A Project Report on Real Estate

Oberoi Realty Limited

Brigade Enterprises Limited
OMAXE Limited

By Mital Gohil
Master of Arts in Human Resource Development
(2020-2022)

Under guidance of Henal Parikh

DEPARTMENT OF HUMAN RESOURCE DEVELOPMENT

VEER NARMAD SOUTH GUJARAT UNIVERSITY

1
 Report Completion Certificate

VEER NARMAD SOUTH GUJARAT UNIVERSITY

DEPARTMENT OF HUMAN RESOUCE DEVELOPMENT

Veer Narmad South

Phone : (0261) 2256071 Gujarat University
Fax: (0261) 2256071 Campus,
Udhna-Magdalla Road,
Surat,

CERTIFICATE
TO WHOMSOEVER IT MAY CONCERN

This is to certify that Gohil Mital Karansinh student of Master of Human Resource
Development (MHRD) of Department of Human Resource Development 2020-2022 has
prepared this project report on HR practices undertaken by him.

He has prepared this report under the guidance of faculty Henal Parikh of the
Department of Human Resource Development as such he is allowed to submit this report
for final assessment.

Place: Surat
Date: 20/12/2021

___________________ ___________________
Henal Parikh Dr. Digvijay Thakore
(Supervising Teacher) (Professor & Head)

Declaration

2
 I hereby declare that the project work entitled “A Project Report on Real Estate Sector 1.
Oberoi Realty Limited 2. Brigade enterprises Limited 3. NBCC India Limited.” submitted
to the DEPARTMENT OF HUMAN RESOURCE DEVELOPMENT, is a record of an
original work done by me under the guidance of Ms. Henal Parikh, and this project work is
submitted in the partial fulfilment of the requirements for the award of the degree of Master
of Ats in Human Resource Development.

Mital Gohil

3
 Acknowledgement

“It is not possible to prepare a project report without the assistance & encouragement of
other people. This one is certainly no exception.”

On the very outset of this report, I would like to extend my sincere & heartfelt obligation
towards my faculty who have helped me in this endeavour. Without her active guidance,
help, cooperation & encouragement, I would not have made headway in the project.

I am thankful and pay my gratitude to head of the department Dr. Digvijaysinh Thakore for
giving me this opportunity. I am thankful and pay my gratitude to my faculty Ms. Henal
Parekh for her valuable guidance and support on completion of this project in its presently.

I extend my gratitude to Department of Human Resource Development for giving me this

opportunity.

Any omission in this brief acknowledgement does not mean lack of gratitude.

Thanking You
Mital Gohil

4
 Executive summary

This report is about a study of the three different Real Estate sector companies, named
Oberoi Realty Limited, Brigade enterprises Limited, NBCC India Limited tried to cover
possible all aspects of the functioning of the companies with Human Resource
Development function.

In 1st Chapter, you can find the information on the Real Estate Sector. I have covered the
history of the sector in the world as well as in India, overall working of the sector, Top
major players or competitors of the companies, SWOC analysis, GDP contribution and
some funny facts and figures. As well as, I have also covered the challenges faced by the
sector in India.

The 2nd Chapter is about the companies which I have chosen. I have mentioned some basic
details like years of establishment, vision-mission-value statement, name of founders, name
and location of the branches, Moreover, I have added SWOT analysis of the companies,
and also some Awards and Recognitions.

3rd Chapter is all about HRD mechanism adopted by companies. All companies have their
own ways to cover recruitment & selection, training & development, HR policies,
performance appraisal methods, employee safety plan, employee engagement programs,
grievance handling. Additionally, I have added CSR activities of the as they have
performed tremendously.

I am really glad to cover companies’ other department in 4th Chapter; like finance,
marketing, performance/operational. At the end you can find some conclusion from me in
Chapter 5.

5
 The details of the companies are taken from their official sites and latest annual report.
Also, I have mentioned the other links and books that I have reviewed to prepare this
report.

6
 Chapter 5. Conclusion
Oberoi Realty Limited
Brigade Enterprises Limited
OMAXE Limited
Particulars Page No.
Title Page 1
Bibliography
Report Completion Certificate 2
Declaration 3
Acknowledgement 4
Executive Summary 5

Chapter 1. Industrial scenario 8-15

History 9
Overall Working 9
Challenges Faced In India 9
SWOC Analysis 11
Major Players 12
GDP Contribution By That Sector 13
Facts And Figures 14

Chapter 2. Profile of the companies 15-29

Oberoi Realty Limited 16
Brigade Enterprises Limited 20
OMAXE Limited 24

Chapter 3. Human Resource Development

Oberoi Realty Limited
Brigade Enterprises Limited
OMAXE Limited

Chapter 4. Brief information

Oberoi Realty Limited
Brigade Enterprises Limited
OMAXE Limited

Table of Contains

7
 Chapter 1 – Industrial Scenario

8
 History/Evolution:
The real estate industry traces its roots all the way back to the early 1800s when the
Louisiana Purchase became the first major real estate acquisition made by the U.S.
To boost the residential industry in the country the Central Government established the
Housing & Urban Development Company in 1970, City & Industrial Development
Corporation in 1971 as well as the National Housing Bank in 1988.
Real estate became a legal term to identify a royal grant of estate land. ... The word “real”
is derived from Latin, meaning existing, actual, or genuine. The word “estate” is an English
translation of the Old French word “estat” meaning status.

Overall working:
Real estate involves the purchase, sale, and development of land, residential and non-
residential buildings. The main players in the real estate market are the landlords,
developers, builders, real estate agents, tenants, buyers etc.

Challenges faced by sector in India:

From limited land availability for construction activities to outdated building technologies,
Indian real estate has been long grappling with multiple issues. It is perhaps high time that
the Government provides immediate solutions to these problems and aid the perturbed real
estate developers and homebuyers.

Indian real estate is one of the biggest and globally recognised sectors accounting for about
13 percent of its Gross Domestic Product (GDP). The sector's market size was expected to
reach $1 trillion by the year 2030. But, the COVID-19 pandemic led to massive turbulence,
with the entire sector’s revenue and market share decreasing to a new low amid the
pandemic-led lockdown and reverse migration of construction labours. Nevertheless, the
introduction of COVID-19 vaccines and large-scale vaccination drive has opened the
economy. Businesses and markets are gradually returning to their pre-COVID-19 levels,
and it seems that the pandemic led problems would soon be history.

9
 But the pandemic had not been the only problem. Many other issues in the Indian real
estate sector have been troubling the developers and homebuyers since long. The
Government needs to pay heed to these issues and resolve them to make the sector more
efficient and growth orientated. Some of the widespread problems in the Indian real estate
sector are:

1. Unavailability of land:
There is a large share of underutilised and vacant land parcels that the Government should
spare for development through land regulations, land readjustment and land pooling
policies. This will help the real estate sector grow and improve the situation of financially
aggrieved developers. There is a growing call to change or revise the Land Acquisition
Resettlement and Rehabilitation Act of 2013.

2. Long-pending infrastructure projects:

Indian real estate market is rigged with examples of delayed and long-pending
infrastructure projects, be it the public sector projects or private sector housing colonies.
The major reason behind the delay is the uneven funding and lack of technologies to
complete them on time. Besides, the protracted approval process is also a considerable
challenge. Project approvals in India range from days to years due to the absence of a
single-window clearance option, which results in time and cost escalations.

3. Overpopulation:
By 2050, India will be the world’s most populous country, with over 50 percent of people
living in urban centres and Tier 1 cities. To sustain such a big population, India requires
more new cities and urban centres on a large-scale to provide all necessary resources to the
inhabitants. Thus, nationwide construction in the housing sector is essential.

4. Outdated building techniques:

Indian real estate is the only sector in the world that still uses old building techniques and is
overly dependent on extensive human labour. This, in turn, results in regular maintenance.
On the contrary, new construction techniques require high-quality building materials such

10
 as concrete and iron slabs, which involve less human participation. Therefore, it is crucial
that developers rely on modern building techniques as this will reduce not only the
construction time but also the labour cost and ensure faster deliveries.

SWOC analysis:

Strength:
1. Value Multiplies Overtime
2. Less Risky Investment
3. Authority over the Use of Land
4. Inflation Hedge
5. Used as Collateral
6. Traded in the Open Market

Weakness:
1. Difficult to Transfer Ownership
2. Not Liquid Asset
3. Huge Capital Required
4. Limited Supply

Opportunities:
1. Global Demand
2. Rapidly Growing
3. New Areas have Great Potential

Challenges:
1. Economic Recession
2. Competition with other Assets
3. Price Falls due to Less Demand

11
 Major Players in the sector:

 Prestige Estates projects Ltd.:

Name: Prestige Estates projects Ltd.
Year of Establishment: It was established in 1986
Company Profile: Over the last decade, the Prestige Group has firmly
established itself as one of the leading and most
successful developers of real estate in India by
imprinting its indelible mark across all asset classes.
Founded in 1986, the group’s turnover is today in
excess of Rs 3518 Cr (for FY 15); a leap that has been
inspired by CMD Irfan Razack and marshalled by his
brothers Rizwan Razack and Naaman Razack. As of
30th June 2020, the group has completed 247 projects
covering 134 million sft, and currently has 45 ongoing
projects covering over 53 million sft, 56 mn sft of
upcoming projects, and holds a land bank of 262 acres
with potential developable area of 27 mn sft. The
Market Capital of the company as on 30 June 2020 is
INR 84,021 Mn. The group’s turnover for the quarter
ended June 30, 2020 is INR 12,963 Mn.
Future Prospects: Over the last decade, the Prestige Group has firmly
established itself as one of the leading and most
successful developers of real estate in India by
imprinting its indelible mark across all asset classes,
with sales in excess of Rs. 5,000 Crore in the year
2020-21. Prestige Group has its presence across cities
such as Bangalore, Hyderabad, Chennai , Kochi, Goa
and Mangalore and will soon be launching in Mumbai
as well as Delhi-NCR

12
 L&T Realty
Name: L&T Realty
Year of Establishment: It was established in 2011
Company Profile:  L&T Realty is the real estate arm of Larsen and
Toubro and a trendsetter amidst real estate developers
in India. ... L&T Realty is committed to creating
landmarks of excellence and providing customer
delight at every touch point, through design innovation
and operational excellence.
Future Prospects: L&T Realty has made its way to every major part of
the country with operations in Mumbai, Navi Mumbai,
Faridabad, Bengaluru, Hyderabad and Chennai. The
company is committed to building a better tomorrow,
whether it be a home, office or retail development.
With the mission of being innovative and constantly
attaining global benchmarks, L&T Realty is confident
of having its footprints all around the world in the
times to come.

 Unitech Limited:
Name: Unitech Limited
Year of Establishment: Unitech Limited was established in 1972 by a group of
engineers, initially as a consultancy firm for soil and
foundation engineering. In 1986, it set its eyes on the
real estate business in Gurgaon.
Company Profile: The Group's principal activities are the construction,
real estate development, consultancy in related areas,
hotels, electrical transmission and information
technology. The activities of the Construction segment
include highway projects, industrial projects and
overseas projects. Real estate development includes the
development of commercial as well as residential

13
 properties. The Group operates in India and exports
engineered construction products to the Middle East
Future Prospects: – Achieve high growth by establishing a pan India
presence
– focus on major economic centres
– Focus on profitable projects that maximize returns
– Undertake large mixed-use projects like integrated
townships in the suburbs of main cities.

GDP contribution by that sector:

The Indian Real estate industry is one of the largest sectors in the country. The contribution
of the real estate sector to India’s gross domestic product (GDP) has been estimated around
6.5 to 7 per cent and the segment is expected to generate millions of jobs.
The real estate sector’s contribution to the GDP is 7 percent now and it is expected to reach
10 percent by 2025. The sector in India is set to be valued at USD 1 trillion in the next few
years as the country aims at USD 5 trillion economy, he said at an interactive session with
Bharat Chamber of Commerce.

Some facts regarding that sector:

The real estate sector of India is quite vast and it attracts numerous consumers every year,
some look for buying themselves a home or an office, while others plan to invest in
different properties for financial stability in future. Today, we are going to list a few facts
about the real estate sector of India that will leave you amazed.

1. Second largest employer in the country:

The real estate sector in India is the second largest employer in the country, only after
agriculture. It will grow at the rate of 30% over the next decade. The residential real
estate sector alone makes up to contribute 5-6% to India’s total GDP.
2. Growing sector:

14
 The real estate market in India is a rapidly growing sector that is most likely to touch
$180 billion by 2020. From 2008-2020, India’s real estate market will grow at a
compound annual growth rate (CAGR) of 11.2%.
3. Seventh most expensive office market:
Connaught Place, which is the Central Business District in New Delhi, is the seventh
most expensive prime office market in the world. It has an annual occupancy cost of
$149.71 per sq. ft.
4. Most expensive home in the world:
Owned by business tycoon Mukesh Ambani, the 27-storeyed ‘Antilia’ is the world’s
most expensive home. It is the tallest independent residence in India that was built at a
cost of about $1 billion.
5. Huge residential colony:
Kankarbagh in Patna is one of the biggest residential colonies in Asia. It is spread
across an area of 900 acres.

Chapter 2 – Company Profile

15
 Name and location of the company:
Name: Oberoi Realty Limited
Location: 3rd Floor, International Business Park, Oberoi Garden City, Off Western Express
Highway, Goregaon (East), Mumbai-400 063. India

Name location of other branches:

It operates in Chandigarh, Gurgaon, Ahmedabad, Kolkata, Nagpur, Mumbai, Pune,
Hyderabad, Mangalore, Noida, Bengaluru, Chennai and Kochi.

Year of establishment:
1998.

Brief history:
Oberoi Realty was incorporated as Kingston Properties Private Limited in 1998. Oberoi
Constructions Private Ltd. (OCPL) was incorporated under the Companies Act on 2
November 1993, in Mumbai.[6] OCPL is involved in the business of real estate
development and related activities and is a 100% subsidiary of Oberoi Realty Ltd. The
current name Oberoi Realty was adopted on 22 October 2009, to clarify the exact nature of
business and operations. Immediately thereafter, the company became a "Public Limited"
entity and consequently, the name was changed to Oberoi Realty Limited

Name of founders:
16
 Vikas Oberoi

Vision statements:
The vision of our company is an actionable, purpose-led ideal that has a real and significant
bearing on our deliveries and our conduct. We are committed to ensuring that our offerings
are revolutionary, ahead of the times, benchmarked against best global trends & practices
and built around our discerning customers' needs. We ensure that the ecosystem we operate
in, the society around and all people who experience, engage or align with any aspect of the
spaces we create, truly feel the differentiation and positive impact on quality of life.

Mission statements and Value statements:

In letter and spirit, our brand pillars stand at the very core of who we are and what we stand
for - not just in our deliveries but also in our everyday conduct. Our approach to work and
all interactions with customers, vendors, channel-partners, colleagues and society at large is
defined and enriched by our values

Value:
1) Quality
2) Passion for Innovation
3) Customer - Centricity
4) Integrity & Transparency
5) Teamwork
6) I Connect

17
 SWOT analysis of the company:
Strength:
1) Strong presence in Mumbai.
2) Established brand and reputation
3) Strong base of client in commercial.
4) Financial stability of tenants
5) Strong workforce

Weakness:
1) Volatility in prices of, or shortages of, key building materials
2) Largely depend on third parties, Joint ventures, Contractors on whom they have
limited control.

Opportunity:
1) Continuous focus on large development in Mumbai
2) Acquisition and Joint venture for sustainable development
3) For more growth in other metro cities in India.

Threats:
1) Extensive regulation includes various Environmental laws regulation, which may be
more stringent in near future
2) Constraint of fund
3) Changes to the FSI/TDR regime in Mumbai
4) Terrorist attacks which may affect the steady business development
5) Changing and downturn in Economic condition of the country

Any other specific detail:

Awards symbolize recognition and appreciation from the industry and peers. It is no
small achievement to win an enviable collection consistently, as we have done. Given
our commitment to creating the cutting-edge, Oberoi Realty has amply been recognized

18
 and awarded at some of the most prestigious award ceremonies in India and Abroad
within the real estate sector. To name a few:

A. Autodesk Imagine Awards 2021. In Category Industry Disruptor- Architecture,

Engineering & Construction Industry Segment in

B. INFHRA Workplace Excellence Award 2020 In Category Excellence in Innovation

and Technology, Excellence in Safety and Security

C. ET NOW Global Awards for Retail Excellence 2019 In Category Best Customer
Experience – shopping malls, Most Admired Shopping Centre of the Year-Retailers
Choice.

D. Hindustan Times-Real Estate Awards 2018 In Category Best Successor-Second

Generation Award, Esquire-Most Desirable Residences-Mumbai

E. Construction Week India 2017 In Category Real Estate company of the Year

F. Realty Plus Excellence Awards (west) 2016 In Category Residential Property of the
Year – Sky City.

G. Acetech Alpha 2015 , In Category Special Recognition Award for Innovation in Design

H. 7th Employer Branding 2014 , In CategoryManaging Health at Work’ at National Level

I. Guinness World Records Largest Vending Machine at Oberoi Mall - Hot Wheelz
Vending Machine

19
 Name and location of the company:
Name: Brigade enterprises ltd.
Location: 29th & 30th Floor,World Trade Center, Brigade Gateway Campus, 26/1, Dr
Rajkumar Road, Malleswaram-Rajajinagar, Bangalore-560 055, Karnataka, India.

Year of establishment:
1986

Brief history:
The Brigade Group is one of India’s leading property developers with over three decades of
expertise in building positive experiences for all stakeholders. Instituted in 1986, the
company has developed many landmark buildings and transformed the skyline of cities
across South India, namely – Bengaluru, Mysuru, Mangaluru, Chikmagalur, Hyderabad,
Chennai, Ahmedabad and Kochi with developments across the Residential, Commercial,
Retail, Hospitality and Education sectors. Since its inception, Brigade has completed 250+
buildings amounting to over 70 million sq. ft of developed space across a diverse real estate
portfolio.

Name of founders:
M R Jaishankar and Gita Shankar

20
 Vision statements:
To be a World Class Organisation in our Products, Processes, People and Performance

Mission statements and Value statements:

To constantly endeavour to be the Preferred Developer of Residential, Commercial and
Hospitality spaces in the markets in which we operate, without compromising on our Core
Values, for the benefit of all our Stakeholders

Value:
1) QC-FIRST
2) Quality
3) Fair
4) Customer
5) Innovative
6) Responsible Socially
7) Trustworthy

SWOT analysis of the company:

Strength:
1) Track record of innovation .
2) Talent management 
3) Diverse Revenue models 
4) First mover advantage 
5) Strong brand recognition 
6) Wide geographic presence 

21
 Weakness:
1) Extra cost of building new supply chain and logistics network 
2) Niche markets and local monopolies 
3) Gross Margins and Operating Margins 
4) Declining per unit revenue for Brigade Enterprises 
5) . Declining market share 

Opportunity:
1) Rapid Expansion of Economy 
2) Accelerated technological innovations and advances 
3) Opportunities in Online Space 
4) Increasing government regulations 
5) Trend of customers migrating to higher end products 

Threats:
1) Competitive pressures 
2) Trade Relation between US and China
3) Saturation in urban market and stagnation in the rural markets
4) Changing political environment
5) Shortage of skilled human resources
6) Distrust of institutions

22
 Name and location of the company:
Name: OMAXE Limited
Location: Omaxe House, 7, LSC, Kalkaji, New Delhi - 110019 (India)

Name location of other branches:

It operates in Chandigarh, Faridabad, Indore, Greater Noida, Ludhiana, Noida, Lucknow,
Jaipur, Sonipat

Year of establishment:
1998.

Brief history:
Oberoi Realty was incorporated as Kingston Properties Private Limited in 1998. Oberoi
Constructions Private Ltd. (OCPL) was incorporated under the Companies Act on 2
November 1993, in Mumbai.[6] OCPL is involved in the business of real estate
development and related activities and is a 100% subsidiary of Oberoi Realty Ltd. The
current name Oberoi Realty was adopted on 22 October 2009, to clarify the exact nature of
business and operations. Immediately thereafter, the company became a "Public Limited"
entity and consequently, the name was changed to Oberoi Realty Limited

Name of founders:
23
 Vikas Oberoi

Vision statements:
The vision of our company is an actionable, purpose-led ideal that has a real and significant
bearing on our deliveries and our conduct. We are committed to ensuring that our offerings
are revolutionary, ahead of the times, benchmarked against best global trends & practices
and built around our discerning customers' needs. We ensure that the ecosystem we operate
in, the society around and all people who experience, engage or align with any aspect of the
spaces we create, truly feel the differentiation and positive impact on quality of life.

Mission statements and Value statements:

In letter and spirit, our brand pillars stand at the very core of who we are and what we stand
for - not just in our deliveries but also in our everyday conduct. Our approach to work and
all interactions with customers, vendors, channel-partners, colleagues and society at large is
defined and enriched by our values

Value:
7) Quality
8) Passion for Innovation
9) Customer - Centricity
10) Integrity & Transparency
11) Teamwork
12) I Connect

24
 SWOT analysis of the company:
Strength:
6) Strong presence in Mumbai.
7) Established brand and reputation
8) Strong base of client in commercial.
9) Financial stability of tenants
10) Strong workforce

Weakness:
3) Volatility in prices of, or shortages of, key building materials
4) Largely depend on third parties, Joint ventures, Contractors on whom they have
limited control.

Opportunity:
4) Continuous focus on large development in Mumbai
5) Acquisition and Joint venture for sustainable development
6) For more growth in other metro cities in India.

Threats:
6) Extensive regulation includes various Environmental laws regulation, which may be
more stringent in near future
7) Constraint of fund
8) Changes to the FSI/TDR regime in Mumbai
9) Terrorist attacks which may affect the steady business development
10) Changing and downturn in Economic condition of the country

Any other specific detail:

Awards symbolize recognition and appreciation from the industry and peers. It is no
small achievement to win an enviable collection consistently, as we have done. Given
our commitment to creating the cutting-edge, Oberoi Realty has amply been recognized

25
 and awarded at some of the most prestigious award ceremonies in India and Abroad
within the real estate sector. To name a few:

J. Autodesk Imagine Awards 2021. In Category Industry Disruptor- Architecture,

Engineering & Construction Industry Segment in

K. INFHRA Workplace Excellence Award 2020 In Category Excellence in Innovation

and Technology, Excellence in Safety and Security

L. ET NOW Global Awards for Retail Excellence 2019 In Category Best Customer
Experience – shopping malls, Most Admired Shopping Centre of the Year-Retailers
Choice.

M. Hindustan Times-Real Estate Awards 2018 In Category Best Successor-Second

Generation Award, Esquire-Most Desirable Residences-Mumbai

N. Construction Week India 2017 In Category Real Estate company of the Year

O. Realty Plus Excellence Awards (west) 2016 In Category Residential Property of the
Year – Sky City.

P. Acetech Alpha 2015 , In Category Special Recognition Award for Innovation in Design

Q. 7th Employer Branding 2014 , In CategoryManaging Health at Work’ at National Level

R. Guinness World Records Largest Vending Machine at Oberoi Mall - Hot Wheelz
Vending Machine

26
 Chapter 3 – Human Resource Development

27
28