P Adityaram, Chairman, Adityaram Properties Pvt Ltd, has scaled great heights within a short span of time. Today, his Chennai-based real estate company is a reputed name in the sector. He has proved his mettle in the industry through his persistence and unwavering focus on his business goals.
The initial years
Mr Adityaram entered the realty market when the commercial realty segment was on the cusp of a boom. The growth of India's middle class, expansion of organised retail, increasing demand for commercial spaces and easy availability of finance were the key growth drivers of this sector.
Be it the residential, commercial or hospitality segment, the real estate sector was witnessing a boom and offered a lucrative opportunity for potential investors. In a bid to capitalise on this market opportunity, Mr Adityaram decided to venture into the realty sector after completing his Chartered Engineering in 1991.
After a brief stint with a private construction firm, he incepted his own real estate company in 1994.
Despite the numerous possibilities in the realty segment in India, Mr Adityaram’s company had to struggle in the initial years to carve a niche for itself. Issues like poor infrastructure facilities and lack of financial support were some of the major hurdles that Mr Adityaram had to overcome.
He started his business in Chennai with a meagre amount and had to face crippling problems like cash crunch and lack of a skilled workforce in the first few months. Mr Adityaram had to intelligently re-engineer his business processes to register profitable margins.
Though his earlier projects were based in and around Chennai, his company subsequently got involved with a multipurpose commercial building project in Hyderabad. Later, he took up another residential project of 55 acres in Egattur, in Tiruvallur district of Tamil Nadu, thus venturing into the southern part of India.
“Running a one-person business is extremely difficult at times, but if one is driven by incredible optimism and strong determination, it is absolutely achievable,” says Mr Adityaram, who is now at the helm of a flourishing construction business.
His Chartered Engineering background, coupled with his hands-on experience in the business, has helped him significantly in all his projects. He strongly believes that business consolidation is often triggered by the stakeholders of the company. It is therefore extremely important to earn and retain their confidence in the company.
A leader with sharp business acumen, he feels that cultivating long term relationships with clients can help diversify his business further.
The road ahead
Even though it has become difficult to draw property buyers in the current economic scenario, Mr Adityaram is optimistic about his company’s prospects. Although a majority of realty players in India have been hit by the global recession, he states that none of his company’s upcoming projects have been impacted by the same.
He is currently developing a residential township in Chennai, covering an area of 2.2 million sq ft and a shopping mall in Greater Chennai that will be spread over an area of almost 2 million sq ft.
He is confident that the sinking realty market will soon regain momentum and return to its old profitable ways.