In Real Estate sector, Future belongs to trustworthy brands like Mahindra Lifespace: Sangeeta Prasad, MD & CEO

The market is rebooting/resetting itself at present and is sending a message that irresponsible ways of working will not be accepted any more, says Sangeeta Prasad, MD & CEO, Mahindra Lifespace Developers Ltd. In a candid chat with Swati Khandelwal, Zee Business, Sangeeta Prasad, said, "Mid-premium and affordable segments will bring good results as people are willing to buy from trustworthy brands like us". Edited Excerpts:

Q: Which form of Goddess Durga inspires you the most?
A: Actually, Maa Durga is also known as Navadurga, nine epithets are stretched in every direction. I believe that every form has time and that's why talking about anyone form will be an injustice. However, while studying Kabir's couplet this morning I was thinking about Maa Durga's peaceful form but sometimes it is necessary to promote another form as well.

Q: Talk about the attributes that women have that differentiates them and make strong, which can be harnessed to emerge as a better leader?
A: First of all, I feel, may it be a woman or a man, who is a leader then the person should be aware of what is around him/her, environment - not only about the economic environment but also about how people are reacting on it. Realizing the same is very important because, at times, we follow our paths blindly without thinking about what is happening around us and continue to move forward. We may fall with such a blind movement. This is why, I think that a leader, particularly, a woman leader brings that understanding of the atmospherics, i.e. how are the surroundings and how to respond to it instead of walking blindly. I think it is a must that a leader should have. 

Q: Do you think that the downturn visible in the real estate sector including your company will improve a bit this festive season? How hopeful you are with the steps that the government has taken to give a boost particularly the real estate sector?
A: I am very confident about what the government is doing and what is happening in the market. Things are rebooting/resetting itself and sending a message to those who were working irresponsibly that it will not work anymore. I believe the upcoming time will belong to trustworthy brands like us. It is a time when we should move ahead with our trust and brand capital and think about the customers. The customer should be kept at the top and we should think about their needs because the real estate developers have thought very less about the customers for several years and decades. Now, it is a time when we should think of that aspect as well and this is the most important element. And, the sentiments seem to be a good one during the festival season and we are scheduled to come up with new launches in the period. I feel a lot of good things are going to be good.

Q: Real estate sector comprises commercial, residential and affordable housing segments. Name the segment that will be the focus area for Mahindra Lifespaces and also the segment that will have a maximum contribution in terms of returns? 
A: We are focusing on both mid-premium and affordable segments. And, we are expecting that our new launches in both segments will bring good results to us. Even, the customers are willing to buy from trustworthy brands like us and this is something that is adding on to our expectations. We are hoping and looking forward to a bright future for both, ourselves and the customers. Besides, leads are generating for our industrial real estate, Mahindra World City, Jaipur and Chennai, and other industrial clusters and expect a bright future on this front as well. As I have told you that the customers are looking forward to brands.

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Q: How much growth is expected in this fiscal (FY20) in percentage terms when compared to last year? Also, update us about the new projects that will be launched? 
A: We will be launching two mid-premium and one affordable projects in Mumbai and we are also planning a project on Pune as well, which will be launched in this fiscal. We are waiting for approvals of four projects in the residential domain. When it comes to industrial, then we will like to launch in Ahmadabad and we are waiting for certain approvals in this case as well. The industrial cluster of Chennai is quite strong and Japanese customers have reached there and the project's lead pipeline is very strong. Same goes with the Mahindra World City Jaipur. Thus, we are expecting growth with these projects.