Commercial Real Estate sector is one of the leading contributors towards India’s economic growth in past few years. Major cities like Mumbai, Bengaluru, Gurgaon and Delhi have seen the highest growth of commercial properties. India has produced a line of successful commercial real estate entrepreneurs and holds a long tradition of entrepreneurship and wealth.
Here is the list of few most powerful commercial real estate personalities of India who have left their footprints across the globe.
KUSHAL PAL SINGH
Kushal Pal Singh, Chairman of DLF Ltd, India’s largest real estate company with its footprints in over 24 cities across 15 Indian states, is a popular face across the globe. He is well known for his visionary contributions to building modern India with his pioneering role as real estate developer and corporate leader by setting new standards in real estate development and creating world-class infrastructure. Dr. K.P.Singh completed his Aeronautical Engineering in UK after completing his Bachelors in Science from Meerut College, Uttar Pradesh and was subsequently selected for India Army by British Officers Services Selection Board, UK and then commissioned into renowned cavalry regiment of Indian Army. In 1960, he became a part of American Universal Electric Company and with its merger with DLF Ltd in 1970, took over as its Managing Director.
Under his chairmanship, the company made its initial public offering in 2007 and made about USD 2.24 billion, one of the largest IPOs in India. Kushal Pal Singh featured in Forbes list of richest billionaires in 2009 at 98th position and world’s richest property developer. Also, as per 50 Richest in Asia in Forbes 2017, Singh’s personal wealth was estimated at $6.1 billion. Mr. Singh was conferred Padma Bhushan Award in 2010 by Government of India. He penned his autobiography which was launched in 2011, titled “Whatever the Odds: The Incredible Story Behind DLF”.
Rohtas Goel, founder of Omaxe Limited, a real estate company based in New Delhi is among the leading entrepreneurs of India. Hailing from Hassanpur, Haryana Mr.Goel is a first generation entrepreneur and civil engineer who started his career with a private construction firm. Later he started his own construction and contracting business in 1986 and founded Omaxe Builder Pvt Limited in 1989, which in 1999 became Omaxe Limited Company.
In 2007, he was featured in Forbes list of India’s richest at 48th number. Omaxe Limited has delivered some of the most prominent commercial projects pan India some of which include Pearls Omaxe, Omaxe Arcade, Omaxe Palm Court, India Trade Centre, Omaxe Hazratganj, Royal Street, World Street, and Omaxe Plaza. Omaxe Limited has delivered over 100 million sq ft of developed spaces including residential and commercial towers. Now the group has its presence in 27 cities in 8 states.
Sameer Gehlaut, one of the youngest self-made first generation entrepreneurs is the Chairman and Founder of Indiabulls Group. He has created one of the most inspiring success stories in Indian business vault. Sameer Gehlaut, an IIT, Delhi graduate founded the group in 1999. The Group has delivered some of the most remarkable commercial towers including One09, Gurgaon and One Indiabulls Centre, Mumbai. Also, NEO City, Nashik is also Indiabulls development.
The group has now become India’s third largest real estate company with net worth and assets, with a total Gross Development Value of INR 349.6 billion (US$4.9 billion) and net worth of INR 72.18 billion (US$1.0 billion), as of June 30, 2015. Also, in 2015 Indiabulls Real estate acquired the prime property, 22 Hanover Square in central London for INR 16.3 billion.
Ramesh Chandra is the founder of India’s second-largest real estate investment company Unitech Group. The company is based in New Delhi and ranks 1484, in Forbes Global 2000 listing of public companies in world and 32nd in India. His vast knowledge in the real estate sector and sound technical awareness has earned him a reputation as India’s leading entrepreneur and has come up as the brightest thought leaders in the Indian real estate industry.
Initially, Mr.Chandra started his consultancy firm for soil and foundation engineering with four other partners under the name, United Technical Consultant Private Ltd. Later he shifted his interest towards real estate and construction and started taking up big and small projects under the name Unitech Group. Established in 1971, Unitech has now emerged as a leader in commercial real estate development and has also delivered some of the biggest residential projects.
Amit Ramani is a budding entrepreneur and started a coworking company Awfis in April 2015.
By March 2016 the company has 4000 seats across Delhi, Mumbai, and Bengaluru which expanded to 25,000 seats across 55 centers pan India in July 2018. In October 2016, the company started its first out of van mobile office in Delhi with ample facilities including WiFi, teleconferencing, printing, pantry, meeting table and more.
Also, the company has tie up with luxury hotels including Trident, Lemon Tree, Marine Plaza, Hyatt to provide meeting rooms for its clients. Awfis has now emerged as India’s largest coworking space provider and has raised $20 million in series C funding from its existing investors Sequoia Capital.
Vipin Chautani, another big name in Commercial Real Estate is an interior designer and Co-Founder and Managing Director at Synergy Corporate Interiors Pvt LTD. the company was founded in 1998. Mr. Chautani is an architecture graduate from premier School of Planning & Architecture, New Delhi. He is now also a member of Indian Institute of Design (IID), New Delhi and Project Management Institute (PMI), Pennsylvania.
The company has emerged as an elite design firm specializing in creating admirable workplaces and fit-outs for corporate offices. Some of the eminent clients for which the company has delivered top-notch designs are Hathway, ITC, Bharti Airtel, IATA, Sequoia, Berger, Bajaj Allianz and many more.
On this International Men’s Day, OFCSPC celebrates the success of the highly recognised entrepreneurs. As the industry offers a wide range of opportunities, Indian CRE entrepreneurs with their hard work and innovative ideas have a long way ahead.