Mr. Vijay Kumar Jindal, Founder Director, SVP Group
, has done his graduation in Commerce from Punjab University. He came to Ghaziabad in 1984 and started his Business in cotton and paper manufacturing. After eight years of experience, he entered into construction business with Pelican (Banquet / Hotels) in Vikas Puri, Delhi. Then in 1996, he moved to Real Estate and established the SVP Group in 2000.
is a Rs 30bn real-estate development company, with its interest concentrated in the National Capital Region (NCR). SVP builders count amongst the market leaders for constructing residential and commercial spaces with 100% occupancy. In an attempt to contribute towards the development of society, SVP has also ventured into education and health services. SVP Group has so far accomplished 10 projects worth over US$30 mn. SVP Group's interest spans across residential and commercial spaces, education and hospitality industry verticals.
Replying to Yash Ved
, Vijay Kumar Jindal says “
The company has aggressively lined up expansion plans and has identified NCR and Rajasthan for spreading its reach in FY12.”
Brief us about your current and upcoming projects?
SVP Group has so far completed 10 residential and 1 commercial projects worth over US$30mn. SVP Group's interest spans across residential, commercial, education and hospitality verticals.
Some of residential projects include Krishna Vihar, Krishna Kunj, Krishna Appartments,
Krishna Residency, Krishna Enclave etc.
We then started with Gulmohur series with the completion of Gulmohur Enclave. Gulmohur Greens Phase I and Gulmohur Tower Phase I are ready for possession.
Rest Gulmohur Residency, Gulmohur Garden Phase I, Krishna Garden (Gulmohur Garden Phase II), Villa
Anandam are all expected to be completed by end 2012.
Recently, in Ghaziabad, our first organized complex - The Opulent mall has been delivered.
What kind of demand do you foresee for various segments?
According to the Cushman & Wackfield, about 60% of total estimated pan-India residential demand by 2014 is expected to be spread across India's top seven cities, with Tier I metropolitan cities like NCR and Mumbai expected to account for approximately 40% of total demand. The residential sector, which accounts for 75-80% of the turnover of the entire real estate sector, has been on a high growth path.
There is a shortage of 24.7 million houses in the country. At present, the private developers are focusing largely on the middle and upper segments of the market. Rising disposable income and the trend towards nuclear families are some of the factors driving the demand for residential real estate.
The pan-India office space demand over the next five years (2010–14) is estimated to be about 240 million sq.ft. of which the top three cities (namely Bengaluru, NCR and Mumbai) comprise 46% of the total demand, signifying their continued predominance. NCR is expected to note the highest cumulative demand of 32 million sq.ft.
The key driver of demand for office space in India remains the IT/ITeS sector, which accounts for about 75% of the total demand. In addition to the IT-ITES sector, Banking & Insurance, Biotechnology, and R&D are some of the other fields from where demand for office space is expected to come in future.
What is the total area under development?
The total area under development is 5mn sq ft.
When all projects will be commissioned?
Gulmohar Greens will be commissioned by Dec. 2011 while Gulmohar Gardens will be commissioned by June 2011.
Comment on your capex plans?
The company has aggressively lined up its expansion plans and has identified NCR and Rajasthan for spreading its reach in FY12. We are planning to raise the funds through internal accruals.
What is your take on the real estate market in India?
The real estate sector in India is on a high growth path. Several government initiatives have contributed to this high-growth environment. While the Indian real estate market is not as transparent and liquid as more mature markets, it is changing fast in response to the demands of MNCs and foreign investors. Residential properties maintain their growth momentum and hence are viewed as more promising than other sectors
What outlook do you see for the sector in the next two years?
The Indian real estate has the advantages of strong domestic demand and a track record for higher resilience than most developed countries. With property boom spreading in all directions, real estate in India is scaling new heights. This sector is today witnessing development in all area such as - residential, retail and commercial in metros of such as Mumbai, Delhi & NCR, Kolkata
By 2030, India will need up to 10 million new housing units. Rapid population growth, rising incomes, decreasing household sizes and a housing shortage of currently 20 million units will call for extensive residential construction. The financing of owner-occupied housing in particular holds out enormous market potential.