Engineering a realty dream

MEET YOUR ENTREPRENEUR

As one enters the office of Gokul Narne, director of Narne Group of Companies, one does not find pictures or models of buildings, but a poster which reads 'Nuclear Engineering'. Unusual it might seem in a real estate office, but that's what he is by profession.

Son of colonel (retired) Narne Ranga Rao, chairman and managing director of Narne Group, Gokul did his masters in chemical engineering with specialisation in nuclear technology at University of Illinois in the US. From a chemical engineer to a real estate entrepreneur, how did the transition happen?

"It was 'wild thinking' on my part. Initially, I thought of only bombs and missiles, and wanted to do something in that area. But when I returned to India in 1997, I joined my brother-in-law, who was expanding his petro-chemical project, and worked with him for about three years. Later, I developed a keen interest in my father's business activities and joined him. Also my priority to lighten my father's burden made me join the group," says Gokul.

Apart from helping his father in his business activities, Gokul also involves himself in designing software tools to help ease his father's burden.

Gokul is now planning something big on his own. At present, he is working on a 42-acre integrated township near Medchal.

"After three years of planning, we launched this project in December. First, we test-marketed it by selling a three-acre space. One-third of the area was booked in just one month," he says.

"The township is envisaged as a Rs 200-crore project. People can either buy land and develop it themselves or use our services. At present, the seed capital on the land is ours. The funds will be generated as and when people start booking land there. The township project is expected to be completed in five years,"he says.

On the genesis of Narne Estates, Gokul says: "The foray into real estate was not planned. In 1977, when my father was still in the Army and stationed at Gunrock in Secunderabad, he wanted to build a house for himself. He discussed his dream of owning a house with his friends. They all agreed and wanted to join in. A total of 36 acres was purchased at Rs 53 per square yard. Thus was born the Gunrock Co-operative Society. When my father started building the house, he used the best possible resources available at that time. This was appreciated by one and all and they too used the same system for their houses,"Gokul reminisces.

"Next came the project at Bibinagar. My father bought 100 acres of land in the first phase at about Rs 10,000 an acre at Bibinagar for setting up an industry. At the same time, many of his colleagues in the Army too wanted land which would help them settle down after retirement. So the land that was meant for an industry turned out to be a real estate venture. Today, we have six sectors and have about 4,000 acres there. Two more sectors are in the pipeline. This site was called the East City. Today we have more than 20,000 customers with most of them from the armed forces,"he says. The turnover of Narne real estates is around Rs 15 crore.

"Many see this land barren today. But in the next five years, things will start moving here. This is because many of those who purchased the land were captains or junior commissioned officers (JCOs) then and today they are still in service as generals, brigadiers and so on,"Gokul says.

Gokul's motto is to take the company ahead from what it is today. "Though I will not be able to give you the exact turnover of the company, we sell over 1,000 plots a month,"he says, adding, "I want Narne to be a household name. My father and I believe that a good lifestyle is not at all expensive and that everybody is entitled to it. And that is what Narne stands for,"Gokul says.

Gokul's hobbies are also centred around the real estate business. He says that at present he is learning more on pre-carting methods which are rarely used in the construction process. "I also like to play basketball or swim," he adds.

"Ninety-nine per cent work and one per cent fun"is what one of my professors at Illinois said and that's what drives me to work continuously, he says.

"Perfection, which is what my parents are, and a smile on my customer's face gives me satisfaction and that is what I want to achieve,"he says.