Piramal Realty was founded in 2012, Piramal Realty, the real estate development. Piramal creates unforgettable memories and experiences that strengthen bonds and create flourishing lives. The real estate development arm of Piramal Group is one of India’s leading developers with 17 mn sq. ft of residential and commercial under development in and around Mumbai. In 2015, two of the world’s most respected private equity investors invested $235 million dollars for a minority stake in the company.
Piramal Realty aims to be the gold standard in design, quality, safety, and customer-centricity in both residential and commercial real estate. Piramal Realty’s developments, while being cutting edge and contemporary, focus on embracing a more intuitive definition of luxury, which celebrates nature, greenery, space, light, ventilation, art, culture, and community living.
Kyron Dinshaw, Vice President, Marketing, Piramal Realty speaks exclusively to MediaNews4U on the growth story, the recent campaign, and the way forward…
Piramal Realty the growth story?
The Piramal Group’s real estate development arm, Piramal Realty, was founded by Mr. Anand Piramal in 2012. Currently, it has 17Mn square feet of residential space under development in MMR, making it one of the leading developers in India. Two of the world’s most respected private equity investors invested $235Mn for a minority stake in the company in 2015.
Piramal Realty is known to set gold standards in design, quality, safety, and value customer-centricity. As of today, our portfolio comprises of residential projects, namely PiramalMahalaxmi (Mahalaxmi), PiramalVaikunth (Thane), PiramalRevanta (Mulund), PiramalAranya (Byculla), and Piramal Agastya (BKC), a state-of-the-art commercial project. Apart from being cutting-edge and contemporary, Piramal Realty’s developments are conceptualized on Biophilia, community living, and practical luxury.
Piramal Realty had combined sales of over INR 5400 crore in the two years prior to the pandemic. With this accomplishment, it became one of the largest developers in India in terms of sales.
You recently launched the campaign, ‘Reserve Memories’, can you elaborate on this?
There is a saying that a picture is worth a thousand words, but memories are priceless. We create unforgettable memories and experiences that strengthen bonds and create flourishing lives.
We believe that the most precious things are not derived from money; they stem from memories and moments created with loved ones. “If you do not celebrate them, you may miss them.” The campaign is all about that feeling of belonging and coming back to the memories and experiences that shape our identities and make us the people we are today.
A sheltered haven called home is the epicenter where memories are made, stories are told, and love is nourished. The ‘Reserve Memories’ campaign encourages us to return, wherever we may be, to that safe place with family to create our own everlasting memories.
Under the current campaign, customers have three opportunities to take advantage of and add to their own special vault of irreplaceable memories while buying a new home with Piramal Realty.
In recent times, the real estate dynamics have changed; how are the firms dealing with wooing customers?
Real estate has traditionally been a business model built on interpersonal relationships between various stakeholders. Businesses must inevitably adapt to the current times, which have been faced by extended lockdowns. Several customers could not visit project sites, which led to a delay in the home buying process. A large part of the developers’ staff had also been forced to work from home. Therefore, engaging with customers in the future Would require an innovative approach where customers have access to all the in information they need from the comforts of their homes.
We had initiated the process of integrating technology to make the purchasing process more convenient for the consumers. However, the pandemic gave us the required push to implement our plan for technological integration much earlier than we anticipated, resulting in us offering real-time access to our inventory. Customers could also go through the amenities, floor plans, and 3d tours through video calls or our websites.
In addition to enhancing the virtual experience, Piramal Realty pioneered an end-to-end booking process through 3 simple steps:
- Finding an apartment one loves
- Completing the booking form and
- Making the payment through a secured payment gateway.
What will be the marketing initiatives for the said campaign to reach the right customers?
‘Reserve Memories’ focuses on building unforgettable memories and experiences that strengthen bonds leading to the flourishing of families. Our communication strategy is to create an everlasting relationship with our customers while making home buying easier for families.
Piramal Realty has adopted a multi-channel approach to engaging with its customers by using owned, paid and earned media. Every channel has been used more efficiently over this time, creating a new communication toolbox. Our owned media strategy closely aligns with our brand ethos and customer experience. We were able to do this by creating relevant content for our target audience and subsequently building a community of consumers.
Today, Digital is the frontrunner. Will this campaign be purely digital, or will you look at traditional mediums like TV/Press?
Amid the pandemic, consumers have increasingly turned to digital, which made brands pivot and establish their presence on platforms where their customers are located. Besides, social media has become an important tool for us to engage with our consumers. Brands that can utilize digital and social tools to build a trusted relationship are well-positioned to navigate ongoing disruptions. In the real estate industry, it has become imperative to be present across platforms, be it digital or traditional. However, A digital-first approach has allowed us to reach the right audience and build a connection with them.
Way forward for Piramal Realty?
Piramal Realty aspires to be the most admired real estate brand in the Mumbai Metropolitan Region. Our vision is to provide an unrivaled consumer experience that meets the changing needs of our customers and is consistent with our broad commitment to strive for the highest standards of quality. Besides, we want to provide our customers with efficiently designed homes, giving access to a host of wellness amenities for their wellbeing.