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“This is a landmark achievement for us”
Kabul Chawla,
Managing Director, BPTP Limited
BPTP Ltd has bagged Asia’s largest land deal at Rs
5,006 crore.
You couldn’t have missed this in the headlines: BPTP
Group, a leading Indian real estate player established in
2003, has bagged Asia’s largest land deal worth an incredible
Rs 5,006 crore for 95 acre of prime commercial land in Noida.
The land was auctioned by the Noida Authority. It lies along
the Greater Noida Expressway in Sector 94, Noida, a prime
location owing to its proximity to South Delhi. It will be
developed as a large, world-class commercial district with
modern concepts and quality facilities, including retail spaces
and hotels. Indeed, the BPTP deal leaves other big ticket
land transactions in the country far behind in absolute terms.
One man couldn’t be more delighted: Kabul Chawla, Managing
Director, BPTP Ltd. “The company will invest about Rs
3,000 crore to develop this land,” he says with pride.
A first-generation entrepreneur, he has been the prime force
in making BPTP Ltd a real estate giant. Under his leadership,
BPTP now owns a land bank of over 1,900 acre spread across
Faridabad, Gurgaon, Noida, Greater Noida, Mohali and Hyderabad,
devoted towards multiple product category offerings such as
integrated townships, residential, commercial and retail space,
and IT/ITES SEZs. Chawla’s unique vision and goal-oriented
approach has helped the transition of BPTP Ltd into a respected
and influential company in a short span of time. Respected
investors like the realty arm of Citibank and Merrill Lynch
have shown immense confidence in the growth of the company
and invested in its projects.
A sports enthusiast and voracious reader, Chawla believes
the real mantra for success lies in recognising the importance
of how one wins along with what one wins. He speaks to CW
about his company and strategic vision…
Tell us more about your company.
Today, BPTP is one of the fastest emerging real estate players
in the country with ongoing projects in Faridabad, Gurgaon,
Noida, Greater Noida and Hyderabad. Our potential has also
been recognised by overseas investors. Recently CPI, the real
estate arm of Citigroup, has taken an equity stake of 5.89
per cent in BPTP, valuing the firm at $ 1.7 billion In March
2007, Merrill Lynch invested Rs 1,120 million in a 51:49 JV
to develop an IT project in Gurgaon along with BPTP. On completion,
this IT park will have a saleable area of 625,000 sq ft. BPTP
has also bagged 30 acre for Knowledge City, Hyderabad, put
on auction by Andhra Pradesh Industrial Infrastructure Corporation
(APIIC) in November 2007. And we have received formal approval
from the Board of Approvals, Ministry of Commerce, for four
IT/ITES SEZs in Noida, Greater Noida, Faridabad and Gurgaon
this February. BPTP has a larger real estate interest in Faridabad
where it is developing a residential township and has also
acquired land in Gurgaon where projects are under construction.
We have 10 projects under execution (seven residential, one
IT and two commercial) and about 115.55 mn sq ft under development.
We have already delivered over 2.24 million sq ft.
Currently you are in the news for grabbing the country’s
largest land deal in Noida. How did you achieve this?
This is a landmark achievement for BPTP. We were keen on this
deal as the land was available at a prime location and the
size offered us the opportunity to build one of the finest
and biggest business districts in India. As the entire area
is owned by us, its plot will be developed with a focused
approach.
What are your plans here?
We are planning to make this commercial complex a world-class
business destination. We are in discussion with renowned inter-national
architects like Foster + Partners for the project. BPTP will
invest about Rs 3,000 crore on this project. The project will
start in five to six months – the first phase will be
completed in two years, while we propose to complete the entire
space of 90 lakh sq ft in five years.
Why are you looking at international architects?
The creation of a world-class destination needs a world-class
architect.
You have built up BPTP Ltd within a span of just five years.
What is the secret behind this quick success?
It is definitely hard work, commitment and teamwork.
Tell us about your project in Knowledge City in Hyderabad?
It will be a mixed-use project having a commercial segment,
hospitality sector and an IT park.
Any other prominent projects?
One major achievement is our Parklands Project spread across
1,400 acre in Faridabad, which is a landmark project in integrated
township development in North India. It is one of the most
prestigious and ambitious projects of the company. The integrated
township will have residential complexes, schools, shopping
malls and multiplexes for discerning customers.
Faridabad is strategically located in the NCR and is now considered
to be the sixth fastest growing city in the world according
to a UK-based research firm.
Apart from one project in Hyderabad, you seem to be focusing
on the NCR. Are you looking at projects in other areas?
We are looking for more opportunities in other parts of the
country. As and when they come, we will definitely explore
our options.
Of the various verticals in the real estate
sector, which fascinates you the most?
All verticals of the real-estate sector are equally important
for us. We are also entering the hospitality sector. Apart
from that,
commercial and retail sectors also have great potential.
Where do you see the real estate sector
10 years from now?
Real estate is the fastest growing sector in India. With a
booming economy like India’s, this sector will see exponential
growth
in the future.
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