Developing with market and customer-centric approach!

Share with us the profile of Sumer Group and the way you are representing it today as a third-generation key industry player?

We are the third generation into the real estate business and have been in the industry since 1965. We are doing development in Bombay, Alibaug, Pavana and Goa and have land banks in Pune and Bangalore too. From my end, I have tried to transform the family own business into a professionally run business. I have managed to do it as successfully as possible and retained the quality professionals, say those who are working with us for 40 years. However, I have to manage the role of changing the mind-sets and imbibe the new trends, and hopefully, I’ll be able to make few new dimensions of success with our group. I believe that humans take time to adapt to new changes. Technology is also revolutionizing our lives and its changing vastly over the years. So I’m quite positive that the new adaptions for bringing constructive new trends will make us make many new marks of success in the coming times.

Tell us the core business strategy or idea that Sumer Group is following by keeping in mind and considering the current market conditions, especially for the future growth?

Considering the current market conditions, we are trying to focus more on our current projects. We are developing four properties in Bombay and working on getting approval on the few more on-going projects. So we are focusing on executing projects where we feel that they are going to sell fast and the tickets size is going to be in a very low number. For example, if we are trying to launch something in Chandivali, we will be planning to make two bedrooms at the cost of 99 Lakhs only. So we are trying to focus on what are the market demands today and not just only what we come out with. For example, the luxury segment has taken a hit nowadays as today people are looking for more options. So, say, selling an apartment of over 10 crores is much more challenging than selling the one under the budget of 5 crores. The customers want to see that when the project is completing and when the site will be fully developed.

This current trend, though, is helping us in a way that, more projects are getting completed and the market has taken a lead for those who perform. It means whoever is going to perform will get the benefit than the one who delays in delivering and working as per the present industry conditions. Also, RERA is now focused on keeping and sustaining those who are performing. So the newcomers or the ones who are not going to perform will see the impact of the market trends and processes. So all those who don’t want to be a player or not with a good performing team will be wiped out of the market in the future. Eventually, I think down the line, we will see a very limited number of players in Bombay. There will be more area specific and area-centric players. So the players who are experts in a particular zone will be leading and play better in the coming times. Therefore, if we see in an overall and nutshell manner, today’s is a consumer market! So whoever is going to develop a customer-centric approach will be retaining its position and growth in the market. We are following a simple vanilla scheme by trying to make a straight construction link plan at a good market rate for the customers. We are planning to finish and provide the project on time and making it affordable and equipped with all the required facilities and amenities.

Share with us your views on your famous Alibaug project and describe its main features? 

Our famous project at Alibaug is called ‘8 Nautical Miles’, located at merely 8 miles away from Bombay. A short boat ride across the Arabian Sea will connect to a series of sprawling homes built here equipped with the finest amenities. We have made twelve villas, the sprawling bungalow-apartments dotted around a lush landscape. The main feature of Alibaug is that it is non-polluted. The pollution level here in comparison to Bombay is much less. With the RERA and RORO coming up by the government, one could live in Alibaug and work in Mumbai quite easily for experiencing an oceanful joy of living! The cost of living and pricing is very economical in Alibaug making it a good choice for dreaming to reside and locate.

What are your business plans, along with the government policies in mind, that you keep you competitive in the coming times, say 5 years?

The government has done a lot of modifications in its policies. Now the government is carrying out all the processes online, for a faster execution of approving files. There is also a circular that is started now and called-‘Ease of doing business’. Under this circular, the government has directed that a file could not stay on a table for more than seven days. By it, the goal to systemize the whole system is set now. RERA has also brought up regulations to make the projects get completed on time. So we are forming our strategies and plans by keeping a clear picture of the market trends and government plans in order to stay competitive, assuming the changes coming now would remain stable for at least the next 5-7 years. We think that now the on-time performance and delivery matters a lot. So this kind of on-time execution of projects and meeting business targets and reaching success is only possible with the support of a good team. Hence, we are looking forward to remaining competitive and retaining our key market position with our team and make new growth marks in the future.