We plan to expand in Telangana foray into AP

Shanta Sriram Constructions is one of the leading realty establishments in Hyderabad. It has weathered many a storm from global meltdown to artificial ramp up in property prices and speculative campaigns about the sector in general. This was in addition to the separate statehood uncertainty between 2009-14, which virtually halted progress in the real estate market.

Excerpts from the interaction with M Narsaiah, CMD, on the occasion of his company’s 20th anniversary celebrations recently:

On the path traversed: For me, even now it is unbelievable to think that it has been two decades since we began. It just passed by like it was merely 20 days. I still remember the first project we took up – Prashanti Heights in Mehdipatnam where the complex had just 8 flats.

At that time in 1995 we sold flats at the rate of Rs.425/sq.ft. Today we have properties which command a price of even Rs.10000/sq.ft. This is the measurable progress that we have managed. For us, even today, every venture is like a baby.

On projects successfully completed and the ventures in the pipeline: In the last twenty years, we have completed 80 residential and commercial projects with a built up area of nearly 80 lakh sq.ft. We have constructed 5000 happy homes where our customers are living happily. In the recent past, I can say, 2014 was a challenging year for the real estate sector in general. Still, we managed to complete five projects in time.

Over the next 24 months, we propose to invest Rs.600 crore on eight projects – residential, mixed use, multiplex-cum-malls etc. Hyderabad city has been recently rated as an attractive destination for investment in property and surely it is scoring on two points: affordability and space.

Our current projects are in the Rs.30 lakh – Rs. one crore range situated all around the twin cities from its outskirts to upmarket locations like Banjara Hills and Lanco Hills. As far as our commercial ventures go, we have the big names like PVR, Marks and Spencer etc. already agreeing to lease space which will add value and variety to the shopping experience of the citizens of Hyderabad.

On the customer support his projects have enjoyed: Like anyone who wants to do well and succeed in this competitive world, we also value our customers very highly. Our endeavour has been to ensure maximum appreciation for the investments made by our customers, who I am sure, are highly satisfied with their decisions to invest in our ventures.

We are known to provide service at the doorstep and collect money from our customers as per progress of work. For even those who went back on their decision to invest in our properties, they have not been let down. There are occasions when we have refunded the amounts paid by them with bank interest. It will be appropriate to add here that today many projects are finding repeat customers and those whom they refer.

On the future plans of Shanta Sriram

Constructions: All these years, we have been Hyderabad-centric. We completed one residential project in Bengaluru and are planning to take up one more in the near future. Also, we are exploring options of setting our feet in the new capital of Andhra Pradesh, about which it is too early to say as yet. In the Telangana region, we are also scouting in the Tier-II cities and we will announce ventures soon.

With the new government in a new state, we are highly optimistic of the days ahead. The TRS government has already made a lot of efforts to encourage investments in real estate and Bangaru Telangana will definitely be a reality. On our part, we have actively associated with Mission Kakatiya project of the government and would like to work with them in future too.

By K Naresh Kumar