Saturday, August 2, 2008

T. Chitty Babu

"Today our earning capacity has grown. There are newer cars, and newer homes. But the state of infrastructure leaves a lot to be desired. Alongside, we also need rules that enforce a better utilisation of the available infrastructure."
T. Chitty Babu, MD, Akshaya Homes P Ltd, Chennai
August 2,

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Akshaya Homes is part of the Chennai-based Akshaya group, promoted by Mr. T Chitty Babu. Mr. Babu set up a partnership firm, Akshaya Structurals, in 1995, to undertake civil construction on contract basis. In 1998, the group commenced real estate development through Akshaya Homes, its sole proprietorship firm. AHPL was incorporated in 2005 as a private limited company to undertake real estate development. In 2006-07 (refers to financial year, April 1 to March 31), the group registered revenues of Rs.263 million.


The promoter’s experience of over two decades in land acquisition, property development, and marketing strategies has driven the Akshaya group’s strong growth over the years. The Akshaya group has sound development strategies, characterized by effective land acquisition strategy, strong project execution skills, standardized workflow processes, strong marketing initiatives, and a customer-focused approach. It has received ISO 9001:2000 certification for quality management systems and ISO 14001:2004 certification for compliance with environmental regulations. The group develops land only after clear titles have been duly established and risk assessments have been conducted. The group has strengthened its execution capabilities by outsourcing construction and monitoring of projects to reputed contractors and consultants. It has tied up with various agencies for domestic and overseas marketing of projects. The Akshaya group’s customer-centric initiatives include post-sale maintenance of buildings, improving awareness regarding property safeguards, assistance in customer documentation, and transparency in practices.

Akshaya has been growing exponently in 06-07. Akshaya was one of the first few companies who launched projects on OMR and GST road. A fully furnished model home is build before the commencement of any project so that the customers have the experience of touch and feel of their dream home. Akshaya had clocked 100 crores last year (06-07). This financial year they expect to touch 350 crores. The company is also foraying into new markets which includes Bangalore, Hyderabad, Coimbatore, Madurai and Trichy. To meet this aggressive growth plan Akshaya will be doubling their workforce from a 60 member team to a 120 member team with an investment of 25 crores towards technology, manpower and infrastructure.


CRISIL RATING


Akshaya was accredited by CRISIL with a CRISIL DA 3 Certificate for its continuous focus on quality, strength and affirmation to social values. Recently CRISIL had revised its developer rating on Akshaya Homes to ‘DA3+’ from ‘DA3’ .The rating indicates that the firm’s track record in executing real estate projects as per specified quality levels within the stipulated time schedule, and its ability to transfer clear titles are ‘good’. CRISIL has combined the financial profiles of Akshaya Homes and Akshaya Homes Pvt Ltd (AHPL), which together constitute the Akshaya group, as part of this rating exercise. This is because both entities conduct real estate development, and share a common management along with common strategies and resources. The rating upgrade has been driven by the group’s continued customer-focused initiatives and an improving financial risk profile.

CNBC CRISIL REAL ESTATE AWARD 2007

Akshaya adheres to strict CMDA norms and absolute clarity of title which are some of the traits that differentiate Akshaya from the rest for which they were recently awarded the CNBC CRISIL REAL ESTATE AWARD 2007.Over 200 hundred companies participated of which two builders were shortlisted from South India. Akshaya was awarded for the Best Legal Systems which was presented by the Hon’lbe.Jaypal Reddy, Minister for Information and Broadcasting, Govt of India in Mumbai recently.

AKSHAYA HOME FACTS


Akshaya Homes has introduced Akshaya Home Facts to enlighten the home seekers about the rights regarding diverse aspects and to educate them on the intricate details in purchasing a property or an apartment, regardless of the choice of Builder. Akshaya Homes also conducts a workshop to educate the customers wherein ‘Akshaya Home Facts’ a series of 25 Home facts compiled into a booklet will be given to the customer for free before the workshop and each of these facts will be explained in detail to the customers.



PROJECTS

G2 - Gandhi Square, Habitat, Stanz’Part, Adair, Adora, Maiolica, Metropolis, Halton –Coimbatore, 47 cents, Ashton, Domain E, Villa Windermere, Trichy Road- Coimbatore, Belvedere,

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Source:
Santhosh Zachariah
Principal Consultant
Adroit Public Relations(P)Ltd
+91.98412.51015
Chennai