The Exchanges

Q rich, Because you're always in this position where people look at you like you're entitled, but in your own head, you have the psychology that for me to find my own validation and respect, because everything you're born with is the status quo, right? That's not going to make you happy. If happiness is each time there is change, a positive change, it's harder for you guys to get it.

A No, so I think that's a valid statement. I think I, we can talk about our journeys, but I definitely went through that a bit of that when I first came into the business, because I was like, okay, my dad's known, he had a bit of a rags to riches story. And, you know, he's known as a visionary, very high acumen, can't find faults with a guy. And I was like, how am I going to fill in those shoes? Right? So it took me a while. And like I said, for me, it was a journey to be very comfortable, secure, confident, In this role, like it was a journey for me. I've been in the business now for 15 years, and it was a journey, and I realized I can't try to even, like my role should not be to fill in his shoes. It'll take an army to fill in his shoes. I need to just fill in my own shoes and add something different, you know, that maybe he doesn't do. And to the previous question you were asking, what the company needs to grow from A to B is different from maybe what it needs from B to C. And so for me, it was, what do I need to do or what do I need to do to help grow the company from B to C or C to D? It can't be what my dad did. There's no way in hell. I'm not in competition with him. I'm not trying to be better than him. I need to find what makes me me.

AI assessment note: “I definitely went through that a bit of that when I first came into”

Q What are the things you, you guys are going to hear something for the first time ever. Being such large companies, what do you outsource?

A Quite a few things. I feel like the role of a builder is to be like a project manager. So we're just managing everything, but we subcontracting the laborers, um, while we have architects to oversee the whole design development, you're outsourcing the actual, uh, drawings, et cetera, to other architects, interior designers and lawyers. We have in-house lawyers, but you outsource like title opinion and all the Legwork to external lawyers. So everything I feel is you have marketing guys to monitor other marketing agencies. So I feel like our role as a, uh, builder is to like project manage all these various entities. So everything is actually outsourced. We just have people to manage these different, uh, sections and entities.

AI assessment note: “we subcontracting the laborers, um, while we have architects to oversee the whole design”

Q Succession. Like, different versions of Succession in each of your households. How complicated is that?

A So, Succession is a show I haven't watched because I found all the protagonists quite annoying. So, I didn't take a liking to any of them, but, um, I think, Like if you look at it, right, most businesses are family businesses, right? 80% of businesses globally start off as family businesses, and then they get professionalized, and then they, um, go public. So we all start off as family businesses, and then you have to decide if second gen wants to continue or not. So only, I think, I was reading somewhere that 36% of businesses get into second gen, and then maybe about 11 or 15% get into third gen, and maybe only four percent get into fourth gen. So I think the, um, the challenges in the, like you were saying, managing egos, or managing people, and managing, ah, relationships. Because you might have the perfect org structure, but if the human element is not looked into, then the disruption happens. The way we have done it is, my dad was very smart in the sense that he gave my sister and I, she's older than me, Different verticals, and then we also have a cousin in the business, and we also have another family friend who's like a brother to me anyway, and an uncle, and then my mother was in the business, but all of us handled very different sections and verticals of the business, so there's no stepping on each other's toes.

AI assessment note: “all of us handled very different sections and verticals of the business”

Q Is it also because it gives you validation in a domain where your family does not exist at all?

A Yeah. Possibly. Like, it's, it's my space where I'm not, you know, I'm not riding on the coattails or success of my father, and it has to do every, and it has everything to do with my abilities and qualities and nothing to do with anybody else. And it goes back to the original thing of wanting to prove yourself sometimes as worthy of being in a certain position and a certain level. So it does, I've also thought about it a lot. Um, and also sometimes people Have sort of said, oh, where does she have time to, like I've been spoken to in public settings, you know, where do you have time to run your company if you're running in the park all the time? So I have to come back and be like, I run way before you wake up, so don't worry about it. But yeah, I felt like I had to fight a lot. I know what I went through to do that, you know, it's, um, you have to give up a lot. And then even my dad would be like, focus on your work. Why are you spending time on triathlon training?

AI assessment note: “it's my space where I'm not, you know, I'm not riding on the coattails”

Q And Nirupa and Karan came to me. How would I decide who to do a JV with? Because it's not about returns alone, right?

A So I don't think you would suppose, I don't know, you're closer. I don't think you would just give it to whoever's your closer friend. I think you would just weigh in on so many other things, like on the financial conservativeness of the company or the, um, ability or reputation of the company. Has he done XYZ projects? If you want to do office, has he done office before? What's the expertise? What's the funding for it? There's so many other aspects, but Obviously in any, any business relationships are super important. It's how you get your referrals. It's your reputation. So many other things, but I would not say that, suppose I don't do, even if I'm not friends with you, you still might choose me because maybe products could be better or certain strengths could be better.

AI assessment note: “weigh in on so many other things, like on the financial conservativeness”

Q born in, and hence, what we believe in changes. Like, Irfan Uncle believes in a certain thing, because he was born on a certain year. I was born in 86, so I believe in some things about life, so does Karan, and so do you. What kind of projection is working as a factor towards, for the lack of a better way of putting it, getting more deals done today?

A So, I think there's no right or wrong. According to me, there's no right or wrong. I think the way his dad is, is a reflection of his personality, and the way my dad is, is a reflection of his, and that could be because of how, like you said, they've been brought up, or the value system of the family, etc. Now, I think the way you run your company will also attract certain kinds of investors, ok, or home buyers. Like, everybody has a reputation. In the end, you know, it is, some people will look for certain attributes, From a customer perspective, okay, I'm putting my life savings, you know, I want to go with a reputed, maybe conservative builder. But if it, sometimes if you're looking at a more luxury product, or if you're looking for different aspects, so I just think whoever you are will attract different segments and different kinds of investors also. Maybe certain things are risk taking is associated more with, say, flashiness for some Some cases. So you'll attract a different type of investor and customer.

AI assessment note: “whoever you are will attract different segments and different kinds of investors also”