Aplomb and Nissi - Rare Saga of Early Success in Realty Sector
Daijiworld Media Network - Mangalore
Udupi, Sep 4: There is something about being young and in business that makes people look at you with some distrust especially in the volatile and challenging field of construction and real estate. The best way to overcome such a situation is to take it as a challenge with courage and with a touch of professionalism. Good performance will help obliterate the challenges of skepticism and credibility that often plagues young entrepreneurs.
The young duo of cousins-friends-turned business partners Macquin Monteiro and Joyan Lewis did exactly that to emerge as one of the promising promoters and developers in the temple city of Udupi. These youngsters who are in their early 20’s decided to take a plunge into real estate business in 2010 having only confidence as their main asset. They started with “Aplomb Builders & Developers” in 2010 and within six months floated another venture “Nissi Infinity”, one more real estate firm. Luckily for them they have been having a good run overcoming the initial hiccups of getting established and are now breathing easy. The first project of their venture Aplomb Ryana Apartments is getting completed and will be ready for occupation soon. The apartment is strategically located at Santhekatte Junction in Udupi and can be real value for the money invested.
Though the target line for the completion of this project was April 2013, it goes to the credit of these youngsters that they have completed the 51,000 sq feet 32 apartment project in just 16 months. For a fresher that kind of a record is an unusual accomplishment, which amply exhibits the competency and dedication with which they go about their task.
One may wonder what is it that prompted these youngsters to go in for not one but two companies in a short period of 1 year. Aplomb, says Macquin, mainly caters to the middle class people. It is an economy project whereas Nissi Infinity is targeting the upper middle class and the rich as no apartment is available for less than Rs. 50 lakhs.
It looks as though the duo possesses all the qualities of making it big in the real estate sector in Udupi if the pace at which work of their various projects is going on. Even before coming into the field they knew the nitty-gritty of the real estate business (having worked with other builders) and that gave them the initial push to start their own venture. “With 7 to 8 years of experience of working with other builders (worked while studying) we thought we had enough experience and confidence in ourselves to be successful. This confidence is what prompted us to take up the challenge. Being our own boss entails great responsibility but brings with it lot of freedom”, says Macquin Monteiro, Managing Director of Nissi Infinity, the loquacious of the two. He goes on to add: “there is an additional reward that comes with it apart from being our own boss in a business venture. There is the great feeling of accomplishment of having built an organization of our dreams and aspirations, that too from scratch. Moreover the potential reward sometimes far outweighs the risk involved in a business venture”.
Being young is quite not advantageous always especially in a field like real estate where transactions are carried out on trust and reputation. “Initially we had a tough time convincing people because we had a small office and we were so young (they are only 24 years old). People found it difficult to believe us in the early stages to trust us with their investment. But now it is like seeing believing and we have succeeded in creating public confidence. Of course we had to work doubly hard and many a time we were the first to arrive at the office and the last the leave. Now our projects speak for ourselves. ”, says Joyan Lewis, Director of Nissy Infinity.
When other builders and developers concentrated mostly on 2 or 3 BHK apartments in Udupi/Manipal the young duo got the cutting edge by giving emphasis to single and double bedroom apartments. The idea clicked and most of their apartments got sold as it is within the reach of the middle and lower middle class.
The second project of the duo is Ryana Horizon comprising 12 single bedroom and 8 two-bedroom premier apartments. Though the project is slated for completed in May 2013 they are well ahead in terms of completion of work. They have already sold 15 apartments in this project and there is lot of enquiries for the apartments Macquin says. Macquin also says that when other builders were selling at 2800 per sq ft they were able to sell at 2200 per sq feet by cutting down cost due to their personal supervision at the site.
Slew of Projects
The other major project in the pipeline is “The Icon” from Nissi Infinity, a gigantic luxury apartment project comprising 85 apartments located behind the New City Hospital in a one-acre plot. That is the only property available in that area and though it was eyed by many due to its strategic location Macquin and Joyan got hold of the prized property much to the envy of others. The Icon is designed by Simon & Associates of Bangalore, one of the top architects of Karnataka. “Icon is a challenge for us and we are definitely working hard to prove that we are here to stay and are committed to build superior quality homes. We don’t compromise on amenities and on quality under any circumstances. We have a track record of zero violations so that our clients don’t face problems in this regard”, assures Joyan Lewis.
The company has two major projects which be launched soon and will be completed within the next 2/3 years. “Atlantis” is coming in Manipal in a 5 acre plot and at the same time another prestigious project Kohinoor Mission is also going to come up in a 2 ½ acre of land. The duo has long term plan for the company and are even toying with the idea of diversification. They have plans to close Aplomb and continue only Nissi Infinity to provide better service. Diversification plan includes trying to get a foothold in our neighbouring state Goa where the kind of faculties available in the housing sector in Karnataka is missing, says Macquin. Macquin says they decided to get into the health sector “because we feel people have lost touch with values and humanity. We want to provide genuine kind of service rather than make people pay for unnecessary services in hospitals and that too with a humane approach. This is our way of trying to give back to the society from which we have gained”.
Both Joyan and Macquin are indebted to Jerry Dias of Mandovi Builders, the leading and well established builder of Udupi, for giving them the initial push they required by buying two of their flats and the money that came with the purchase was like a working capital for their company. The land for the first project belonged to one of the friends of the duo and they had decided to come out with a joint venture as they did not have money to invest on land. “We are also thankful to Badagabettu Credit Cooperative society for sanctioning us a loan of 1.5 crores just on the basis of trust”, Joyan recalls. Jerry Dias has also been kind enough to provide the youngsters an office at Mandavi Maridian, in the heart of the city in Udupi, which helped them change the company profile to a great extent.
Giving Back to Society
Both Joyan and Macquin are clear about where they want to see themselves in the next 10 years. It is not success alone that they are banking on to establish themselves firmly. Apart from living up to the reputation and maintaining public credibility they want to change the way people look at or treat builders. “Builders are considered as villains by people because they are able to make huge profits. But the amount of risk builders takes to be completely successful is quite high and if even one project gets jeopardized the builder will be in a big soup from which it might be difficult to come out”, reasons Joyan.
The young duo who look matured beyond their age are eager to advice the customers to ensure that the builder in question is a CREDAI member in which case it becomes easier to ensure that the builders don’t cheat on their customers.
With an attitude that speaks of determination and hard work combined with oodles of confidence and also the desire to see the well being of the society, the young duo Macquin and Joyan are sure to places in the days to come.
B1 / B2 Basement Floor,
Opp. Udupi Court, Udupi – 576 105
Macquin Monteiro: - +91 99016 92215
Joyan Lewis: - +91 98446 15740
Off: - +91 820 4298989
Email: - email@example.com
: - firstname.lastname@example.org
Website: - www.nissiinfinity.com