Amit Raj Jain - Vice President, BPTP

One thing I like to tell everybody, people keep waiting to market to fall to buy, my message to them, - do not wait, if you are a user, buy something whenever you feel comfortable, because nobody has been able to ever catch the lowest end of the market. Because whenever the market is segregated, what amount you want to save it, will be saved when the market ups. If market comes down, it will affect you. When market ups it will affect you also. So whenever you are getting the product of your choice, your destination, do not wait. Buy.  Do not wait for the fall of market. Because lots of people keep thinking, keep thinking but never buy. So end of a day, end of an user.

About your career, your education, and your professional experiences.
I am a BE Civil from Pune University and a MBA in Marketing from Pune University. After completing MBA in 1995, I worked with ANSALS for more than five years. Following which I joined the MAHINDRA group and UNITECH before Heading the Marketing Division of BPTP LTD. I have been here close to six years.

How did you come to choose real estate as your career?
I started my career as a management trainee in real estate and last 14 years I only worked within the real estate sector. I have only experience of real estate, I know nothing else. The current real estate market conditions throw in certain conditional parameters for the market analysts, especially after the formation of the new government.

Can you enumerate and list the market dynamics?
The market is stable and good. It is not booming but it is stable. The current government is a stable government. Thoough the election time there was not much of buying but people are coming up now and fresh sales has shown the trust imposed on the government.

Any special parameters on which you are say that the market is stable?
Users are there now. People who want to buy. They are not buying because anybody was not buying. Now everybody is buying, people who want to buy, are still buying. And the hardcore investors and short term investors who used to buy in January and expected a premium in March, are not there. But the people who are buying for long term are still there. Sustained buying is evolving.

What kind of dynamics you are looking after the formation of new government?
The new government formation is a stable government at the center. The role of regional parties has minimized, for any good growth a stable government is very necessary at the center. A stable government will give stability in the economic market as well. The economic market has a direct relation with the law and order situation in country.
 
 Which class people do you target?
For the business we target everybody. I mean who can buy a house of worth Rs. 20 lakh to house worth Rs. 2 crore or even more. The target segment is quite broad, from middle class to the rich. You name it. We have it for you. Any specific contribution, which you think that your company has done. We provided people a very good and reasonable housing and plots. We built Faridabad as a destination and today Faridabad is on the map of India and real estate scenario.That is only because of us. Faridabad was linked to Delhi from last 50 years. But it was not marketed properly by any company. Gurgaon was marketed by 2- 3 companies. Noida was marketed by media as a potential market for real estate. Ghaziabad was itself developed, but nobody talked about Faridabad. We put Faridabad in the fore front of real estate market of country. Today Faridabad is a very good place of growth.   

Why do you think that Faridabad is very good for real estate market?
There has been a lot of arbitrary vibrations in Faridabad, felt from the nearby areas. like the land pricing of neighboring areas like GK-II, Maharani Bagh, New Friends Colony, Jasola, Sukhdev vihar. All these places rates have increased from Rs. 3 lakhs per sq. yard to where it is today. Whereas in Faridabad, in our colonies the rates are Rs.15000 to Rs. 12000 sq. yard. There are arbitrals of 20-25 times. If it's arbitrals will lot remain, one day the rates of Faridabad will be almost half of rates of these areas. From Rs. 3 lakhs the rates reached to Rs. 5 lakhs per sq. yard. Faridabad is also Rs 2.5 lakhs now.  There is lots of opportunity in Faridabad. It is very good place with a population of 2 million people.

What has been your focus and vision in providing for the market demands?
Our focus is to provide well located properties and our focus is on best deliveries. We are delivery focused company.  Delivery focus means what we can bring. There are lots of people who are selling which are already in market. But from past long years, we are building it and then we are selling it. We have delivered three and a half thousand plots in three to six months. And we could deliver 1000 of apartments in next 2-3 months.

At what position do you rate your company vis-à-vis the global market and the Indian market in particular?
We do not believe in the number game. But we believe in a particular area that we are the best in terms of that we have developed an area called Faridabad. We are developing in liaising, we are making roads, we make parks, and we have made a bridge also. We are spending in government schemes also. We are a company which is socially responsible. We feel that we are amongst the top developers in this country.

How do you rate your company’s contribution in comparison of other developers, companies?
Developing area is a biggest thing in comparison to developing a particular place. Faridabad was not there anywhere. Today we talk about Faridabad as a preferred destination which we created. Now we are creating a commercial city in Noida in sector 22 as a commercial sector.

 Are you geared for the changing dynamics of the market, especially keeping in mind the commonwealth games?
Commonwealth Games is a fifteen days affair and is not going to change the country. Still there are lots of infrastructural related changes. Government is talking for fifteen days which government merges. And we are thankful to the government. If they are taking things, it will change and it will help everybody. Because once something is built, it definitely will not be broken. I do not think so that it will effect the real estate market. General market is being affected by this fifteen days affair, but not the real estate market. Because it is a long term commitment market. The gather will be everywhere. It is not a loss because of commonwealth games.  The infrastructure created for Commonwealth Games will be on sale. But nothing else will happen. This coming and going of fifteen days will help anybody, I doubt.

In a grossly unorganized real-estate market like India, have you been instrumental in bringing about any change?
Not only we but everybody is doing it. As government has gotten in and our foreign investor has brought transparency in the system. Most of this market is unorganized and it has turned off listed completely transparent. In a company like ours also whatever listed, lots of transparency is there, and lots of funds coming to India. I think market is change for better.

 How do you figure the high customer satisfaction ratio?
We keep doing market surveys like to access what customer wants today. All our products are made for consumers. Yes we do a customer survey. You cannot change in your current projects, but in future projects we take care of what customer say in a particular project. So we get the feedback in one project and rectify the problem in next project. So learning is change and costing is change as per the market demands. So keep learning, keep changing, that is the life.

Future plans of BPTP?
We are doing project, we call “Path” and we are getting very good response. We would like to do such projects, higher projects. We will have to do middle and lower projects also. So we give projects to every spectrum of market.

Amit Raj Jain is VP, BPTP