[ecis2016.org] Sobha has emerged as the ‘Brand Leader of Indian real estate’ for the 5th consecutive year, with Embassy very close behind at 2nd, according to Track2Realty’s BrandXReport 2018-19, with five of the top 10 brands from Bengaluru

Sobha Limited has been recognised as the Top National Realty Brand across asset class in India, by Track2Realty’s BrandXReport 2018-19. This is the 5th consecutive year that Sobha has been conferred with the National Brand Leadership of Indian real estate. Embassy has jumped from its last fiscal ranking at number 5 to number 2 now, with a brand score of just 0.4 behind Sobha. Godrej Properties has retained its brand rank as 3rd-best brand at the national level. Bengaluru-based Prestige Group not only loses its 2nd ranking to Embassy but drops two places to number 4 this fiscal. K Raheja Corp jumped from 8th position to 5th position.

You are reading: Sobha voted top national real estate brand for the 5th consecutive year: Track2Realty BrandXReport 2018-19

Brigade Group was at the 6th position from its previous rank at 9. Mumbai-based Oberoi Realty and Piramal Realty were at 8th and 10th places, respectively. Piramal Realty entered the elite list of brand leaders for the first time. DLF Limited was the only brand from north India to figure among the top 10 national brands, at 7th place. The biggest loss of brand equity at the national level was with Puravankara Limited, which dropped to number 9 this year, after remaining at number 4 in the previous two consecutive years. Lodha Group went out of the list of top 10 national brands, in the wake of consumer complaints. Adani Realty was also very close to the top 10 national brands this fiscal year but could not make it.

The comprehensive Brand Perception Audit Report recognised Sobha as the top national realty brand, top brand in south India, top brand in residential space, top brand in super luxury segment and its compact luxury sub-brand Sobha Dream Series as the top brand in affordable homes. Speaking on the occasion, Ravi Menon, chairman of Sobha Limited said, “We are delighted to be recognised as the top brand nationally by Track2Realty – BrandXReport for the 5th consecutive year. Over the last five years, we have been continuously improving our brand leadership score and consolidating our position. It is a rare achievement. There is still a lot to do and we are committed to taking right steps in that direction.” JC Sharma, vice-chairman and managing director of Sobha Limited added: “While the market continues to face tough conditions due to liquidity issues, Sobha has been able to improve its performance significantly. Our ability to maintain the leadership position in any given situation, exhibits our solid foundation and resilience. It is this quality that has helped us become one of the most admired brands in the Indian real estate sector.”

Research methodology

Track2Realty – BrandXReport used stringent methodology to collect data and analyse it. A large sample size of 10,000 consumers were targeted across 20 cities in the country, with a set of open-ended and closed-ended questions. This was supplemented by in-house research with the data available in the public domain and opinion of the neutral experts of Track2Realty’s jury. This year, some changes were made to the scope of study and brand evaluation metrics, after a detailed research of the buyer’s behavior and their outlook to assess a brand. The Financial Performance parameter was changed to Fiscal Trust to evaluate consumers’ trust in the brand’s financial strength and Media Perception was changed to overall Image Management to include online reputation and social media management for a holistic brand image. The 7th edition of the BrandXReport also introduced a new category of Affordable Homes.

Region-wise highlights

Bengaluru-based developers, were yet again ahead of the competition, in terms of brand leadership, with five of the top 10 national brands – Sobha Limited, Embassy Group, Prestige Group, Brigade Group and Puravankara Limited – from Bengaluru. Mumbai-based Godrej Properties and K Raheja Corp also have their presence in the Bengaluru market.

[ecis2016.org] Brand integrity: The road to financial success

East India

In east India, market leader Ambuja Neotia continues to be the brand leader for the 5th consecutive time. It is followed by the consortium of developers, South City Projects. Forum Group has scaled up from number 4 last year to number 3, while Srijan Realty goes down to number 4. The biggest brand movement in the region is the entry of Siddha Group at number 5 for the first time, into the list of top 10 brands in the region. Following Trump Tower Kolkata, Unimark Group enters into the list of top 10 brands for the first time in the region, while another Trump partner RDB Realty makes a comeback after a gap of four years. While Tata Housing loses its brand competitiveness in the region, another corporate conglomerate Godrej Properties exits the leadership chart. Hiland Group leaves the brand leadership chart in the region this fiscal year, while Shrachi Group and Mani Group lose their brand competitiveness.

West India

In the west Zone, Godrej Properties retains its leadership position for the 5th consecutive time. K Raheja Corp scales up one spot to be the 2nd-best brand in the region, while Oberoi Realty scales down from 2nd to number 3. Piramal Realty enters the brand leadership chart of west India at number 4. Adani Realty is the second-most bullish entry into the league as the 5th-best brand in west India. L&T Realty is the third new entry into the brand leadership chart and Mahindra Lifespaces makes a comeback into the top brands of the region at number 10 after two years.

Sunteck Realty has strengthened its brand competitiveness in the region while Hiranandani and Kalpataru have lost their brand standing. Omkar Realtors & Developers, Tata Housing and Indiabulls Real Estate have exited the brand leadership chart of the region.

North India

In north India, DLF continues to be the market leader and has also improved its brand score this fiscal year. Godrej Properties also scales up from 3rd position to 2nd. However, the brand performer in the region is Ashiana Housing, up from 6th place to now being the 3rd-best brand of north India. Once a promising brand, ATS Group falls from 2nd spot to 4th position on the brand leadership chart. Mahagun has also lost its brand competitiveness a bit and slipped one spot down from 4th position last year to now at 5th spot.

ABA Corp has been a significant performer in the region, a brand that entered into the elite list of Top 10 Brands last fiscal at Number 10 has now scaled up to 7th spot. Gulshan Homz is also continuously scaling up on the brand leadership, from 7th spot to now at 6th position. Central Park has scaled up to 8th position this year. Two new brands, Eldeco and Adani Realty, make their entry into the elite list of brand Leaders in north India, while M3M India and Tata Housing exit the brand leadership chart of the region this fiscal year.

South India

Read also : Centre looks to global construction technologies, to speed up PMAY

In south India, Sobha Limited retains its brand leadership for the 6th consecutive year. Sobha has also touched its best ever brand score, despite fierce competition in the region with Embassy Group scaling up significantly. Embassy Group has now jumped to the 2nd-best brand in the region, after its REIT listing. Total Environment has entered into the list of brand leaders in the region for the first time. Brigade Group and Godrej Properties move up one spot from last fiscal year. Prestige Group slips to 3rd position of brand leadership in south India this year. Century Real Estate and Mahindra Lifespaces exit the brand leadership chart in south India. Puravankara Limited also loses its edge in the region and slips from 4th position last fiscal year to now at 6th.

Segment-wise highlights

Residential: Sobha Limited continues to be the brand leader in the residential segment, followed by Prestige Group and Godrej Properties.

Affordable housing: The top performers in the segment are a mix of compact luxury, premium housing and low-cost housing. The list is Sobha Dream Series, Provident Housing, Happinest, Joyville, Sunteck WestWorld, Homekraft, Tata Value Homes, Signature Global, XRBIA Developers and BGA Realtors.

Super luxury: Sobha Limited retains its edge as best super luxury brand for the 6th consecutive time, followed by Embassy Group and K Raheja Corp.

Office space: Embassy, backed by its successful REIT listing, has not only retained its brand leadership for the third time in a row but also improved its brand score to an all-time high.

Retail: Phoenix Mills reclaimed the top spot for retail brands, after a gap of four years. The market leader for the last four years, DLF, slips down to number 2 position on brand leadership chart. K Raheja Corp maintains its number 3 position for the 3rd consecutive year.

Hospitality: Embassy Group retains its brand leadership in the segment for the 2nd consecutive time. Prestige Group jumps one spot to be at number 2 this year.

Senior housing: Not many new players or projects entered the senior housing segment. Ashiana Housing continues to be the market leader and brand performer for the 3rd consecutive year. Antara Senior Housing is yet again at number 2 and Paranjape Schemes retains its number 3 position.

Home finance: HDFC Bank is far ahead of the competition curve in the home finance segment. Indiabulls Housing Finance, Axis Bank and ICICI Home Finance maintain their brand leadership at the 2nd, 3rd and 4th positions, respectively.

Sobha voted top brand for the fourth consecutive year: Track2Realty BrandXReport 2017-18

Sobha Limited has emerged as the ‘Brand Leader of Indian real estate’ for the fourth consecutive year, according to Track2Realty’s BrandXReport 2017-18, where five of the top 10 brands are from the south Indian markets

June 6, 2018: Sobha Limited has been recognised as the Top National Realty Brand across asset class in India, by the Track2Realty BrandXReport 2017-18. This is the fourth consecutive year that Sobha has emerged as the brand leader of Indian real estate. Sobha was followed by the Prestige Group, Godrej Properties, Puravankara Limited and Embassy Group. The Track2Realty BrandXReport 2017-18 establishes that Bengaluru-based developers have been frontrunners, in adhering to regulatory compliances and some of the best practices, thus, winning over the consumers’ trust. Out of the top 10 national brands, five are from Bengaluru. With high consumer confidence and NRI preference, four players from Bengaluru are among the top five national brands in this year’s study.

All of these players have improved upon their brand scores compared to the last fiscal year. According to the report, Bengaluru-based developers have the potential to emerge as global realty brands.

The comprehensive Brand Perception Audit Report recognised Sobha as the top national realty brand, the top brand in south India, the top brand in the residential space and the top brand in the super luxury segment. Consumers across 20 cities in the country voted Sobha as their top pick, while NRIs across the globe too, voted Sobha as the brand having the top mind recall. The company was also recognised as the best player for its CSR practices.

Read also : Eviction of forest dwellers: Number of people to be evicted reduces considerably after review

Speaking on the occasion, Ravi Menon, chairman, Sobha Limited said, “It is an extremely proud and humbling moment for the entire Sobha family, to be recognised once again as the top real estate developer in India, by the Track2Realty BrandXReport. We have not only retained but have also strengthened our brand score and thus, the leadership position in the last four years, making it a special achievement for us. This endorses our commitment in exceeding customer expectations with superior quality products across all segments along with our promise of on-time delivery.” JC Sharma, vice-chairman and managing director of Sobha Limited, added: “We are delighted to be at the top, for the fourth consecutive year. We have proved our competence to transition smoothly and have adapted to the changing market environment. Over the years, our continuous hard work and unique business model of backward integration have contributed significantly in augmenting our reputation in the market.”

The Track2Realty BrandXReport targeted a large sample size of 10,000 consumers across several cities in the country, with a set of 28 open-ended and close-ended questions. The responses were grouped under seven key areas: understanding about policy changes; impact of policy changes; home buying experiences in the recent times; property price index; builder-buyer conflicts; conflict resolution; and future outlook of the market. Developers with better brand recall value and goodwill outside their geographical markets, gained highest weightage in evaluation. The report also conducted its second global survey amongst the NRIs, to understand their investment choices and their trust in the Indian real estate sector. The survey used a four-pronged methodology to determine: their awareness about recent policy changes in India and their approval/disapproval of the reforms process; their outlook on the impact on the property market; trust level with real estate after policy changes; and willingness to invest in Indian property. The survey covered NRIs from the US, UK, Middle East, South Africa, Canada, Australia, New Zealand, Malaysia, Singapore and Mauritius.

Key highlights of the BrandXReport 2017-18

Amidst the market uncertainties, the BrandXReport found that the developers like Sobha Limited, Prestige Group, Puravankara and Embassy Group, have adapted to regulatory compliances and changing market dynamics better than the sector at large. These are the brands that have further consolidated their reputation as trustworthy brands. Most of the leaders have improved their Brand Score, compared to the last fiscal year. K Raheja Corp is the only developer, to make an entry into the Top 10 National Brands after a gap of two years.

Interestingly, during this fiscal year, a number of relatively smaller developers with impeccable track record of delivery and consumer satisfaction, are breaking the myth that it is the sheer volume and premium that elevates a company in the brand leadership chart. Some of the fastest selling developers with larger market share but mounting consumer grievances, have lost the tag of desirable brands.

The fiscal year also witnessed seasoned and responsible brands opting for consolidation, amidst the market uncertainties borne out of the overall slowdown and a number of regulatory changes. Those who have adapted to the emerging market realities and have realised that it is the buyer who is the demand driver and not the investors, have strengthened their market positioning.

Region-wise highlights

Five of the top 10 brands are again from the south Indian markets and developers like Sobha Limited, Prestige Group, Puravankara Limited, Embassy Group and Brigade Group are among the top 10 brands at the national level. Sobha, Prestige, Puravankara and Embassy are also among the top five national brands in this year’s study. Godrej Properties, once again, is the only corporate conglomerate to be among the top national brands and a brand that is at the top of the leadership chart in all the four regions. However, at the national level Godrej slipped one place to third, from second position last fiscal.

North India

The notoriety of the north Indian markets in general and Delhi-NCR is particular, has led to many large players by market size either exiting the brand leadership chart or are at the bottom of the pyramid.

DLF is the only real estate company from north India, to have its presence among the top 10 national brands. In north India, the exit of one of the largest developers by market size, Supertech, in the wake of mounting consumer backlash, is a testimony to the fact that size alone can no longer define brand leadership. The story of another large developer by market size, Gaursons, is no different. On the contrary, a relatively smaller developer with limited footprint, Gulshan Homz has strengthened its brand positioning. Similarly, two of the smaller brands by market size, Central Park and ABA Corp make their entry into the elite list of top 10 brands in the region. M3M India also made a comeback into the top 10 and its association with the Trump brand, seems to be working in favour of the developer.

South India

In the best performing and fiercely competitive south Indian markets, most of the leading brands like Sobha, Prestige, Embassy, Puravankara and Brigade, have improved their brand score. These brands have also consolidated their national ranking and Sobha Limited continues to outperform the market. The Embassy Group remarkably improved its brand performance to become the third best brand in the region, while Salarpuria Sattva also improved its brand ranking this year.

West India

After the south Indian market, it is the west zone where the Mumbai-based developers have pretty impressive presence at the brand leadership chart.

Other than the Mumbai-headquartered Godrej Properties, it is Oberoi Realty, K Raheja Corp and Lodha Group that are in the elite list of top 10 national brands. The trend of top developers consolidating their brand leadership is quite evident in west zone, as well, where the top three names, Godrej Properties, Oberoi Realty and K Raheja Corp have improved their performances this fiscal. Kalpataru makes a comeback into the elite list of top brands in the region after a gap of one year, while Indiabulls Real Estate also makes it into the list of top brands.

East India

The east zone continues to be the least brand conscious part of Indian real estate. This is the only region where most of the leading names have lost their brand score this fiscal year. Ambuja Neotia continues to be the brand leader and the brand that has remarkably improved its ranking is South City Projects that makes a giant leap from eighth position to become the second best brand in the region. Forum Group is another significant brand performer, leaping from ninth spot to fourth. Shrachi Group and Hiland also entered the league of brand leaders.

Top brands by segment

• Sobha continues to be the brand performer in the residential segment, which also witnessed the exit of Tata Housing in the wake of controversies. The top names like Sobha, Prestige, Godrej and Puravankara strengthened their brand leadership.
• In the office space segment, the Embassy Group continues to be the brand leader for the second consecutive year, followed by K Raheja Corp. DLF consolidated its brand reputation this year at third place, after having dropped to fifth spot in the previous fiscal.
• India’s second largest mall, Lulu Mall at Kochi, entered into the top leadership position in the retail segment for the first time, making its debut at number nine. Phoenix Market City also scaled up the brand index across cities.
• Embassy Group was the top brand performer in the hospitality segment, while the Brigade Group lost its brand leadership in the segment.
• Sobha continued to be brand leader in the luxury segment for third consecutive year. However, the Embassy Group emerged as the brand performer and market disruptor in the segment, enters the list of top 10 brands at the fourth spot. Another new entrant into the luxury segment was Mumbai-based Kalpataru, at 10th spot.
• Omkar Realtors & Developers lost its brand score this fiscal but maintained its leadership position in the redevelopment segment. Rohan Lifescapes jumped from 10th position last fiscal to be voted the eighth-most credible brand this year, while also improving its brand score, while the Kalpataru Group also improved its brand rank and brand score.
• Ashiana Housing continued to be the leader in senior housing segment, while Antara Senior Living jumped from 10th spot last year to second this fiscal.

Source: https://ecis2016.org/.
Copyright belongs to: ecis2016.org

Source: https://ecis2016.org
Category: Lifestyle