ICS Group – An Integrated Player in Real Estate

Kunal Premnarayan
ICS Group, founded in 1998, was initially focused on heavy infrastructure like roads, power, water etc., but over the years, it has strategically shifted its focus to real estate, hospitality and financial services. "Our vision is to be an integrated player in this sector and to create value for all its stakeholders. We aim to institutionalize the process of development and management of real estate. With a strong base created, our focus is to consolidate and to fast track growth by capitalizing on the synergies offered by our complementing businesses," says Mr. Kunal Premnarayen, Group CEO, ICS Group, in an interview with Maria R.

Could you please start with a brief note on the evolution of ICS Group including the inspiration behind the launch of this group?

ICS Group was founded in 1998 by Mr. Deepak Premnarayen, Executive Chairman. He saw that the infrastructure development was lagging far behind the exponential growth India has witnessed post 1991. The need was to develop and strengthen the physical infrastructure in the country. ICS Group was initially focused on heavy infrastructure such as roads, power, and water etc., but over the years, it has strategically shifted its focus to real estate and hospitality. ICS’ vision is to be an integrated player in this sector and to create value for all its stakeholders.

ICS Group companies are involved in real estate, hospitality, assets management, and financial services. What are the services being offered by your various verticals? Please tell us about some of the prestigious projects executed by your Group?

ICS Group has interest in real estate, asset management, financial services and hospitality.

Thane One MumbaiThane One– Developed and managed by Pioneer Property Zone, Designed by Bentel Associates

Real Estate:

  • Pioneer Property Zone– is the property development and management business of the Group. PPZ is unique in its offering of complete end-to-end property solutions, with the objective of creating successful assets and providing a comprehensive experience to the end customers.
  • Bentel Associates Realty Design Consultants Private Limited – is the architectural design and development division. It offers a host of services including master planning, project concept and development, architectural design and development, interior design, graphic design and store planning.
  • Secure Parking Solutions – is the car park management division. It provides end-to-end solutions, right from the conceptualization or design stage up to the actual management of car parks. Secure also provides parking equipments.

Financial Services:

  • Asset Management - ICS asset management arm provides investment management/ advisory services to institutions/ funds focused on the Indian real estate sector.
  • Corporate Finance - provides comprehensive and wide range of financial services to its clients. It has a dedicated team of senior professionals who bring forth a combination of strategic, operational and corporate finance skills.

Hospitality:

  • Ayana Hospitality– ICS has forayed into the luxury boutique hospitality segment. Currently Ayana has operational and upcoming properties in Goa, Maharashtra and Madhya Pradesh.
    Some of our prestigious projects are:
  • Bentel Associates: Oberoi Mall - Mumbai, South City Mall - Kolkata, U B city - Bangalore, D B Mall – Bhopal, Pacific Mall – Dehradun, Thane One - Mumbai (LEED Platinum certified and Asia Pacific Property Awards winner in 2013)
  • Pioneer Property Zone: Trillium Mall – Amritsar, Capital City – Delhi, Pacific Mall – Delhi, Majeera Mall – Hyderabad, Bailey Square - Patna
  • Secure Parking: Inorbit Mall- Mumbai, High Street Phoenix - Mumbai, Lulu Mall – Kochi, Orion Mall – Bangalore, Viviana Mall - Thane, Trident Hotel - Mumbai.
  • Asset Management: ICS has partnered with Prozone Capital Shopping Centre to develop 3 large mixed use developments in Aurangabad, Nagpur and Coimbatore. The total investment is Rs.375 crores and the total developable area is in excess of 6 million sq ft. Aurangabad Mall is operational from last 3 years while the Nagpur and Coimbatore projects are in various stages of development.
  • Ayana Hospitality: Safira River Front Resort – Goa, Ekaant the retreat - Lavasa

Is the Group looking to spread its horizon in other sectors also? If so, please shed some light on this new development and its progress so far.

Currently the Group is not looking at diversification. It is focusing on consolidating and growing its existing businesses.

Why does ICS believe in collaborating mainly with the leading global players? Please enumerate on your various partnerships and their contribution toward the development of your firm.

High Street Phoenix MumbaiHigh Street Phoenix, Mumbai – Car park management and valet service by Secure Parking Solution
Yes, ICS has partnered with international domain leaders for its businesses.

The key reasons for allying with these specific partners are that they have the functional expertise and deep domain knowledge of the respective businesses. ICS has been successful in setting up businesses with these partners, which have truly Indianized and are adding significant value to projects across the country using the technical expertise and ICS’s deep understanding of the local market.

Our partners are:

  • Property Management & Development and Asset Management – Old Mutual Property (part of Old Mutual Plc listed on FTSE)
  • Architecture – Bentel Associates International, South Africa (has more than 50 years of designing experience)
  • Car Park Management - Secure Parking International, Australia (largest car park operator in Australia, SE Asia, India and Middle East region)
  • Hospitality - Mantis Group, South Africa (owns and operates a diversified global portfolio of 73 properties)

Real estate market has witnessed a marked business spurt in recent past. How do you expect it to grow in the next two-three years?

Real estate business is cyclical in nature. The way we see it now, is that with a stable majority government which is pro-development the sector will get the right impetus. Overall economic growth and development, will also spur demand for quality residential, commercial and retail space will increase.

Safira River Front Resort GoaSafira River Front Resort, Goa managed by Ayana Hospitality

Currently, the realty sector is recording a brisk business in tier II and tier III cities. Do you have any future plan to extend your building business to these areas?

We hope for an all inclusive and balanced growth. Tier II cities have not developed to their full potential and there is opportunity. We have a number of projects across our businesses in tier II cities such as Nagpur, Ranchi, Vadodara to name a few. The key challenge is not with demand and prosperity in these markets, but the need for a cultural shift in mindset of people, particularly in some micro-markets, to embrace more ways of living, working and recreation.

What are various business values the Group cherishes and how are these being translated into practice to deliver assured end results to the clients?

ICS aims to institutionalize the process of development and management of real estate. Each business follows a regimented process with due governance and transparency so as to deliver projects on a timely basis, the ultimate objective being to create value for all stake holders.

How do you rate your current business growth? A word about your strategic market plans to stay ahead in the business.

We have been quite fortunate in being able to capitalize on our early entrant advantage in different businesses. With a strong base created our focus is to consolidate and to fast track growth by capitalizing on the synergies offered by our complementing businesses.
NBM&CW - July 2014
NBM&CW Celebrates 30 Years of Progress in the Construction Industry

NBM&CW Celebrates 30 Years of Progress in the Construction Industry

This month marks a significant milestone for our publication as we celebrate 30 years of dedicated service to the construction industry. For over three decades we have been relentless advocates for the adoption of technology, equipment

Read more ...

The Future of Indian Infrastructure Construction Landscape

The Future of Indian Infrastructure Construction Landscape

The Indian construction industry is poised for a significant transformation over the next two decades. With a strong focus on infrastructure development, India will invest over 1.40 trillion USD in the next five years on infra

Read more ...

KNR Constructions: Optimizing Project Delivery with Advanced Equipment

KNR Constructions: Optimizing Project Delivery with Advanced Equipment

Mechanization is helping projects become more financially viable. At KNR, we have become self-reliant by deploying our own equipment and new construction methodologies, which is also helping us optimize cost and time during

Read more ...

Volvo CE: Electric Excavators, Wheel Loaders, Haulers & Compactors

Volvo CE: Electric Excavators, Wheel Loaders, Haulers & Compactors

Volvo CE India is a frontrunner in sustainable construction equipment, offering electric excavators, wheel loaders, haulers, and compactors alongside advanced technologies for efficiency and flexible business models to meet evolving customer needs.

Read more ...

Rajpath Infracon: Transformative Technologies Driving Growth Opportunities

Rajpath Infracon: Transformative Technologies Driving Growth Opportunities

Rajpath Infracon recognizes that innovation is the key to building sustainable, efficient, and durable roads for the future. They advocate for the adoption of advanced technologies throughout the entire project lifecycle - from materials and design to construction and maintenance.

Read more ...

AFCONS: Leveraging Technologies Like GFRP, HSFRC, UHPC, Precast & BIM

AFCONS: Leveraging Technologies Like GFRP, HSFRC, UHPC, Precast & BIM

AFCONS Infrastructure is at the forefront of construction innovation, leveraging disruptive technologies like GFRP, HSFRC, UHPC, precast construction, and BIM to address labor shortages, enhance sustainability, and improve project efficiency.

Read more ...

Wirtgen: Cold Milling Machines, Asphalt Pavers & Compaction Equipment

Wirtgen: Cold Milling Machines, Asphalt Pavers & Compaction Equipment

With its innovative and cost-effective road building and rehabilitation machines, the Wirtgen Group has emerged as an undisputed market leader, offering customers tech-rich and value-for-money products.

Read more ...

Godrej Switches to 100% Green Energy; Builds 3D Printed Office from RCA

Godrej Switches to 100% Green Energy; Builds 3D Printed Office from RCA

We have implemented eco-friendly production processes and energy-efficient technologies to minimize our carbon footprint; we also adhere to stringent waste management protocols, and the principles of Circular Economy.

Read more ...

Terex: Cutting-Edge Mobile Crushers & Screens, Washing Systems & Cranes

Terex: Cutting-Edge Mobile Crushers & Screens, Washing Systems & Cranes

Terex India, a leader in materials processing equipment like Powerscreen® mobile crushers and Finlay® screens, is at the forefront of sustainable construction. Their Hosur facility exemplifies operational excellence with a focus on clean energy, environmental responsibility, and digital tools for efficiency across their diverse product range including Terex® Washing Systems, Franna® cranes, and EvoQuip® solutions.

Read more ...

BMC Mumbai: Road Repair with Thin White Topping & Ultra-Thin White Topping

BMC Mumbai: Road Repair with Thin White Topping & Ultra-Thin White Topping

Thin White Topping/Ultra-Thin White Topping overlays are innovative pavement repair and strengthening solutions and are also cost-effective and less maintenance intensive, having demonstrated performance comparable to traditional

Read more ...

ACE: Mobile Crane, Pick & Carry Crane & Backhoe for Next-Gen Construction

ACE: Mobile Crane, Pick & Carry Crane & Backhoe for Next-Gen Construction

Action Construction Equipment (ACE) offers a comprehensive range of construction equipment – mobile cranes, Pick & Carry Cranes, fixed tower cranes, backhoe loaders, and more – while pioneering sustainable solutions and advanced technologies like automation and AI for next-generation construction.

Read more ...

Sanghvi Movers: Leading Crane Rental Industry With End-to-End Solutions

Sanghvi Movers: Leading Crane Rental Industry With End-to-End Solutions

Sanghvi Movers, Asia's largest crane rental company, leverages its extensive fleet of cranes and expertise to address infrastructure growth in India. They offer comprehensive solutions including logistics, erection services, and project management for diverse sectors like wind energy and refineries.

Read more ...

JCB LiveLink & Industry 4.0 for Connected Machines & Smart Manufacturing

JCB LiveLink & Industry 4.0 for Connected Machines & Smart Manufacturing

JCB India leads the way in digital construction with JCB LiveLink for their iconic Backhoe Loaders and other machines, offering real-time data, improved efficiency, and Industry 4.0 adoption for smarter manufacturing.

Read more ...

Adani Group: Driving Construction Innovation with Digital Solutions & AI

Adani Group: Driving Construction Innovation with Digital Solutions & AI

Ambuja Cements and ACC’s focus on Digitalisation and AI-driven strategies are delivering exceptional solutions. By embracing cutting-edge technologies and fostering a culture of innovation, we are offering best-in-class products and

Read more ...

SCHWING Stetter: Batching Plants, Concrete Pumps & Waste Recycling Plants

SCHWING Stetter: Batching Plants, Concrete Pumps & Waste Recycling Plants

SCHWING Stetter India, a leader in concrete equipment, offers a wide range of innovative products – batching plants, concrete pumps, mixers and waste recycling plants – to promote sustainable and efficient construction practices.

Read more ...

Kalpataru Group: Transforming the EPC Industry for a Greener Future

Kalpataru Group: Transforming the EPC Industry for a Greener Future

Kalpataru Group champions sustainable practices in the EPC industry, focusing on renewable energy, green buildings, and innovative technologies for a greener future.

Read more ...

Puzzolana: Leveraging R&D for Advanced Crushing & Screening Equipment

Puzzolana: Leveraging R&D for Advanced Crushing & Screening Equipment

Puzzolana leverages R&D to develop cutting-edge crushing and screening equipment, including high-capacity jaw and cone crushers, for optimized production and reduced costs per ton.

Read more ...

SGES Group: Expert Geotechnical Solutions for Streamlined Construction

SGES Group: Expert Geotechnical Solutions for Streamlined Construction

At SGES, our team brings over 200 years of collective experience in solving complex geotechnical problems; by quickly providing tailored solutions, we assist clients in making timely decisions, thus avoiding time and cost overruns.

Read more ...

Sany: Intelligent Service Platform with Telematics & Electric Dump Truck

Sany: Intelligent Service Platform with Telematics & Electric Dump Truck

Sany India discusses their Intelligent Service Platform with telematics and analytics, commitment to electric vehicles like the SKT105E mining dump truck, and plans for hybrid construction equipment.

Read more ...

To get latest updates on whatsapp, Save +91 93545 87773 and send us a 'Saved' message
Click Here to Subscribe to Our eNewsletter.