Ravetkar Housing
Lead:
Residential apartments were built in place of the Chawls or Wadas 25 to 30 years back. These buildings were usually 3 to 4 storey, and it used to suffice then. The increasing population compelled buildings to be multistoried. The old buildings had to be repaired from time to time. The redevelopment work was the need of the hour. This is the story of Ravetkar Housing, a leading name in redevelopment business.
Matter:
“We handed over our building to Ravetkars because we trust them. We are going to return to our own home after some time. Amol Ravetkar was available to talk to us. And that gave us a comfortable feeling. ” Jayashree said after getting back in her home. This is a rare event in the case of builders. This reputation created curiosity in my mind about Ravetkars. I realized that this is not only the story of a successful builder but also of a businessman who has an emotional bond with his customers. The president of Ravetkar Housing and Executive Director Amol Ravetkar, has unfolded this story.
The situation of the construction profession was not very good at the beginning of the 20th century in big cities like Pune. Amol Ravetkar took the risk of entering this profession at such a critical time, and today he has proved himself. He took the first step to expand his father’s company ‘Ajit Ravetkar and company’ in January 2000. He was confident in his skills and ready for hard work. Amol is a Computer Engineer and wanted to start his own business. He had observed his father’s business since childhood. The skill of handling workers, his immense knowledge of this business made Amol envious. His father did not think it was a good idea for Amol to join this profession as it was going through an awful state. Ajit Ravetkar had to take compulsory rest due to health problems when Amol was in the last year of Engineering.
Amol started going to sites in the absence of his father and took an interest in the work. This, however, remained limited for only some time. According to his father’s advice, Amol started his own software company called ‘Logic DN’ in 2003. Electronic and Telecommunication field was stabilizing in India. The company that was started along with three friends and was making progress. But the friends left the company one by one for better prospects. This became a turning point for Amol. Without getting nervous, Amol started his company ‘Ravetkar housing’ in 2005 with his father’s blessings and guidance.
He required 3 to 4 years to settle down in the business. Since the investment was huge, there were trust issues. Investors were not convinced. Amol kept on trying. The idea of redevelopment was being discussed everywhere in Pune. Many Vadas were available in Pune for redevelopment.
Considering the future and scope of this idea, Amol decided to focus on it. In 2009 an investor agreed to work with him, but he also wanted a partnership. Two projects, ‘Tulips’ and ‘Pournima’ started. They were a chance for Amol to prove himself as he was new in this field. He had to face a lot of problems in this project. The investor suddenly withdrew his investment when the work started. Amol decided to complete the projects still.
He raised money from the market and completed the work. ‘This person will anyhow complete the project’; this became his image in the market. Even after completing these two projects, Amol did not earn any profit, as he had raised money from the market. These projects started in 2010 and were completed in 2012, and his journey started in the real sense.
Today, Ravetkar Housing is on the peak of success. The supervisors, office boys who were there with him when he started the company are still working with him. He believes that when making progress in business, everyone associated with the company also must make progress. He has completed more than 22 projects until now. Currently, he is busy with projects like Sukhniwas, Suvarna, Manali, 70 West Avenue, Anjali Kunj etc. and finalization of 5-6 projects is going on.
The customer is emotionally attached to his home, and this is a significant consideration in redevelopment projects. The customer has used all his earnings while buying the house. They have to be taken into a new residence for some time until their home gets redeveloped. They need a good person to talk to them about the changes. Amol handles these situations very well, and he is always available to speak or solve queries. This is the main reason why Ravetkar Housing is different from other business houses. All employees and customers have easy access to Amol. Amol gained trust of the customers and employees by this gesture. Not only redevelopment but even for new schemes, Amol explains everything properly and creates a comfortable environment.
Amol chose this risky and strenuous path of redevelopment, but with his hard work, he became successful in it. Amol says, “This type of work requires time; completion of documentation, knowledge required for redevelopment, communication between the customer and developer, the good word about previous work, all this must be completed for a proper transaction.” Many customers cannot convey their requirement correctly. The developer has to understand their needs and then act accordingly; this makes the customer happy and gives the developer immense satisfaction.
Amol pays minute attention to quality and speed of work. He believes there should be no compromise in these things, and that is how he says he has achieved trust from his customers. ‘Ravetkar Housing’ is a leading name in the construction business. Various projects of Ravetkar Housing are going on in prime locations of Pune. Ravetkar Housing implements the ideas only after studying the psyche of residents, facilities to be provided to them etc. The outlook of the new generation towards life has changed. They need everything instantly. Earlier shopping used to be a family affair. However, in the era of technology, shopping can be done anywhere anytime using online mode. Instead of going home and preparing food, this generation orders food online. The changing psyche of people must be understood by businessmen in this field too and should make changes in their working style. Ravetkar feels that after investing all the income and savings into your home, it is a feeling of pleasure to see the progress of construction. People now prefer to move in ‘ready to move’ homes. Financial planning is very crucial in this business. The businessmen must do proper preparation of the funds and have rolling capital, the capital assigned for specific projects must be used for the same project only. If the business is managed properly there is a lot of opportunity in this field, Amol says.
Amol feels positive about the current recession in this field. Usually, the rate for residences is more than the market price, but during the recession, it reduces by some per cent; however, it is higher compared to the market price. From the financial side, there is no adverse effect due to the recession. If the investment is long-term, a new business person can also survive in this situation. Fiscal discipline, proper planning, high quality and correct work progress are the things that Ravetkar has followed throughout the journey. That is the reason why Ravetkar could complete projects even in the recession. Taking benefit of the recession, new business people should enter this field. One can also prove oneself as an investor in this situation.
Amol’s wife, Aditi Ravetkar, supported him throughout the journey. She works in Cummins on a great post. Amol could reach heights of success with his father, Ajit Ravetkar’s, advice and guidance. Amol has a lot of respect for Satish Mhaskar. He is there since beginning with Ravetkar Housing when nobody was showing trust in Amol.
Amol tells the new businessmen entering this field, “There is money in this field if you have entered this field for money, there is a lot of work, everyone has scope for work. So, there is no point in competing with others. But you must decide to come to this field only if you are ready for hard work. The film industry and construction field are similar. There are money, fame and success in both fields. There is a lot of hard work in both fields. The products seem very easy and simple for outsiders. However, we are not aware of the hard work of many people associated with businesses. If your goal and objectives are clear, the path is then simple. There is progress if you are ready to learn from your mistakes. But if you repeat the same mistake, there is a need for self-introspection.”
Frame:
Redevelopment work of buildings is going on in cities on a large scale. So, there is a lot of opportunity in it, and there is competition too. To survive in the race, delivering within timelines, transparency in the business transactions are important, equally important is understanding that the customer has an emotional relationship with his home. If the business is done keeping that in mind, then the customer is satisfied and will automatically spread the word for your business.
Originally Published in Yashashwi Udyojak. Subscribe Today.
