Commitment to objectivity

Mr Rohtas Goel, Chairman and MD, Omaxe Ltd, in a discussion with the Retailer talks about mall projects and future of malls in India

Retailer: How do you define Omaxe Limited?

Rohtas Goel (RG): Omaxe Ltd is one of India's largest real estate and construction companies with operations in 10 states and 30 cities of  India. The company started operations in 1989 and is involved in residential and commercial real estate development projects ranging from integrated townships, group housing, retail and other commercial properties, hotels, information technology and bio-tech parks to special economic zones and other infrastructure projects. With 18 years of experience in construction and contracting business, the company has completed over 120 construction projects.

Retailer: Which are the various real estate projects you are involved in?

RG: Currently, Omaxe has land bank of approximately 3,400 acres with development rights besides 57 residential and commercial projects comprising one hotel, 21 group housing projects, 16 integrated townships, 15 shopping malls and four commercial complexes.

Omaxe is one of the developers to conceptualise and develop theme malls like wedding mall (one stop shop for all wedding requirements in Gurgaon, Patiala and Agra) and House 2 Home mall (one stop shop for  all interior requirements to convert house into homes) in Gurgaon.

Retailer: What do you observe when finalising location of your malls?

RG: While finalising the location, we keep in mind to provide customised solutions carefully tailored to client's needs. We pay close attention to basic facilities like accessibility and local trend.

With global experience with top companies in virtually every industry, we offer the most sophisticated financial and quantitative capabilities, constantly leading edge research into geographic trends critical to businesses and a commitment to objectivity.

Retailer: What are the brands present in your malls?

Today, our malls house many famous brands as anchor tenants. They include Reliance Retail, Lifestyle, Pyramid, Ritu Wears and Odyssey.

Retailer: Have you been able to deliver your malls in time?

RG: Keeping in mind the timely delivery of our projects, Omaxe have always lived up to the expectations of their esteemed customers by delivering the project on time.  Proper planning and necessary approvals at the right time are the reasons behind the successful on-time delivery of Omaxe. We deliver the mall within 30 months after signing the buyer agreement.

Retailer: What keeps your malls off failures?

RG:  To prevent failures, malls built by Omaxe are strategically located. They have state-of–the-art infrastructure, lighting and fire protection systems and offer most of the known brands available under one roof.

Retailer: What makes Omax unwavering in competitions?

RG: To remain competitive, Omaxe offers state-of-the-art residential and commercial projects. We give great importance to customer's suggestion and requirement to build up more customised products. Omaxe does not feel any kind of threat from any competitor for it has ,by now, established its position as one of India's largest real estate and construction companies that deliver state-of-the-art residential and commercial complexes of international quality to their customers. We are targeting all metro cities for expansion.

Retailer: How do you envisage the future of shopping malls in India?

RG: The Indian urban consumer is also now getting hooked to this new method of shopping that combines family outings and entertainment into it. Rising incomes and busier lifestyles are creating the space for malls in the lives of the urban mass affluent. The secret of the lure of malls lies in their mass appeal. India's mall culture seems set to grow exponentially in the next few years.