WE MANAGED TO REACH AROUND RS 1,100 CRORE THROUGH THE IPO.

At a time when the real estate market is hanging on by a thread and most developers have taken a serious hit, prospects seem bleak. Hardly any new projects are being launched, and the ones that have been unveiled are not generating much interest among buyers, let alone sales. This would seem like an easy time to crumble under the mounting pressure. But there are those who rise to a challenge.

Pradeep Jain, founder-chairman, Parsvnath Developers Ltd (PDL), is one such person. In these adverse conditions, he is looking to tread a different path. Instead of focussing on the negative, Jain believes this is an opportunity for developers to consolidate the market by completing what’s already on their plate, thus winning back the trust of buyers, and laying down the foundation for a mature market.

FOUNDED ON DIVERSITY

“I did my education in Delhi and post that, in 1984, I started in the real estate business as a broker,” reminisces Jain. At a time when the real estate sector as a whole was unplanned, and few brokers in the country had a large presence as opposed to multinational brokers today like JLL, CBRE, and others Jain was a broker with leading developers and had 10 offices spread across the country.