Raheja tops the world WINNERS
64 | OPP AWARDS FOR EXCELLENCE 2011 WORDS | Geoff Hadwick
Who is Raheja?
Raheja Developers was founded in 1990 and quickly became one of NCR’s (India’s National Capital Region) most prominent real estate developers under the leadership of its founder, entrepreneur Navin M. Raheja. Early developments focused on residential complexes but, over the years,
Raheja has diversified into every part of the Indian property industry, working on commercial, retail, hospitality, townships, SEZ and slum rehabilitation projects. It continues to have a strong residential arm. Today, the business is working on a raft of high-end residential,
commercial and SEZ projects worth INR40 billion and it has tied up future projects worth INR100 billion. According to the audited financial results for the financial year which
ended on March 31, 2010, the group had an income Rupee389.50 crores (US$ 86.55 millions), with profits before tax of Rupees55.13 crores (US$ 12.25 millions.) Revenues the following year, 2010/2011 were approximately Rupees 437 crores ( US$ 97 million). The group employs 350 people including 75 MBAs working on more than
50 million sq.ft. of ongoing and planned development. Raheja’s turnover continues to growth at a rate of 200% year-on-year.
Winners all | With Navim M. Raheja, of Rahela Developers, taking centre stage BEST DEVELOPER WORLDWIDE Gold: Raheja Developers Ltd
What did Raheja tell the judges? In order to prove its commitment to “integrity, innovation and the timely delivery of high-quality projects,” Raheja believes that it is “important today” to carry out a regular customer satisfaction index. “Setting a benchmark” is the name of the game says Raheja Developers, and its surveys have helped the company “carve a niche for itself as being professionally managed and result oriented.” When the giant Indian TATA group was “looking for a reliable and experienced partner in northern India, it preferred to join hands with Raheja. A joint development agreement has been signed to build one of the most upmarket residential projects in Gurgaon on Golf Course Road, entitled Raisina Residency.” TATA has been so pleased with the project that it has allowed the scheme
to promote itself with joint branding. And, to stay in the pubic eye, Raheja tries to regularly “implement new and innovative processes to keep everyone updated with channels on Facebook, YouTube and on the web” where the company hosts “construction update videos, virtual tours, new product offerings and news feeds which are updated daily.” Today, it has more than 18,000
members in its “Raheja online community … the largest number for any online real estate community in India.” Integrating everything online is a key part of the wider Raheja strategy. “Unlike a handful of real estate companies in the industry that use Enterprise Resource Planning, SAP and Oracle based on marketing modules, Raheja Developers has all its departments integrated under one ERP control system developed in-house for operational accuracy and effi ciency at all levels,” the company told the OPP judges.
“The Raheja ERP manages
the company’s CRM, marketing, project quality control, cost control, human resource, accounts, purchase, inventory, statutory compliances, online monitoring systems, brokerage calculation, customer service, individual performance evaluation .. and much more. This makes Raheja Developers the only real estate company in India that operates in tandem with the latest operational technologies for simplifi ed business processes and accountability at all levels.”
The system allows Raheja to be transparent and up-to-date too. “For customers investing their lifetime saving on a property, it is not too much to expect regular updates on the stages of project development, account and ancillary queries’” the company says. “But often, inaccessibility to correct and timely communication leads to distrust amongst buyers. To address such concerns, Raheja Developers offers unique IDs and passwords to its customers, allowing them to log into its
website and access all the latest account statements. Customers can also log on to see progress of the ongoing work that they have invested in and scan the project virtual from any corner of the world.” In terms of paying its way, Raheja
has decided as a matter of policy to shun “linked payment plans” and it “continues to offer construction- linked payment plans to its customers.” Why? “A time-linked payment plan may ensure profi tability to the developer, but it turns risky when the money gets diverted,” says Raheja, adding that its policy has helped to maintain its reputation. “At a time when real estate sector has been hit by global recession,” it told the judges, “we have successfully kept the company debt free, meaning thereby that there is no cost of money to the projects. It has always been our focus to pass on the value advantage to our end-users directly, instead of demanding a higher price, or holding
www.opp.org.uk | JANUARY 2012
Every month OPP profi les the winners of the latest OPP Awards for Excellence and gives you the real reasons why the best in the business scooped up the prizes and impressed our judging panel of more than 40 industry leaders from all around the world. This month we are looking at the winners of the Best Developer Worldwide category, and summarise some of the key points in their submissions. Raheja came away wih gold.
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