- 2 years ago
With over 10 lakh square metres under construction, Whiteland's iconic landmarks aim to redefine Gurugram's skyline and luxury realty market. Whiteland is well-funded, has top architects and renowned contractors building projects, besides a highly experienced team of professionals managing the firm. Manisha Natarajan speaks to Navdeep Sardana, Chairman of Whiteland Corporation on how they seek to be different and intend to build their legacy by ensuring on-time deliveries with industry-leading amenities.
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00:00 [MUSIC PLAYING]
00:03 10 lakh square meters under construction
00:13 in one of the hottest real estate
00:15 markets of India, Gurugram.
00:17 Now, that's an enviable position to be in.
00:20 We're putting the spotlight on one such company,
00:23 Vyton Corporation.
00:25 The story of the company and its founder
00:27 is one of grit, determination, and a keen understanding
00:31 of the ground realities of this market.
00:34 And they're building luxury real estate
00:36 to redefine this sector.
00:38 [MUSIC PLAYING]
00:41 Let's welcome Navdeep Sardana.
00:54 He's the chairman of Vyton Corporation.
00:56 And from Navdeep, what I want to understand
00:58 is how does he plan to take on an intensely competitive market
01:04 and delight his customer?
01:05 Navdeep, thank you so much for speaking to NDTV Profit.
01:09 [NON-ENGLISH SPEECH]
01:22 [NON-ENGLISH SPEECH]
01:26 You know, all across, all around, we have a learning.
01:30 And from good organization, from good projects,
01:33 we get to learn things.
01:34 So as long as the competition is healthy,
01:36 it's a very positive thing.
01:38 [NON-ENGLISH SPEECH]
01:42 Real estate is my passion.
01:43 Whatever I do, you know, from buying land
01:47 to execute the project, in between the journey,
01:50 you know, design and planning, overall concept of the product
01:55 mix.
01:55 So that journey, I enjoyed a lot.
01:58 Always, it's my passion.
02:00 And since my studies, once I completed my studies
02:03 from my career, I started with real estate only.
02:06 So it doesn't seem to me a work.
02:10 It's my day-to-day life.
02:11 I live real estate.
02:13 So this is not a work for me.
02:15 So I enjoy everything what I do.
02:17 OK.
02:19 What is the overall ambition?
02:21 So you enjoy it.
02:22 It's your passion.
02:23 What is the vision for the company?
02:25 Where do you want to take Whiteland Corporation?
02:27 So it's a big question.
02:29 Let me tell you.
02:30 I don't have such plans.
02:32 Rather, I have a purpose.
02:33 I have a big, big purpose and [NON-ENGLISH SPEECH]
02:38 So really, Whiteland Corporation,
02:41 I want that we should live by philosophy.
02:44 [NON-ENGLISH SPEECH]
02:47 [NON-ENGLISH SPEECH]
02:50 Long-time relationship with the client.
03:13 [NON-ENGLISH SPEECH]
03:15 Whatever we do as a developer, that
03:18 should be remembered for ages.
03:20 We should create legacy, legacy of trust and transparency.
03:23 This is what I believe in.
03:24 You do know that these are the golden words that customers
03:27 are dying to hear-- legacy or trust and transparency.
03:31 All right, I will come to that a little bit later.
03:33 [NON-ENGLISH SPEECH]
03:40 People are very interested in buying real estate in Gurugram.
03:43 The sectors that you are in, [NON-ENGLISH SPEECH]
03:47 [NON-ENGLISH SPEECH]
03:49 One is to live, but it's our largest investment
03:59 for any Indian family.
04:01 We also want that price appreciation.
04:03 [NON-ENGLISH SPEECH]
04:05 Real estate [NON-ENGLISH SPEECH]
04:08 I have seen [NON-ENGLISH SPEECH]
04:11 But Gurugram has a blessing.
04:13 If you see the proximity to Delhi,
04:16 it's just merging in Delhi.
04:18 So the prices in compared to Delhi,
04:21 Gurugram is still underestimated.
04:23 Secondly, here the demand comes from all the sectors.
04:27 You find a person from Punjab, Haryana, Uttar Pradesh,
04:31 almost entire North India.
04:33 Everybody has a desire to buy something or the other
04:36 in Gurugram.
04:37 The million cities.
04:39 So that creates a demand.
04:40 And you know, a fundamental rule.
04:42 Wherever the demand is there, so always there
04:45 are price appreciation.
04:47 Secondly, now day by day, the infrastructure is better.
04:50 Government is improving the infrastructure.
04:52 You see the [INAUDIBLE] has come up.
04:54 You see Gold Coast Road, extensions, Sonar Road.
04:57 So Gurugram has MNCs.
04:59 Gurugram has good infrastructure.
05:01 It has metro.
05:01 It has malls.
05:03 And also I have seen--
05:04 I've been dealing with a lot of many clients.
05:07 For those who have gone outside, like [NON-ENGLISH SPEECH]
05:15 They invest in Gurugram.
05:17 So that keeps the Gurugram pulse up.
05:19 So I don't see [NON-ENGLISH SPEECH]
05:22 Or I think [NON-ENGLISH SPEECH]
05:25 Or day by day, there is a scarcity of land.
05:29 And good projects as well.
05:30 You count in Gurugram, like on Gold Coast Road, extension
05:34 road, Sonar Road, you'll find a few good projects.
05:36 There are projects.
05:37 But you know, a marquee project, signature projects.
05:41 So there is always a demand in Gurugram.
05:43 So even all those factors, I think
05:44 it's a good market to invest in.
05:46 Good market to invest in.
05:48 Demand supply gap, hey.
05:49 Obviously, yes.
05:51 Because there are investors.
05:52 There are end users.
05:53 And you know, in entire North India,
05:56 this is the hottest market.
05:57 And it's a safe investment.
05:59 Let me tell you, people living in any part of Punjab,
06:02 Haryana, they buy a property.
06:04 And they're just completely safe, secure.
06:07 [NON-ENGLISH SPEECH]
06:08 So good luck to your son.
06:27 Thank you.
06:28 So I don't think that we need to differentiate.
06:31 Rather, we need to stick to fundamentals.
06:34 And the fundamentals of our real estate
06:36 is always the fastest and the quality delivery.
06:40 It speaks volumes.
06:41 If you deliver the projects, that's how your brand becomes.
06:44 So we'll never differentiate.
06:46 We'll stick to our fundamentals.
06:48 That whatever we deliver, whatever we commit,
06:50 that should be honored in time, be it
06:53 the residential or commercial.
06:55 The quality delivery makes the whole difference.
06:57 And that should be backed by a good planning.
07:01 When I say good planning, you need
07:02 to look with a strong vision, with a strong eye
07:05 on construction and financials and compliance.
07:09 [NON-ENGLISH SPEECH]
07:11 And obviously, you need team, team strength and capacities
07:27 to deliver the same.
07:29 So we are very much ready to do that.
07:31 In fact, we are doing, which is a commercial project.
07:34 And that, I am sure, will be top of the town in some times.
07:37 Really.
07:38 Let me come, though, to the customer who's buying homes.
07:43 The projects have sold very well, all your luxury projects.
07:48 How are they on the timelines?
07:49 Because you talk about the fact that fundamentals
07:52 have to be right.
07:53 [NON-ENGLISH SPEECH]
07:55 I want to ensure you, and I just want to tell you,
08:05 it's always the past which speaks,
08:07 and your actions which speaks, rather than your words.
08:11 So Urban Cues was our first project,
08:14 which we launched in 2021.
08:16 And we committed that we'll deliver in three years.
08:18 So that project, we are delivering in two years.
08:21 We applied OC last month.
08:23 And we are delivering next month, that project.
08:26 And our second project was Blissville.
08:27 That was launched in 2022 August.
08:30 And the timelines were four years for delivery.
08:33 And that we'll be delivering next year mid, 450 homes.
08:38 And the same quality--
08:39 And within the four-year timeline.
08:40 And for the high-rise, we committed for five years.
08:43 Like, we will be delivering 40-story towers in five years.
08:45 That I am ensuring the construction
08:47 is going in full swing.
08:48 Shapuji is our contractor.
08:50 And Hafiz is our architect.
08:51 And they're a good planning team.
08:53 And our in-house team of construction
08:55 is very fast and very laborious.
08:58 They will be delivering the project.
08:59 And entire Whiteland Corporation is responsible
09:01 to deliver the projects within four years of the time.
09:04 And already one year has gone.
09:05 And the construction is at a pace at this time.
09:08 And you also promised that it will be a quality product.
09:12 Not only will you actually deliver before time,
09:15 but it will be a quality product.
09:17 As I said, the very first project,
09:19 you can see the images when we showed at the time of launch
09:23 in the YouTube videos and walkthroughs.
09:26 The same quality and the same finishes has been given.
09:30 The same will be holding in our coming projects.
09:32 Because quality pays.
09:34 Customer are OK to pay.
09:36 And they are happy to pay as long
09:37 as they get the services.
09:39 So that we believe.
09:40 That's a fundamental belief for our company.
09:43 Profitability comes the last.
09:45 You know, balance sheet and profit.
09:47 But what finishes we have committed,
09:49 what vision we have shown, what images we have shown.
09:54 So complete, starting from facade, from services,
09:57 from the finishing of the apartment,
10:01 inside entire infrastructure, the sustainable development.
10:04 So that everything we control.
10:06 And we fundamentally believe that customer is not just
10:09 a king, not just a god.
10:11 So he's more of a family.
10:14 If I have to live, if my parents have to live in the same condo,
10:17 so they will feel that this is their home.
10:21 This is not just an investment.
10:22 So that belief we believe in.
10:24 And on the same lines, we are working.
10:27 And it's a word of mouth business.
10:29 Obviously.
10:29 [NON-ENGLISH SPEECH]
10:30 That referral business is a very important part
10:38 of delivering quality and in time.
10:40 [NON-ENGLISH SPEECH]
10:42 [NON-ENGLISH SPEECH]
10:43 How well funded are you for all the projects?
10:45 Because [NON-ENGLISH SPEECH]
10:46 Honestly speaking, Manisha, I don't believe in debt model.
10:56 I come from a very humble background.
10:58 Our parents say that you only spread
11:02 till the time you can manage.
11:04 And my fundamental belief is also the same.
11:07 Like you cannot measure, or you cannot manage, or vice versa.
11:12 So [NON-ENGLISH SPEECH]
11:13 But for the real estate business,
11:22 when you want to expand, or you want to grow,
11:25 you want to take the company at the next level.
11:27 So you always need a financial closure.
11:29 So we have financial closure in our projects.
11:32 In case, as I already told this, this is a very cyclic market.
11:36 In case the market goes down or goes for a hold for some time,
11:40 it gets slow sometimes.
11:42 So we have backing in case customers are not
11:44 paying on time, or maybe if we don't achieve that sales
11:48 number.
11:48 So we definitely have a good credit line
11:51 from the government institutions,
11:53 from the private institutions like SBI and ICCI.
11:56 So both are there on our paper.
12:00 And let me tell you, we have a portfolio of approximately
12:03 top line of all projects collectively is 15,000 crore.
12:07 So far, we have just 200 crores debt from a company called CSL.
12:11 So I believe that's our model.
12:16 You can see it won't be more than 1.5%
12:18 of the total business.
12:20 So fundamentally, my principles and my philosophy and thought
12:24 process is clear.
12:26 Like do whatever you can manage.
12:29 Eat whatever you can chew.
12:32 [NON-ENGLISH SPEECH]
12:33 [NON-ENGLISH SPEECH]
12:35 [NON-ENGLISH SPEECH]
12:36 We come from a very humble background.
12:43 Like it's a very small village in Bewani, Haryana.
12:47 My father has been a farmer.
12:49 So we studied in schools and then college.
12:51 Very tough time, government schools and all that journey.
12:55 So a lot of fortune, you know, up and down in the life.
12:58 So financial doesn't make a difference to me.
13:01 It's the quality.
13:02 It's the value system.
13:04 So these are the morals.
13:05 These are the lessons our family gave us.
13:07 And they worked hard with honesty and trust.
13:11 And you know, [NON-ENGLISH SPEECH]
13:15 So we need to take that legacy up or further.
13:19 So I never, ever spread that much, which I cannot manage.
13:23 So whatever we'll do, we'll do boutique products.
13:26 We'll do small projects.
13:27 But we'll do quality delivery.
13:31 This is what I believe.
13:32 No, this is excellent news for your customers, specifically.
13:36 We need a lot more credible players
13:38 in this sector and this industry as it's evolving.
13:42 I can sense the passion.
13:44 And you've already said real estate has not worked for me.
13:47 It is my life.
13:49 I'm sure right now you want to do boutique projects, Navdeep.
13:52 But someday you want to be a dominant player,
13:54 or at least be an established big brand in this micro market.
13:58 How will you get there?
13:59 No, no, no, dominant or number one, you know, is a very--
14:04 I think it's not a term to be used for Whiteland Corporation,
14:06 or for me especially.
14:08 Dominant means what?
14:09 Like you want to come first just in the market
14:13 where there are people second, third, fourth?
14:15 No.
14:16 It comes from within.
14:18 What you want in life.
14:19 So just as I told you, I don't have purpose.
14:22 I don't have just plans.
14:23 [NON-ENGLISH SPEECH]
14:25 I have a different aim.
14:26 I want to see Whiteland Corporation should
14:29 be-- its name should be written in golden words of Kurgaon Real
14:32 Estate History forever.
14:34 So purpose--
14:36 [NON-ENGLISH SPEECH]
14:39 So you're number one, number two, or--
14:41 You're not in the numbers game.
14:42 See, I haven't seen number one in the industry so far.
14:45 There are people, those who do good projects.
14:47 There are people who do good numbers.
14:50 [NON-ENGLISH SPEECH]
14:52 [NON-ENGLISH SPEECH]
15:00 So there's no end to it.
15:01 So for myself, if you ask me, [NON-ENGLISH SPEECH]
15:08 whatever we commit, that should be honored.
15:12 That is our main goal.
15:13 And our customer should be happy.
15:15 In fact, [NON-ENGLISH SPEECH]
15:20 [NON-ENGLISH SPEECH]
15:21 Navdeep, the most important question--
15:23 how do you set yourself apart and win customer trust?
15:27 I think if we win customer trust,
15:31 so we ourselves set ourselves apart.
15:34 So there's no need if we do the second one.
15:36 The first one is already considered to be done.
15:39 But differentiating from the market is not required.
15:44 Rather, we need to stick with fundamentals
15:46 to win customer trust.
15:48 Whatever we commit, whatever we say
15:50 to our customer at the time of launch, at the time of booking,
15:53 that should be honored.
15:55 Every step, starting from booking application,
15:59 whatever we commit to them, when we book an apartment.
16:03 So all promises made at the time of booking should be delivered.
16:07 And not only till delivery, we should maintain the property
16:10 till the maximum time we can.
16:13 So that is our core strength.
16:15 And that will be our focus.
16:17 Real estate has moved beyond the hardware.
16:20 It's software, which has become equally important.
16:23 In fact, [NON-ENGLISH SPEECH]
16:26 Central Delhi [NON-ENGLISH SPEECH]
16:29 Simply because the software, the amenities, the community,
16:34 all of that is way better and far superior.
16:38 What are your plans for a right kind of software
16:41 in your project?
16:41 I second that.
16:43 You know, there was a time when a developer
16:45 used to plan a good layout and a structure,
16:48 put solids, infrastructure, and that's it.
16:51 Today, it's beyond four walls.
16:54 Apartment is basic.
16:55 Like apartment, it should be there.
16:57 That's our moral duty.
16:58 But what we give outside the apartment,
17:00 that makes a whole difference.
17:02 So be it the club, be it the landscape,
17:05 good concierge services.
17:07 In fact, let me tell you in one word,
17:09 now real estate is turning towards hospitality.
17:13 Like people should feel that we are living in a resort.
17:16 So our safety, security should be at most--
17:20 like [NON-ENGLISH SPEECH]
17:23 My family is there.
17:24 My kids are safe.
17:25 And entire planning, not only for family.
17:29 [NON-ENGLISH SPEECH]
17:39 Like you should be living in a resort.
17:41 So that sort of culture we believe in,
17:44 that sort of team and infrastructure
17:47 we are developing.
17:49 So [NON-ENGLISH SPEECH]
17:53 I think [NON-ENGLISH SPEECH]
17:56 [NON-ENGLISH SPEECH]
17:58 We are one of those.
17:59 [NON-ENGLISH SPEECH]
18:02 In fact, that shift has already taken place.
18:05 So real estate and hospitality.
18:07 Now these have become two synonyms.
18:09 You cannot separate the one from the other.
18:11 So what I like about what you said
18:13 was that a house is a given.
18:15 [NON-ENGLISH SPEECH]
18:17 Yes.
18:17 [NON-ENGLISH SPEECH]
18:19 That's very important.
18:21 All right.
18:22 [NON-ENGLISH SPEECH]
18:27 What kind of people are you hiring?
18:28 What is the setup?
18:29 Rather, what are the processes that you follow?
18:33 [NON-ENGLISH SPEECH]
18:34 I'll divide this team structure into two parts.
18:38 First, I believe in technology.
18:39 [NON-ENGLISH SPEECH]
18:43 [NON-ENGLISH SPEECH]
18:46 [NON-ENGLISH SPEECH]
18:50 What I have done, I had a very simple thing in my mind.
18:54 To be at par or to be a big organization,
18:58 you need always a good team.
19:00 And to have a good team, first, you
19:01 need to simplify your processes.
19:04 Second, you need to incentivize them.
19:06 Third, you need to empower them.
19:08 [NON-ENGLISH SPEECH]
19:15 Financials [NON-ENGLISH SPEECH]
19:18 the atmosphere he works in.
19:20 So we have a very strong setup.
19:22 We have professionals who are more than 30 years
19:24 of experience, be it the construction heads,
19:26 project heads, be it the technical, be it the financial,
19:29 CFOs, and be it the sales, marketing.
19:33 So we have a complete professional setup.
19:35 And we have on board good companies.
19:38 For example, Deloitte is on board with us.
19:40 And fundamentally, it's a well-organized system.
19:45 So even if you're not around 10 days, 20 days,
19:47 it doesn't make a difference.
19:49 Everything works on a system.
19:51 Everything works on ERP.
19:53 And everybody holds the responsibility.
19:55 And it's a very strong professional team, I must say.
19:58 And I'm very happy and I'm kind to board
20:01 that board has given me such a great team, for sure.
20:04 Real estate is your DNA.
20:05 And you've given us the assurance of quality,
20:07 timely delivery, good amount of funding.
20:11 Navdeep Sardana, thank you so much for speaking with us.
20:13 Thank you, Manisha.
20:14 You're so kind.
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20:33 (dramatic music)
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