Keen to avoid the ‘oversupply mistake’
Land, capital and execution skills — most players in the real-estate business come armed with the first of the three considered mandatory to break through in the business.
But Mr Prakash Gurbaxani, CEO, QVC Realty, the countrys first private equity-backed real-estate start-up firm, unlike most of his competitors, dived into the brick and mortar world with the second — capital — and built a team that could execute its plans.
Mr Gurbaxani, a new-age entrepreneur and founder of 24×7, explaining his shift from IT-enabled services (ITES) to realty, says in 2005 he realised that the real-estate sector would see a sea change in the way it operates: from a fragmented, traditionally owned business, to a more professional and competitive operation. With deregulation, the supply-demand constraints will go away and customers will have more choice than ever before.
More : thehindubusinessline.com