Mr. Siddharth Vasudevan Moorthy, MD, Vascon Engineers Ltd. in Latest Issue of Business APAC Magazine May 2019

Vascon Engineers: Building Quality Projects With Over Three Decades Of Real Estate Legacy

 

The key issues of the real estate sector

The real estate sector today is facing some drastic challenges including an impending trade war, rising interest rates, tighter access to credit and sky-high prices for both commercial and residential properties. These highly disruptive problems are reaching their peaks and setting new record highs in the market. Emerging markets like India and Vietnam are attracting investors with low-cost housing units. Government of India has ambitious plans to create tens of millions of affordable houses under schemes like “Housing for all by 2022”. Similarly, authorities are offerings a range of incentives in the form of lower taxes, public/private partnerships, alternative technologies, and higher floor/area ratios, with subsidies on interest rates, approvals, infrastructure provision, and land conversion processes. However, developers in India are facing restrictions to credit from banks and are seeking to refinance debts. New policies and reforms and implementation of a regulatory body—RERA is set to eliminate these challenges and ease housing processes to benefit the sector in the long run.

Vascon’s approach to tackle the ever-changing situation

Tackling the above challenges and finding its way to success, India-based real estate company, Vascon Engineers Ltd. follows a single and simple approach to every project, “Understand the customer’s needs and expectations; fulfil the needs and exceed the expectations.” This approach has enabled the company to strike the right balance between efficient engineering and thoughtful development in every project. With more than 30 years of experience in real estate, Vascon Engineers conceives, develops, constructs and manages a variety of projects. Since its inception in 1986, the company has built numerous projects for residential, industrial, IT parks, malls and multiplexes, hospitality and community welfare centres, schools and hospitals across India. Additionally, the team of Vascon is made up of engineers who are highly qualified specialists from various fields of management. Every professional in the Vascon team follows a well-documented approach which helps them to easily handle processes from planning and procurements to testing and execution.

How the company brings quality in projects?

Vascon Engineers has a three-decade-long track record of providing on-time quality delivery. It has adopted a 360-degree focus on the use of technology right from starting the project to finalizing the construction. Vascons CRM team provides excellent after sales services. The company has a deep-rooted culture of quality and strong construction fundamentals. To offer the best experience to clients, Vascon Engineers has compatibility with some of the most stringent industry norms. It has adopted ISO for quality and environment and OHSAS (Occupational Health and Safety) Norms. Likewise, the PAN India presence is one of the plus points in the case of Vascon Engineers which helped it to execute different types of projects such as residential, commercial & industrial, malls & multiplex, hotels, hospitals, IT complexes, etc. ranging from affordable sector to the ultra-luxury segment.

Which method Vascon follows to build good relationships with stakeholders?

Today, with extensive years of excellent services to clients and a motto of development with a conscience, Vascon Engineers has become one of the most trusted and respected brands in the industry. Likewise, the company strives to achieve the top standards of corporate governance in all of its operations and processes throughout the group. Siddharth Vasudevan, the Managing Director of Vascon Engineers Ltd. comments on important elements in matching with high standards of corporate governance in all operations and processes throughout the group. He shares,

The key elements in corporate governance are transparency, disclosure, supervision, internal control, risk management, internal and external communications along with high standards of safety, accounting, and product & service quality.

Therefore, Siddharth and team ensure that the board and the management of the company are fully appraised with the affairs of the company. This further enables them to efficiently conduct the affairs of Vascon Engineers while meeting the company’s obligations to the stakeholders. According to Siddharth, the company is committed to corporate governance with the objective of generating long term profits for its stakeholders. Till date, Vascon Engineers has completed more than 200 projects with a construction area of over 50 million sq. ft. and also succeeded in acquiring government contracts too. Clients come back to Vascon for new projects, which is a live example of quality outcomes delivered by the company.

How the company improves customer experience?

Vascon Engineers believes in the philosophy of providing value for money outcomes, complete transparency, timely delivery, and high-quality standards from design, foundation to end product. In addition following a customer-centric approach, the company always strives to simplify the property buying experience of customers with remarkable initiatives like—

One Price Promise: This exclusive concept was brought in Vascon Goodlife project where customers can pick any apartment on any floor. The interesting part is that the price remains the same for all the properties. There are no PLC, no floor rise, no hidden charges and the price of the apartment is final and all-inclusive. Therefore, customers know the exact price what they will need to pay while purchasing.

Maximum Retail Price (MRP): For the first time in the real estate industry, Vascon has introduced MRP concept which is getting really popular among clients. The specialty of this concept is that the customers get the selected apartment at a lesser price point compared to the MRP.

Presently, the Managing Director—Siddharth and his fellow management team are successfully leading the company with such new concepts for customers and stakeholders. From his young age, Siddharth was extremely interested in the real estate and construction and wanted to join the industry. Therefore, prior to the position at Vascon, Siddharth did Graduation in Bachelor of Applied Science in Construction Management with Honors from Singapore Institute of Management and Royal Melbourne Institute of Technology. Today, Siddharth is proud of all the projects that the Vascon team has executed. He shares, “There is a lot to learn from every building/city. The important point is to identify and acknowledge the comforts and convenience they provide.”

The remarkable achievements and future ambitions of Vascon Engineers

At present, Vascon Engineers is on the mission to build a landmark in every location and set higher standards in construction to compete with quality. The team of Vascon has set it’s vision strategy to be one of the top 3 real-estate developers in Pune, India. According to the MD of Vascon, the future is quite exciting for the company. It is growing in both real estate and EPC arms at a rapid pace. Similarly, the company is all set to introduce a brand new pipeline of residential & commercial projects for Pune.

Vascon is also focusing on a defining trend of on-time delivery. It is accomplishing it with the provision of designing the construction of sustainable buildings that will offer an upgraded lifestyle to residents. Siddharth shares, “Vascon is a future-looking company and we invest time to identify future opportunities and challenges and work out ways to overcome them.” Thus, fighting the challenges and overcoming the market changes, Vascon has emerged as one of the most preferred real estate developers in Pune. Today, the company has successfully bagged contract from the Airport Authority of India. It has been listed in the Fortune Next 500 companies and has some remarkable projects in Pune including Platinum Square, Forest Edge, Xotech Homes, Goodlife and more. Most of them were sold out within a few days of launch. Due to such excellent projects packed with quality and state of the art amenities, the company won 22 prestigious awards last year.

Finally while sharing a piece of advice for aspiring entrepreneurs in the real estate industry, Siddharth asserts, “Many of us are just shooting some hoops, trying to get one in the basket. Many millennials say they would like to be their own boss, but far fewer take the plunge. I suggest stopping and giving it a try— going all in! Innovate around innovations.” Further, he suggests a quote for millennials from Microsoft Founder Bill Gates,

The entrepreneur of this age is one who discovers where the world is going and goes there first.

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