'CASAGRAND is currently focusing on Chennai, Bangalore and Coimbatore’
Vimesh P, Vice President of Marketing, CASAGRAND shared that homebuyers’ trust has helped them close the financial year on a positive note
Casagrand Builder Pvt Ltd. is committed to building aspirations and delivering value. In the last sixteen years, they have developed over 30 million sqft of prime residential real estate across Chennai, Bengaluru, and Coimbatore. In an interaction with e4m, Vimesh P, Vice President of Marketing, CASAGRAND, said that homebuyers’ trust has helped the Chennai-based real estate player close the financial year on a positive note and added that the company is looking to enter Hyderabad.
In an earlier interaction with e4m, CASAGRAND shared that the company was looking at Rs 2,350 crores sales in the last FY. How has that panned out for you?
During the year FY 2020-21, CASAGRAND, had a target of achieving a turnover of over Rs 2350 crore. While the entire real estate industry was suffering during the pandemic, facing multiple challenges like continuous lockdowns, lack of availability of labours and construction materials, halt in construction activities, etc., CASAGRAND still managed to achieve the inspiring sales turnover of over Rs 2,350 crore. The company clocked sales of over Rs 1,200 crore in just six months period, resuming operations post the lockdown.
While almost all the sectors were affected during the pandemic, real estate was one among the sectors that were hit hard during the pandemic. However, with various relief measures announced by the government, in terms of lowering the home loan interest rate, etc., along with the changing needs and home buying preferences, the industry started picking up, witnessing a huge demand in the residential segment. The trust that homebuyers have on CASAGRAND, helped us to close the financial year on a positive note.
During the period, CASAGRAND launched projects across Chennai, Bangalore and Coimbatore, cracking major milestones like bringing to town the streak of roman architecture with the launch of CASAGRAND FirstCity, one of the biggest integrated communities of CASAGRAND, that boats the biggest club house having over 100+ amenities. CASAGRAND also launched many themed projects across regions that received an overwhelming response from homebuyers.
How are you reading the consumer sentiment and demand in the real estate markets you operate?
During the pandemic, we have noticed a major shift in consumer preferences. Residential projects that offer integrated living, best-in-class amenities, huge open space area, and high level of safety and security have become the recent preferences of homebuyers. Customers have also started looking for projects that offer added space to accommodate their multi-functional purposes. The pandemic has imprinted the importance of healthy living that has made homebuyers more conscious of healthy and happy living. Owing to the various health risks due to the COVID -19 pandemic and parents looking at choosing a safe haven for their children to help them stay safe and secured, gated communities are being largely preferred compared to individual homes and standalone apartments.
How are you communicating with your target group?
Our communication to the target group who are basically the aspiring homebuyers who wish to buy their dream home, investing in their life time savings, is through multiple mediums like print media, electronic, radio, online, hoarding, channel partners, employee/customers reference. We at CASAGRAND have been witnessing a large number of homebuyers who walk-in based on customer references. Few special strategies that we follow include a Narrow target group campaign, running frequent exclusive campaigns as per the mediums, etc.
Tells us about some of CASAGRAND's innovative advertising campaigns that are devised to draw prospective buyers
While we at CASAGRAND understand the needs of every homebuyer as well as the challenges they face while purchasing their dream home. Aimed at which we came up with few interesting campaigns such as No Pre-EMI Scheme, where CASAGRAND will bear the PRE-EMI cost on behalf of the customer to reduce their burden. We also conducted a 100-hour campaign, where key projects across the city were offered at much lower prices with added benefits, Ready-to-move-in, etc. Few other interesting campaigns conducted by CASAGRAND include 10/90 payment, and many more. All our campaigns have been a great success. The regions that we are currently focusing on are Chennai, Bangalore and Coimbatore.
How has your marketing strategy evolved since the pandemic struck?
It is undeniable that the COVID-19 pandemic had created a negative sentiment in the market. In order to overcome it, we at CASAGRAND had come up with creative campaigns, offering more flexibility in terms of payment plans, etc. This received an enormous response from the homebuyers. To maximize visibility and reach we look at mediums like Print, online which are witnessing a lot of consumer participation and interest, and hence we have 55% of our ad spends in the digital platforms, 20% in print, 5% on TV and Radio, 7% referral and 3% on BTL and Outdoor.
The huge growth in digital consumption and dependence of people on social media and other digital sources for news and entertainment, our ad spend in this segment has increased significantly. Our digital promotions are majorly at Facebook, Google, Property portals, Native Ads, SMS, email blasts and SEO marketing, where we run 360-degree campaigns.
Can you share your marketing budget?
For the year, FY 21-22, we have allocated Rs 123 crore for marketing and advertisements. We have not increased our marketing budget for this year.
Chennai is your biggest market and you have upped your presence in Bangalore, Coimbatore. How is the Chennai market looking and how has the move to Bangalore panned out?
Chennai has always been our favorite market. Over the years, we have developed many significant projects in Chennai and have many unique projects in pipeline, CASAGRAND is today the leading developer in the region. Aimed at strengthening our presence in Bangalore, CASAGRAND will be launching many projects in various categories like integrated communities, Villas, etc., across segments.
Can you tell us about CASAGRAND’s future plans and what all we can expect from the company?
In line with its mission of becoming the PAN South India Player through a position of dominance/relevance in each of the geographies, CASAGRAND is all set to expand its presence across South India. With projects worth over Rs 8,000 crores in pipeline, CASAGRAND is aiming at launching many unique projects across Chennai, Bangalore and Coimbatore. We are also in the process of strengthening our presence in Bangalore by adding more projects and entering prime residential markets like Hyderabad.
How do you see the real estate sector evolving going ahead?
During the pandemic, people have realized the importance of owning a home, which has led to a huge increase in demand in the sector. Coupled with the various government announced relief measures and deals offered by the developers, the real estate sector has been witnessing positive sentiments, which is expected to continue .
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