Kitne bade log hain ye.., thought the young Niranjan Hiranandani, MD of Hiranandani Group, when he used to see his father (Dr. Lakhumal Hiranand Hiranandani, an ENT surgeon and a recipient of the government of India's Padma Bhushan award) treats the likes of the Birla, Mafatal families. This was the beginning of an epiphany. "It was always there in the back of my mind, the world of business looks very attractive. My father had the biggest Indian business tycoons as his patients. When I used to see these big business men, I used to be overwhelmed. Ultimately, I got into the world of business and then realised that it's not just a cakewalk. Initially, I started with a power loom, we used to run a small factory in Kandivali in the suburbs of Mumbai and did a little investment into real estate, both did badly. So, I had to sell one, however, I didn't know which one to let go. Finally, I sold the textile unit, this helped me to plunge into real estate," said the MD.
According to India Brand Equity Foundation (IBEF) By 2040, the real estate market will grow to INR 65,000 crore ($ 9.30 billion) from INR 12,000 crore ($ 1.72 billion) in 2019. Real estate sector in India is expected to reach $ 1 trillion in market size by 2030, up from $ 200 billion in 2021 and contribute 13 per cent to the country's GDP by 2025. Retail, hospitality, and commercial real estate are also growing significantly, providing the much-needed infrastructure for India's growing needs. India's real estate sector is expected to expand to$ 5.8 trillion by 2047, contributing 15.5 per cent to the GDP from an existing share of 7.3 per cent. In India, the real estate sector is the second-highest employment generator, after the agriculture sector.
THE TECTONIC SHIFT
Diese Geschichte stammt aus der October 2024-Ausgabe von Entrepreneur magazine.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der October 2024-Ausgabe von Entrepreneur magazine.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Can't Turn Off Your Mind? AI Can Be An After-hours Professional Coach
AI is now the go-to-tool that helps you connect the dots in life. From learning a new language, to expanding on your professional development skills, AI can help support you with almost whatever you need.
Your Next Assistant May Be a Bot
For decades, we've been waiting for technology that can handle tedious, time-consuming tasks for us. Finally, we're on the verge of getting it.
HOW NIRANJAN HIRANANDANI CREATED THE 'REAL' ESTATE BUSINESS
Real estate was an accidental choice, ultimately I got into the world of business and then realised it's not just a cakewalk, says Niranjan Hiranandani, founder & chairman- Hiranandani Group
Why Govt Needs To Include Indigenous Large Firms In Chip Designing
Large indigenous chip design companies can achieve better economies of scale that would give an edge with respect to the cost competitiveness of chips
India's Ambition Of Becoming Global Hub In Aircraft Manufacturing Needs Minimum 20 Years: Experts
Better late than never. India's aviation history in manufacturing dates back to the 1940s: Hindustan Aeronautics Limited (HAL) began manufacturing aircraft in 1942 for Indian Air Force (IAF).
CHARACTERISTICS OF RESILIENT LEADERSHIP
From the race to embrace artificial intelligence (AI) to ever-mounting geopolitical concerns, the challenges faced by the CEOs of today are vast and complex. Alongside these external pressures, internal challenges such as upskilling the workforce and hybrid working are pushing CEOs to be agile and adaptable in their stakeholder management while also keeping an eye on long-term growth
PM E-DRIVE SCHEME
A GAME-CHANGER FOR ELECTRIC MOBILITY IN INDIA
The Quest for Unicorns
\"WHILE ACCURATE DATA IS DIFFICULT TO COME BY, VARIOUS ESTIMATES REVEAL THAT ABOUT 80 PER CENT OF UNICORNS ARE LOSS-MAKING.\"
India's Long-Term Goals for the Manufacturing Sector
\"MORE THAN 17 PER CENT OF THE COUNTRY'S GDP EMANATING FROM MANUFACTURING IS PROJECTED TO PROPEL MOST OF THIS GROWTH.\"
Lessons from a Seasoned Entrepreneur
From as early age, I've wanted to start something from scratch. Entrepreneurship is like a bug that bites you once, and the side effects stay forever. Despite the failures, naysayers, and selfdoubt, you can't help but give in to the voice that says, \"do it.\"
