M3M: Building an Enduring Brand With Brand Capital
The Board Meeting opened exactly as expected. After the welcome note, the usual cautious-sounding commentary from members and experts followed. It covered topics related to the uncertain regulatory environment, sluggishness in the economy and difficulties in working with financial institutions. But, the heavy fog of concern soon lifted as Pankaj, in his inimitable positive style, shared the last quarter’s results. With pride, he pointed out that for the previous eight quarters in a row; the group had been witnessing healthy growth in revenues and profits. He said, “At M3M, volatility in the larger environment is being transformed into opportunities by keeping a sharp focus on the evolving needs of our customers.” Everyone in the room knew that the real estate industry had been served a severe blow in the last few years; and appreciated that M3M group stood out as a beacon of success.
At the core of M3M trailblazing history has been the attitude and approach of its Director, Mr. Pankaj Bansal. As one of India’s youngest and enterprising directors, Pankaj demonstrates an excellent balance between sharp business acumen and exuberance of youth. He has successfully designed and executed the growth and diversification plans of the company with a customer-focus and forward-thinking approach. Early in his career, Pankaj understood that economic cycles are here to stay, and despite the gloom and doom created by these fluctuations, there is always opportunity in the face of adversity. Changing demographics can be a segue to develop new market segments; technological advances can help the business reach exponential scale, and volatility can be a trigger to develop strategies that keep the group closer to its customers.
Ajay Batra, Director of Bennett Hatchery, and author of Startups and Beyond: Building Enduring Organizations, comments that M3M’s mindset of building a lasting brand and a respected institution is admirable. He says, “The group’s approach to balance the long-term with the short-term, and to keep an equal focus on business outcomes while building an inclusive culture are typical hallmarks of an enduring organization.” So, which characteristics of an enduring organization does M3M demonstrate? Ajay answers:
- PERFORMANCE ORIENTATION : Because they are sharply customer-centric in their strategies and execution, enduring organizations produce exceptional products or services for their customers while delivering great financial and non-financial results for their shareholders.
- ECOSYSTEM BUILDING: Enduring organizations focus not just on themselves, but also others in the ecosystem. They see themselves as an integral part of society. Hence as they grow, they take their employees, communities, partners, and customers along with them.
- SELF-RENEWAL: Enduring organizations are lean and mean learning machines. Continuous innovations – incremental and breakthrough – are common in their culture, enabling them to outlive cycles of business, social and economic disruptions.
- HUMANE VALUES:Enduring organizations define, and live by, values that are humane, just and ecologically responsible. Such values help their employees know what they stand for and guide them in moments of crises.
M3M group’s partnership with Brand Capital, the strategic investment arm of The Times Group, has ensured that their path-breaking market innovations reflect strongly in its brand building strategies. Specifically, the partnership has helped in delivering high-decibel campaigns using impactful formats like Glazed NewsPrint Jackets, Centre Spreads, first-of-its-kind online property bidding campaign on Magic Bricks.
Mr. Pankaj Bansal is committed to building an enduring and world-class organization by hiring the best of people and motivating all to become entrepreneurs in their areas of work. This highly-motivated team of over 500 professionals is moving forward to create one of the best corporates in the Real Estate industry.
M3M India takes a lot of pride in bringing the Trump brand to Delhi-NCR, a residential development, at the prime Golf Course Extension Road of Gurugram.
Regarding area, over 1 million sq. mtr. of projects were delivered by M3M last year, making it one of the largest real estate conglomerates across the country. Approx. 1.3 million sq. mtr. of area is under development. The group recorded sales close to Rs 3,700 crore across its projects in Gurugram during the last year making it North India’s fastest growing developer. Mr. Pankaj Bansal has been instrumental in the Group signing some path-breaking deals with: DLF Group in 2012 worth Rs. 440 crore, Shapoorji Pallonji and Co. Ltd. in 2014 worth Rs. 116 crore, Sahara Group in 2016 worth Rs. 1211 crore and Tata Realty and Infrastructure Ltd. and Standard Chartered Private Equity worth Rs. 500 crore.
Source : ET