The Visionary behind the Iconic Township
Dr. Niranjan Hiranandani is a testimonial of success as a global entrepreneur. Thanks to him, the word ‘Hiranandani’ has become synonymous with the epitome of luxurious comfort, with the capital of his kingdom being the iconic Hiranandani township in Mumbai. A true visionary, Niranjan bought 250 acres of land in Powai along with his brother in 1985 to build their dream of a township. Today, the Hiranandani Gardens stand as the pride of India and flagship of real estate perfection.
In four decades, Dr. Niranjan’s real estate group has spread wings all over the country with him emerging as an industry leader, policy maker, and educationist. At heart though, he continues to be an innovative entrepreneur who leads his team hands-on as the Managing Director of the Hiranandani Group of Companies.
Voted among Forbes 100 richest Indians, Niranjan is surprisingly a 1st generation entrepreneur. His father was a Padma Bhushan awardee ENT specialist- Dr. L. H. Hiranandani. After schooling, Niranjan studied Chartered Accountant as a formal academic education, following which he became an accounts teacher. He forayed into the textile business, but suffered losses. After facing certain hurdles and a labour union strike, he then decided to try his hands at real estate. “I was always passionate about being an entrepreneur and interned in various large business houses to learn and gain business acumen about various industries. Afterwards, I full fledgedly entered the real estate business.”
He started off with developing stand-alone and cluster buildings. But soon, realization dawned upon him to build something that would be timeless and sustainable in the long run. This is how the Hiranandani Group went on to become the first developers to envisage a mixed-use integrated township model in India. The 250+ acres land parcel offered the right open canvas to paint the future of Indian real estate.
Over the years, the Group received many accolades for being India’s foremost township. The Neo-classical style of architecture persistent in all their projects has received global attention. Speaking about the ‘Hiranandani home’, Dr. Niranjan says, “Superior quality, sustainability, precision engineering, timeless architecture, and robust civic infrastructure are the five key factors incorporated into our business strategy for a premium quality of living experience. ‘Customer Delight’ has been the mantra behind creating a customer experience which enriches the quality of life for homebuyers.”
The group enjoys a substantial land bank across major cities for the development of housing, commercial, data centre and warehousing projects. Speaking about the growth in the sector, Niranjan shares, “The real estate sector is one of the core sectors which contributes immensely towards the overall growth of the nation. It contributes nearly 7% towards GDP, has 270+ allied industries, and is the second largest employment generator. Therefore any further impetus will only help to boost economic growth.”
This is especially true in the post pandemic world. During Covid, the industry faced issues like labour migration, liquidity crisis, lockdown induced restriction, and haulting of raw material supply. “With the support of my team, we quickly managed to adopt changes towards digitalization. We looked after the migrant labour workforce and started off with completing projects on time,” recalls Niranjan.
Apart from construction, the group has also diversified into horticulture, hospitality, entertainment, retail, and education – like the Niranjan Hiranandani School of Real Estate. Dr. Niranjan puts it down to work ethic: “I have always been a workaholic with a passion to do something new with each project and task. My goal is to get better than your past self with each milestone achieved.”
More than the destination, Niranjan is passionate about the journey that teaches one invaluable lessons and makes the process a momentous voyage. His passion has seen him honoured at the highest echelons of achievement. In addition to infinite awards, he is the CMD of Hiranandani Communities, National Vice Chairman of NAREDCO, Provost-HSNC University, and Ex President-ASSOCHAM.
What are the strengths that have helped him reach for the stars? “Open mindedness, a positive mindset, focus and determination, being a constant learner, a bottom-up approach in management style, learning from mistakes, and having a friendly team approach are some of my key strengths,” he tells us.
Leaving us with a message for today’s youth, he says: “A flower cannot bloom in the shadow of a banyan tree. Likewise, for young aspirants to grow in life, it is imperative to let them go under the sun, work hard, and learn from their experiences. It is only through one’s mistakes that one can excel in life. A protective environment will hinder one’s growth trajectory.”