As the Founder and Chairman of Hill Estates, a Mumbai-based real estate consultancy company, SN Chopra is known for his competent and proficient administration. Under his skillful guidance, the company has provided consultation and transactional services in the real estate sector that has not only added value to the property segment but also generated good return on investments (RoI).
Mr Chopra has always felt that in order to commence a new business it is highly important to have a tactful business strategy in place. He also felt that in order to start his business, it is necessary to chalk out the specialised needs of the market so as to focus on key points appropriately.
He was quick to identify that real estate was a booming sector and had immense potential for growth and development. It was a lucrative avenue for start-ups to invest in. Therefore, after completing his graduation in Arts from Mumbai University in 1964, he joined a realty firm in the capacity of a management trainee to understand the nuances of the market. He was clear about his priorities and was well aware of his forte. In 1975, he forayed into the property sector by establishing Hill Estates.
Mr Chopra began by focusing on streamlining his business processes. as the company grew. According to Mr Chopra, an entrepreneur should always follow a tight payment policy and encourage receivables from clients by offering lucrative discounts to them.
Implementing new business tactics
According to Mr Chopra, it is extremely important to maintain a healthy business relationship with the customers and the stakeholders. He drafted and enforced budgets effectively and curbed all non-essential spending.
As he says, “During times of an economic depression, your loyal customers are your main assets, and can be your greatest strength.” Nonetheless, as customers are price-sensitive, it is extremely important to reach out to the prospective clients and reinforce the value-propositions to close a deal.
Mr Chopra is quick to ascertain that to carve a niche in the realty sector, it is essential to define a unique selling proposition that will give the company an edge over its competitors. Marketing the area of specialisation is an efficient business tool for reaching out to potential clients. Mr Chopra states, “In order achieve due credibility, it is essential to reflect the niche of the company through various marketing tools such as brochures, press releases, newspaper ads and websites.”
Under Mr Chopra’s able guidance, Hill Estates has successfully provided relocating solutions to various MNCs in India and abroad.
Mr Chopra is a member of the Federation of Indian Chamber of Commerce and Industry (FICCI), Bombay Chamber of Commerce and Indian Merchant Chamber. He is also a founder member of the EAAI (Estate Agent Association of India).
Planning future expansion
Mr Chopra opines, “With the financial markets going through a lull, it is essential to prepare oneself for the rebound. Thus, we have taken steps such as reviewing our pricing policy, stressing on market share, shuffling product portfolios, organising staff management and analysing the market-deficits.”
Improving employee productivity and installing effective loss prevention systems are the two main short-term goals of Mr Chopra for Hill Estates for the next few months.