Founded in 1978, Runwal is a player in Mumbai’s real estate scene. They focus on residential, commercial, and retail projects, with a commitment to putting customer needs first throughout the entire development process. This it said is reflected in their track record of over 42 completed projects, creating happy homes for over 35,000 families.
Runwal offers a variety of residential options, including luxury apartments, premium housing, and mixed use developments. They also have the largest retail mall chain in Mumbai, managing malls like R City, Ghatkopar. With 14 ongoing projects underway, they continue to develop Mumbai and the surrounding region.
Medianews4u.com caught up with Runwal CMO Rima Kirtikar to find out more.
Q. What factors have prompted the recent surge in demand within the luxury real estate sector over the past year?
The booming real estate market, driven by capital appreciation and the investment appeal of luxury properties, has significantly increased demand. Additionally, the shortage of luxury apartments in prime locations and the growing investments from NRIs have further fuelled the growth of this segment.
Q. How is Runwal going to capitalise on it?
Runwal is well-positioned to capitalise on this surge in demand. Our existing luxury properties in prime locations such as Napean Sea Road, Worli, and Lokhandwala have garnered a tremendous response from customers. Furthermore, we have upcoming luxury projects in Worli and Walkeshwar that are poised to meet the growing need for luxury housing.
Q. How does Runwal differentiate itself in the luxury real estate space? What is the strategy to stand out in this sector?
Runwal differentiates itself through a commitment to the finest quality housing, with meticulous attention to detail, seamless experiences, and state-of-the-art amenities. Our strategy focuses on delivering exceptional value and luxury, ensuring our properties stand out in the competitive market.
Q. What are the emerging consumer preferences and demands within the luxury segment? Has the target group and profile of the luxury homebuyer changed in the last five years?
Emerging consumer preferences within the luxury segment include a demand for larger living spaces, integrated smart home technologies, and sustainable, eco-friendly features. The profile of the luxury homebuyer has also evolved, with a younger, more tech-savvy demographic showing increased interest. Additionally, there is a growing preference for properties that offer a blend of exclusivity and convenience.
Q. What is the approach to staying ahead of market trends and anticipating client needs in luxury developments?
Runwal stays ahead of market trends by continuously researching and analysing the latest developments in the real estate sector. We invest in innovative technologies and design principles that anticipate and meet the evolving needs of our clients.
Our approach includes regular feedback from our customers, allowing us to tailor our offerings to their preferences and ensure we remain at the forefront of the industry.
Q. Runwal recently teamed up with Audi Mumbai West for the second edition of Audi Quattro Drive. What role does on-ground marketing play within the overall marketing mix?
On-ground marketing plays a pivotal role in our overall marketing strategy. It enhances brand recall and provides extraordinary experiences for our customers, creating lasting impressions and fostering strong brand loyalty.
Q. Are shopping malls an important touchpoint for Runwal?
Yes, shopping malls are crucial touchpoints for Runwal, where we utilize Below The Line (BTL) activation. With our ownership of R City in Ghatkopar and R Mall in Thane, we are able to reach and engage with a wider audience for all our projects.
Q. Is Runwal finding OOH (Out-Of-Home) advertising more effective compared to the past as digital usage in that medium grows?
While digital mediums are increasingly gaining traction, particularly among the tech-savvy younger generation, OOH advertising remains highly effective. It provides extensive reach and visibility, complementing our digital efforts and ensuring a robust presence across multiple platforms.
Q. On digital platforms like Instagram Reels, how does Runwal use AR and VR to give prospective buyers an immersive experience?
We utilize AR and VR technologies to offer immersive experiences to prospective buyers at our sales galleries. These setups allow us to create a comprehensive and engaging environment, helping customers visualize their future homes in a more interactive and realistic manner.
Q. What role does word of mouth play in the luxury home segment?
Word of mouth plays a crucial role in the luxury home segment. Given that purchasing a luxury home is a significant and long-term investment, potential buyers often rely on the experiences and opinions of their friends and family. Positive word of mouth can greatly influence buying decisions and build trust in the brand.
Q. How do you ensure that the brand remains relevant and appealing to changing market dynamics?
We ensure our brand remains relevant by continually upgrading ourselves with the latest technologies, fixtures, and finishes. While we adapt to changing market dynamics, our core values of building homes that remain relevant across generations stay consistent.
Q. Besides Mumbai, is Runwal planning to expand to other cities?
Yes, besides our strong presence in Mumbai, we are also present in Pune.
