Tulip Infratech: Expanding Horizons

Parveen Jain
Parveen Jain, CMD, Tulip Infratech, discusses with Maria R, the Real Estate company's venture into infra development, following its JV with China Construction-CCTEB.

What led Tulip, a well-known brand name in the Real Estate sector, to foray into the Infrastructure sector?

The Infrastructure sector can be considered as the foundation on which the superstructure of Real Estate is built. The Infrastructure sector provides the basic need for any area to develop and be made accessible by road. Once an area becomes accessible and connected by roads, only then habitation follows with housing, shops, offices, commercial centers, and amenities such as water supply, sewerage, electricity, landscaping etc.

The Infrastructure sector can be considered as the foundation on which the superstructure of Real Estate is built. The Infrastructure sector provides the basic need for any area to develop and be made accessible by road. Once an area becomes accessible and connected by roads, only then habitation follows with housing, shops, offices, commercial centers, and amenities such as water supply, sewerage, electricity, landscaping etc.

Infrastructure development is the need of the hour for the growth and development of our nation, and the government is making strenuous efforts towards building highways, flyovers, and enabling connectivity to remote areas of the country.

Having already established Tulip as one of the leading brand names in real estate development, we decided to delve into infrastructure development by joining hands with China Construction-CCTEB, which is one of the largest global Chinese companies.

Tulip Voilet

What synergies between Tulip and China Construction-CCTEB will make the JV a success in India's highly competitive marketplace?

There is a great synergy between the two as Tulip is a well-established name in the Real Estate market of India and China Construction-CCTEB is well-established in the global infrastructure construction market. The Joint Venture between such big brand names makes it a winning combination and we are confident that together we will carve a niche for our company in this competitive market.

How equipped is Tulip Infratech with the necessary technology, equipment, and workforce for the execution of infra projects?

With CCTEB being a front-runner in the global market, it is well equipped with the latest technology and high-end equipment, and has a skilled workforce to execute infra projects efficiently. We have analyzed all these factors before the Joint Venture was set up so it is going to be smooth sailing for executing any infra project development.

What is your road-map for the next five years?

For the next five years and beyond, we will take up both the Real Estate and Infrastructure development projects, even diverse projects like Group Housing, Affordable Housing, Commercial and Office Complexes, Amenities, Roads, Highways and related infrastructure. We feel that though these projects may be diverse, they are overlapping as Real Estate and Infrastructure are an amalgamation of development.

Tulip Voilet

As President of NAREDCO, what are your views on the growth prospects of the Real Estate sector?

With the coming of major government policies like Demonetization, RERA, and GST etc, business dealings had somewhat slowed down last year with buyers following a wait and watch policy. But now, as these matters are settling down, the scenario is shaping up for a better tomorrow and all stakeholders are getting accustomed to RERA and GST.

The impact of GST and RERA is still being analyzed but it can be termed as positive as we are seeing the business environment becoming more structured, transparent, streamlined and systematic, all of which will benefit the buyers as projects will be monitored for quality and timely delivery and will, therefore, not get delayed.

Tulip Ivory Villas

Though it is true that it has been over a year since RERA came into effect and the reports coming from most states are quite disappointing, but it cannot be denied that RERA has changed business practices for the good of the end-user. The crazy days of pre-launches, soft-launches and attractive offers are gone. The earlier opacity, rolling over of funds, and other malpractices have been largely weeded out of the system and only 'clean' players with good business intentions will survive.

Which modern construction techniques are you using for faster project execution?

Construction of our Tulip Lemon - Affordable Housing project - started around one and a half years back. Here, we are using the latest Mivan construction shuttering technology. This uses aluminium formwork where the whole structure is of RCC and brick walls are not used. This gives a strong, earthquake-resistant structure, with easy to make typical floors, as the cement concrete pouring is made at one go with inbuilt pipes and conduits. Construction time is reduced to a great extent with this method, which also imparts a smooth finish. Mivan technology reduces the need for skilled labour for masonry, unlike conventional brick wall construction.

Tulip Infratech has received the 'Scroll of Honour for Exceptional Contribution in Residential – Affordable Housing Segment' for the Tulip Lemon project.

Tulip Ivory Villas

What are the company's strategies for sustaining growth?

Tulip Infratech has been on a fast track growth since its inception in 2005. Within a very short time, the company has become a major force to reckon within the Real Estate sector. Our goal is to deliver projects on time for the end-users, and this is the reason why the Tulip Group is enjoying an enviable position in the Real Estate sector.

We have a very client-centric focus, which means that Tulip keeps in mind investors' expectations and aims to fulfill them to the best of its capabilities. Due to the trust and reliability that we have forged with our clients, Tulip enjoys a great word of mouth publicity and a good reputation in the marketplace.

NBM&CW July 2018

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