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Realty Plus Team  
Newsmakers

Featuring the leading lights of the industry, who hogged the limelight during the month

Polyester To Property
The 132-year-old Bombay Dyeing, a part of the Nusli Wadia Group, is transforming itself into a realty firm after its textile operations turned unviable. Wadia has entrusted this task to his younger, enterprising son Jeh Wadia, who as the new Managing Director of Bombay Dyeing, will spearhead the group’s realty foray to take it to the next level.

The group’s unlisted firm Bombay Realty is currently developing Bombay Dyeing’s two mill lands, measuring 65 acres at Worli and Wadala in Mumbai.

Jeh’s elder brother Ness Wadia, at the helm of Bombay Dyeing for the past 10 years, has been shifted to the group’s trading firm Bombay Burmah.

As compared to his low-profile and reticent sibling Ness Wadia, Jeh is known to be more aggressive by nature. Jeh has successfully turned around Go Air with his determination and sheer hard work.

As realty business needs lots of aggression and executing capability, apart from liasioning with government bodies for project clearance, Nusli Wadia has chosen Jeh to lead the group’s venture into real estate.

Jeh is considered to be the right person for the job as the real estate business of Bombay Dyeing is now poised for a take off after Ness has laid the successful foundation.

While a five-star hotel and an IT park complex are being developed by Bombay Dyeing at its land at Worli, a premium residential complex is coming up at the land at Wadala.

From textiles, real estate has become a key growth area for Bombay Dyeing and the Wadia Group, which is seeking to regain its lost glory.

Scripting New Success Story
DK Jain, CEO of Luxor Group, ably supported by his daughter and Executive Director Pooja Jain, is taking the Luxor brand to another level after making a mark in the writing instruments industry. Pioneer in the niche segment of writing instruments, Luxor is now diversifying from its core business into sectors ranging from real estate and hospitality to retail.

Luxor started its operations in 1963 with fountain pens of lower value. It now manufactures and sells under many popular and niche brands like Parker, Pilot, Waterman and Luxor. It also exports to over 110 countries and is growing at the rate of 15 per cent annually. Exports contribute about 30 per cent of its turnover.

On the real estate front, Luxor is already partnering in the special economic zones’ sector in ITeS (IT-enabled services) in 64-acre area in Gurgaon, under the name of Luxor Cyber City Pvt Ltd. It also has 50 per cent shareholding in Qutab Hotel, New Delhi.

The company has also aggressive plans in retail where it operates through Signature & Luxor Express formats, besides shop-in-shop outlets in Reliance Time Out and Crossword stores. It aims to launch 20 flagship retail stores every year for five years. With investments into newer sectors including real estate, retail and hospitality, Luxor hopes to achieve a turnover of Rs 800-1000 crore next year.

Consumer Connect
Empowering consumers is the new mantra for Chennai-based Marg Group. Steered by G R K Reddy, Chairman and Managing Director, the company’s residential arm MARG Properties has launched “MARG Properties Shoppe,” a concept retail store showcasing real estate projects to the home seekers. The recently launched outlet in Chennai, equipped with experimental zones, AV ROMs, discussion rooms, touch screen kiosk and exclusive customer lounge will offer easy access to Marg’s real estate project range.

MARG Properties Shoppe, a first-of-its-kind retail shop in the real estate category, will not just be a one-stop solution for all customers but also serve them as an education and couselling centre by sharing updated industry knowledge for a more informed investment decision based on the land cost, city values and movement and asset appreciation.

Since MARG Properties has homes for all the categories ranging from affordable homes, urban smart homes, integrated township and ultra luxury homes, the customers, according to the CEO, S Ramakrishnan, can pick and choose the home best suited to their requirements through a unique buying experience. This is first of the Marg’s retail shops to be launched and the company is planning to launch a few more in the near future to get closer to the customers.

 
 
 
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