Interview: Shiven Vikram Bhatia, Executive Director of Splendor Group

An interview with Shiven Vikram Bhatia, Executive Director of Splendor Group, a Premier Real Estate Developer

In our enlightening interview with Mr. Shiven Vikram Bhatia, Executive Director of Splendor Group, we explore his influential role in steering one of the premier real estate developers.

Bhatia shares insights into the company’s innovative approach to development, emphasizing its commitment to quality and sustainability. His leadership is instrumental in shaping Splendor Group’s vision and success in the competitive real estate market.

Can you share with us the journey of Splendor Group and its evolution in the real estate industry?

Shiven Vikram Bhatia: Splendor Group was founded over 40 years ago by H. Vikram Bhatia, a visionary entrepreneur with a deep passion for innovation and quality. In the late 1970s, Mr. Bhatia made the bold decision to relocate to Mumbai and Delhi, driven by a desire to make a significant impact in the real estate sector.

With a focus on creating spaces that blend functionality with cutting-edge design, he laid the groundwork for what has become a major force in real estate development, as well as in other sectors such as manufacturing, facility management, IT, and consultancy.

The Group’s journey began with its inaugural project, “Splendor House”—a 25,000 sq. ft. office building in South Delhi’s industrial area. Completed in 1987, this project was the starting point of Splendor Group’s mission to transform urban landscapes and contribute meaningfully to India’s real estate market.

Over the years, Splendor Group has broadened its horizons, expanding beyond commercial real estate to include residential and hospitality sectors.

Noteworthy projects like Hotel Dhanaulti Breeze and Hotel Solitaire Plaza, the latter being Mussoorie’s first star-rated hotel near the iconic Mall Road, highlighted the Group’s ability to innovate across different real estate categories.

Throughout the 1990s and early 2000s, Splendor Group cemented its reputation for delivering world-class projects that seamlessly integrate modern architecture with practical utility. Today, our portfolio includes luxury residential complexes, state-of-the-art commercial properties, and high-end hospitality projects.

With over 4 million square feet of completed developments in Delhi-NCR and more than 3 million square feet currently under construction, Splendor Group continues to be a dynamic player in the industry.

In recent years, we’ve also prioritized sustainability, incorporating green building practices, energy-efficient designs, and eco-friendly initiatives across our projects. Our aim is to create developments that are not only luxurious but also environmentally responsible.

Splendor Group’s journey from a single office building to a diversified real estate powerhouse is a testament to our commitment to transforming spaces, enhancing lives, and contributing to the nation’s growth.

Our rich history, expansive portfolio, and unwavering dedication to excellence make Splendor Group a leading name in India’s real estate landscape.

What sets Splendor Group apart from other players in the real estate sector?

Shiven Vikram Bhatia: Splendor Group has always distinguished itself in the real estate industry through a unique combination of innovation, quality, and a deep commitment to customer satisfaction.

Firstly, we have a proven track record that spans over four decades. Throughout this journey, we’ve delivered a wide array of successful projects across residential, commercial, and hospitality sectors.

Our legacy of excellence is a cornerstone of our identity, and it’s something that both investors and tenants recognize when they choose to partner with us.

Another key differentiator is our strong leasing history. We consistently achieve nearly full occupancy in all of our completed buildings, with a robust roster of tenants that includes multinational corporations and Grade A companies.

This not only underscores the quality and strategic location of our properties but also offers stability and long-term value to our investors. Our ability to attract and retain top-tier tenants is a testament to the desirability and functionality of our developments.

In terms of design, Splendor Group is known for pushing the boundaries of architecture and space utilization. Our projects are characterized by modern, innovative designs that maximize efficiency, such as large open floor plates and meticulously crafted retail spaces.

We ensure that our buildings are not only aesthetically pleasing but also highly functional, meeting the evolving needs of today’s businesses.

Sustainability is another area where we stand out. We’re committed to incorporating green building practices and energy-efficient systems into our projects. This focus on sustainability appeals to environmentally conscious tenants and aligns with the broader industry trend towards eco-friendly development.

Our customer-centric approach is also fundamental to what sets us apart. We design our spaces with the end-user in mind, ensuring that they are adaptable, functional, and aligned with the needs of modern businesses and residents. This approach has earned us a strong reputation for reliability and trustworthiness in the market.

Location is key in real estate, and we are very strategic about where we develop. Whether it’s commercial complexes in the heart of Gurugram or residential townships in Panipat, we ensure that our projects are in prime locations with excellent connectivity.

This not only enhances the value of our properties but also makes them highly desirable for tenants and buyers.

Lastly, our commitment to quality and timely delivery is non-negotiable. We maintain rigorous quality control processes and have a strong track record of delivering projects on time, which is crucial for maintaining trust and satisfaction among our customers.

In summary, it’s this combination of a proven track record, strong leasing history, innovative design, sustainability, customer focus, strategic locations, and a commitment to quality that truly sets Splendor Group apart in the competitive real estate landscape. We’re proud of the work we’ve done and remain committed to continuing to raise the bar in the industry.

How does Splendor Group approach sustainability and environmentally conscious practices in its real estate projects?

Shiven Vikram Bhatia: Splendor Group unequivocally endorses a sustainable and eco-conscious approach across all our projects, whether commercial or otherwise. Our commitment to sustainability goes far beyond mere lip service.

We actively promote and implement eco-friendly practices and materials across various platforms and in our developments.

This includes the use of sustainable architecture, innovative landscaping methods, solar energy, water-efficient technology, advanced HVAC systems, and Building Management Systems (BMS).

One of the key aspects of our planning is the integration of natural light in our complexes. By maximizing natural light, we not only improve the well-being and productivity of the people working in our buildings but also significantly reduce overall power consumption. This focus on energy efficiency is a core element of our design philosophy.

Additionally, we ensure that all our buildings adhere strictly to the environmental standards set at the time of construction. Most of our complexes have achieved LEED/IGBC certification, a testament to our commitment to green building practices.

Looking forward, we are setting even higher goals, with our upcoming projects aiming for higher LEED/IGBC certification, further solidifying our dedication to sustainability and environmental responsibility.

Our endeavors not only create a healing environment but also contribute significantly to energy conservation, the prevention of non-renewable resource wastage, and the advancement of energy-efficient technologies.

What innovative strategies does Splendor Group employ to stay ahead in a competitive market?

Shiven Vikram Bhatia: Splendor Group has built an inviolable foundation of trust and goodwill with our customers, channel partners, allied business group(s), and stakeholders. Our key strategy is to deliver exactly what we promise, and we pride ourselves on maintaining a high success rate in this regard.

In a world often marked by misalignments between principles and actions, Splendor Group has developed a prudent approach that focuses on delivering scalable results through meaningful actions. This strategy has enabled us to forge key partnerships, attract new customers, and gain significant traction in the market.

Additionally, our strategic expansion into different geographies and multiple asset classes has allowed us to diversify our offerings and cater to a broader market, ensuring that we remain competitive and relevant in an ever-evolving industry.

Could you highlight some of Splendor Group’s recent projects and their significance in the market?

Shiven Vikram Bhatia: Splendor Group is strategically developing projects in two of NCR’s emerging commercial hubs: the Noida Expressway and Golf Course Extension Road in Gurugram. On the Noida Expressway, we’re constructing ONYX, while in Gurugram, we’re developing Epitome and 62nd Avenue.

Construction is progressing rapidly in these prime locations, which have become top choices for corporates. Alongside our commercial ventures, we’re expanding our residential portfolio with projects like Splendor Grande in Panipat and AeroCity in Amritsar, addressing the growing housing demand in these developing regions.

Our unique approach combines residential and commercial projects in strategically chosen, high-demand locations. This diverse portfolio not only meets market needs but also contributes to the rapid growth of these areas.

This strategy positions Splendor Group as a key player in both sectors, demonstrating our adaptability to evolving market trends and our commitment to holistic development.

Can you provide insights into Splendor Group’s future plans and upcoming projects?

Shiven Vikram Bhatia: We are planning to expand further in the commercial and retail real estate sector and launch projects in different parts of the National Capital Region. As and when the appropriate time comes, we will make formal announcements about the same.

What advice would you give to aspiring individuals looking to enter the real estate industry based on your experiences with Splendor Group?

Shiven Vikram Bhatia: I understand the allure and potential of entering the dynamic world of real estate. To aspiring entrepreneurs eyeing this industry, I would suggest educating yourself relentlessly. Knowledge is your greatest asset in navigating the complexities of real estate transactions, market trends, and regulations.

Secondly, cultivate a strong network of professionals including channel partners, contractors, and financiers; these relationships will be invaluable in facilitating deals and overcoming obstacles. Thirdly, embrace innovation and adaptability.

The real estate landscape is ever-evolving, and those who can anticipate and capitalize on emerging trends will thrive. Lastly, patience and perseverance are key. Success in real estate often requires long-term vision and persistence through challenges.

By approaching this field with diligence, creativity, and resilience, aspiring entrepreneurs can unlock the boundless opportunities that real estate offers.

Mr. Shiven Vikram Bhatia’s forward-thinking approach at Splendor Group highlights his dedication to excellence in real estate development. His focus on quality and sustainability positions the company as a leader in the industry, setting new standards and driving growth.

Bhatia’s strategic vision not only enhances the company’s market presence but also reflects a commitment to creating lasting value in the real estate sector.

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