SALES PROCESS ANALYSIS

OF THE REAL ESTATE

SECTOR
REPORT SUBMITTED TO

PROF. VASUDEVAN. M
As part of

CIA III

Of

SALES MANAGEMENT &

NEGOTIATION SKILLS
By

GROUP 2

GOWTHAM P M 1827009 | ASHAY PANDEY 1827304

PRAKRITI PUSHP 1827343 | PAUL M JOSHY 1827415

TILAK BHATTACHARJEE 1827425 | IRA AGRAWAL 1827436

 TABLE OF CONTENTS

S PAGE
SECTIONS/SUB SECTIONS
NO. NO.

1. SUMMARY 5

2.1 INDUSTRY PROFILE/ANALYSIS 5

2.2 COMPANY PROFILE 9

3. GEOGRAPHICAL ANALYSIS OF PURAVANKARA 12

4.1 SALES FORCE STRUCTURE 14

4.2 JOURNEY PLANS 16

4.3 SALES QUOTA 17

DAILY SCHEDULE OF A SALES PERSON AT

4.4 17
PURANAKARA

4.5 PJP AT REAL ESTATE 18

4.6 TARGETS AND INCENTIVES AT PURAVANKARA 18

5. SALES FUNNEL AT PURAVANKARA 18

6. ANNUAL SALES PLAN DERIVING METHODOLOGY 22

7. COMPETITOR ANALYSIS OF REAL ESTATE INDUSTRY 30

LEARNING OUTCOMES/ CONCLUSION OF THE

8. 34
ANALYSIS

Page | 2
9. REFERENCES 35

LIST OF FIGURES

S. NO. TOPIC PAGE NO.

1. Indian Real Estate Industry 7

2. Puravankara logo 9

3. Awards and Recognitions of Puravankara 11

4. Year wise Graph of Puravankara 12

5. Organizational Structure 16

6. Roles and Designations at Puravankara 17

7. Sales Funnel 19

8. Competitor Analysis 31

Page | 3
 LIST OF TABLES
S. NO. TOPIC PAGE NO.

1. Year 1 Sales Objective 24

2. Ideal Customer Profile: B2C Sales 24

3. Ideal Customer Organization Profile: B2B Sales 25

4. New Business Acquisition Tactics 26

5. Progress Reports Review 27

6. Communication Management 27

7. Conversion Rates 28

8. Sales Cycle 28

9. Roles and Responsibilities 29

10. Budget 30

Page | 4
1. SUMMARY

Real Estate Industry is the most growing sector in India after Agriculture. It contributes to a
large number of share in India's GDP. Sales Process in a Real Estate company is almost same
as of any other sector, it is just that in real estate the investments are high, hence customers
backing out ratios are also high. Closing the deal may take up to 6 months as well but then after
a certain level of experience it becomes easier for sales people to determine the customers who
are actually looking to invest in their properties. Indians have always been extremely
sentimental when it comes to home and properties, for many it is a lifetime investment and
they put everything they have in buying themselves a home,, so they definitely look for the
best deal available in the market for them, which certainly makes real estate sector a very
competitive one.

This report consists of Industry analysis of Real Estate sector, followed by the Company Profile
of Puravankara. We had a telephonic conversation with a Sales person from Puravankara and
based on the insights shared by him, we have worked on the:

Geographical analysis at Puravankara: How the potential territories are determined and
which all are the most effective areas for real estate business in and around Bangalore.

Sales force structure at Puravankara (Sales Quota/ Targets/ Incentives/ Daily Schedule/ PJP
at Puravankara)

Annual Sales Plan

Sales Funnel consisting of AIDA and their application in Real Estate.

Competitor Analysis in real estate sector.

2.1 INDUSTRY PROFILE/ANALYSIS:

The real estate sector is one of the most globally recognized sectors. It comprises of four sub
sectors - housing, retail, hospitality, and commercial. The growth of this sector is well
complemented by the growth of the corporate environment and the demand for office space as

Page | 5
well as urban and semi-urban accommodations. The construction industry ranks third among
the 14 major sectors in terms of direct, indirect and induced effects in all sectors of the
economy.
It is also expected that this sector will incur more non-resident Indian (NRI) investments in
both the short term and the long term. Bengaluru is expected to be the most favoured property
investment destination for NRIs, followed by Ahmedabad, Pune, Chennai, Goa, Delhi and
Dehradun.

Market Size
Real estate sector in India is expected to reach a market size of US$ US$ 1 trillion by 2030
from US$ 120 billion in 2017 and contribute 13% of the country’s GDP by 2025. Retail,
hospitality and commercial real estate are also growing significantly, providing the much-
needed infrastructure for India's growing needs.
Sectors such as IT and ITeS, retail, consulting and e-commerce have registered high demand
for office space in recent times. Commercial office stock in India is expected to cross 600
million square feet by 2018 end while office space leasing in the top eight cities is expected to
cross 100 million square feet during 2018-20. Gross office absorption in top Indian cities has
increased 26 per cent year-on-year to 36.4 million square feet between Jan-Sep 2018. Co-
working space across top seven cities has increased sharply in 2018 (up to September), reaching
3.44 million square feet, compared to 1.11 million square feet for the same period in 2017.
Recent Trends/Investments/Developments
The Indian real estate sector has witnessed high growth in recent times with the rise in demand
for office as well as residential spaces. Private Equity and Venture Capital investments in the
sector have reached US$ 4.1 billion between Jan-Nov 2018. Private Equity and Venture Capital
investments in the sector have reached US$ 4.1 billion between Jan-Nov 2018. Institutional
investments in India’s real estate are expected to reach US$ 5.5 billion for 2018, the highest in
a decade.
According to data released by Department of Industrial Policy and Promotion (DIPP), the
construction development sector in India has received Foreign Direct Investment (FDI) equity
inflows to the tune of US$ 24.87 billion in the period April 2000-June 2018.
Some of the major investments and developments in this sector are as follows:

 New housing launches across top seven cities in India are expected to increase 32 per
cent year-on-year by 2018 end to 193,600 units.
Page | 6
  In September 2018, Embassy Office Parks announced that it would raise around Rs 52
billion (US$ 775.66 million) through India’s first Real Estate Investment Trust (REIT)
listing.
 New housing launches across top seven cities in India increased 50 per cent quarter-on-
quarter in April-June 2018.
 In May 2018, Blackstone Group acquired One Indiabulls in Chennai from Indiabulls
Real Estate for around Rs 900 crores (US$ 136.9 million).
 In February 2018, DLF bought 11.76 acres of land for Rs 15 billion (US$ 231.7 million)
for its expansion in Gurugram, Haryana.

Government Initiatives:
The Government of India along with the governments of the respective states has taken several
initiatives to encourage the development in the sector. The Smart City Project, where there is
a plan to build 100 smart cities, is a prime opportunity for the real estate companies. Below are
some of the other major Government Initiatives:

 Under the Pradhan Mantri Awas Yojana (PMAY) Urban, more than 6.85 million houses
have been sanctioned up to December 2018.
 In February 2018, creation of National Urban Housing Fund was approved with an
outlay of Rs 60,000 crore (US$ 9.27 billion).
 Under the Pradhan Mantri Awas Yojana (PMAY) Urban 1,427,486 houses have been
sanctioned in 2017-18.

Fig1: Indian Real Estate Industry

Page | 7
Road Ahead
The Securities and Exchange Board of India (SEBI) has given its approval for the Real Estate
Investment Trust (REIT) platform which will help in allowing all kinds of investors to invest
in the Indian real estate market. It would create an opportunity worth Rs 1.25 trillion (US$
19.65 billion) in the Indian market over the years. Responding to an increasingly well-informed
consumer base and, bearing in mind the aspect of globalization, Indian real estate developers
have shifted gears and accepted fresh challenges. The most marked change has been the shift
from family owned businesses to that of professionally managed ones. Real estate developers,
in meeting the growing need for managing multiple projects across cities, are also investing in
centralized processes to source material and organize manpower and hiring qualified
professionals in areas like project management, architecture and engineering.
The growing flow of FDI into Indian real estate is encouraging increased transparency.
Developers, in order to attract funding, have revamped their accounting and management
systems to meet due diligence standard.

Trends 2017
The year 2017 as we all know has set a new benchmark for the Indian real estate sector. The
implementation of demonetisation in November 2016 had the entire economy reeling until the
first quarter of 2017 and the realty segment was not pardoned either, with land sales reaching
stagnation due to more involvement of cash transactions. However, this eventually helped
reduce land prices thereby making the end products more affordable to the consumers. By April
2017, when the markets were looking to stabilise, RERA and GST were announced in
succession which again caused some inertia due to confusion among buyers and developers
alike, with both awaiting the final set of RERA notifications/legislation from their respective
state regulatory bodies.
While business cycles have been affected this year due to buyers holding back purchases in
anticipation of regulatory changes, and sales are still witnessing a slowdown, we are observing
signs of recovery as the triple effects of demonetisation, RERA and GST have begun to shape
up the sector with new standards of delivery, accountability and transparency. Post
implementation of these reforms, the following impacts have been observed in the market so
far:
1. More demand for 2 BHK & 3 BHK segment - apparent by a steady surge in site visits.
2. Preference for ready to move-in properties that are hassle-free of any compliance issues.

Page | 8
3. Willingness to pay a premium for long-standing reputed developers.

Technology has revolutionized our world making our lives more convenient. Cell phones and
mobile devices are no more just a medium to communicate. With the rapid advancement of the
internet technology, people also may buy their dream homes online.
The start-up culture is making great strides in the real estate space too. Plenty of brokerages
are trying to tap into the start-up rage in India. Tech-fuelled start-ups are changing the face of
real estate in India with their more customer-centric approach catering to every small problem
and fulfilling the same in the sphere of real estate.
2.2 COMPANY PROFILE:

Fig 2: Puravankara Logo

Since its inception in 1975, Puravankara has believed that there is only one mantra for
success: Quality. This credo combined with uncompromising values, customer-centricity,
robust engineering and transparency in business operations, has placed it among the ‘most
preferred’ real estate brands in both residential and commercial segments. The Company has
grown from strength to strength, having successfully completed 48 residential projects and 2
commercial projects spanning upto 23.54 million square feet (PPL’s economic interest –20.93
msft). Currently it has 24.87 million square feet / 17,895 units (PPL’s economic interest – 22.03
msft/ 16,188 units) of projects under development, with an additional 22.73 million square feet
(PPL’s economic interest – 18.98msft) in projected development. An ISO 9001 certification by
DNV in 1998 and a DA2+ rating by CRISIL are testaments to Puravankara’s reputation as a
real estate developer of the highest quality and reliability standards.The Group commenced
operations in Mumbai and has established significant presence in the metropolitan cities of
Bangalore, Kochi, Chennai, Coimbatore, Hyderabad, Mysore and overseas in Dubai,
Colombo and Saudi-Arabia.

Page | 9
VISION: A future wherein Puravankara is a household name the world-over. A future
wherein this brand symbolizes unique landmarks and superior community living of the highest
standards of quality and customer delight.

PHILOSOPHY: "At Puravankara, all our endeavours revolve around just one entity – our
customers. Their need, dreams and aspirations are pivotal to our decisions. We call this “The
You Philosophy”

Puravankara has introduced transformational initiatives to enhance project

delivery and quality

QMS: Quality Management System’ is a repository of processes and systems, which define all
activities at Puravankara. The QMS ensures delivery of a quality product at optimum cost and
minimum impact to the environment and society at large. QMS training is mandatory for all
employees, upon qualification they are QMS certified. Puravankara QMS conforms to the ISO
9001 standard.

PRM: Project Review Management is a monthly review process for ongoing projects. PICs
(project-in-charge) prepare a progress report benchmarked against international best practices
including project progress, project cost report, project inventory and project risks. Senior
management presence at these forums enables quick resolution of project issues and provides
impetus for speedy execution. The PRM rates all PPL projects on key parameters such as
progress, schedule, cost, quality, safety and housekeeping. Outstanding projects receive a
commendation every month; best-in-class projects are awarded every quarter. To ensure that
the property we sell comes with clean titles, Puravankara legally verifies every project they
choose to market by qualified legal experts. This makes the home buying process easy and safe
for every individual who aspires to buy a dream home. Below are some of the legal checks they
do before we choose to market a property: (i) Sale deed (ii) Mother deed (iii) Building approval
plan (iv) Commencement certificate (v) Conversion certificate (vi) Khata certificate &
khata extract (vii) Encumbrance certificate (viii) Betterment charges (ix) Power of attorney (x)
Latest tax paid receipts (xi) Completion certificate (xii) Occupancy certificate.

Page | 10
Fig 3: Awards and Recognitions of Puravankara

Page | 11
 Fig 4: Year wise Graph of Puravankara

3. GEOGRAPHICAL ANALYSIS OF PURVANKARA

The Puravankara Group headquartered in Bengaluru, was established in 1975 and has over 38
years of experience in property development, real estate and construction sections in India, and
one among the largest in South India. The Group has considerable presence in the metropolitan
cities of Chennai, Pune, Kochi, Coimbatore and overseas in Colombo and Dubai also with a
focus on developing residential (comprising of luxury and premium affordable housing
projects) and commercial projects. In Bangalore, they build residential areas as well as
commercial spaces in Sarjapur, Whitefield, JP Nagar etc. The Company’s joint venture with
Keppel Investment Mauritius Private Limited in 2005, had launched Elite Promenade in JP
Nagar, Bangalore during July 2005.

In addition, they have Land bank covering approximately 7.43 million square feet of
developable area in Colombo, Sri Lanka for a proposed residential project consisting of
apartment complexes and independent villas and townhouses. They also have a sales and
marketing office in the United Arab Emirates and Saudi Arabia. Their promoter commenced
operations in the real estate industry in Mumbai in 1975 and has over 38 years of experience
in the property development, real estate and construction sectors in India. In June 2006,
Purvankara Group signed an MOU with the City Municipal Council, Yelahanka in an effort to
develop the double road connecting the Doddaballapura Road to Yeshwantpur Road.

PROSPECTING OF POTENTIAL CUSTOMERS:

 Follow up on every lead: Storing contact information, keeping records, and following
up on leads is absolutely essential for Purvankara Builders. One of the best prospecting

Page | 12
 tips is to keep meticulous notes of their customers i.e. they keep a record of everything
they learn about a prospect.
 Setting up personal meetings: Part of any successful prospecting plan is scheduling in
time to actually meet people in their lead funnel as people like to do business with
whom they know and like. Similarly, Purvankara Builders marketing executives
schedule the time to meet with people in person and they are flexible enough to do so
on their time frame when it’s required.
 Engagement in content marketing: Content marketing techniques for Purvankara
Builders include:

 Blog posts.

 Social media memes.

 How-to videos.

 Behind-the-scenes tips.

 Build a referral business: the first thing real estate agents (like Puravankara Builders)
does is that they gather everyone they know and put them in one place where they can
easily access their information to contact them regularly. They constantly build their
referral base of people and have a system of staying in contact with these people by
diversifying the ways they are contacted.
 Cold calling: Cold calling is a very effective technique for targeting the potential
customers and Puravankara builders also feels the same. The real estate script for cold
calling needs to be fast in order to make more calls per day. It should also be
understandable and tactful. Cold calling to homeowners who are generally confused
results in more time explaining in who is calling and why they are calling which is a
waste of time for them.
 Finding local leads on Facebook/Instagram: Facebook has become an increasingly
valuable tool for agents who want to get their services in front of their target audience.
According to a recent study by the National Association of Realtors, 80% of agents use
Facebook to nurture leads and connect with their community. Puravankara Builders
runs ads or promote their posts to specific audiences (setting demographic variables)
and specific geographies where they operate thereby generating leads.

Page | 13
  Hosting free real estate seminars: A well-publicized free seminar can be real estate
prospecting gold. Puravankara Builders believes in this aspect and they host real estate
seminars which encompasses the following points:

 The basics of buying your first home.

 Downsizing: Is it really for you?
 Tips to sell your home fast.
 The biggest mistakes new homebuyers make.
 The 5 ways anyone can own (not rent) a home.

4.1 Sales Force Structure

Construction Company involves in constructing buildings and infrastructure for the
development of cities and industries. Generally, a construction company contains basic
function units including:
HR, Purchasing, Project, Engineering, Financial, and Marketing department. On the
other hand, PURAVANKARA LIMITED follows the given hierarchy for sales force:

President/Chief Executive Officer

This is the top level in the hierarchy in this Construction Company. This person is
responsible for overall business growth. He deals with clients and stake holders. President/CEO
of the Construction Company is answerable to the board of directors and company’s owner.

Managing Director

Managing director of this Construction Company acts as a leader for the employees. For a
successful business companies requires a dynamic managing director who reaches the heights
and achieves the company’s goal. He also supervises the operational management team of all
projects undertaken by company. For getting the productive results, managing director works
with other senior management professionals in the right direction. His role also includes
creating and executing the strategic plans. He also discusses the annual business plans and
budget with senior people.

Project Director

Page | 14
A project director always tries to complete the project in the given budget and given time. He
always keeps an eye on the project team and gives them proper guidance. Project director
discuss the all project related issues in the meetings and sort out them. He has given the
responsibility to hire the technical officials to smooth execution of project.

Quality Manager

The role of the quality manager in this Construction Company is to use the statistical methods
to control the quality. He is responsible for maintaining testing data records and construction
reports.

Financial Team

Hierarchy in this construction company also possesses a financial team which has its own
importance. Their main construction job is to maintain the cash flow which is quite helpful for
smooth operation of construction project.

Designing Team

This team is the team of dedicated and skilful professional designer those are responsible for
making the designs for future projects as per client’s requirement.

Legal manager

He keeps an eye on the project so that the project runs smoothly and must fit in to legal
framework

Project supervisor

Project supervisor’s main role in this construction company is to supervise and arrange the
construction material and the labours.

Project Coordinator

Page | 15
Project Coordinator is the professional who is responsible for executing the day to day
operations and for getting the work done from low level staff. This personnel coordinates with
the working staff and the construction management.

Fig 5: Organizational Structure at Puravankara

4.2 JOURNEY PLANS

Each and every day sales team is assigned with a particular area or territory to cover. Lead is
provided to the sales executives much in advance and they are expected to meet around 20-25
channel partners based on and make them aware regarding the current and upcoming projects.

4.3 SALES QUOTA

Page | 16
  Each and every member of the sales team is required to get 20 clients at the end of the
month
 If someone manages to get clients above the prescribed target, he gets the incentive of
around 15-20 thousand per customer.
 For the launching program each member is expected to come up with 15 channel
partners

Fig 6: Roles and Designations at Puravankara

4.4 DAILY SCHEDULE OF A SALES PERSON AT

PURAVANKARA:

 Every member has to report at 9am in the office

 After arrival of every member a meeting is conducted including site head , team leader
and sales team in which daily plans are discussed
 After the meeting everyone is expected to visit their territories and reach out their
channel partners
 At 6pm everyone once again reports at the office and is supposed to give information
regarding daily targets achieved.

4.5 PERMANENT JOURNEY PLAN (PJP) IN REAL ESTATE:

Page | 17
Beat Plan (also referred as 'Permanent Journey Plan') is a day level route plan made for
field sales/marketing personnel to make visits to a number of stores at a pre-defined frequency.
A Beat Plan defines whom to visit, when to visit, based on company's priorities on stores
category/segment .Permanent Journey Plan is extremely crucial when it comes to Real Estate
sector, as the potential customers are not as high as in any FMCG, retail or Consumer Durable
industry, so they cannot afford to lose a single potential customer and hence all the sales people
at Puravankara has a specific permanent journey plan which they follow.

4.6 TARGETS TO BE ACHIEVED AND INCENTIVES

PROVIDED:

 5% of every deal closed by the Sales person and also the 500/- per site visit that they
do.
 Incentives are provided in case of exceptional performances and also high customer
satisfaction.
 As it may take months to close a deal in this sector, the performance is also evaluated
based on the number of visits that the sales person is making.
 Festivals are the best opportunities to make money for this sector.

5. SALES FUNNEL:

A sales funnel, also called a purchase funnel, is the visual representation of the customer
journey, depicting the sales process from awareness to action. The funnel, which is sometimes
referred to as a marketing funnel or revenue funnel, illustrates the idea that every sale begins
with a large number of potential customers, and ends with a much smaller number of people
who actually make a purchase. Sales funnel stages will vary by company, but they are generally
divided into four sections.

Page | 18
 Awareness

Interest

Decision

Action

Fig 7: Sales Funnel

 Awareness: This stage includes the largest amount of customer prospects. It's at this stage
in which customers have determined a problem, begun searching for a solution and become
aware of an organization via content marketing, an email campaign, social media
marketing or other avenues.

 Interest: At this stage, the number of customer prospects begins to decrease, but the
possibility of a sales conversion increases. This is generally when the customer will engage
with the organization, request more information and ask questions.

 Decision: Once the customer has become aware of the organization, reached out and sought
answers to questions, it's time for the decision. This stage of the process may include sales
offers and further research into the different options presented by the organization.

 Action: All of the previously mentioned stages funnel down into the final step: action. At
this point, the customer has decided to purchase the product.

Page | 19
SALES FUNNEL AT PURAVANKARA:

Awareness:

Mostly the lead about a potential customer comes from Online Search results, online house
hunting websites and cold calling. For a premium project like Mana Tropicale, which is the
property marketed by Puravankara, the product knowledge was communicated by the Site
Experts, where a site visit along with all the details of the property was given.It is difficult to
sell real estate without having proper knowledge about the product. Also, the consumers put
in a lot of effort in buying real estate as it’s their dream investment. Prospecting: Leads are
generated by the company mainly from external online portals on Real Estate where
prospective clients check in to search for the particular property that is Mana Tropicale.
These leads generated are contacted at the earliest in the form of Tele-calling where the calls
are made and followed up to invite them for the site visit.

Interest:

Pre-approach: Every person who wants to experience the property with prior scheduled visit
or walk-in is greeted at the reception introduced to all the services of Puravankara. The
preference in terms BHK & price range is discussed alongside as a prerequisite to share the
information with site tour expert.Approach: A good approach makes a favourable impression
and establishes certain relationship between buyer and seller. Salesperson can attract attention
of the buyer by offering samples, highlighting the difference between his product and
competitor. For a good first impression you can greet them in local language, professional
attire with proper body gesture and eye contact.

Decision:

I. Need assessment:The Site expert gathers information of what kind of an apartment is

the client looking for and thus doing the needful accordingly
II. The presentation: Guided Site tour: The site tour experts are professionally trained
with the right knowhow on the property, quipped with providing all the essential
information of the property such as the amenities, dimensions of units the property has
to offer, address specific requirement of prospects if any. Site tours experts ensure that
they connect well with the prospects requirements by gathering specific information
such as if the prospect would be looking to have a unit with bigger garden area or
looking for a particular unit within a specified budget. I along with other fellow interns
got the opportunity to introduce the prospective buyer to the property details including

Page | 20
 keeping a strong connection with them along the way gathering information regarding
what they want.
a) Objection Handling
During the time of sales, there were customers who had certain objections and
confusions regarding the property since they did not have much information or
awareness regarding Puravankara and the company’s role.
The main concerns that had been occurred in the minds of customers were that the
property is far from the main road. Other concerns were regarding the loan assistance
and related financial confusions about the help provided by the Puravankara..
The distance problems were mainly cleared by different routes shown as well as
enhancing the idea of Mana Tropicale being a green project providing unpolluted water
throughout.
For the financial concerns, the Head of the Banking team and the Financial Expert,
Mr.Theja was present at the site to clear any doubts and act as an advisor. Based on the
income portfolio of the prospect, the Financial Expert suggests the ideal financial means
to buy the property. Financial expert ensures that the prospect get the best interest rate
and maximum eligibility while applying for a home loan. The benefits of availing a
home loan through Puravankara is discussed at this point of time which are as follows:

a. Best interest rate with max eligibility

b. Help in documentation for home loan

c. No home loan processing fees

d. Faster home loan approvals

e. Proactive updates on home loan status

f. Introduce pre-EMI options if any

Action: It is assumed that 80% of sales are lost due to no proper closure. Closing helps in
solving the issues on time. Here we get an assurance from customer that he will buy our product
as well as he has several doubts and confusions which need to be addressed to influence him
to make a purchase. Based on the information shared by the Financial Expert, the Sales Experts
present relevant floor plan and available unit to the prospects. Puravankara helps to avail a
better price for the prospects through referrals. A valuable feedback is taken from the prospects

Page | 21
regarding the services they received from Puravankara and the Company keeps in touch with
them until the completion of home buying process. After sales Follow-up:. After sales services
provided by the Company are another major unique factor which causes the company to have
the least number of competitor in its field like Resale assistance, Rental support etc. For sales
the company stays as a continuous guide along the construction of the home till the possession
is transferred to the customer.

6. ANNUAL SALES PLAN:

A sales plan is a strategy that sets out sales targets and tactics for a business, and identifies the
steps to meet the targets.

A sales plan will help in,

 Define a set of sales targets for your business

 Choose sales strategies that are suited to your target market
 Identify sales tactics for your sales team
 Activate, motivate and focus your sales team
 Budget and clarify steps you'll take to achieve your targets
 Review your goals periodically and improve your approaches to sales.

A sales plan sits within, or alongside, a marketing plan to direct the efforts of your sales team.

Most businesses develop or update sales plans periodically - every 6 or 12 months. A sales plan
has to be treated as a 'living' document that you can revise regularly.

An ideal Sales Plan should cover all the reasonable proposals that have been suggested by the
clients, while covering all the aspects that you need in a sales cycle. Its main aim is to determine
how to sell the product internally too along with various other implementation techniques of
your product.
A successful Sales Plan involves the following actions:
 Before setting a plan, all the priorities are identified and arranged. After this, the
respective allocation of necessary resources is done. The managers ensure that the
allotted time and resources are used until the desired goals are achieved.

Page | 22
  The next step is to develop strong working teams and strengthen their internal and
external partnerships. This will help the company to easily share necessary information
as well as its resources and then advertise new and improved business products.
 Plan the budgeting process in advance and check if the process is predictable or not.
Corresponding adjustments in budgets to include various expenses, revenues are also
calculated in this step.
 Finally, create an experienced team that has already worked on a similar project and is
familiar with all the processes involved.
This way, it is possible to create a successful plan that assists companies to run their business
more efficiently. However, plans do not bring success; their successful implementation does.
The team managers need to make sure that all the team mates are putting in their best and
sincere efforts in this plan.

Sales plan Format:

Company Name
Company Address
Date of Plan Adoption
Mission and Objectives
Company Mission Statement
This is a formal statement describing what business plans to achieve. An example of a good
mission statement is: We provide customers with cutting-edge digital marketing solutions with
best-in-class technical support at a profit to our shareholders.
Sales Objectives

The sales objectives outlined below are goals supporting the company’s growth a year from
now, as well as years in the future, in terms of increasing revenue, market share, or profit
margin

Enter your immediate sales objectives. Objectives should be specific, measurable,

achievable, relevant, and timed. This is also known as being SMART.

Year 1 Sales Objectives

Page | 23
 How Objective Will Audit
Objective
Be Measured Frequency

Example: Grow top-line Example: Year-to-

sales revenue by 15% date comparison Example:
1
within one year of plan against previous Monthly
adoption. year’s Sales Report

2
3

Table 1: Year 1 Sales Objective

Ideal Customer Profile: B2C Sales

Gender

Age

Family Life

Homeowner

Income

Education

Interests

Available Sales Example: Phone, email,

Channels LinkedIn, Twitter

Table 2: Ideal Customer Profile: B2C Sales

Page | 24
 Ideal Customer Organization Profile: B2B Sales

Company
Size by
Annual
Revenue

Company
Size by
Number of
Employees

Relevant
Example: Professional services
Industries

Sales Territory

Geographic
Location or
Example: New England states
Named
Accounts

Exceptions Example: Rhode Island

Table 3: Ideal Customer Organization Profile: B2B Sales

Strategies & Tactics

These are the longer-term strategies and day-to-day tactics that will be used to acquire new
business opportunities as well as growing business with existing customers.

Page | 25
“List the strategies that will be used to accomplish your sales objectives with regards to
gaining new customers. Identify at least two tasks that will be performed by members of the
sales team on a daily or weekly basis in support of each strategy. ”

New Business Acquisition

Supporting
Strategy
Tactics

Example:
Send no less
than xx
letters of
introduction
Example: Exceed sales quota to new
prospects
each week

Table 4: New Business Acquisition Tactics

Sales Tools & Systems

The following systems will be used ensure the sales process is managed and sales activities are
performed using approved tools. Progress reports will be used to measure the plan’s success
per the defined schedule.

Progress reports are the tools intended to use to track company and individual performance.
Fill in the table below with the reports you plan to use to describe how the report will be
generated and where it will be stored. Include how often the report will be used to review
progress.

Page | 26
 Where
Progress to Find Review
Reports the Schedule
Report

Example:
By the
Example: Example: 10th
Pipeline Pipeline business
Report Report day of
each
month

Table 5: Progress Reports Review

Communication and
Tool and Description of Intended
Contact
Use
Management

Contact
Example: CRM
Management

Example: Salespeople will be able

to use their preferred device for
Phone
calls that will be logged with mobile
app

Example: Salespeople will be able

Email to use either Gmail or CRM email
service

Example: Instant Messaging

Other
Service

Table 6: Communication Management

Page | 27
 Value Considered
Conversion Rates
Successful

Calls to Marketing Qualified Example: One out of every

Lead eight calls

Marketing Lead to Sales Example: One out of every

Qualified Lead three presentations

Sales Qualified Lead to Booked Example: One out of every

Order (win %) five proposals sent

Table 7: Conversion Rates

Average Length of Time in

Value Considered Successful
Sales Cycle

Time to Qualify Marketing

Example: 48 hours
Lead

Time to Qualify Sales Lead Example: One week

Time to Book Order Example: One month

Table 8: Sales Cycle

Page | 28
Roles and Responsibilities

Summary of Team
Role KPI
Responsibilities Members

Example:
Example: Example: Sets Existing
Account customer account
Manager strategy revenue
growth

Example:
Time
Example: Issues
from
Example: quotations on
when a
Sales behalf of
quote is
Coordinator account
requested
manager
to when it
is sent

Example:
Example: Lead
Example: Number
acquisition
Telemarketer of calls
campaigns
made

Example:
Example:
Number
Website
Example: of leads
enablement and
Marketing resulting
sales collateral
for online
development
sources

Table 9: Roles and Responsibilities

Page | 29
Budget:

Estimated
Expense
Value

Example:
Salaries

Example:
Commissions

Example:
Travel

Example:
Telephone

Example:
CRM

Example:
Subscription
Costs

Table 10: Budget

7. COMPETITOR ANALYSIS

According to the five competitive forces theory, the competitions in an industry not only exist
in the competitors, but there exist five basic competitive forces, which are the threat of new
market entrants, the threat of substitute products, the bargaining power of buyers, the
bargaining power of

Page | 30
 Threat of new market entrants

Bargaining power of suppliers bargaining power of buyers

Industry rivals
Suppliers Competition within existing rivals Buyers

Threat of substitute products

Substitute products

Fig 8: Competitor Analysis

The situation and comprehensive strength of the five basic competition forces determine the
competition intensity of industry and the industry profitability. Moreover, the competition
intensity determined by five forces is different between in industries, and changes with the
development of the industry .Let us understand how each of them effect Puravankara Limited

The threat of new market entrants

Tech-fuelled start-ups are changing the face of real estate in India with their more customer-
centric approach catering to every small problem and fulfilling the same in the sphere of real
estate. These start-ups can carry sales to other builders. Some of the new start-ups in the
industry are

99acres
Run under the parent company Info Edge, 99 acres has been in the real estate space in India
since 2005. The online real estate database website has its headquarters in Noida. The website
features property listings from dealers, builders, brokers and property owners from more than
25 Indian cities to bring together and connect them to interested customers. Q1 if the financial
year 2015-16 witnessed 8.4 million properties listed in various sections of the website.

Nobroker
It is difficult to imagine the real estate business without middlemen and brokers. The online
real estate rental firm NoBroker, however, brought a concept to the customers that don’t
involve brokers thereby making house hunting a hassle free and a cost-effective
experience. Customers directly can connect with flat owners, using map-based search offers
crowd sourcing of supply. From customer customized online rental agreements to validation
checks and cost efficient properties, No broker is the right place to begin your search with.

Page | 31
MagicBricks
This Company caters to the global market with it attractive and verified offers. MagicBricks
was founded by Times Group in the year 2006 which eventually became one of the leading
property portals in India. The company follows the latest trends, technologies and features to
offer the best service to their customers. Apart from listing affordable properties, it also
presents the high-end from major Indian cities for audiences in India and abroad. It is also
known for organizing property shows across the globe.

Ghar360
Ajesh Joy and Sanju Thomas founded Ghar360 is cloud-based 3D augmented reality platform,
where they have taken digitization to a next level. The customers can walk on the digital
platform of their dream homes before it becomes a tangible reality. The customer can enter
homes using the 3D appearance as in Counter Strike or an IGI game.

The threat of substitute products

India’s real estate market is still in the formative age, and the target customers are constantly
changing. The real estate itself has no substitute. Since Puravankara limited deals with sales
and rentals of properties, the only option of substitution is travelling from an already owned
property instead of buying a new one.

The bargaining power of suppliers

The supplies of the real estate industry are lands, building materials and equipments. At present,
the suppliers of general building materials and equipments have weaker bargaining power, and
those of the special materials and equipments have some bargaining power, but the land
provider has high bargaining powers since supply of land is the most demanding and the supply
cannot be increased as per market demand.

The bargaining power of buyers

Purchasers are the object of products or services. They could be individuals, families,
organizations and government departments. So it is foundational and prerequisite for the
enterprise‘s success to understand the bargaining power of buyers and to analyze their purchase
behavior and characteristics. Real estate products are high-grade consumer goods. It’s a big
decision to purchase real estate product whether for business or for individuals, therefore, they
consider the prices very carefully. Due to a large variety of quality players in India the

Page | 32
customers have many options to choose from. They are also becoming more discerning and
demanding better quality hence they have a high bargaining power.

The competition between industry rivals

Competition between industries competitors is the most important one of the five mentioned
above. The pricing and selling strategy of competitors directly affects the performance of the
company as the market is highly elastic to price for the same kind of property. The competitors
of Purvankara includes,

ANAROCK

Anarock property consultant Pvt Ltd is one of India’s leading real estate Services Company
having diversified interest across real estate value chain. ANAROCK’s key strategic business
units comprise of Residential business: Broking & Advisory services to clients and Investment
Business: Debt, Equity and mezzanine funding business.

Prestige Group

Founded by Richard Natow in 1987, Prestige Group has flourished through ingenuity,
creativity, education and entrepreneurial thinking. An independently owned and operated
company, Prestige Group has the adaptability to meet the demands of the ever-changing
commercial real estate market. The focus of our business has evolved from our roots in land
sales to full service commercial real estate brokerage.

Sobha Limited

Sobha Limited was founded in 1995 by Mr P.N.C Menon. Since inception, they have
completed 102 real estate projects and 262 contractual projects covering about 70.54 million
square feet of area. The Company currently has ongoing residential projects aggregating to
41.81 million square feet of developable area and 26.59 million square feet of saleable area.
The Company has a real estate presence in nine cities, viz. Bengaluru, Gurgaon, Chennai, Pune,
Coimbatore, Thrissur, Calicut, Cochin and Mysore. Overall, Sobha has a footprint in 24 cities
and 13 states across India.

Brigade Group

Brigade Enterprises Ltd is the flagship company of Brigade Group which is headquartered in
Bangalore, Karnataka, India. The Brigade Group also has operations in Mangalore, Mysore,
Page | 33
Chennai, Kochi, Hyderabad and Chikmagalur, and a representative office in Dubai. It has won
national and international awards in the construction industry. It was founded by M.R.
Jaishankar in the year 1986. Brigade Group provides property development, property
management services, hospitality and education across several major cities in South India.

8. LEARNING OUTCOMES/ CONCLUSIONS:

The real estate sector is one of the most globally recognized sectors. It comprises of four sub
sectors - housing, retail, hospitality, and commercial. The Indian real estate sector has
witnessed high growth in recent times with the rise in demand for office as well as residential
spaces. Puravankara limited is one of the leading players in real estate industry in India. The
company was founded in 1975 and has completed 48 residential and 2 commercial projects.
They follow a number of structured ways to prospect for potential customers and the lead
generation includes referrals cold calling, seminars and finding local leads on Instagram and
Facebook. The sales forces are well trained and structured. They report at 9am to discuss
daily plans and are assigned a particular territory each day and are required to get 20 clients
by the end of every month. They are given incentives of 5% of every deal closed and 500 for
every visits they do. The sales team makes use of sales report, CRM tools, telephone, Email
and instant messaging services in their daily activities. Sales funnel is applied effectively in
the company. Apart from the various competition present in the market, Puravankara is able
to thrive in the market from their experiences in the market and due to their effective sales
team.

9. REFERENCES

Page | 34
Indian Real Estate Industry: Overview, Market Size, Growth, Investments...IBEF.
(2017, November 1). Retrieved from https://www.ibef.org/industry/real-estate-
india.aspx
Kotler Philip, Marketing management, New Delhi, Prentice Hall of India private. Ltd,
2014 (16th Edition)
Holt Douglas, How brands become icons: The principles of cultural branding,
Harvard Business Press, 2014.

Page | 35