Arihant Superstructures Ltd, BSE listed company is in the construction and real estate business. Since its inception, the company has met real estate demands of the modern age by continuously delivering concrete pinnacles of spatial splendor. Having dared to foray into new geographical terrains, Arihant Superstructures has been able to capitalise on its first-mover advantage and is now becoming a pan-India company. With an uncompromising attitude in terms of quality control procedures, checks at all levels from building materials and construction methodologies to quality skilled manpower, the company has consistently aimed to create a benchmark in the real estate industry.
Mr. Ashok Chajjer, CMD, Arihant Superstructure Ltd speaks to New Media in an exclusive interview:
What is the range of services your company offers and how was the journey to reach to this level?
We are into Real Estate Development & Infrastructure Projects. I always aspired to become a leader and was committed towards achieving my goals. Our attitude towards developing and delivering products for the satisfaction of the people has given us a stable position & of course the relentless work by my team in supporting me..I started my journey with Textiles & then established an edible oil refinery in Jodhpur; Rajasthan in 1991.I started the real estate division in 1994 as a Real-estate Developer.
What is your outlook on the present economic scenario? Has it affected your business? If yes, how?
Globalization and decoupling cannot happen at the same time. Although India is one of the fastest growing economies of the world, it cannot decouple itself from the slowdown in US& Europe. However, the impact of the same will be nominal.
Also, with the continuous rise in interest rates, the cost of borrowing for the developers as well as customers has significantly gone up over the last 12-15 months.However, this phenomenon is across all the industries as the rate of interest on borrowings has increased across and is not just confined to real estate. As far as ASL is concerned, there is hardly any debt on the books, we are not under any pressure to serve huge interest as there is hardly any. Further in Real Estate, the demand will always be there for Right product at a Right price. As we are catering mostly to the affordable housing segment in the price range of Rs. 20 Lac – Rs.& 60-70 Lac where the demand is robust, the effect will be minimal.
Which are your Projects that are in progress ?
We have 11 ongoing projects as on date:
- Arihant Adita-Jodhpur (Raj)
- Arihant Ayati-Jodhpur(Raj)
- Arihant Agrima-Jodhpur(Raj)
- Arihant Amodini- Taloja,Nr. Kharghar
- Arihant Sparsh-Vashi
- Arihant Aura-Vashi
- Arihant Aksh-Badlapur
- Arihant Akriti-Badlapur
- Arihant Aradhana-Kharghar
- Arihant Sharan-Kharghar
- Arihant Abhilasha-Kharghar
We have heard you have started certain processes that will reduce labour cost. Can you explain it briefly?
We have decided to do all concrete work with weight batcher & pumps for better quality & reducing use of labor use. We have also adopted TABLA Technology from Canada to minimize the carpentry work.
Can we include your Company in SMEs? Please share the lessons one can learn from your business for the benefit of our new entrepreneurs. What are your plans for the coming year?
Yes. Be focused on your target audience. Design the product for them & configure projects according to their needs. We are planning to increase existing projects and square feet by 50% or more . Our target is to increase PAT by 200% on a year on year basis by expediting construction work.
Any advice you would like to share with people who want to start their own small business?
Don’t be in a hurry. Every project has a life cycle of 3 years or so to understand the business properly it will take at least 5 years just start with baby steps & run once you are confident it is not difficult.