Carat and Latitude 23 bag real estate player Baderwals

Carat and Latitude 23 bag real estate player Baderwals

Author | exchange4media Mumbai Bureau | Wednesday, Jan 24,2007 8:28 AM

Carat and Latitude 23 bag real estate player Baderwals

Baderwals Infraprojects has forayed into realty and the company has already hired its communication partners. Carat Media has been appointed as the media AoR and Latitude 23 is the creative agency. The decision comes in the wake of a multi-agency pitch. The account size is expected to be in the region of Rs 20 crore.

Nilanjan Maitra, President, Marketing, Baderwals, informed that the reasons to sign on these agencies were that they fit the bill in terms of what Baderwals was looking at. Maitra said, “Latitude 23 is a creative agency that comprises a team of young professional who had worked for agencies like Lowe and Rediffusion DY&R prior to this. From our perspective, we wanted someone who is strong creatively than just being strategic because strategy is something we are internally strong and capable of but it is the creative component that was important.”

“Even in our media agency, we wanted the agency to have strong planning skills. Carat is already working on the business. Charles (Jenarius) and his team are very hands-on on the business and that is the kind of attention that real estate needs,” said Maitra.

This is the first time that Baderwals has hired any advertising agencies. Speaking on the win, Charles Berley Jenarius, Group CEO, Carat, said, “We are elated with this win as this is a very exciting area to be in. Many people are looking at real estate development and Baderwals has some grand plans for the domain. They have 11 projects outlined and each one of them is an interesting offer. We are happy to be associated with them in their efforts.”

Baderwals Infraprojects recently executed the strategic shift into the realty domain. Baderwals which has a land bank worth Rs 450 crore will launch itself originally in developing state-of-the-art commercial and residential projects in Delhi, NCR and extended region with projects worth Rs1,100 crore.

Through joint ventures and collaborations with the country’s leading developers, Baderwals also has accelerated its special drive to erect mega projects -- townships, group housing, malls, multiplexes and hotels, education and entertainment in Delhi & NCR and extended tier II and tier III cities.

Tags: e4m

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