SERVICE QUALITY ANALYSIS OF REAL ESTATE DEVELOPERS IN BANGALORE

submitted by SONAMON PATRA (1020354) SECTION- D CHRIST UNIVERSITY INSTITUTE OF MANAGEMENT KENGERI CAMPUS, BANGLORE

under the guidance of Prof. UMA SHARMA CHRIST UNIVERSITY INSTITUTE OF MANAGEMENT KENGERI CAMPUS, BANGLORE
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PREFACE

If the human race wishes to have a prolonged and indefinite period of material prosperity, they have only got to behave in a peaceful and helpful way toward one another." -Winston Churchill. The heresy of typical Indians has changed the orthodox mindset of building and designing a house to live in it. A ramification of this is that houses are nowadays counted as a transitory asset. The idea of buying a house that will last a lifetime has gradually vanished. The buzzword nowadays is 'investment'. Both the policymakers and the stockbrokers share an united view in this aspect(although moved by different intentions). 'The growth in the real sector is not unreal' said S.K.Jain, President Global Infocom. In this study we make an attempt to vivisect the real and unreal components in this eye-catching sector. THE REAL ESTATE BOOM: A GENUINE EUPHORIA Indian real sector has seen an unprecedented boom in the last few years. This was ignited and fueled by two main forces. First, the expanding industrial sector has created a surge in demand for office-buildings and dwellings. The industrial sector grew at the rate of 10.8 percent in 2006-07 out of which a growth of 11.8 percent was seen by the manufacturing sector. Second, the liberalization policies of government have decreased the need for permissions and licenses before taking up mega construction projects. Opening the doors to foreign investments is a further step in this direction. The government has allowed FDI in the real estate sector since 2002. FDI was deemed necessary in the view of making the sector more organized and increasing professionalism farmers. The villages adjacent to the metro cities have experienced sky-rocketing land prices. This has induced farmers to sell their land for good money. The real estate market in India is yet in a nascent stage and the scope is simply unlimited. It does not resemble a bubble that will burst. An unhindered growth for the next twenty years is almost sure. This is because the outsourcing business in India is going in great guns and this entails a huge demand for commercial buildings and urban housing besides improvement in infrastructure. According to former Planing Commission Advisor Tarun Das, a price index for the housing market to track price movement must be incorporated. The government must ensure that there is no shortage of funds. Sebi's (Securities Exchange Board of India) recent harbinger of permitting real estate mutual funds in both private and public sector will go a long way in attracting funds from small investors who emphasize on certain return. Another impediment that can be eased on the discretion of government is the existing tax laws and other complex regulations relating to multidimensional real estates such as industrial parks and SEZs(Special Economic Zone). The report is on analyzing the service offered by real estate developers in Bangalore, Karnataka. Real estate industry is indulged in construction of both residential and commercial projects. Extension of fiscal sops for SEZ upto 2014 has increased the demand for built-to-suit (BTS) and STPI projects. The city employs 528000 people in IT sector and biotech sector is growing at an average of 35% annually employing 26,000 people. Other sector which is increasing demand for commercial buildings are banking, financial services, manufacturing and industrial services, telecom and pharmaceuticals. Rental are stable as of now and developers are revising their quotes. But rental is up by 2-3% for select landmark buildings and property consultants foresee appreciation. There are different categories of builders and the analysis is done by comparing two premium level developers - Prestige group and Sobha Developers.

INDEX

SL. NO. 1 2 3 4 5 6 7 8 9

TOPIC Introduction 7PS of Real estate service marketing Prestige Group Sobha Developers Comparison of Prestige group and Sobha Developers Methodology of Data Collection Conclusion Learning Bibliography

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INTRODUCTION

SERVICE Service is an economic activity offered by one party to another, most commonly employing timebased performances to bring about desired results in recipients themselves or in objects or other assets for which purchasers have responsibility. Indian real estate sector, which comes under service sector in Indian Economy ,was estimated to be around US $16 billion during 2006 and has been growing at a CAGR of 30% for the last few years and was expected to reach US$60 billion by 2010. Share of foreign investments have increased. The market is driven by buoyant economy, flourishing IT/ITes sector, financial and banking sector. The real estate sector is a cluster of industrial and service sectors like real estate , brokerage services, real estate financial services, property management. FEATURES OF REAL ESTATE SERVICE SECTOR: 1. 2. Intangible elements usually dominate value creation Physical evidence like builders office, sample project models, etc make a big contribution to value creation of this industry. Customers involved in co-production Customers interact with builders personnel, equipment, facilities to communicate their needs and specifications. Some of the features of the property come by default and some are tailor-made as per the customers need. People are part of service experience - Appearance, attitude and behavior of builders personnel and other customers shape the service experience. So, training and rewarding employees who showcase right attitude is prevalent in this industry. Time factor Customer sees time as a scarce resource to be spent wisely, wants service at time that are convenient for them.

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SWOT ANALYSIS OF REAL ESTATE SECTOR IN INDIA: STRENGTHy y y y Employement and training opportunities in real estate sector. Private sector housing boom and commercial building demands. Construction of multi building projects on feasible or SEZ places in India. Good structured network facilitates the industry. WEAKNESSChances of natural disadvantage. Changing skill requirement due to rapid changes in technology. External allocation of large contracts becomes difficult. Huge amount of money is to be invested in this industry. OPPORTUNITIESContinuous private sector booming will create more opportunities for the industry. 4

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Public sector projects through public-private partnerships. More flexible training modules are available. Renewable energy projects will provide more opportunities for the industry. THREATSPolitical and legal conditions in a region and Legislative measures. Lack of political willingness and support to promote the business. Natural abnormal calamities like earthquake and floods are uncertain.

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FACTORS AFFECTING REAL ESTATE INDUSTRY: 1. Urbanization - Indias urban population has grew from the 290 million reported in 2001 census to an estimated 340 million in 2008. It is projected to be 590 million by 2030. Urban economy will provide 85% of tax revenue. which will finance development nationwide. High disposable income of Indians Easy and convenient availability of Home Loans by various private banks and public banks.

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REAL ESTATE DEVELOPERS SCENARIO IN BANGALORE FACTORS AFFECTING REAL ESTATE INDUSTRY IN BANGALORE: y COMMERCIAL PROJECTSWith the revival of Bangalore office market, year-end absorption is likely to touch 8 million sq ft, which is the largest office absorption recorded in any city. A significant development in the surge in demand for SEZ premises especially when the fiscal soaps were extended upto the year 2014.The outer ring road, which houses a number of SEZs, may witness supply level of 1.2 million sq ft by next year. Additional areas are also likely to come up. A number of corpoates are signing for Built-tosuit (BTS) premises who have long-term plan and keen to shift in SEZ premises. As of now, SEZ premises are possible on Outer Ring road, Whitefield, Mysore raod and North Bangalore due to availability of large land parcels. Another trend is the growing preference for LEED rated green buildings due to inherent cost and operational advantages for occupiers in the long run. y RESIDENTIAL PROJECTSWith high job opportunities in Bangalore city, aspiring professionals are relocating to Bangalore city, which affects the demand for residential projects construction in the city. Urbanization is increasing at a rapid rate which also causes increase in demand for residential projects.

Some of the top Real Estate developers and Builders in Bangalore are as follows:

PRESTIGE GROUP Beginning with a retail store and growing to become one of the most trusted names in real estate- the Prestige Group has come a long way. Way back in 1956, Mr. Razack Sattar - A visionary who glimpsed what others would comprehend many years later and the founder of what is today the Prestige Group of Companies. What started with custom tailoring and retailing ready-to-wear garments, the company today scores skylines with innumerable impressive constructions. A success story truly made possible by the founder's progeny - Irfan, Rezwan, Noaman and Anjum, the group has been groomed into great leaders who continue to uphold the Prestige vision. Spreading the Falcon's wings; Prestige today is considered the No.1 realty developer in Karnataka with over 120 developments completed, encompassing more than 10 million sq.ft. of commercial and residential area. Their prestigious project includes the Forum mall and in the pipeline is UB city, Shantiniketan, etc. Prestige Group Prestige Estates Projects Pvt. Ltd. The Falcon House, No. 1, Main Guard Cross Road, Bangalore - 560 001. Tel: +91-80-25591080 Fax: +91-80-25591945 E-mail: properties@vsnl.co URL: www.prestigeconstructions.com

ADARSH GROUP Adarsh Group was started in the year 1988 by Mr. B M Jayeshankar, a civil engineer. Since its inception Adarsh has been developing Residential and Commercial properties in Bangalore, consistently delivering Quality on all parameters, offering Apartments, Independent Villas, Office and Retail Spaces, Software Tech Parks and more. The residential projects which include Adarsh Palace, Adarsh Gardens, Adarsh Residency, Adarsh Hill, Adarsh Vihar, Adarsh Nivas, Adarsh Nest, Palm Meadows, etc. have incomparable value. The Adarsh Palace at Jayanagar won the "Best maintained Building and Garden" from the Bangalore Urban Arts Commission. Contact: 10, Vittal Mallya Road, Bangalore - 560 001, INDIA. Tel: +91-80-4134 3300 (30 lines) Fax: +91-80-2221 8565 6

E-mail: marketing@adarshdevelopers.com URL: www.adarshdevelopers.com

PURAVANKARA GROUP The Puravankara Group was established in 1975, in response to the growing need for quality housing and commercial space in the metropolitan cities of India. An ISO 9001 certified company since 1998, the Puravankara Group had began its operations in Mumbai, the commercial capital of India and has not looked back since. In the year 1987, the Group has widened its area of operations taking Bangalore into its fold. Puravankara Group had the distinction of being awarded the Finaliste, International Prix d' Excellence - 1998 for its project "Purva Park" in Bangalore. This was in the group residential category, by FIABCI, Paris, which is the International Federation of Real Estate. Contact: Puravankara Projects Limited 130/1, Ulsoor Road Bangalore - 560 042, INDIA. Tel: +91-80-2559 9000 Fax: +91-80-2559 9350 E-mail: sales@puravankara.com URL: www.puravankara.com

BRIGADE GROUP Brigade Group established in 1986, operates out of spacious modern offices, located at Brigade Towers on Brigade Road, in the heart of the city. Over the years they have constructed luxury apartments, residential enclaves' modern offices, showrooms, state-of-the-art software facilities and a multi-storey industrial complex and have progressively introduced value-enhancing features to their buildings. These features include advanced fire and security protection systems and technology like the Integrated Building Monitoring and Security System, which centrally monitors all building functions and systems which enable to increase building efficiency and ensure the continual comfort of its residents. They were also one of the first to incorporate eco-friendly measures like rainwater harvesting and waste recycling systems into their projects. The Brigade Group is the first property developer in South India to receive the internationally recognized ISO 9001-2000 Quality Assurance Certification. Brigade Metropolis at Whitefield Road and Brigade Gateway at Malleswaram-Rajajinagar which are self-contained, integrated enclaves are few among their undergoing projects.

Contact: Hulkul Brigade Centre, 82, Lavelle Road (next to Bangalore Club), Bangalore 560 001 INDIA Tel : 91-80-4137 9200 Fax : 91-80- 4137 9320 E-mail: enquiry@brigadegroup.com URL: www.brigadegroup.com

SOBHA DEVELOPERS Sobha Developers Pvt. Ltd. was established in 1994 in Bangalore under the Chairmanship of PNC MENON. Having successfully created a niche as preferred building partners for some of the global corporate clients they have been the Benchmark builder with complete backward integration and is growing in all facets of industry. They are primarily semi luxury and luxury residential developers and have maintained the quality at par with international norms with all facilities in-house namely interiors, metal glazing, design studio, a concrete block making factory, construction academy amongst others. Sobha Developers enjoys a high degree of acceptance through the guiding principles of quality, timely delivery, fair price and integrity. Apart from being the first ISO 9001 (1994 series) company in its category in India, also been awarded the ISO 9001 (2000 series) for adhering to global standards in quality. Sobha Pearl, Sobha Alexander, Sobha Coral, Sobha Emerald I, Sobha Jade, Sobha Garnet are few among their constructed projects and few of their ongoing projects include Sobha Aquamarine, Sobha Aster, Sobha Dahlia, Sobha Daffodil, Sobha Dreams I, Sobha Emerald II, Sobha Jasmine, Sobha Magnelia and Sobha Primrose.

Contact: E-106, Sunrise Chambers, 22 Ulsoor Road, Bangalore - 560 042, INDIA. Tel: +91-80-2559 7260, 2559 4139 Fax: +91-80-2559 4138 E-mail: sdplsrc@sobha.co.in URL: www.sobhadevelopers.com
MANTRI GROUP Mantri's experience and professionalism gained over the years in stock broking, leasing, financing and automobile forging is breaking grounds into the construction business. With over 80 completed projects, over 80 lakh sq. ft. of built area, over 10,000 satisfied customers including 1200 NRIs. They yet treat each new project as if it were to be their first, and each new customer with the enthusiasm of a beginner. It is this quality that has enabled Mantri's delight their customers then just satisfying.

Their homes boast of excellent amenities and facilities and not to forget, the tranquil setting amidst the city. Built on a wealth of experience, earning an excellent reputation for elegantly designed and crafted developments of high quality homes, Mantri provides new home buyers a quick and easy access to the most comprehensive database of new home developments on the web. With quality as their forte, and customer delight as goal, the Mantri's have created over 750 masterpieces in Pune, Solapur, Mumbai, Kalyan, Delhi and Bangalore. Classic, Elite, Altius, Rhythm, Greens, Aquatica, Sarovar are Mantri's current projects They also take the privilege of winning the Seventh annual concrete cube strength competition- ACC award in 1998, Sixth annual concrete cube testing competition in 1998 Project of the year 2001 Bangalore - Mantri Woodlands and many more in list.

Contact: Mantri House # 41, Vittal Mallya Road, Bangalore - 560 001, India. Ph: +91-80-4130 0000 (20 lines). Fax: +91-80-4132 5000. E-mail: homes@mantri.info
Url: www.mantri.info

7 PS OF REAL ESTATE SERVICE MARKETING

1. 2. PRODUCT Service products consist of core product that responds to the customers primary need and an array of supplementary service elements that help customers to use the core product effectively. PLACE Speed and convenience of place and time is an important determinant of effective service industry. Builder firms deliver service directly to end users through continous communication and providing the product as oer the customers specification. PRICE Price in real estate depends on the location and the future prospectus of the location. High prospectus is determined by future industrial development in the region. Some of the sample residential Property pricing in Bangalore is as follows: SL.NO. 1 2 3 4 5 PLACE Domlur Jaymahal Extension Rajaji Nagar Outer Ring Road- Sarjapur Sanjay Nagar PRICE IN Rs. Per SQFT 3500 4500 8000 12000 3000 4000 3000 4500 3500 - 4500

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Source : Economic Times, ET Realty 4. PROMOTION Promotion means communicating the offerings to the target customer. It provides needed information and advice, persuading target customers of the merits of a specific service and encouraging the customer to take action at specific time. In real estate industry, much of the communication is educational in nature, especially for new customers. PROCESS Process means the quality standards adopted, ethics followed by the fim in construction of the buildings. Creating and delivering product elements requires design and implementation of effective processes. PHYSICAL ENVIORNMENT Appearance of the buildings, landscaping, interior furnishing, equipment, staff members uniforms, signs, printed materials are visible cues all provide as tangible evidence of a firms service quality. PEOPLE Service personnel i.e employees of the firm , their attitude and behavior with customers influence the decision making of the customer.

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PRESTIGE GROUP
The Prestige Group owes its origin to Mr. Razack Sattar, who envisioned a success story waiting to take shape in the retail business in 1956 itself. Prestige Estates and Properties was setup in 1985 growing swiftly to become the leading property developers in Bangalore. Prestige Court on K.H. Road in Bangalore set the pace and with over 184 developments covering 20 million sq ft of built area to its credit, Prestige constructions now house a very large populace residing in South India. Also, Prestige hosts some of the biggest MNCs in business here with residential and commercial developments on the cards approximating 13 million sq. ft. just in area. A presence in the retail sector with multiplexes and malls, Prestige has built for itself a name in property development. Over the years, it has created a distinctive mark on the skyline of Bangalore and its people, as a leading real estate developer. The trailblazing success of the business can be attributed to Prestige's corporate philosophy of "under promise and over deliver. This quest for perfection and excellence has resulted in the present day Rs.1000 Crore conglomerate. Prestige, a ISO 9001:2000 certified company, has the added laurels of being the only builders to get a reaffirmation of the Crisil DA1 rating whose software and residential facilities have won the reputed FIABCI award in Bangalore.

OPERATIONS-

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Business is divided into two main segments: y Real Estate Development Business, Which is the principal business focuses on real estate development projects in the residential (including plotted developments), commertial (including built-to-suit developments), hospitality and retail segments of the real estate industry. In addition, we generate revenues from leasing commercial, hospitality and retail space; and Real Estate Services Business, which focuses on property management services for our real estate developments, sub-leasing and fit-out services, project and construction management services and mall management and facilities management (including the operation of our hospitality business) services.

Vision To continuously exceed the expectations of our customers and employees and become a benchmark for quality in every field the Prestige Group ventures into.

Mission To improve customer experiences through constant innovation and understanding, with a focus on quality and transparency of processes so that when it comes to Prestige, customers come to expect nothing but the best from us. Passion Passion is our strongest motivator. We are alert to new ideas, eager to learn more and positive towards setbacks. We are driven to break barriers and set new benchmarks. Passion pushes us to explore possibilities so we can give our customers more than they expect. Out of the Box Thinking If there is an innovative way of doing something, we will find it. We are about finding newer ways of setting benchmarks. We approach every task ahead of us with an attitude of never say never. Transparency With Prestige, there are no asterisks tucked away in our communication, no hidden clauses in our legal documents, and absolutely no shades of grey in our business processes. Quality Our focus on quality borders on the obsessive. At Prestige, it's not just a catchphrase, but a way of life. And so we dedicate every minute in the pursuit of it, stopping short of nothing to ensure it reflects in all we do.

Towards Greener Pasture As a group with the wisdom of years of experience, we understand how the skyline of a city can reflect on its economic well being. We also understand that we have a responsibility to give back to the society that has helped shape us into what we are today. That's why we are committed to giving our best to the environment we operate in. Without compromise.

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Flying High y y y y y y Providing a broad spectrum of integrated solutions Meeting and exceeding customer needs and expectations Adopting the latest technologies to deliver state-of-the-art developments with great care and detailing Ensuring conservation and development of eco-friendly developments Making continuous improvement in all areas of activity based on customer inputs in order to improve customer satisfaction Contributing to the welfare of society QUALITY POLICY Our motto is Quality, Commitment and Performance. The Scope of Quality System is Planning, development, marketing and management of residential, commercial and Institutional layouts. Prestige follows a Quality Management System hierarchy that is strictly abided by in all its residential and commercial properties in Bangalore and elsewhere. This system includes departmental guidelines and work instructions as well as essential directions for the quality management system from the top management, covering all requirements of ISO 9001:2000. We ensure that wastage during construction is as low as 5%, thus providing optimum value for the client's money whether it is a commercial property investment or an individual who wants to buy an apartment or villa. We adopt latest technologies for safer, timely and reliable construction across all our properties in Bangalore and in other cities, giving you the best bet when you buy an apartment. Prestige encourages customer feedback and reviews so that corrective actions can immediately be put in place. Quality standards and procedures are periodically reviewed so as to maintain continuous improvement in all areas of activities based on customer inputs to enhance customer satisfaction. Aim is not restricted to being among the best Bangalore builders or in the country alone but also to be as environment friendly as possible. We address environmental safeguards and improvements in all our developments for the conservation and development of a greener and safer environment.

CORPORATE SOCIAL RESPONSIBILITY

Great achievements bring greater responsibilities, and at Prestige that's a reality .This understanding translates into Corporate Social Responsibility (CSR) initiatives. Prestige takes its responsibilities as a Corporate Citizen very seriously. Through the Akshaya Patra programme, Prestige has adopted 568 school children of the Govt Urdu School at DJ Halli, Bangalore, to provide them hygienically cooked midday meals daily. The Akshaya Patra Foundation provides these meals through their efficient distribution system to over 5 lakh schoolchildren every day with the support of the Government of Karnataka and a large number of donors. 13

Prestige has also partnered the Public Works Department and Bruhat Bengaluru Mahanagara Palike (BBMP), to improve the condition of Bangalore's roads. Most recently, Prestige was involved in the upgradation of Vittal Mallya Road, Bangalore

Prestige has also been involved in the building of a 10 km stretch of road in Whitefield, Bangalore and the beautification of a section of Hosur Road, in Bangalore (in association with the Bangalore Agenda Task Force). They have also put up street furniture, bins, paved sidewalks and landscaping in that stretch. In fact, similar work done by us on the old Airport Exit Road has won us, one of the best gardens awards at the Republic Day Horticultural Show at Bangalore. Prestige has also partnered with St. John's Hospital, Bangalore for their Vision 20-20 programme and donated vision testing equipment for use in mobile eye camps conducted in rural areas. The Prestige Foundation is a charitable trust founded to provide socio economic relief and education to the poor. Prestige, in association with the Rotary Club, also presents the annual Citizen Extraordinaire Award to citizens of Bangalore who have made exemplary contributions to its overall growth. Previous recipients of the award include Sri Nandan Nilekani and Sri SM Krishna among others. The Educate India Trust was established, with the Promoters of Prestige participating as Trustees, to advance and promote learning and education. The Trust is currently engaged in the operations of Inventure Academy, a Bangalore based day school. y Inventure Academy is distinguished by its focus on providing education that stimulates children to use their multiple faculties and think in connected ways, thus better preparing them for success in a globalised environment.

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PROJECTS
1. Residential -Villas, Luxury Developments, Apartments, Plotted Developments, Townships, Gated Communities

Completed y y y y y Prestige Oak Wood, Koramangala Prestige Chalet, Aga Abbas Ali Road Prestige Royal Manor, Cunningham Road Prestige Lyndhurst, Walton Road Prestige Marrakesh, St.Mark's Road Ongoing y y y y y y y Prestige Silverdale, Sarjapur Road Prestige Neptune's Courtyard, Marine Drive, Kanayanur, Cochin Prestige Southridge, Banshankri, Bangalore Prestige Oasis, Doddaballapur Road, Bangalore Prestige Shantiniketan, Whitefield Prestige Golfshire (Villas), Nandi Hills, Bangalore Prestige Ashcroft, Lavelle Road Upcoming y y y y y y Prestige White Meadows, Whitefield Prestige Royal Woods, Kismatpur, Hyderabad, Andhra Pradesh Jacobs Land, Bellary Road, Bangalore Village De Nandi, Nandi Hills Road K2, Vittal Mallya Road, Bangalore Prestige Silver Oak, Whitefield Commercial-Corporate Offices, Campuses, IT, SEZs

Completed y y y y y y y y y y y Prestige Court, K H Road Prestige Copper Arch, Infantry Road House of Lords, St.Mark's Road Fifth Avenue, Brigade Road Prestige Centre Point, Cunningham Road Prestige Terminus - I, Airport Exit Road Prestige Hosto Chambers, Sheshadripuram Prestige Infantry Court, Infantry Road Prestige Maini Sadan, Lavelle Road UB Plaza, Vittal Mallya Road Concorde Motors, Hosur Road

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Ongoing y y y Prestige Atrium, Central Street, Bangalore Prestige Shantiniketan, Whitefield, Bangalore Prestige Cessna Business Park (Phase B5 to B11), Outer Ring Road, Bangalore

Upcoming y y y Prestige Valdel Outer Ring Road, Marthahalli KRPL Tech Park Metagalli, Mysore Graphite, Export Promotion and Industrial Park Zone, Whitefield, Bangalore

Leisure & Hospitality- Resorts , Hotels & Serviced Residences

Prestige Leisure Resorts (P) Ltd. Prestige Leisure Resorts Private Limited, a part of the Prestige Group leads the foray of the Group into hospitality and setting up resorts, Health Spas, Hotels, and Food Lounges of international standards.

Angsana Oasis Spa & ResortThe Angsana Oasis Spa & Resort managed by Banyan Tree Hotel & Resorts Singapore, strikes a balance of rustic beauty and modern conveniences. All 79 Rooms and Suites are provided with the most modern amenities. There are a range of rooms on offer like the Angsana Suite, two-bedroom and one-bedroom suites and an Executive Resort Room as well as a Presidential Suite which comes with its own swimming pool!!! All suites come with kitchenettes. Dining options include "Sundance Bistro" - All day Dining Restaurant, "Tangerine" - the contemporary multi cuisine restaurant, offering a select variety of Indian cuisine, the Aquamarine Deck - exclusive venue for private functions by the poolside and Mirage the Lounge bar.

Oakwood Premier Prestige, Bangalore, Fully Serviced Residences

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Oakwood Premier Prestige, Bangalore, Fully Serviced Residences at UB City, Oakwood Premier Prestige, Bangalore offers guests the very best in contemporary amenities including an exclusive resident's lounge, signature rooftop swimming pool, helipad, state-of-the-art health club and gym, all modern day amenities and 24 hour security, concierge, room service and a fully equipped business centre. There is a choice of studio, one, two and three bedroom residences. Each is fully accoutered with every amenity demanded by a globalized, chic lifestyle, including, among others, a high speed Internet connection, LCD TVs, fully equipped kitchens, washing machines &dryers.

Completed y y y y Angsana Oasis Spa & Resort, Doddaballapur Road, Bangalore Angsana oasis Spa at Ozone, Whitefield, Bangalore Angsana Oasis Spa at UB City, UB City, Bangalore Oakwood Premiere Prestige Serviced Residences, UB City, Bangalore Ongoing y y y y y Aloft Bengaluru Cessna Business Park, Marthahalli, Bangalore Starwood Asia Pacific Hotels & Resorts Hilton Ulsoor, Bangalore Prestige Golfshire (Clubhouse & Spa), Nandi Hills, Bangalore Forum Value Mall Services Apartments, Whitefield, Bangalore

Retail

The Forum The Forum, one of the largest shopping malls in the country is a 650,000 sq. ft. shopping paradise in Bangalore offering global labels, food courts, multiplex amongst other things. Here's the extended footprint of 'the forum experience' at 7 new locations across 4 cities in South India including Chennai, Hyderabad, Kochi and Mangalore.

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The Collection @ UB City UB City is right in the heart of Bangalore's Central Business District and will soon be the city's biggest landmark for luxury retail with brands from all over the world.

Forum Value Mall A one-stop-mall for companies that either had factory outlets in the city or were planning a move in that direction - the basic promise 'good brands, good value and good pricing' - which the label conscious , price sensitive shopper is looking for these days. The Forum Value Mall has wide open interiors, a lot of breathing space and a spacious footprint for each brand with a high-visibility. Not just that, it has food court, specialty food outlets, gaming / entertainment and well planned traffic generators.

Completed y y y Forum Mall Koramangala, Bangalore The Collection @ UB City, UB City, Bangalore Forum Value Mall, Whitefield Ongoing y Forum Shantiniketan Mall, Whitefield, Bangalore Upcoming y Graphite Property Development, Whitefield, Bangalore

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SERVICES: y Property Management & Maintenance-

Prestige has always been committed to give its customers the best value and service. It is in line with this philosophy that Prestige Property Management and Services (PPMS) was set up in 1996, to provide high quality maintenance and post construction care for all Prestige projects. The Prestige Group, in fact, can be credited to be the first builder in India to come up with a dedicated division specially assigned for post construction care. y Maintenance and Post Construction Care

The objective for Property Management is to provide world class support and maintenance services for Prestige properties. The 950 strong Property Management team consists of highly skilled workers who are specially trained to maintain the impeccable standards that are the hallmark of all Prestige developments. The services offered can be customised to meet the varying needs of the diverse range of developments that Prestige creates - be it a high rise commercial complex housing big MNCs, residential apartments with beautifully landscaped grounds, sprawling luxurious villas or shopping malls of international standards.. We have worked with several residential customers to develop a transparent maintenance model that gives them a better understanding of property maintenance and enables them to manage costs. In terms of commercial investors, we have helped them to periodically assess the property and address issues that creep up with age. y Award Winning Landscapes-

The breathtaking landscapes that are an inevitable feature of all Prestige properties are living examples of the excellence of the Prestige Property Management team. These garden scrapes are regular winners of top honours at various horticultural shows, giving further evidence of the high standards that the team work to. y Home Kit

Every home is a reflection of the people who live in it. Common to all its properties in Bangalore, Prestige offers you these simple yet creative ideas to make your dwelling more unique- whether it is an apartment, villa or penthouse. Theme based interior decors, innovative lighting ideas, well arranged flora, all accentuate an apartment or villa's features.

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AWARDS
y y y y y y Prestige Group wins CNBC Asia Pacific Property Awards 2008 in 6 competitive categories. Director-Corporate Communications, Ms. Uzma Irfan accepted the awards on behalf of the company At The Real Estate Excellence Awards - 2008, Prestige won the Best Retail Project award and Mr. Irfan Razack was declared Real Estate Professional of the Year The Prestige Group is now a member of the International Real Estate Federation (FIABCI) Mr. Rezwan Razack won the Economic Times ACETECH 2007 award for his professional ethics, achievements and rare contribution in the field of construction and environmentally friendly architecture UB City won the Best Developer award in the Mixed Use category at the Cityscape Real Estate Awards in 2007 for being the best among commercial properties in Bangalore One of the most famous of commercial properties in Bangalore, The Forum, was rated the Best Mall in the country at the Real Estate Excellence Awards in 2007 and Most Admired Shopping Centre of the Year: Retailers Choice at ISCA 2008 Prestige won the Euro Money Award for excellence in real estate in 2005 The Mysore Horticultural Society awarded the UB rolling trophy for Best Ornamental Garden in 2004 to Mr. Razack's residential garden as well as an unprecedented 42 awards in other categories The Bangalore Urban Arts Commission conferred the 'Best Garden Award' on Prestige Elgin, The Retreat and Prestige Four Seasons- the best homes in Bangalore The Accommodation Times, Mumbai, named Prestige Meridian as the 'Best Building of the Year' CRISIL reaffirmed their faith in Prestige by awarding them the CRISIL DA1 Excellence Rating the second year in a row in 2004

y y y y y

Prestige Property Management & Services Category Mysore Horticulatural Society Award Certificate

CW Architect & Builder Awards 2010

Prestige Commercia l Category Commercial Master Builder Award 2010

Prestige Entreprenue Category Entreprenue Extraordinaire Award 2010

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Prestige Entreprenue Category Mr.Razack was felicitated with Entreprenue Extraordinaire Award 2010 CRISIL RATINGA prominent name in India's real estate business, the Prestige Group has consistently received a CRISIL rating of DA1- the highest rating assigned to a real estate developer. Prestige is the first among Bangalore builders to have received a DA1 rating from CIRISIL. The rating is based on the company's below mentioned strengths: y y y y y Excellent track record in Bangalore real estate development Experienced and professional management Strong customer focus and marketing strategies Strong development and project execution capabilities Comfortable financial position & financial flexibility Furthermore, Prestige's ISO 9001 certification ensures standardization of processes and maintenance of quality standards in its properties in Bangalore and elsewhere. So, whether it is a decision to buy a home or that of a commercial property investment in Bangalore or otherwise, Prestige is one name you can trust unquestioningly

WHATS NEW! Prestige Shantiniketan at Bengaluru follows the above mantra and provides a holistic real estate experience. Spread across 108 acres of land the township consist of 3.6 million square feet of commercial office Space, more than 3000 apartments.

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SOBHA DEVELOPERS

SOBHA spearheading a revolution in Real Estate in India y y y y Over a decade of quality focused best practices for building world class products have helped us enhance quality of life and delight customers. Over a decade of engineering excellence and unique initiative towards Backward Integration that has helped us control costs, and deliver on time, every time. Over a decade of passion in every detail of work, at every level, driving continuous innovation; has resulted in making Sobha a preferred real-estate brand in India. Over a decade of rock-solid values, uncompromising business ethos, and transparency in all transactions; have contributed to our earning the trust of all our stakeholders.

It was in the year 1995 that Mr. P N C Menon founded Sobha developers with the clear vision to "transform the way people perceive quality" in the real estate industry returned home from the Middle east where he was acclaimed for quality interiors and construction since 1977. His intuition and business sense buttressed with the exhilaration of returning to his homeland led him to believe that he could make Quality the key differentiator between his proposed venture and other construction companies. Today Sobha developers a Rs. 10 billion plus company is one of the largest and only backward integrated company in the construction arena. Since its inception Sobha's reputation is built on rock solid values, benchmark quality standards, uncompromising business ethos, focused customer centric approach in all spheres of conducting business, which have contributed in making Sobha a preferred real estate brand in both residential and commercial segments. This was emphatically endorsed during its IPO in 2006 when the issue was oversubscribed by 126 times that created history, being the first event of its kind in Indian capital markets. In the past 14 years since its inception, Sobha has completed 47 residential projects, 13 commercial projects and 166 contractual projects covering about 36 million sq. ft. area in 18 cities across India (as of 31 March 2010). The company currently has 21 ongoing residential projects aggregating to 8.5 million sq. ft., while 4.24 million sq. ft. of contractual projects are under various stages of construction. On an average, Sobha has constantly executed about 6 million sq. ft. of work on an average basis over the last 5 years. In the current year, which will be the 15th year of establishment, Sobha Developers are inching towards the execution of the 50th million sq. ft., which will be a landmark in the real estate industry. Client list includes stalwarts like Infosys Technologies, Hewlett Packard, dell, the Taj Group, Mico, Timken and others. Residential projects include premium apartments, villas and row houses with amenities like club houses, shopping centers and swimming pools as a value addition to the Sobha lifestyle that the company brings home to all its clients.

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VISION Transform the way people perceive 'Quality'

MISSION No Short Cuts to Quality

PHILOSOPHY Passion at Work

Backward integration is what drives the organizations turnkey projects. In a turnkey scenario, we bring the expertise of all our Divisions to focus on every aspect of the project. In simple words, everything from precision engineering to aesthetic design, from quality metal glazing to high-class interiors is done inhouse. This allows for stringent focus on quality control - which in turn gives our customers a fine combination of precision and aesthetics. The Infosys centers in Bangalore, Mysore and several other cities are fine examples of the Group's synergy in turnkey construction

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PROJECTS
COMMERCIAL PROJECTSTotal quality control over material and on time delivery is achieved through backward integration. Excellent asthetic, functional interior and exteriors. Stringent adherence to safety standards and onsite cleanliness. y y y Taj Residency, ITPL Infosys Indoor Badminton Court, Hyderabad Multiplex Theater, Mysore

MANPOWER STRENGTH As of March 31, 2010, there are approximately 1885 permanent employees.

Employee strength has increased consistently over the years. From about 900 employees in 2004, and around 1500 in 2005, today we have about 2,619 employees. And, along with a buffer team for contingencies, were strong enough to meet the growing demands of the real estate market and efficiently meet emerging challenges.

CORPORATE SOCIAL RESPONSIBILITY Corporate Social Responsibility (CSR) takes on a whole new meaning at Sobha Developers, a company that distinguishes itself by not just being among the largest but also the only backward integrated real estate player in the country. Sobha Developers launched Graamasobha, a unique social developmental initiative for Vadakkenchery & Kizhakkenchery grama panchayaths in Palakkad district of Kerala in the year 2006. Sobha Academy has been created to empower the rural poor to break away from the vicious circle of poverty, ignorance, deprivation and exclusion by providing their children the best of schooling possible anywhere in the world. Sobha Hermitage is the epitome of humanity, tendering love, care and support to the neglected segments of society - senior citizens as well as young widows and their children. Sobha Vocational Training Center (SVTC) has advanced resources and facilities and aims at providing functional vocational training and paid apprenticeship in carpentry and other trades to youth from

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COMPARISION OF PRESTIGE GROUP & SOBHA DEVELOPERS

SL NO. 1 2 Founder Vision Mr. Razack Sattar in 1985
To continuously exceed the expectations of our customers and employees and become a benchmark for quality in every field the Prestige Group ventures into.

FEATURES

PRESTIGE GROUP

SOBHA DEVELOPERS

Mr. P.N.C Menon in 1977 Transform the way people perceive 'Quality'

No Short Cuts to Quality 3 Mission

To improve customer experiences through constant innovation and understanding, with a focus on quality and transparency of processes so that when it comes to Prestige, customers come to expect nothing but the best from us.

4 5 6

Size Business Areas Quality policy

Approx Rs 1000 crores Residential, Commercial, retail, Service, Hospitality Follows Quality Management System and wastage during
construction is as low as 5%.

Approx Rs 10 billion Contractual, Commercial, Residential, Turnkey solutions

Quality Management System and implements GREEN concept in Building construction.

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METHODOLOGY FOR DATA COLLECTION

The data has been collected from various web sites. The surveys and research works present on those web sites have been done through various research design methods. The research designs used are:

y y y

Exploratory Research Descriptive research Causal Research

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CONCLUSION
With home loan interest rates easing out many borrowers are looking out for eminent residential projects. Various factors like Government regulations in FDI, numerous private players, public- private alliance, new agreements in real estate industry, rising consumer expectations, easier access to more information, etc have affected the sector. Different pricing strategies adopted by builders also influence the buyers decision making. During DIWALI season, Brigade group has offered a reduction in price of residential apartments by 5-7%. Capital values for apartments are up by 10% on the outskirts whereas in city areas it is up by 12%. The rise in prices is attributed to the sudden spurt in input and labor cost. Commercial project market is affected by extension in fiscal sops for SEZ up to 2014. A number of corporate are revising their strategy to ascertain the tax benefits of entering into SEZ premises.

LEARNING

y y y y

Features of Real estate industry 7Ps of Real estate service marketing Factors affecting Real estate industry Various developers & builders in Bangalore.

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BIBLIOGRAPHY y y y y y Economic Times Times of India www.sobhadevelopers.com www.prestigegroup.com www.bangalorebest.com

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