We launched our first project in 2010, and since then we are committed to the affordable sector. Our aim is to create happy communities along with an excellent physical structures and great amenities, says Rohit Poddar, Managing Director, Poddar Housing and Development Limited, in conversation with Rakesh Roy of Elets News Network (ENN).
Your family is into business since 1690, isn’t it? Will you please brief us on this further?
The family originally was traders in Churu, in Sikar, Shekhawati, Rajasthan, with the surname Churuwal. They were very successful and had a thriving trading business, especially in woolen products, amongst others. History has it that Churu went into decline and the erstwhile Thakur decided to impose additional high taxes on goods, which the Churuwals found very unfair, consequently went to the Raja of Sikar and got his permission to found their own town - Ramgarh in 1791. The Raja changed their surname to Poddar because they were financing the King. The First Poddar was Bhagothi Ram Poddar who founded Ramgarh, which was subsequently called ‘Seth ka Ramgarh’. The family went on to form Tarachand Ghanshyamdas (Tarachand and Ghanshyamdas, were decedents of Bhagothi Ram) and the firm went on to become a very large and prominent firm for over 150 years with multiple business including oil distribution, Hundi’s, insurance, manufacturing etc with offices across the subcontinent and international operations in Hong Kong and Shanghai, all at the time when telecommunication was a serious challenge. Harvard professors have written about this famous firm. The family then went into textiles, automobile tyre manufacturing, education, healthcare and finally real estate.
When did Poddar family think of entering into housing?
Well, the family has done construction in the past, on what was deemed as excess land. However, we looked at affordable housing very seriously when the affordable housing market report by the National Housing Bank (NHB) and the Monitor Group was published in 2007, which clearly showed the large supply gap.
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