Dr. Hiranandani - The KING Of Real Estate Business Worth 12000 Crores | FO 116 - Raj Shamani

buying or renting which is better. because. my recommendation to every person is. that you must buy your house even if it. is small that Capital creation you can. never create in any other business home. will never become obsolete a home is a. home it's a need so this industry will. never die you can be rest assured that. if you are in the food business if you. are in the clothing business or you are. in this and you understand the ropes of.

that business you can never lose out you. only feel that Indian consumers are very. price sensitive quality is an essential. minimum need in fact anybody who makes a. bad quality building should be hanged. what's the price of this apartment. today's episode is with a real estate. billionaire the person who started from. scratch and today is one of the richest. real estate billionaires in the country.

says.

to understand how a billionaire thinks. to understand how to capture every. opportunity and how to go from zero to. becoming super successful in your. industry if you are interested in any of. this then today's episode is really.

important for you and before you enjoy. the show please go subscribe Channel. enjoy the show. sir welcome to figuring out. you were the first generation. entrepreneur in the real estate business.

right or about difficulty usually. family wealthy businesses. and the real estate is a very family. driven because both Capital intensive. experience intensive and there are a lot. of different kind of pressures. if you're in a in a real estate business. yeah so how and why real estate it's a.

long story actually uh when I was young. my father doctor ENT specialist. Award winner my elder brother who's 10. years older to me also studying to be a. doctor and I looked up to him I was. quite afraid. God they work so hard in their lives. I didn't want to work so hard so I. wanted to take a little easy. so I took up Commerce I did my bcom and. arts was not my subject maybe I found.

that easier but it I was not cut out for. art so I took up Commerce as a default. and uh but once I entered College there. was always the thing to look up to in. terms of my father was so iconic I. couldn't be a failure in my Commerce so. I did study in the last year and I stood. second in the University of Mumbai but I. was always keen on doing business. because my father had lots of patients. who were very eminent businessmen the.

muffet laws the billas the tatas the. mahindras all these senior people were. my father's patients okay and I always. looked up to them I said my God look at. them you know iconic people so I wanted. to be something like that iconic I. didn't know what what I what it was and. what it meant to do the business of. business because in our family we hardly. ever discussed the issue of business we. didn't know the your business anyway. after bcom my father persuaded me to do. by CA also I did I was a teacher for a.

year in the Institute of Chartered. Accountants and I started with the. textile Factory in charcoal gandivali. and this was done because I also. articled uh two years during my Commerce. career to work in gwalioron and Century. Mills and uh so I thought I would do. that and we got into problems and I. started with almost 200 parlums there. and we did a little dappling in real. estate.

uh over a period of time both the. businesses were doing badly I've almost. failed in both I had to sell one. business didn't know what to sell. this story happened that I got a notice. from the union of the uh of my uh palum. Factory asking for a hundred percent. increase in wages okay I said 100. increase in. which people. the romance.

the Mills and all that used to charge. more and we worked on the aperture of. labor costs anyway that persuaded me. that I could sell my real estate my uh. fact country which was uh this thing and. I got in full fledged into real estate. then I realized that now that I have. failed and I've gotten to real estate I. can't now afford to fail because my. father and brother all professionally.

doing very well. so got into real estate with small. Capital uh. hardly 10 lakhs Rupees less than 10. lakhs or rupees and started very small. extension of a building and other things. rest is history. let's let's elaborate history now. okay before we actually talk more about. real estate. you know YouTube.

about rent versus Buy. I want to know it from you okay. in Mumbai or in Metro cities this is a. trend now picking up especially a lot of. YouTubers or let's say ca's online are. coming and being. so rent karna is more beneficial for you. in the long run than buying a house. because people usually say up. Banks.

so what do you think buying or renting. which is better can I give a little. longer story 100 hmm. foreign.

earlier it was six and a half percent if. you bought that house and paid. installments. with the tax benefit that you get so a. combination of Social Security of.

getting a minimum house is imperative. for every Indian to do if he can afford. it. second yes rental per there is nothing. wrong with rental there has to be. rentals. um. recommendation that every person in. India must try within its capacity to be.

a house. today home loans are available to most. of the people at very very economical. rates as compared to any other rate in. the marketplace the the Home Loans are. available and it is recommended to buy. buy a small house fire studio apartment. buy a one bedroom whatever you can. afford buy it it doesn't matter so that. that social security security is. available to you in a lifetime. however not everybody can afford a.

rental house in a place where you have. got work yeah and there's nothing wrong. in rental so world over you have people. who buy houses and there are people who. rent it. my recommendation to every person is. that you must buy your house even if it. is small even if it is in your home. place or wherever it is but always buy. it that Capital creation you can never. create in any other business so that. okay Capital creation okay so first is.

you said. buy versus rent the debate is let's say. technically not worthy enough to discuss. qk. the point is not Logic the point is. security yes like it's not so you must. you must get your security after you. have your security you rent out doesn't. matter you don't even have to stay in. the house you stayed I mean you bought. you can buy a house in a place and rent. out in some other B place but at least. you have a security house.

societies were not allowing other. relatives to come to stay with you and. people like that so if parents were. staying in a house and suddenly their. additional people came societies were. objecting so there were a lot of. problems as far this is concerned number. two which has happened is that people. are now wanting bigger and better houses. post covet yeah so it's not only the the. rent versus buy it is buy and buy a.

bigger house than what you actually. foreign. and that's so I think that's overall not. just in real estate that's the whole. India sentiment now. bigger lifestyle they wanna the. aspiration class is getting bigger oh. the aspiration class is beginning.

getting bigger everywhere so if you go. to the mall you'll find that people want. a bigger and better you go and see cars. being sold they want little bigger and. greater so in all fields of activity. thanks to the growth and GDP growth. income levels which have improved and. [Music]. [Music].

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per month. so and I no Bank was there no banks gave. to any Builders at that time when we. started so I had done borrowing at that. name thing but we repaid all the loans. we never defaulted and thank God for. that but you were you this this person. Joe he map profits.

let me save it for next 10 years 20. years and keep saving it so well when I. was young I only wanted to grow big. big bigger bigger bigger bigger. that aspiration is gone I don't want to. become bigger okay but I want to become. better.

um. [Music]. you know that was there and I worked. towards it and I worked very very hard. and we did succeed thank God but today. if you ask me. uh I am on a different route completely. it's always how can I better myself how. can I better my products how can I. better my relationship with my customer.

it's quite different. I don't even think I don't even have a. wink to think that way the whole. perception has changed and uh. I think I'm a changed person in that. sense of the term completely but there. was a big fire in the belly today there. is a fire in the belly but for different. ways completely different you know like. I want to do things better and better. the same things different things and I'm.

really happy to do that so you have an. interesting question again now that you. know so much about your field about. industry. here. up next project your next big thing or. the next better thing. and I'll tell you why I'm asking this. question right. when you're young and when you're on the. field. s opportunity.

but as you keep growing upcast was a. blockers because the blocker can be. let's say you are in your own world. you've created own world and you have. whole day scheduled design the. observations. you can't do that so what's the process. to choose the next better thing or the. next big thing for you how do you know.

what is the process to get those. opportunities where you know okay this. is the next thing for me you have to. keep the year to the ground you meet the. right people you meet people who have. more knowledge than you have people who. are into the world of Consulting those. who are in the field of knowing better. than you and there are so many of them. so I always interact with them always. want to know what they are doing and. even in the business or business where. I'm supposed to be a king. I'm always learning I'm always improving.

myself. so my construction quality is constantly. improving my uh you know methodology of. construction is changing that's an Ever. growing process it's an Ever growing. part so there's never going to be. something where once you get it once you. are habituated to be a learner you will. always learn. if you have a glass ceiling or you have. blinkers you can't see left you can't. see right you can't see anybody and you.

don't want to learn because you are. successful. but there's a problem the problem is. that the people around you. are fixed that we have become successful. because in the last 20 years we have. worked this way hmm. what problems. we have to make the changes we have to. improve we have to go forward we have to. do new things you can't rely on the.

success of yesterday in order to live. today or tomorrow hmm. it's very difficult because people. they don't want to. want to and the moment you don't want to. change you are go on the downside. take a company like Kodak the best the. best in the in the world. they were the first one to have digital. patents in digital technology. but they decided no we don't want to. change we don't want to make any changes.

whatsoever because we have to protect. films and we have to protect this that. and the other for whatever good reason. and they got wiped out Polaroid did the. same so if you don't improve and if you. don't change if you don't move to the. next level. uh the world will pass you by. interesting you know are you inspired by. Polaroid or codec by any chance because. you know I tell you why uh so I heard. the founder of Polaroid saying that we. are not a technology company we are a.

mixture of Liberal Arts and Technology. together. and that's what you believe in and. that's the reason why Polaroid is it's. not just a camera it's a beautiful. looking picture absolutely do you. believe in that because your societies. look beautiful as well are you a liberal. arts fan I'm not a liberal art fan to be. honest with you I'm a very logical. person. but I have emotion at heart so some. things you know like when I saw pawai. first everybody said.

but I could dream it and it became what. it is and everybody told me that I was. wrong and I was mistaken and I should. not buy it and I should not do it and. it's too far and it's wrong and my. Architects told me my lawyers told me my. people told me but somehow that. something inside me told me that no this. is my gut field tell me that is my place. and actually it came out of a default I.

made 11 buildings in lokanwala complex. okay and every time I finished a. building I made a nice building. considering those days and I went into. the building and I looked out. the roads were bad no street lights no. storm water drains no proper water. supply. no Greens in that area totally nothing. and I was building 11 buildings and Mr. Loken while I was Building 250 buildings. and other developers put together we're. building another 100 building so I. formed an association.

I became the secretary Mr locarnel. became the president and Mr balawalkar. who was the owner originally of the land. became the chairman and we I initiated. street lights the water supply the straw. motor drains and the sewage line there. in order to give facility to all the 300. plus buildings. and every time I finished a building I. was so unhappy because everything around. me was not good so I decided I'll have.

makeup in a place I next time I do. anything I'll make in a place where. I had. the roads are buying the gardens are. mine this is the uh the school is mine. the hospital is buying the retail is. commercial is mine my residential is my. everything is mine and my house is also. mine. so what happened is this was kind of a. feeling which I got that you know so. probably was about that Tana was not.

like that Tana was a thought process. that I think I thought the future could. be on that direction I wasn't as equally. passionate about Tami and but now of. course it's become very successful so. people say. age. but I I I don't think that was any. passion I just thought that it was a. good location in a large project area. which you can't get in the Mumbai City. so so it worked out so it worked out.

well for me really okay I have a. question on this because he said you. entered data you were in like you. thought let me have sewage roadways. Gardens everything around. and usually there's a saying which of. tried to understand a pattern between. almost all successful people and. multi-million as a billionaires right in. the country. it's they align their businesses with. national interest. okay so if you look at so whatever the.

current government or the next 10 years. of the of the whole country's focus is. on they try to align their businesses. with that because the growth is faster. than for example. India is right now one India wants to. say that hey I want to connect the whole. India with roadways so if you are in. Road business. their obsolete amount of opportunities. for you because it's just there right. and you kind of do that so do you think. of this as well like what is National. interest right now let me align my.

opportunities with them and then I'll. grow faster do you do that of course but. this is even better than that okay my. story is better than that story which I. talk about because after. foreign.

the need for homes will never grow. the Kodak photography camera may become. obsolete by technology but home will. never become obsolete a home is a home. it's a need so this industry will never. die. it'll change it'll improve but you can.

be rest assured that if you are in the. food business if you are in the clothing. business or you are in this and you. understand the ropes of that business. you can never lose out you don't have to. worry about the government of course the. government policies in terms of uh. interest rates in terms of other things. and now the prime PM awas yojana all. these giving subsidies for the poorest. of poor is of course thing which we see. and we do get take benefit of the.

policies which are happening but in the. home sector. it is important to know what the. government is doing and where it's going. to do like yeah metro area Bridge.

um. so all that is important for us to know. in order to see the size and scale of. those projects and identification of. that so the answer is yes but not. completely so in real estate. I reveal this business will keep. thriving regardless. this is thriving I don't know okay that. depends on again policies wealth of the. nation GDP growth of the country if GDP.

grows. homes who demand will shoot up. because. everybody would like to have a house. which is there whether on rent or. ownership but you'll want a house so I. have to build that. so. I believe GDP of India will continue to. grow and it's ahead of the world already. but we will grow to double digit do GDP. growth in two years do you believe that. we our GDP will get doubled or 2.5 x in. the next five years for sure. for sure for sure so we'll be around 7.

trillion yeah yeah. five trillion seven trillion Wheels. there is no difficulty see we don't know. what are the external circumstances. which will happen. like Russia Ukraine war has taken place. suppose China is some war with Korea and. some other disturbance takes place then. we will have a setback but with the kind. of leadership we have with Mr Modi and. the kind of things the growth story that.

we have I have no doubt even one percent. that this GDP is going to grow so the. India aspiration will continue to grow. in business business not people will be. more wealthier that is important yeah. some money or any other person is not. important it is the wealth of the nation. and the multiplier effect which the. people the common people will also. benefit to do it whether in terms of. employment whether in terms of wealth. whether in terms of facilities.

all that is important for every father. watching this right without what are the. three. what are the three signs that you see in. your kid and you feel like you're okay. I can rely on this person now. never happens. so all the kids are gonna hate me now my.

father will always have that problem and. the sun will be 100 sure that he can. make it without his father yeah so both. the things are equally true and equally. untrue. because the newness of the Young. Generation is so important for growth. technology is changing you cannot. imagine the amount of Technology I'm. using now in the last three four years. it is completely changed the way I run. my company the way the whole thing is.

done so if I didn't do this change I. should hand over to my son yesterday. because I'm not adapting to change so. the the sun is always ready to take over. in that sense of the term but you should. not forget that the maturity of. experience of the father is also. important to learn not to copy foreign.

never copy anybody. I have so many mentors in my life in. construction in technology and other. things I never copy them I emulate them. I learn from them and then I adapt it to. my own issue. see the the architecture of these. buildings. they are a certain character. but they actually my own character. because we have modified the. architecture to such an extent that. worldwide this character the code the.

architecture is what international Old. School of Architecture but in reality we. have adapted it so much that it's now a. hiridandani created architecture it's. very different so you'll never see any. building like this in the whole world. which is similar to this but it is. actually a copy of a a idea taken from. there modified and used it in our. position so I always look up to my. mentors. people who might consider as gurus in.

every field of activity that you do and. I pick up ideas from them I don't copy. them let's say person a tomorrow I go. start a housing project okay and I was. like. not the 500 also here so let's say 550. acreage and I want to go bigger and I. get the best engineers get the best team. in the world and come up come up with a. while. very good concept.

do you think that only money. can beat. let's say if there is VC money some. Japanese investor put in money in me and. I was like okay here's your billion. dollars. go absolutely dominate the market do you. think. I'll be then able to dominate and become. better than let's say or anyone if just. the money is the factor no I I can make. this Successful by making a tweak of. your model okay. you bring the money.

we identify the project. you run the whole thing and you give me. a development manager model. I run it for you and it's your money. it's your thing success is failure is. yours and I as a development manager. will run your thing and I'll take a fee. for it. so the same thing which you're saying. will not succeed what you're saying will. not succeed because you don't have the. expertise the expertise or the. Enterprise or the ability to handle all.

these aspects of it at stage one but you. tie up with the hiranandani and I will. do your I will become your development. manager you get the land. I will help you with the concept. I will run it for you and I'll charge. fee. so you so I I mean it's the same thing. which you have said but I've only. changed one thing and made you. successful as getting an expert on board. getting a person who will run it for a.

fee I'll run it for you. but do you think that that can be. like I can do the same thing if I get. few experts in-house let's say no and a. senior manager or a senior CBO or CEO to. run this you're more likely to fail than. succeed because you really see Good. Times anybody can manage any business. can be run in good times because. everything is growing up up up up up so. you also manage to do it the problem is.

once in five years you business at that. time you fail because there you need the. expertise of a person who understands. how to handle the downside of the market. Capital markets.

so that the question is in the business. of business the person can any person. can make money you can make money I can. make money anyone can make money. investor whoever it is who doesn't have. any idea he can pick up in enough. service elements to do it in the market. it's a wave you right the wave. but no that would be the foolish thing. to do but tie up with the person who. would be able to actually handle that. part of it you have the money you have. the expertise and I have the capability.

of managing your entire thing you pay me. a development fee and I'll do it for you. interesting so you know why I asked this. question because a lot of people say. this that the only thing they they don't. have is money right now they'll do. everything yeah. this is the only generation where money. is not in short supply. why would you say that there was there. is in the good old days money was the. real constraint today VC funding is.

there IPOs are there the reads are there. angel funding is there everything is. available in fact money this is the time. where money is the easiest in the last. 20 years Home Loans unbelievable. the growth which is taking place of Home. Loans is unbelievable in India. is the fastest growing sector in the. world. home loans and it will continue to grow. in the next couple of years you will see. this happen so I don't see that as a.

money is not a constraint if money is uh. uh the thing but you know what people. want is. hmm. you know that that is not going to. happen. first thing that you said that you. wanted to build an apartment or you. wanted to build a Township which has. zero leakage right and you've been able. to do that for the last 10 years. 30 years 30 years so for last 30 years. you've been able to provide apartments.

with zero leakage and every year you add. up a new thing which makes your. apartment better because you feel that. every feature that you add that becomes. Foundation by the next year right don't. you think that adds up to the price of. course it does so. when that adds up to the price. don't you feel that Indian consumers are. very price sensitive so if you add up. and you make it let's say 10 or 15 or 20. more expensive than the average. apartment do you feel that you won't be.

able to sell it because India is a price. sensitive country of course you're. absolutely right but try and understand. there are about 200 buildings in Mumbai. which are 30 years old which required to. be demolished and redeveloped. these buildings will last a hundred. years without leaking. it's not expensive it's cheap. unless you don't do that and don't. believe in quality. if you make concrete road like Bombay.

Puna Road was recommended to do in. Asphalt. I was part of that committee which. decided to make it in concrete. by now in 20 years you would have redone. that Road 50 times because you know. what's the quality of Bombay Puna roads. here are only three kilometers out of. 169 kilometers required repairs. which is cheaper. the permanent good quality concrete road. or is it going to be roads which are.

things which require potholes which are. constantly creating problems for you. quality is an essential minimum. you can't afford bad quality in anything. in the world. you don't have to make and you don't. have to put marble you don't have to put. that kind of expensive amenities but. quality product Quality Concrete. how can waterproofing how can you not do.

it. even for my government buildings which. we have made they always compliment me. that you have made such strong buildings. and all that but. I mean that is a basic minimum quality. is something which we should never. consider expensive quality is cheap. not expensive and we have to learn to do. yes amenities are expensive you want a. swimming pool you want the uh you know. jacuzzi you want all the other amenities.

um automated lights on and off and all. those things which you want to do a. clubhouse which is expensive today you. don't want that it's okay you can. shortchange that how can you make bad. quality building. in fact anybody who makes a bad quality. building should be hanged. [Laughter]. that's your perspective it's not a. perspective it's a deed no I agree. number three needs to do that and we.

need to think like that only yeah you. know I mean we we have to stop thinking. that uh you can afford to make bad. quality roads or bad quality anything I. think all the people who are making bad. quality stuff and all that should be. eliminated from this country because you. can't afford to make bad quality. anything can you make bad quality food. also just because you want to make it. cheaper you want people to die because. of bad quality food. why should they be got bad quality. anything that in this country we have to. eliminate bad quality completely anybody.

who makes bad quality thanks to Rara at. least there are certain restrictions. that have already come but even. otherwise why should we make bad quality. anything I can't I can't understand that. whether it's a pin or a pencil or a pen. or clothes or whatever it is. I think we have to start thinking that. India is quality conscious you know and. people should say It's Made in India. that's why it's good quality. hmm.

that shift has to come it has to come. and the prime minister's day just go and. see Parliament House go and see the. convention center you'll understand what. quality is beautiful. buildings you can't even imagine that. government is constructed it's so. beautiful. but that is what is important to know. and we have to do it. nothing should be made by the. corporation which is not the best. quality.

do you feel now it's time that Indians. will pay for it. if you deliver good quality expensive. good quality is cheap please say that. bad quality is expensive it will last. you five days your roads will break your. tires will get spoiled your travel time. will increase some okay but if you make. good roads you will travel faster your. roads your cars will be better your.

motorcycles will be better your Cycles. will be better you'll be safer people. will die less on the roads you won't. have a problem when it rains. but the moment you say you want cheap so. you want bad roads huh. I'm not willing to even hear such a. thing. and I'm glad that. this also doesn't hear such things huh. no it's good it's good. Yogi adityanath doesn't like it I met. him and he says.

foreign. yes absolutely. just hear him when he talks like that. okay. um. foreign.

Ty no compromise on people give them the. best. India deserves it our people deserve it. we must get it. foreign.

is there any project or any Concept in. your head would you feel like one day I. wish somebody does it in the country or.

maybe you want to do it something you. feel is not logical but you would want. to see it. it's five years to remove every slum in. Mumbai. I drafted the scheme for balicep thakare. I am the signatory on that scheme along. with Mr absolpur who was then the chief. secretary and we worked out that we. should eliminate slums in Mumbai and I. was part of that. committee. uh we can do it and uh.

we just have to take it off. and what would happen to the people who. live in slums we'll rehabitate them. it's possible to do. is it and. so what's the usual problem when this. kind of project happens there's no. problem. uh you need a person passionate enough. to just focus on it and just do it. we made the cross Harbor Bridge which is. only 40 years behind 50 52 years behind.

the idea concept of across the harbor. we've done it the coastal Road was so. long back the Metro came in the last. five years. yeah the whole of slums Mumbai can get. out in five years. so do you think that their lives and. their livelihood and the things that. they do now you can take care of. is done everywhere in the world we will. not provide enough jobs we have done in. Singapore we have done in China we've. done in so many countries of the world. we've done in Central America and so.

many places uh there's no there's no. reason because land is so valuable in. India that uh if you remove the Joe. properties and use half the land for the. rest of it in terms of development and. sale it's possible to do so yeah. individually private developers who were. doing it have proved to be incapable of. doing it but I think the governments now. should take over and step over ticket of. course Mr adani is doing the Ravi so I'm. hoping that he will also do that part of. it very successful but there are so many. more Islam besides the Ravi and we.

should eliminate it and. I would see that it is done and it's. possible to do. so under your leadership you can make it. possible how quick yes how quick if. there's a five years. five years and you will eliminate. everything you can. and I'll make money out of it for the.

government I don't want any penny for. myself. um I'll make. 20 000 crores profit that's amazing like. that's 20 000 crores and that government. can use it to build build infrastructure. and services. but the only question was emotions of. the people that is there no you need a. person who says I will do this. like Mr gutkary says I will make 35. kilometers of national highway per day. and he did it. of course under the prime minister's.

blessings but he did it there's no. problem about it what's the craziest. thing you've bought or the most. expensive thing you bought for yourself. just no logic just like I wanted to have. it maybe a house maybe a yacht or a. private jet or I'm going to share a. story short one. I about 18 17 18 years my office was at. Santa Cruz Saraswati Road I landed from. Delhi I was director hudco and I landed.

in the morning and got into a taxi uh. because my car don't come or whatever. and I my office was Saraswati road which. was hardly two kilometers away. and I got into the taxi and I said. Saraswati Road either so the taxi driver. gave me a galley. um. why are you talking like this so he said. you know yeah.

foreign.

I thought the Watchman would take my bag. he wouldn't take my bag so I paid the. Rickshaw man and I picked the bag and I. started walking up the steps to do it he. suddenly realized I am niranjani because. and I happily made it and I was very.

happy with it but even the person who's. my own Watchman didn't recognize me. because I got down from the Rickshaw and. for a for at least maybe 15 30 seconds. you know he was quite unaware then he. rushed to pick up Mac. sorry I'm very happy about what you know. the myself actually all these things I. don't care but I also travel in a. Bentley another car so don't. misunderstand that I don't have good.

things in life and that's not true no. that's for sure you have it I'm like but. there has to be one point in life. when you wanted to get bigger and bigger. okay I want to this is my son bought a. helicopter for me hmm. you give to do that he bought well. actually he wanted it for his pipeline. but he he did give it to me and he said. you use it but I hardly ever used it and. if the pipeline project is over so we've. sold the helicopter but you know I. hardly traveled a couple of times in it.

I wasn't even enabled to really travel. into it so I actually to be honest with. you all these things don't matter to you. now even then I don't think that. helicopter was 10 years ago so I mean. didn't really bother. that's that's refreshing to hear yeah. that is maybe maybe my needs are less my. wife's needs are even lesser than mine. so really to be honest with very very. content uh couple how do you invest your. money that's a very interesting question.

at the level where you are. super high. so give me a percentage I'm not okay. don't tell me exactly number of what you. do but think of let's say if you have. 100 rupees where would you put like 50. 20 30 how would you do that 75 80. percent of my money is in the business. of business okay so it all goes Circle. within that business whether in the new. businesses within the old businesses all. that your individual money your business. is individual money goes into the.

business of businesses so I don't have. much of the separate monies and all that. ten percent of money is kept in. liquidity which is there because when. buckets go down you need funds for. yourself or whatever it is and all you. do it and another 10 is kept within the. system of the real estate which is not. actually required for immediate funding. but. the markets change you need this thing. new opportunities come my way so about. 10 is there but 80 which is the major.

part of your funding all goes into the. business of business and there's growth. all the time taking place. so we grow by leaps and founds because. we put in back into the business. so you don't. you don't invest in let's say stocks. no maybe quarter of one percent. of my wealth maybe one percent. real estate gives better returns and. stocks no it's my passion I mean if TCS. price goes up or Reliance goes up and.

all that I will look at it and I'll say. I made more money it's better to have. less money but on your own money not. giving me a thrill about it I I've never. looked at. its chairs value incidentally I've never. valued myself that's interesting never. you've never gotten your valuation done. no the market keeps valuing me but I've. never done it. was it was the craziest rumor you've. heard about yourself or that I've got 20.

000 crores that may be reality no why. don't I don't know but somebody else. told me I'm 32 000. oh okay yeah. so I really don't know whether this is. correct or that is correct or basis of. the valuation what's funny like do you. feel that oh this is too little that's. why it's funny or you're like oh they. have no idea what's going on. I keep on finding out how did they value. it. but you know the question is not that. the question is I am the same my.

business is the same and uh today I'm. value data X tomorrow I'm valued at 2X. and tomorrow I'm valued at half an X. how does it make a difference to me in. the last 15 years of my life I my my. expenses have not gone up. they may have gone up because of. inflation but I haven't really got. anything which are more expensive or. personal use which is more expensive I.

think maybe five years ago I spent more. money on myself than I do today for. example so it's not a question of that. and it doesn't really make a difference. to me because I'm wealthier that I will. spend more I'm not going to buy a your. third plane or helicopter whatever it is. but the the point is if you're not going. to do all that then all this is. meaningless if you just looking at a. number that I want to be bigger than. that Builder all I want to be bigger. than this industrialist not I don't. think it has meaning to me.

or maybe to be honest let me be fair. maybe it's lost meaning 20 years ago uh. used to be that right now maybe at that. time I would be very excited if somebody. told me that you're worth exercise 5000. crores wow. and I'd like everybody to know also you. know. it neither has any mean to me not to uh. if anybody expresses it also I just you. know yes were you ever excited there's a. there's a term in in U.S and Silicon.

Valley they call it three comma Club no. the three comma Club what's that the. three comma Club means you have made it. to billion dollars okay right and people. get excited about it that hey after my. tech company exit I've got into a three. comma club now and it's a feeling that. only. 0.01 people in the world can ever say or. feel like that so are you ever excited. at any point the only time I remember. the billion dollar transaction was what. I sold commercial properties to. Brookfield about six years ago or seven. years ago and it you know splashed over.

it and I said wow billion dollars you. know I have a check which came in so I. mean I was pretty excited about it I. think I was excited at that time uh but. it doesn't last long it's just uh. um a few minutes okay do you go to. around the world and you look at the. best properties and you get you get. inspired which one was your favorite. property in the world. which is like damn this project is. really good I wish we had something you.

know one of the earliest ones I really. liked was Singapore okay and uh what in. Singapore. again maybe 30 years ago I went to. Singapore. and one thing they showed me was a new. Township okay and you know what they did. they first had the road. they had the railroad Metro connecting. to that new place. the. essential work to be done a police.

station a proposed hospital to come up. immediately before the first buildings. in that Township would happen. and that's how I really thought of the. Township in pawai. so one of my earlier days when I came to. pawai and I come from Singapore I. realized that you know you had to create. a good infrastructure if you. want to do a Township while in India we. first make a Township and then we create. the infrastructure then we bring the. Metro then we bring the road then you.

bring everything else while Singapore. was one of those things I've been to. townships in China. fantastic but the size in scale was so. enormous that really difficult to. emulate but fantastically large. townships and all that but you know. there it is totalitarian regime so when. they want to clean up Shanghai they. don't have to wait for 40 years 50 years. to do it they don't need anybody else to.

come and call for tenders seven times to. do a dharavi or clear the slums and all. that they just clear it I think there's. no equivalent as far as China is. concerned but I think China is also done. it Dubai has done a huge amount of. infrastructure in development and I look. up to that so always seen infrastructure. always seen. developments buildings uh things like. that I I still do that you do that do. you have you heard about this project.

that Saudi Arabia is building the. vertical right you do you know more. about it like no I don't know the. details I think I've probably seen the. same video and uh but it's fantastic I. mean you know new things new ideas New. Concepts and new things are things which. we really need in the country I saw the. Bharat mandapam uh in Delhi the new. Convention Center which was inaugurated. by the Prime Minister last week.

about. the one yeah just beautiful I saw. Parliament House also two months before. what a building I mean it's really. beautiful so we can make beautiful. things and now and which we're probably. not being done so much before uh 35. kilometers of national highway per day. that we make uh we are going to make 330. kilometers of Metro in Mumbai in the. next two years uh in 70 years we had 190. kilometers of suburban rail Western.

Railway Central Railway and harbor line. and now we are going to add next two. years 330 kilometers of Metro so I think. you know we're doing a great impressive. forward-looking and infrastructure is. going to be very important for the. country the fun question ending is Sir. what's the price of this apartment. to be honest I don't know what do you. think this kind of apartment in Mumbai. how much would you get it for I really. don't know to be honest with you I never.

I told you I never value myself if you. had to think well be a part of 50 crores. but I really don't know the figure. if you go to buy it it would cost you. maybe twice as much but that's. somewhere around it nope it's my home. and house so yes it's part of the thing. and it's part of your townships it's. part of my Township too and uh so it's. really not no clue. actually I never thought of it. now we do this we started let's start a.

new rumor today what do you think is. maybe I'll get a better offer yeah. do you see those reels where people are. like shandar balcony yeah we do it. sometimes. okay that did interesting thank you so. much for being here thank you so much. for thank you for giving us. little. anecdotes Gyan stories and perspective.

and I hope that you enjoyed thank you. thank you thank you so much for watching. this episode till the end please let us. know in the comments if you like this. guest and you want us to do more of. these kind of guests or no so that we. can serve you better and come up with. better content which helps you achieve. your Indian dream. before you leave the episode like. subscribe comment and share it at least. with one person just because. conversations.

because one idea is enough to turn. around your life. your people's life your family's life. and your countries. progression as well. until the next episode keep figuring. [Music].