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Taking on the CEO role of a company at a historic juncture, with lofty ambitions to reshape its product offering, is far from an easy assignment. It is fortunate, then, that Abhishek Kapoor, CEO of Indian real estate heavyweights My Home Constructions, has an appetite for transformation.
“For me personally, it’s always been about having a mindset of growth and scale,” Kapoor tells The CEO Magazine.
“Given the strength of the company and the aspiration it has for strategic expansion, there is a lot of alignment. We are already one of the region’s largest property developers, but we are now looking to take the next step.”
Founded in Hyderabad in 1981 by Jupally Rameswar Rao, My Home Constructions’ story is inextricably tied to the city, making its name with residential property developments.
“Hyderabad has a huge upside potential – the infrastructure of the city is phenomenal. If you drive into and around Hyderabad, you will see the size and scale of it,” he says.
“But the city needs to start spreading out. So, the challenge is to ensure it grows out of the concentrated development in western Hyderabad.”
Although its legacy is predominantly in residential developments, the company’s long-term objective is to diversify its product portfolio. Upon Kapoor’s arrival, My Home Construction had announced plans to invest more than US$2 billion across Bengaluru, Mumbai and Chennai for mixed-use developments comprising residential, commercial and retail developments.
“The size and scale of the organization are much larger than I initially thought. It is a diversified institution with multiple business interests like cement, power, media, logistics, entertainment and education,” he says.
“My agenda has been to really focus on the expansion strategy to bring growth opportunities to the organization.”
As well as expanding its presence in its home city of Hyderabad, Kapoor’s leadership mandate is to achieve growth in the mega metropolises of Mumbai, Bengaluru and Chennai.
“All properties will be of scale – either residentially focused or mixed use,” he says.
“A long-term objective is that at least 25–30 percent of our portfolio should become commercial and other income-generating, usable asset classes. This becomes a new independent platform that provides annuity returns on those investments as we grow, such as retail or hotels.”
Kapoor knows that in order to achieve his bold objectives as CEO of My Home Constructions, he needs a vision that will galvanize both new customers and his team.
“How we take our company to the next level has two perspectives. The first is growing the business without compromising the value system,” he says.
“We have to carry the brand’s values over into new markets and deliver on those same values.”
To ensure the organization continues to provide for customers, he explains, it must have a dynamic organizational culture internally.
“As a leader, you try to use your experience to oversee an organizational culture that implements systems and processes capable of handling scale in multi-geographic, multi-asset categories,” Kapoor explains.
“Ultimately organizations are people. People’s acceptance, transformation and then their influence in an organization are the biggest factors that can enable the growth of an organization.
“You have to unify the team with the leadership of the organization and be able to work symbiotically. It’s a big part of strategy, knowing exactly what you want to do and aligning everybody with that strategy. That’s what creates the foundation for the future.”
“Hyderabad has a huge upside potential – the infrastructure of the city is phenomenal.”
With the company’s mission to provide people with high-quality living environments, it would be remiss of them not to be concerned with the impact of climate change. Air pollution in India contributes to an estimated 2.1 million deaths a year and costs its economy approximately US$95 billion annually.
“When you’re carrying out development, you have to make the lowest impact possible,” Kapoor says of the company’s sustainability focus.
“For example, Grava Commercial Park in Hyderabad has one of the best carbon footprint benchmarks in the world. You need to think about how your consumption impacts nature and implement the efficient utilization of power and water.
“Added to this is, after development, our projects have a self-sustaining recycling capability. Therefore, you’re continuing to use fewer resources, and you’re creating a situation, which is greener, safer and more energy efficient.”
My Home Constructions’ vision for the future involves continuing its successful collaboration with key partners such as VK Group, which Kapoor explains is crucial for its operations.
“Every vendor is very important. We have built these powerful relations over time,” he says.
“If both partners are constantly reasonable and they’re building on each other’s strengths, it will continue this growth. This organization has been growing successfully, and if you look at our vendors, suppliers, contractors – all of them have grown with us.”
Continuing this shared growth remains the top priority of Kapoor’s leadership.
“The strategy is to make the right investments in the right markets at the right time,” he summarizes. “It’s both an opportunity and a challenge. Expanding operations in a new market while holding the value system and the organization’s culture requires focused effort.”
“Expanding operations in a new market while holding the value system and the organization’s culture requires focused effort.”
The way to overcome this, Kapoor believes, is leadership that is inclusive to ensure alignment to a single vision while embracing new technology and fostering self-development.
“The impact that I as a leader want is professionalizing, structuring and creating a culture that can be more accepting of innovation and technology,” he says.
“And at the same time, never losing the trust of my team of people and taking them along the journey.”
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