Niranjan Hiranandani On TRS: Opens Up On The Challenges Of Real Estate Industry | TRS 424
Jul 5, 2024
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Real Estate Tycoon Niranjan Hiranandani shares insights on transforming Mumbai's landscape, embracing incremental improvements for success, the 'mamba mentality,' entrepreneurship journey, overcoming financial struggles, navigating industry challenges, importance of ethics in business longevity, and continuous learning in real estate development.
Learning from mistakes and maintaining a positive mindset is crucial for overcoming setbacks in the real estate industry.
Focusing on providing quality buildings and continuous improvement can lead to success in the real estate sector.
Adaptability and strategic decision-making are essential for navigating challenges in the dynamic real estate market.
Perseverance, continuous learning, and ethical practices are key for sustainable growth and success in the competitive real estate industry.
Deep dives
Success in Real Estate and Dealing with Challenges
Working in the real estate industry requires determination and resilience. Nirenjan Hiranandani shares insights about the challenges he faced and the pivotal decisions that led to his success. Despite facing setbacks, including coping with the possibility of bankruptcy due to risky investments, he emphasizes the importance of learning from mistakes and maintaining a positive mindset.
Commitment to Excellence and Continuous Growth
Nirenjan Hiranandani's commitment to delivering quality buildings and continuous improvement is highlighted as a key factor in his success. He shares how focusing on providing top-notch services and constantly striving for excellence has contributed to his achievements in the real estate sector. By emphasizing the importance of integrity and customer satisfaction, he sets a standard for conducting business.
Navigating Challenges in the Real Estate Industry
Navigating challenges in the real estate industry requires adaptability and strategic decision-making. Nirenjan Hiranandani discusses the dynamic nature of the industry and the importance of responding effectively to external factors, such as market fluctuations and regulatory changes. By sharing his experiences in overcoming obstacles, he provides valuable insights for aspiring real estate professionals.
Key Principles for Success in Real Estate
In the competitive real estate market, Nirenjan Hiranandani emphasizes the significance of perseverance and continuous learning. He underscores the value of innovation and resilience in staying ahead in the industry. By prioritizing quality, ethical practices, and a focus on societal impact, he sets a benchmark for sustainable growth and long-term success.
Importance of Ethical Values in Business Sustainability
Ethical values and trust are highlighted as the key factors for long-term business success, emphasizing that even with quality products, unethical practices can hinder survival. The speaker stresses that trust and ethical values are crucial for longevity in any industry.
Learning Domain Knowledge for Real Estate Development
The importance of gaining domain knowledge before starting a career in real estate is discussed, emphasizing the need to work with experienced professionals and understand the industry intricacies. The speaker suggests learning from successful individuals and gaining practical experience to minimize mistakes in real estate ventures.
Technology and Innovation in Real Estate
The role of technology in various aspects of real estate development is explored, from design and construction to marketing and sales. The speaker emphasizes the necessity of embracing technological advancements such as 3D printing for building construction, highlighting the importance of innovation in the industry for future growth.
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Today on The Ranveer Show, we welcome the Indian business icon Niranjan Hiranandani. He is a prominent Indian businessman and real estate tycoon. He co-founded the Hiranandani Group and is well-known for transforming the real estate landscape of Mumbai. He is recognized for his contributions to the industry and has held several prestigious positions, including the President of the National Real Estate Development Council (NAREDCO) and the Associated Chambers of Commerce and Industry of India (ASSOCHAM).
In this episode, we will delve into the life and career of Niranjan Hiranandani. In this episode, we will discuss his journey, the challenges he overcame, and his commitment to continuous improvement, sustainability, and ethical values. He also emphasizes the importance of integrity, customer-centric design, and giving back to society through social initiatives and much more.
This was an amazing conversation about business and real estate with none other than Niranjan sir. I hope you will enjoy this episode and let us know your thoughts in the comments.
(0:00) - Start of the podcast
(2:40) - Niranjan Hiranandani x Ranveer Allahbadia
(4:00) - Incremental improvements
(9:10) - His story
(13:18) - Beginning a business in the 70s
(14:33) - Underworld element in real estate
(16:35) - Scope in real estate
(17:30) - What is a good building?
(23:20) - How he sold his first real estate
(26:55) - Challenges in business
(32:07) - Doing business in the 50s and 60s
(40:37) - His first salary
(45:48) - Working for money
(52:20) - His classmates and friends
(56:38) - About Amitabh Bachchan
(59:25) - The largest amount of money he has lost
(1:05:25) - Negatives in real estate
(1:07:36) - How to grow in real estate?
(1:10:45) - What is important to succeed?
(1:16:50) - First step in getting into real estate
(1:24:22) - The current real estate market
(1:29:00) - Rent vs. Buy
(1:34:55) - Design aspect of real estate
(1:37:40) - High rent & real estate price in Mumbai
(1:40:56) - Developments in Mumbai
(1:44:30) - Cities he loves other than Mumbai
(1:47:00) - His memory of creating the first building
(1:49:08) - What goes on in buying land?
(1:52:08) - Technology in real estate
(1:57:30) - Qualities of Sindhis
(2:01:08) - His visit to Pakistan
(2:03:06) - Thank you for watching
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