, Ozone’s positive news made up 34.15% while its neutral news accounted for the remaining 65.85%.

Media Perception Positive

R 1.48 Cr

Ozone Group to invest Rs350 cr in Bengaluru

Neutral

R 0.91 Cr

In Talks with Private Equity Funds to Raise Rs700 cr

Negative

N/A

Omaxe Headquarter: NCR Projects: Omaxe Arcade, Greater Noida; Omaxe Gurgaon Mall, Gurgaon; Omaxe Mall, Patiala; News Gist: Omaxe’s overall news coverage made up only 0.59% of the Real Estate industry’s total media coverage. Its positive news made up a measly 0.14% of industry coverage; neutral news constituted a slightly higher share of 0.45%; while it had no share of the negative news coverage in the given period. Also, from its own share of media coverage, Omaxe’s positive news made up 24.54% while its neutral news accounted for the remaining 75.46%.

Media Perception Positive

R 0.74 Cr

Omaxe sees 21% jump in profit Omaxe promoter forays into e-commerce business

Neutral

R 0.59 Cr

Omaxe closed 0.ll % higher at Rs 135.10 in August 2016

Negative

N/A

BPTP

Headquarter: NCR Projects: Freedom Parklife, The Resort, Park Grandeura, Princess Park, NCR News Gist: BPTP’s overall news coverage made up 0.63% of the Real Estate industry’s total media coverage. BPTP’s positive news made up a measly 0.04% of industry coverage; neutral news constituted a share of 0.59%; while its negative news made up only 0.003%. However, from its own share of media coverage, BPTP’s positive news made up 7.97%, its neutral news accounted for a high majority i.e. 90.94% while the negative tonality news made up 1.09%.

Media Perception Positive

R 0.1 Cr

BPTP sells Gurgaon IT park for Rs850 cr

Neutral

R 0.88 Cr

JPMorgan, Citi Property to Exit BPTP

Negative

R -0.004 Cr

NGT issues notice to BTPT etc. over groundwater extraction

47


BRAND REP RANK

46

Brand Rep Score

649 BRAND REP RANK

47

Brand Rep Score

573 BRAND REP RANK

48

Brand Rep Score

315 48

Akshaya Homes Headquarter: Chennai Projects: Akshaya Abov, Town Villa, Adora, Pacific City, The Belveder, Shanti, Metropolis & Domaine in Chennai News Gist: Akshaya Home’s overall news coverage made up only 0.11% of the Real Estate industry’s total media coverage. Its positive news made up a measly 0.08% of industry coverage; neutral news constituted a slightly higher share of 0.03%; while it had no share of the negative news coverage in the given period. Also, from its own share of media coverage, Akshaya Home’s positive news made up 73.33% while its neutral news accounted for the remaining 26.67%.

Media Perception Positive

R 2.13 Cr

"Right time to opt for housing loan" - T. Chitty Babu

Neutral

R 0.18 Cr

"Impact of floods on the Chennai's sector being felt gingerly" - T. Chitty Babu

Negative

N/A

Dosti Realty

Headquarter: Mumbai Projects: Dosti Acres (Wadala), Maitri Nirmal (Thane), Maitri Gardens (Thane), Dosti Pinnacle (Thane), Mumbai News Gist: Dosti Group’s overall news coverage made up only 0.06% of the Real Estate industry’s total media coverage. Its positive news made up a measly 0.03% of industry coverage; neutral news constituted an equal share of 0.03%; while it had no share of the negative news coverage in the given period. Also, from its own share of media coverage, Dosti’s positive news made up 43.75% while its neutral news accounted for the remaining 56.25%.

Media Perception Positive

R 3.11 Cr

Lifestyle-plus' homes transform Wadala skyline

Neutral

R 0.29 Cr

"Green Cover: High on Priority" - DEEPAK GORADIA

Negative

N/A

Bagmane Developers

Headquarter: Bangalore Projects: Bagmane Tech Park, Bagmane World Technology Sector, Bagmane Constellation Business Park News Gist: Bagmane's overall news coverage made up only 0.24% of the Real Estate industry’s total media coverage. All of Bagmane's media coverage was of a reference nature. No primary coverages were available for Bagmane's. Of these reference articles, positive references made up 0.02% while its neutral references accounted for the remaining 0.22%.

Media Perception Positive

R 0.16 Cr

Google signs deal with Bagmane Group for leasing office space

Neutral

R 0.24 Cr

Amazon took 1.3 million sq ft in Bagmane this year

Negative

N/A


REP-OPINION Sudhir Pai

CEO, Magicbricks.com

Abhay and Vandana Kumar are Singapore-based NRIs who have strong ties to their homeland. Today, they have a clutch of Real Estate investments that are in various stages of completion and yielding them good returns. They have had their share of troubles, but the Kumars believe the secret to their success was a formula consisting meticulous research to find the right mix of properties, an agent who would execute their deeds and conclude their deals, and the selling of Property at the right time for the best returns.

At one point of time, the Gomars relied on friends and family to give them advice. But today, they have a number of websites that not only give them listings but also allow them to study the market, use data to compute returns on investments, and even check out the antecedents of developers and developments. Their golden rule has been to back developers who have a track record of delivering good quality construction. As a result, some of the projects they invested in have been a bit delayed, but have given them good returns. As time goes by and online Property portals mature, the Gomars find that they are able to conduct their due diligence online. Now cut to Somnath Shivpal, a professor at a foreign university, who purchased a commercial Property from a developer in Delhi. Despite a default by the developer once, he was persuaded to put in more money to rectify the problem and was promised another unit, this time in Greater Noida. He is still struggling to recover any of his money or the Property. This displays the other side of the coin – Mr Shivpal did not use the services of any online portal and could not keep tabs on what was going on with his Real Estate investment in real time.

NRIs have been the backbone of the finance of the Indian Construction Industry for a long time. In the 1980s, they were associated with luxury homes and large commercial investments and were actively wooed by many developers, who built exclusive enclaves where they were offered premium lifestyles. However, when the Indian Rupee plummeted in value against the Dollar a few years ago, a large number of NRIs transferred money to their Indian accounts to get the benefit of the rate differential but did not invest it in Property.

With major defaults on the timelines of many Indian Real Estate developers, the Industry risks killing the goose that has been laying the golden eggs. The recent Real Estate Regulatory Act (RERA), with its assurance of timely completions, will hopefully ensure that a large part of the NRI capital will now be invested in completed projects. In fact, informed Industry insiders have revealed that over the past two quarters, completed Properties have posted a 9% rise in value and demand over under-construction Properties. Clearly, the risk of delayed completion is not one that Indian or NRI consumers want to take. Also, global recessionary trends have ensured that the budgets have been scaled down and NRIs have become more realistic. There is significant investment along IT and economic corridors. Today, homes are not merely locked up after being bought but are leased out to earn rental income while the owners hold the investment to reach optimum value to then encash it.

Today, Property portals have eased access to homes and investments. Very soon, all approvals will also be posted online for buyers to make informed decisions. Prime Minister Modi’s global visits exhorting the world to invest in India too has had its effect on NRI investors. The challenge is for the Indian Real Estate Industry to pull up its socks and start delivering quality products on time.


BRAND REP RANK

49

Brand Rep Score

206 BRAND REP RANK

50

Brand Rep Score

139 BRAND REP RANK

51

Brand Rep Score

92 50

Runwal Group Headquarter: Mumbai Projects: Runwal Pride (Mulund), Runwal Grand (Chembur), Runwal Estate (Thane), Mumbai News Gist: Runwal Group’s overall news coverage made up only 0.24% of the Real Estate industry’s total media coverage. Its positive news made up a measly 0.02% of industry coverage; neutral news constituted an equal share of 0.22%; while it had no share of the negative news coverage in the given period. Also, from its own share of media coverage, Runwal Group’s positive news made up 9.09% while its neutral news accounted for the remaining 90.91%.

Media Perception Positive

R 0.08 Cr

Runwal Group buys 13-acre Kanjurmarg plot for Rs.496 crore

Neutral

R 0.37 Cr

"Developers are now reducing the sizes of the apartments to make them more affordable," Sandeep Runwal

Negative

N/A

Bestech Group

Headquarter: NCR Projects: Park View Altura, Park View Spa, Park View Residences, Park View City, Gurgaon; Bestech City, Bestech City Centre, Dharuhera News Gist: Bestech Group’s overall news coverage made up only 0.09% of the Real Estate industry’s total media coverage. All of Bestech Group’s media coverage was of a reference or secondary nature. No primary coverages were available for Bestech Group. Of these reference articles, all were of a neutral tonality.

Media Perception Positive

N/A

Neutral

R 0.31 Cr

"New Gurgaon has gained pole position in Haryana over the last two decades," Dharmendra Bhandari

Negative

N/A

Piramal Realty Headquarter: Mumbai Projects: Piramal Aranya, Agastya Corporate Park, Vaikunth Pavillion, Mumbai News Gist: Piramal’s overall news coverage made up only 0.11% of the Real Estate industry’s total media coverage. All of Piramal’s media coverage was of a reference nature. No primary coverages were available for Piramal’s. Of these reference articles, positive references made up 13.79% while its neutral references accounted for the remaining 86.21%.

Media Perception Positive

R 0.07 Cr

Lodha, Piramal to Set Up ARCs, Looking to Partner Foreign Funds

Neutral

R 0.19 Cr

Good response for Piramal Realty project

Negative

N/A


BRAND REP RANK

52

Brand Rep Score

55 BRAND REP RANK

53

Brand Rep Score

Sheth Developers Headquarter: Mumbai Projects: Viviana Mall (Thane), Cynergy (Prabhadevi), Beaumonde (Prabhadevi), Avalon (Thane), Mumbai News Gist: Sheth Developers’ overall news coverage made up only 0.15% of the Real Estate industry’s total media coverage. All of Sheth Developers’ media coverage was of a reference nature. No primary coverages were available for Sheth Developers. Of these reference articles, positive references made up 0.03% while its neutral references accounted for the remaining 0.13%.

Media Perception Positive

Singapore-based GIC investing $149 million in Sheth Developers' Viviana mall at Thane

Neutral

54

Brand Rep Score

20

R 0.07 Cr

Retail Real Estate Back in Favour with PE Investors

Negative

N/A

3C Company Headquarter: NCR Projects: Green Boulevard, Oxygen Boulevard (SEZ), Tech Boulevard, Wipro Campus, Patni Knowledge Centre, Wipro Technologies, NCR News Gist: 3C Company’s overall news coverage made up only 0.15% of the Real Estate industry’s total media coverage. All of 3C Company’s media coverage was of a reference nature, and 100% of it was neutral in tonality.

Media Perception Positive

N/A

Neutral

R 0.17 Cr

Piramal Fund Management and Axis Bank have co-funded Rs55O crore in a mixed-use property project of The 3C Company in Noida

Negative

51 BRAND REP RANK

R 0.13 Cr

N/A

Nitesh Estates Headquarter: Bangalore Projects: Nitesh Hub, Pune; Nitesh Mall, Nitesh Park Avenue, Nitesh Napa Valley, Bangalore News Gist: Nitesh Estates’ overall news coverage made up only 0.13% of the Real Estate industry’s total media coverage. Its positive news made up a measly 0.003% of industry coverage; neutral news constituted an equal share of 0.13%; while it had no share of the negative news coverage in the given period. Also, from its own share of media coverage, Nitesh Estates’ positive news made up 2.7% while its neutral news accounted for the remaining 97.3%.

Media Perception Positive

R 0.02 Cr

Nitesh Estates has Palo Alto, Cape Cod and even a Camp David, named after the eponymous country retreat of the US president

Neutral

R 0.08 Cr

Goldman Sachs funded Nitesh Estate's buy­out of Elbit Imaging's mall in Pune

Negative

N/A

51


BRAND REP RANK

55

Brand Rep Score

18 BRAND REP RANK

56

Brand Rep Score

Ajmera Realty & Infra Headquarter: Mumbai Projects: Imax Adlabs (Wadala), Vijay Nagar (Mulund), Mumbai; Yogi Park (Koregaon Park) News Gist: Ajmeras’ overall news coverage made up only 0.13% of the Real Estate industry’s total media coverage. Its positive news made up a measly 0.03% of industry coverage; neutral news constituted an equal share of 0.1%; while it had no share of the negative news coverage in the given period. Also, from its own share of media coverage, Ajmeras’ positive news made up 81.82% while its neutral news accounted for the remaining 18.18%.

Media Perception Positive

"ST & VAT needs to be looked into, as the developer has to charge ST to the consumer which we feel isn't fair," Dhaval Ajmera

Neutral

57

Brand Rep Score

Negative

52

N/A

Bombay Realty

Headquarter: Mumbai Projects: Springs (Dadar), Axis Bank HQ (Worli), Mumbai News Gist: Bombay Realty’s overall news coverage made up only 0.02% of the Real Estate industry’s total media coverage. All of Bombay Realty’s media coverage was of a reference nature, and 100% of it was neutral in tonality.

Media Perception Positive

N/A

Neutral

R 0.11 Cr

Springs Tower Flat Owners vs Bombay Realty: Court Seeks CCTV Footage

Negative

N/A

BrahmaCorp Headquarter: Pune Projects: Le Meridien, Residency Club, PuneOne, Waterbay, Pune News Gist: BrahmaCorp’s overall news coverage made up only 0.004% of the Real Estate industry’s total media coverage. All of BrahmaCorp’s media coverage was of a reference nature, and 100% of it was neutral in tonality.

Media Perception Positive

N/A

Neutral

R 0.1 Cr

Four Lane Road connecting F- Residences to the heart of Kalyani Nagar becomes a reality!

Negative

1

R 0.005 Cr

Ajmera Realty plans to develop 10,000 affordable homes in the next 10 yrs in the Mumbai Metropolitan Region (MMR)

8 BRAND REP RANK

R 0.27 Cr

N/A



05 Most Reputed Brands – Compiled Listings 54-58


Most Reputed Brands – Compiled Listings Please note that the Perception Score, a key component of the Brand Rep Score, is a measure of Relative Tonality which is calculated separately for each city, and the overall Real Estate industry.

Overall Industry Reputation BRAND REP SCORE

RANK

BRAND

01

DLF

02

Godrej Properties

03

BRAND REP SCORE

HEADQUARTER

25,398,838

NCR

1,161,957

Mumbai

Lodha Group

407,548

Mumbai

04

Hiranandani Developers

351,391

Mumbai

05

Tata Housing Development Co.

286,552

Mumbai

06

Prestige Estates

167,911

Bangalore

07

K Raheja Corp

159,136

Mumbai

08

Shapoorji Pallonji

151,785

Mumbai

09

Oberoi Realty

135,461

Mumbai

10

Indiabulls Real Estate

126,657

Mumbai

11

Mahindra Lifespaces

66,200

Mumbai

12

Embassy Group

45,017

Bangalore

13

Jaypee Group (JayPee Greens)

42,900

NCR

14

HDIL

39,248

Mumbai

15

Brigade Group

34,928

Bangalore

16

RMZ Corp

32,725

Bangalore

17

Supertech

32,602

NCR

18

HCC Real Estate

29,349

Mumbai

19

Sobha Developer

26,562

Bangalore

20

Ashoka Developers & Builders

24,998

Hyderabad

21

DB Realty

24,266

Mumbai

22

Rustomjee

13,220

Mumbai

23

Sunteck Realty

10,463

Mumbai

24

Wadhwa Group

9,813

Mumbai

25

Nahar Group

9,093

Mumbai

26

Amrapali Group

8,934

NCR

27

Ashiana Housing

7,468

NCR

28

Puravankara Developers

6,977

Bangalore

29

Mantri Developers

6,737

Bangalore

30

Emaar Group

4,863

NCR

31

Kalpataru Group

3,886

Mumbai

32

Gaursons India Limited

3,649

NCR

33

Ansal Housing

3,564

NCR

34

Unitech Limited

3,408

NCR

55


RANK

BRAND

BRAND REP SCORE

HEADQUARTER

35

Radius Developers

2,984

Mumbai

36

Kolte Patil Developers Ltd

2,981

Pune

37

L&T Realty

2,590

Mumbai

38

Parsvnath Developers

2,455

NCR

39

Panchshil Realty

1,853

Pune

40

Ekta World

1,801

Mumbai

41

Kanakia Spaces

1,314

Mumbai

42

Hubtown

1,236

Mumbai

43

Ozone Group

1,156

Bangalore

44

Omaxe

1,062

NCR

45

BPTP Limited

661

NCR

46

Akshaya Homes

649

Chennai

47

Dosti Realty

573

Mumbai

48

Bagmane Developers

315

Bangalore

49

Runwal Group

206

Mumbai

50

Bestech Group

139

NCR

51

Piramal Realty

92

Mumbai

52

Sheth Developers

55

Mumbai

53

3C Company

51

NCR

54

Nitesh Estates

20

Bangalore

55

Ajmera Realty & Infra Ltd

18

Mumbai

56

Bombay Realty

8

Mumbai

57

BrahmaCorp

1

Pune

Industry Reputation - Mumbai BRAND REP SCORE RANK

56

BRAND

BRAND REP SCORE

01

Godrej Properties

02

Lodha Group

837,398

03

Hiranandani Developers

722,011

04

Tata Housing Development Co.

588,786

05

K Raheja Corp

326,981

06

Shapoorji Pallonji

311,877

07

Oberoi Realty

278,334

08

Indiabulls Real Estate

260,245

09

Mahindra Lifespaces

136,022

10

HDIL

2,387,498

80,644


RANK

BRAND

BRAND REP SCORE

11

HCC Real Estate

60,304

12

DB Realty

49,860

13

Rustomjee

27,163

14

Sunteck Realty

21,499

15

Wadhwa Group

20,164

16

Nahar Group

18,684

17

Kalpataru Group

7,985

18

Radius Developers

6,130

19

L&T Realty

5,323

20

Ekta World

3,700

21

Kanakia Spaces

2,699

22

Hubtown

2,539

23

Dosti Realty

1,178

24

Runwal Group

423

25

Piramal Realty

188

26

Sheth Developers

114

27

Ajmera Realty & Infra Ltd

36

28

Bombay Realty

17

Industry Reputation - Delhi BRAND REP SCORE RANK

BRAND

BRAND REP SCORE

01

DLF

02

Jaypee Group (JayPee Greens)

136,800

03

Supertech

103,964

04

Amrapali Group

28,488

05

Ashiana Housing

23,813

06

Emaar Group

15,507

07

Gaursons India Limited

11,638

08

Ansal Housing

11,364

09

Unitech Limited

10,869

10

Parsvnath Developers

7,828

11

Omaxe

3,386

12

BPTP Limited

2,107

13

Bestech Group

445

14

3C Company

161

80,993,189

57


Industry Reputation - Bangalore BRAND REP SCORE RANK

BRAND

BRAND REP SCORE

01

Prestige Estates

1,040,625

02

Embassy Group

278,993

03

Brigade Group

216,468

04

RMZ Corp

202,811

05

Sobha Developer

164,620

06

Puravankara Developers

43,242

07

Mantri Developers

41,752

08

Ozone Group

7,162

09

Bagmane Developers

1,949

10

Nitesh Estates

127

Industry Reputation - Pune BRAND REP SCORE RANK

BRAND

BRAND REP SCORE

01

Kolte Patil Developers Ltd

222,917

02

Panchshil Realty

138,619

03

BrahmaCorp

62

Industry Reputation - Chennai BRAND REP SCORE RANK

01

BRAND

BRAND REP SCORE

Akshaya Homes

484,275

Industry Reputation - Hydedrabad BRAND REP SCORE RANK 58

01

BRAND

Ashoka Developers & Builders

BRAND REP SCORE

1,045,624


NOTES




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