origin of the organization

8/8/2019 Origin of the Organization

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ORIGIN OF THE ORGANIZATION [CONCORDE GROUP]

A solid foundation is required for a sturdy edifice. And sure enough that of

Concorde housing corporation pvt.ltd is built on rock hard building blocks

those of quality, transparency, fairplay, integrity and honesty. Concorde

housing corporation Pvt. Ltd. was set up in 1995. Concorde commenced its

operations with a group plot of developers. Riding on the growth wave of real-

estate, the group made a strategic shift into constructions of villas and apartments;

from then on it transformed into a new breed of builders and carved an enviable

niche for itself in the real estate arena, offering great quality of living spaces at

extremely competitive prices. Concorde achieves customer delight by offering

unmatched living experience through continued quality consciousness, which is

steeped in every aspect and stage of the construction cycle, right from project

conception, through execution and delivery.

At the helm of the group, B S Shivrama, Chairman and R Gopal Reddy, Managing

Director bring to the table rich experience and knowledge in their respective fields

and form a powerful combination of able administration and keen business

acumen. They are complemented by a team of high-caliber engineers, architects,

marketing professionals, finance and legal personnel.

Concorde housing corporation pvt.ltd offers architecture, project

management, construction, interior design and project execution; all under

single point responsibility. Consequently the companys expertise extends toall areas of operation, ranging from conception to completion of projects

including manufacturing, procurement, products and services. It is the first

ISO 9001 Company in its category in India. The Company is registered with

an authorized capital of Rs. 22,00,00,000.


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INDUSTRIAL BACKGROUND

Indian real estate market

India being a densely populated country in the world there is an ever

growing need for accommodation. The supply of land being constant it is

difficult to reach equilibrium with an increasing demand for it. This

signifies the scope of real estate industry in the country. The real estate

sector in India can be broadly divided into the Industrial Market and

Residential Market.

Bangalore Real Estate Market

Bangalore, capital city of the state of Karnataka is one of the fastest

growing metropolitan cities in India. With less than 0.5 % of the area of the

state, it is home to nearly 10.5% of its population, which has doubled over

the past 10 years. The growth is attributable to economic reforms in India;

the citys growing popularity is software destination and its ability to attractindividuals to live and work has been commendable. Bangalore is not

widely dispersed geographically as in case with Delhi, Calcutta and

Mumbai. Today the city faces a serious problem of congestion and over

crowding.

Historically, the govt. of India has taken initiative to establish institutions

like HMT, ITC, and ISRO etc. in Bangalore. This thrust has helped the city

develop to a hub of information technology, electronics, precision

engineering, aerospace, ready-made textiles and electrical engineering. In


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fact, 33 of the top 200 software companies in the country are headquartered

in Bangalore.

The decade of the 1990s has been a roller-coaster ride for developers after

years of reasonably steady growth, the market reached steadying heights in

the mid-nineties and then came crashing down in 1997-98. The real estate in

Bangalore is currently on a roll. Recent months have seen the pace of

development accelerate across the city and across all residential and

commercial segments.

The key driver of the recovery has been the sustained demand from the IT

sector. Since 1998 Bangalore has been on a new trajectory. Human

Resources being a key element, the hiring and housing of people, both at

their work places and homes, take on critical proportions, creating spaces,

for people to live and work in, causing infrastructure development that is

essential for growth.

Today, the Indian companies and MNCs who are in IT related business

occupies close to a million square feet of space and have paved the way for

a lot more peer groups to absorb several million square feet of space .On the

whole, the upswing in commercial and residential space transaction

continues. The decision of the government to allow mutual funds to invest

in mortgage backed housing loan securities resulting in greater in flow of

funds into the housing and real estate sectors has boosted the activity in

housing sector .The interest rates on housing loans are at the lowest, income

tax sops are made for attraction and generally, the affordability has gone up.

This has resulted in good demand for apartments and independent

bungalows.


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MARKET SHARE OF REAL ESTATE IN INDIA

The size of the real estate industry in India is estimated to be around US$ 12 billion. As per

studies, this figure is growing at a pace of 30% for the last few years. Majority of the real estate

developed in India (almost 80%) is residential space and the rest comprise office, shopping

malls, hotels and hospitals. This incredible growth is mainly attributed to the off-shoring

business, including high-end technology consulting, call centers and software programming

houses. Evidently, this is the ideal time to invest in the country, even as the policy makers have

begun to emphasize on developing adequate infrastructure for the country.

After agriculture, the real estate sector is the second largest employment generator in India. The

persistent demand from the Information Technology (IT) sector has also impacted the urban

landscape in India. As per estimates, there is demand for 66 million square feet of IT space over

the next five years. Several multinational companies continue to move their operations to India

to make the most of lower costs of skilled manpower and logistics. Human resources being the

key element in the IT industry, the hiring and housing of people, both at their work place and

home, has assumed great significance. As such, there is a persistent need to create space for

people to work and live, which in turn sets off the growth of other allied infrastructure.

Though the real estate sector in India is asserted to be the most promising sector today, it is stillhugely plagued by market uncertainties and traditional inhibitions. The real estate market in

India mostly continues to remain unorganized, fairly fragmented, mostly characterized by small

players with local presence.

Major players

1. Future groups2. Mantri developers3. Confident group4. L&T ECC ltd


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origin of the organization

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