Parshwa Shah
Director, NB Group
In an interaction with CEOInsight, Parshwa has shed some light on his experience in the realestate venture, the challenges he has faced and overcame, his future projects and so on:
Shed some light on your professional background & experience? What motivated you to venture into real estate sector and what has been the driving factor for you even today?
As someone who has always been interested in business in some form, I decided to study management in Mumbai after finishing school, since I was confident that I would either join my family firm or establish my entrepreneurial career. I had the opportunity to study International Trade and Financial Information Analysis at the University of California, Berkeley. Upon my return, I discovered a huge market for real estate in Ahmedabad that was still developing, prompting me to pursue my MBA in Family Business and Entrepreneurship from Nirma University while continuing to work at my family business.
During my time in Ahmedabad, I understood that real estate is more than a product industry, and the gap can be addressed through additional services, which prompted me to enter the real estate industry. We chose affordable housing because, as a people's brand, we wanted to make a difference in people's lives rather than just generate money. Affordable housing is a section in which, while it is only a unit to sell for us, it is our customers' dream house, their lifetime earnings. It was something my father instilled in me, and it is how we became synonymous with quality, customer service, and happiness. Seeing people's joy when they purchase their dream home is what motivates me today. Making a difference in people's lives and being remembered for my efforts inspires me to strive harder. We are now working on around two million square feet of affordable housing construction in and around Ahmedabad.
What learning and experiences you have got from Nirma University and how do you use those expertise in your present venture?
Nirma University's MBA in Family Business and Entrepreneurship aided me in developing my skill set. As a result of my studies, I have spent most of my time outside of Ahmedabad, which I can put to good use in my family business and networking. This course also assisted me in understanding and overcoming the obstacles that exist even in family businesses. Because my course was in the same location, I had the benefit of being there at work and receiving help from my professors in the event of a unique real time scenario. Because my training focused on leadership skillsets, it assisted me in managing various departments in my family firm at the same time.
Define NB Group, its greatest strengths and position in the industry. What is the uniqueness in the proposition it offers to its clients?
NB Group, founded in the early 1990s by Nishith Shah,is a family owned corporation that specializes in the import and export of diamonds worldwide. We started real estate in 2004 and have primarily been active in and around Ahmedabad. We began in real estate with Parshwa residency in Naroda in 2014, followed by Parshwa homes in Sanand in 2016.
Because it is where our customers make their memories, we pay careful attention to every square inch of the building from conception to delivery, with our designers and developers going above and beyond to ensure the houses are efficient, sustainable and dependable. Dedicated to quality, corporate ethics, transparency, and customercentricity, our no compromise' ethos has helped us achieve the greatest levels of performance and ethics. We work hard to exceed people's expectations with the belief that, ‘If you're going to do some thing, you should be the best at it’.
Throughout your professional journey, what are some of the major challenges you have faced so far and how did you overcome them?
Being from a non-technical background presented its own set of obstacles. However, on the bright side, I didn't have to relearn anything. Being onsite and working with the engineers assisted me in fast learning management skills and providing value to the projects. Trying to professionalize a family firm that had been operating in some capacity for years had its own set of obstacles. Overcoming this obstacle is where my family business course came in handy. We attempted to professionalize the entire process by employing specialists and implementing policies, which was a gradual adjustment that was met with scepticism at first but was eventually embraced for good.
Even competing with the local developers for a decade was tough. Implementing technology such as green building, CRM software, after
Affordable housing is a segment in which it’s just a unit to sell for us but for our customer it is their dream home, their lifetime’s earnings
Define NB Group, its greatest strengths and position in the industry. What is the uniqueness in the proposition it offers to its clients?
NB Group, founded in the early 1990s by Nishith Shah,is a family owned corporation that specializes in the import and export of diamonds worldwide. We started real estate in 2004 and have primarily been active in and around Ahmedabad. We began in real estate with Parshwa residency in Naroda in 2014, followed by Parshwa homes in Sanand in 2016.
Because it is where our customers make their memories, we pay careful attention to every square inch of the building from conception to delivery, with our designers and developers going above and beyond to ensure the houses are efficient, sustainable and dependable. Dedicated to quality, corporate ethics, transparency, and customercentricity, our no compromise' ethos has helped us achieve the greatest levels of performance and ethics. We work hard to exceed people's expectations with the belief that, ‘If you're going to do some thing, you should be the best at it’.
Throughout your professional journey, what are some of the major challenges you have faced so far and how did you overcome them?
Being from a non-technical background presented its own set of obstacles. However, on the bright side, I didn't have to relearn anything. Being onsite and working with the engineers assisted me in fast learning management skills and providing value to the projects. Trying to professionalize a family firm that had been operating in some capacity for years had its own set of obstacles. Overcoming this obstacle is where my family business course came in handy. We attempted to professionalize the entire process by employing specialists and implementing policies, which was a gradual adjustment that was met with scepticism at first but was eventually embraced for good.
Even competing with the local developers for a decade was tough. Implementing technology such as green building, CRM software, after
sale service, and overall developing a premium grade project in comparison to the local market to set a benchmark adds extra expense to the project, making the buildings more expensive for clients. However, I did not compromise on quality and was steadfast in implementing them, and once clients witnessed the product given to them, it eased our entry into the market as leaders.
In your professional journey so far, any achievement that has given you utmost satisfaction?
After getting into real estate, I was able to partner with a social for profit company based in Bangalore to build an 847-unit affordable housing project in Sanand, Ahmedabad, with the goal of providing housing to those who cannot afford it, and I was even able to raise funds from a UK-based International development organization. Despite the fact that it took nearly a year to close the sale, I pushed myself to the limit with maximum determination and trust, and I was able to create a win-win situation. That project is my proudest accomplishment since joining our organization. We aim to leverage our experience and ethos together to create an impact on the society through quality and sustainable construction practices.
What are your future plans and goals in terms of investment?
I envision delivering lifestyles and housing complexes with the highest level of luxury and other amenities for our customers. We want to expand into different locations and beyond as an organization because of our firm commitment to quality and eagerness to tackle new global concerns. Aside from traditional real estate development, I envision a bright future in the technology and service industries.
We also have ideas for co-living spaces and service apartments that have been put on hold because of the pandemic. Once schools and colleges open, I believe it will be an excellent opportunity to provide students and exchange students with well serviced, comfortable living areas who are prepared to spend but don't have many options. Because of RERA, the real estate market is steadily becoming more open, and it now has the scope of REIT, which will also attract a lot of new investment. With supportive government initiatives and laws, REIT will be the future and a game changer for the Indian realestate business if done correctly. We also intend to enter the REIT market with our commercial or upscale developments in the near future.
Parshwa Shah, Director, NB Group
After joining his family business, famous for importing and exporting diamonds, Parshwa has successfully penetrated his company into the real estate market. NB group is currently one of the leading real estate organizations in and around Ahmedabad, known for delivering high standard affordable housing products to clients. A firm believer in ‘raise your standards and the universe will meet you there’. His future goal is to expand their business into multiple other cities in India and beyond. An MBA graduate from Nirma University, Ahmedabad, India, Parshwa is also a private pilot license holder.
In your professional journey so far, any achievement that has given you utmost satisfaction?
After getting into real estate, I was able to partner with a social for profit company based in Bangalore to build an 847-unit affordable housing project in Sanand, Ahmedabad, with the goal of providing housing to those who cannot afford it, and I was even able to raise funds from a UK-based International development organization. Despite the fact that it took nearly a year to close the sale, I pushed myself to the limit with maximum determination and trust, and I was able to create a win-win situation. That project is my proudest accomplishment since joining our organization. We aim to leverage our experience and ethos together to create an impact on the society through quality and sustainable construction practices.
What are your future plans and goals in terms of investment?
I envision delivering lifestyles and housing complexes with the highest level of luxury and other amenities for our customers. We want to expand into different locations and beyond as an organization because of our firm commitment to quality and eagerness to tackle new global concerns. Aside from traditional real estate development, I envision a bright future in the technology and service industries.
We also have ideas for co-living spaces and service apartments that have been put on hold because of the pandemic. Once schools and colleges open, I believe it will be an excellent opportunity to provide students and exchange students with well serviced, comfortable living areas who are prepared to spend but don't have many options. Because of RERA, the real estate market is steadily becoming more open, and it now has the scope of REIT, which will also attract a lot of new investment. With supportive government initiatives and laws, REIT will be the future and a game changer for the Indian realestate business if done correctly. We also intend to enter the REIT market with our commercial or upscale developments in the near future.
Parshwa Shah, Director, NB Group
After joining his family business, famous for importing and exporting diamonds, Parshwa has successfully penetrated his company into the real estate market. NB group is currently one of the leading real estate organizations in and around Ahmedabad, known for delivering high standard affordable housing products to clients. A firm believer in ‘raise your standards and the universe will meet you there’. His future goal is to expand their business into multiple other cities in India and beyond. An MBA graduate from Nirma University, Ahmedabad, India, Parshwa is also a private pilot license holder.