Journey of Kamal Khetan into the real estate industry has been quite inspiring. He started his company Sunteck Realty Ltd. in 2000 with limited capital and went on to make it one of the top 10 listed realty companies in India. Under his leadership, Sunteck Realty Ltd. transformed the luxury property scene in Mumbai.
Foray into Real Estate Development
In 2009, Kamal Khetan was ranked as 91st richest man in India by Forbes, a globally-read business magazine. He founded his company in 2000 but forayed into real estate development in 2005 with a joint venture on a commercial property in Mumbai. This property was located in the suburbs of Vile Parle. Since then there has been no looking back. Today, residential as well as commercial projects by Sunteck enjoy a list of prestigious clients including industrialists and celebrities. In the commercial property sector, Mr. Kamal Khetan’s company has developed various world-class office buildings and commercial complexes, serving the needs of blue chip Indian as well as international companies.
The financial performance of Mr. Kamal Khetan’s company has been strong and consistent. It also enjoys a strong investor interest. Sunteck did total sales of 3000 Crore INR between 2008 and 2013 compared to the 100 Crore sale in 2007. These numbers have been achieved by the company without much leveraging of its balance sheet. Compared to other real estate development companies that continue to grapple with heavy debt and low sales, Sunteck has always managed to attract investors.
The company has created shareholder value and recorded exponential growth through strategic partnerships and acquisitions. Some of the most outstanding accomplishments of Sunteck have been possible due to Kamal Khetan’s expertise and knowledge of the real estate sector. He has always acted as the visionary entrepreneur, taking the company to new heights.
The demand for luxury goods is at an all time high. It is not just a mere want any more, but a need among the upwardly mobile to have the next best thing. Be it the newest ‘it ‘ hand bag that costs more than the average annual earnings of an average urban professional or the latest in premium automobiles that make even driving down the block a style statement. The allure of the luxury product lies not just in its hefty price tag, quality and the fact that only a select few can actually afford to possess them, but also in the way these goods are marketed. Luxury marketing across the board has also been about its exclusivity. There are no inundations in the media with multiple advertisement campaigns and no material being pushed down our throat.
Word of mouth publicity, select outreach to a confined circle and a few well timed announcements that do a world of good to intrigue the ones that aspire to own and inform the ones that can actually partake in the said goods. The arena of luxury marketing is definitely an extremely interesting and one that is more than just about the product value, quality and brand image. It is also about the emotion that the name invokes, a feeling of having made it if you will, and also what the brand ultimately symbolizes. For example, jewellery giant Tiffany’s is come to be known as a representative of allusive luxury, beauty and love. And who can forget Audrey Hepburn in the classic film ‘Breakfast at Tiffany’s’ standing outside the storefront hoping for more from her life making do with gazing at the glittering baubles, a symbol of something greater. That is the power of an exclusive luxury product.
Another industry that is greatly benefiting from these kinds of strategies is real estate. With rise of premium and luxury real estate, luxury marketing has now been extended to the real estate industry as well. Buyers are getting more and more discerning and wanting a certain je ne sais quoi that comes along with their homes and business spaces. Few real estate companies have managed to tap into the ultra luxury market with the focus and niche vision like Kamal Khetan’s Sunteck. Word of mouth publicity and a confined circle marketing tactic has raised as much interest as the great quality and amenities promised and delivered by the company. With offerings that have become synonymous with luxury, the company spearheaded by the dynamic Kamal Khetan have tapped into the power of this niche form of marketing and other real estate honchos are sure to follow suit.