Recognized for upscale designs in the best locations and an organization committed to customer satisfaction, Supreme Universal believes in building excellence that nurtures quality in all it undertakes, creating innovative projects that deliver value to clients.
Obsessed with utmost luxury and lifestyle since 1982, it has been a core value of the organization to set the highest standards of quality in the industry. The young and talented directors at Supreme Universal are the ones who along with the founders are responsible for growing the company by many folds in the recent past.
Responsible for developing some of the most luxurious and sought after residential properties in Mumbai, the organization took its operations to Pune in early 2001 and developed commercial as well as residential projects, which have been considered a hit with the young IT generation.
Sunny Bijlani, Director, Supreme Universal, is a part of formulating strategies for future expansion plans of the group. A management graduate specialising in finance and with a professional background, which included a stint with Axi Risk Consulting (then part of the Ambit RSM Group) he takes time off to share his views with Accommodation Times.
Can you shed some light on Supreme Universal for us?
The company was established in 1982. We started off with residential properties for the western suburbs. In 2001, we diversified our operations in Pune. Our dichotomy of projects is settled mostly in Mumbai, say around 80 per cent. The remaining is in Pune. We are primarily into the residential segment. 90 per cent of our projects are in this category. In Mumbai, we have projects in Khar, Bandra, Powai and Chembur.
What is unique about the services you provide? What sets you apart?
We cater to the luxury end, super premium segment. The amenities that we offer are a notch above the rest. In Chembur, for instance, we have provided with amenities like a car lift, a garden within the apartment and the works of a luxury apartment. We have international architects involved with our projects. Apartments are polished stressing on finishing and quality. All a home owner has to do is get his furniture and his clothes to move in.
We also focus on energy efficiency, something that has caught on recent times. So we have options like double glazing for windows for example. We focus on planning, engineering and design. Practicality is also a key. We look at aspects like wind direction and the way the light enters an apartment. In this regards, the floor part is imperative and we have no compromises when it comes to finalizing the floor plan.
What projects have you been involved with?
We have currently 2 million sq ft under our belt. We have Lake Homes in Powai which is a mini-township. We have projects in Khar and Bandra. We have launched projects in Pali Hill and Colaba, both of which provide sea-views. We are also in Union Park in Chembur. As you can observe, we are involved in prime locations and offer premium apartments. In Pune, we have half a million sq. ft which marks our presence there.
How have you coped in the recent fiasco of the realty sector?
We are a zero debt company. We have a sufficient amount of working capital. There will never be any serious impact for anyone who is well leveraged. I mean there are no interest payments to worry about, etc. So we are well managed.
To stimulate the realty sector what measures do you suggest? What should be the role of the government in such a time? Your views.
First and foremost, credit should be made easily available. Secondly, and more importantly, there should be a regulatory body with a single window clearance. The costs and time involved in obtaining various approvals and clearances is very high. A single window clearance can keep this in check and ensure a smooth flow of operations. There should be fixed rules and regulations for approvals. There is too much subjectivity which results in a corrupt state of affairs.
The government should also real locked land. This will create supply and meet demands in a better manner. Infrastructure is also a key which will ensure that metropolitan cities like Mumbai can breathe well.
Is the recession finally over? What indicators justify your response?
The worst is certainly over and sentiments have definitely improved. However, in the industry, prices are rising slowly and steadily. And this is coming at a time when prices have to be in line with an affordability index. The developers need to be sensible in these matters and check their rates as per the current economic climate.
What are the biggest challenges that are faced today?
The biggest challenge in the industry today is deals with clear titles and affordability. Another consideration that has been turning a few heads is that development of buildings should not harm the environment. For us, there has been a significant growth at the moment and we have to scale up accordingly. We are trying to make a solid foundation in order to match our growth.
What, as per your views, is the impact of the Dubai crisis?
In the long term, I do not feel that there is a negative impact as such. When it initially happened, the sentiments took a dive for a day or two. It affected the stock market a bit and the export industry has taken a whip, but beyond that it has not really affected this country. Non-Resident Indians (NRIs) settled there may have to come back home and this can lead to investments here. India may stand to benefit due to this, especially the realty sector, as it is an ideal investment avenue for investments
How do you see the outlook for India in 2010?
2010 will be a stable year. People will be looking at revenues and numbers closely. It will not be a year of upward movement where property prices are considered. There will be market forces that will thoroughly resist such an incident. With inflation also shooting up, it will tighten liquidity in the economy. But when the Reserve Bank of India (RBI) intervenes and sets off for equilibrium, spending power will increase. 2010 will be year for consolidation, a year of damage limitation.
When the spending power improves 2011, will be a year to lookout for.