One of the leading real estate developers of North India, Supertech enjoys the distinction of converting more than 33 million sq.ft. of residential and commercial entities. With 40 ongoing projects worth Rs. 14,000 crore in hand, the company has over 75 million sq.ft. under construction. In North India, Supertech has a major presence in the states of Uttarakhand, Uttar Pradesh and Haryana and in South India, it is constructing a project in Bengaluru. In conversation with IMAGES Group, R.K. Arora, CMD of Supertech, talks about the firm’s strategy and innovations in the real estate market.
Inception and journey
Supertech’s Shopprix Mall, Noida, which is also one of the oldest malls in Noida, came into being in 2003. At that time, Noida was not fully developed as a city and the concept of a shopping mall was very new. Hence, when the mall, which is situated in the middle of the IT & ITES industry, came in to being, it became a popular hangout point for workers from the IT industry as well as residents of the nearby newly developed residential sectors.
Supertech has 7 malls in Tier-II and -III towns out of which Shopprix Mall Vaishali, Shopprix Mall Kaushambi, Shopprix Mall Noida and The Pentagon Mall Haridwar are complete and operational, while the remaining Shopprix Mall Meerut, Metropolis Mall Rudrapur, and Esquare Noida are under construction.
Arora says: “The company is developing projects in different verticals of real estate like residential, townships, commercial, retail, office spaces and hospitality. The growing industries, corporate and MNCs in tier-II and -III areas have proved to be an added advantage to retailers and developers to set up malls aiming at the people residing in these areas as well as to the people who come to these cities for work and travel. In addition, with growing mall culture people from these cities will also now enjoy shopping experience similar to one that prevails in the metros. Looking at the maintenance cost and the footfall potentials, smaller malls are advisable in smaller towns. In these towns, a 1,50,000 sq.ft. size mall is considered ideal.”
Explaining the company’s plans for retail real estate business, Arora says: “Supertech malls have been receiving overwhelming response from both retailers and customers. Since we envisage a good demand from Tier-II and -III cities, we are looking forward to come up with more development in retail real estate business.”
Design and catchment area
Malls are designed according to the entertainment centres, wich comprise multiplexes, hotels, etc., keeping in mind the potentials of the location. A 5 sq.km area can be considered a catchment area. According to Arora, the ideal size for a mall depends very much on the type of the city it is in, location of the mall, average income of residents nearby and many other factors.
Key facilities provided for shoppers
Talking about the upcoming Shopprix Mall in Meerut, Arora points out: “The mall is spread over 4,80,000 sq.ft.. It is fully air-conditioned, with a 3-screen multiplex comprising 30,000 sq.ft. and huge food court to cater all taste buds. Having top-of-the-line brands, Shopprix realises the long-discussed novel idea of a mall hotel by having a 4-star hotel, Country Inn & Suites, of 85 rooms and a business hotel, Hyphen, in the mall. Modern management services, 100 percent power backup, huge basement and surface parking space, and top-quality safety systems are key features of the mall.”
To cater to the needs of the inhabitants of Meerut, the mall also has the Meerut Haat, Jewellery Mart, sports good shops and 20,000 sq.ft. of area reserved for kids’ zone, ensuring that there is something for everyone. The USP of Shopprix lies in its S-shaped atrium, great tenant mix, classic interiors, and large-scale corridors, which make every stall and shop stand out from the crowd.
Supertech has already converted more than 33 million sq.ft. of residential and commercial entities.
Innovation in the real estate market
“Supertech Limited is the first real estate developer to introduce a new innovation in construction called the Precast Technology. Considering the challenges faced in traditional style of construction, Supertech, after immense research and effort, has launched this technology under the brand name of Supertech Precast Technology Private Limited,” asserts Arora.
The real estate and construction industry forms an imperative place in the Indian economy with incomparable contribution of 8–10 percent in the GDP. At present, the global economy is facing severe slowdown followed by cash crunch and disturbing developmental targets of economies world over. So, in the prevailing scenario, infrastructure remains a top priority for addressing development gaps, as it is considered most potent with a potential of lifting economy from the slump.
According to Arora: “To escalate the developmental process and expansion of our towns and cities, there is a greater need for faster deliverables and lower costs in the construction industry. In such a scenario, technology that can be trusted, that is cost-effective and that has unvarying quality is the need of the hour. Thus, the technologies of ‘Precast’ and ‘Jump Form’ have been introduced in the sector.”
Supertech will also offer the technology to other players in the industry for the construction of high rise, low rise, villas, townships and many more structures.
Arora also spoke about the need for such a technology and explained how it works. He said: “In precast construction, the structures are not made of mortar and cement but of beams, columns, panels, slabs and standard concrete. This concrete is cast into a reusable mould, cured and then along with the beams, slabs, panels and columns is transported to the construction site and erected to form a structure. Such construction does not need plastering, as the surface made is very smooth and requires very less maintenance. The technology strengthens the overall solidness of the house much more than a traditional house. With the use of this technology, a hindrance-free construction can be carried out in any season saving up to 64 percent of time as compared to the construction time of a brick house.”
“Another very important mechanism in the construction industry is the jump form. By introducing the jump form technology, the construction process of high-rise buildings can be fastened, as it is able to add one floor in every half an hour. A versatile formwork system minimises the need for different components, thus meeting and exceeding the demands of the modern-day job site in a simple way. Fewer individual components ultimately lead to faster forming,” concluded Arora.
These new age construction practices are considered to be revolutionary methods in the construction industry. These are widely used in the construction of high-rise buildings, flyovers, theatres, and dams.
* The use of precast technology expedites the construction work.
* The quality of the construction is better, compared to the normal method.
* Better health and safety measures are arranged and managed at the building site.
* It is independent of weather conditions.
* The precast panels help in creating bigger carpet area.
* The use of this technology does not need plastering because it makes the surface very smooth.
* The external structural frame is constructed normally within six floors of the core.
* Internal slabs and stairs can be constructed with the core walls.
* Site personnel are protected at all times from falling and from strong winds when working at height due to the fact that both the working level and one or two levels immediately below are completely enclosed by panels.
These technologies are collectively and actively being used in Europe, Dubai, Malaysia, Singapore and many other countries worldwide and have now started to gain momentum in India. Given these advantages, techniques can be incorporated in the construction of bigger projects in India so that it helps construction companies in delivering better results, which ultimately will help the people at large.