 So, let's move forward ladies and gentlemen to the keynote address we have in the midst of us our young Turk who is also the director of science state consultants. Could we have a huge round of applause as I invite Mr. Ahmad Wadwani to deliver the keynote address. Hi, very good evening ladies and gentlemen. I'm always given the tough task to speak after Mr. Niranjan Hiranandali and today I'm speaking after Mr. Anubhag Bhatia. So, I've got used to speaking after renowned personalities. So, it's nice to be in Delhi in Mumbai we have better known science state consultants in the city of Mumbai is seen on the hoardings in print. I'm going to talk a little bit about science state consultants because this is a new market and I'm delighted to have a new office in CP in Delhi. So, I would want to also tell you how science state consultants can add value to each one of you in this cabin sorry in this you know this area that we have all gathered at. Science state consultants started in the year 2010 and it was started by me. I had six years of experience of no real estate and I used to work as a cabin crew with jet airways serving tea, coffee, veg and non-vegetarian to one alpha Mr. Amitabh Bachchan and 60 alpha a client who wanted only non-vegetarian and would not settle for unless I give a piece of chicken or something to do with non-vegetarian. So that's where I learned the art of customer service and somewhere you know I'm happy that I dropped out of college to join such a premier airline that taught me when you sell a 15-20 rupee coffee the consumer wants everything the guest wants everything and when my 200 sales guys today come back and tell me that sir the guy says I'm ready to buy a flat but I will not pay two lakh rupees for a car park by the way in Maharashtra we can sell car park as far as it is designated so we charge specifically for a car park so you know we tell our sales guys also that I have sold tea coffee at 15 rupees and yet delivered the cup landed right on the spot with a smile on my face managed to look good managed to feed Bombay Baroda passengers to 182 passengers feed them give them tea coffee take the trace back by the time they're not even eaten we have the reason I'm telling you all this is because today the entire industry revolves around one important factor which is called consumer sentiments. So you can have the best product in Mumbai we have Lodas doing skyscrapers and looking at huge apartments great value amazing locations even very good prices you know they are known for very good prices and I'm a big fan of the brand Loda I don't do too much work with them because now I'm with the affordable housing but the point is they are great communicators they use the media in a way in they created a niche for themselves so at this point in time I feel consumer sentiments is the most important amenity that a consumer is looking at if I cut out a check worth five lakh rupees I am actually not wondering whether you're gonna give me Italian marble or you're gonna give me novel Kadapa tile that comes secondary I first want to know isn't it that that is that is that is the you know the big question mark that's I instead consultants we take 6,000 phone calls every day so anybody who believes that markets are sluggish and it is difficult to sell inventory in MMR we close minimum 100 crores deals every week and our weekend starts on a Tuesday afternoon at 2 30 the only downtime we have is a Monday because the response is amazing I can tell you that what we do is is I believe is not a CSR activity but there is a great job satisfaction in doing what we do because we work with developers who offer a 30% discount and I understand that developers are in pain and there is no money in the system that developers are facing losses they are also paying interest but when once you are stuck you have to come out of the rut and the best way to come out and maintain liquidity is to say okay this is my price this is the inventory I'm not making any money I made money for the last 20 years you you try and ask an NRI what the NRI thinks about the Indian development industry and and the standards that we have it will not be a very pleasant one to give you a very honest feedback considering that we have a new office in Marina Bay in Dubai we get a lot of feedback which is absolute in in contrast to what our Indian consumers say so the point I'm trying to make here is that this is the time where we have to all as a fraternity brokers bankers developers you know come together and work on building sentiments if I can do great homes but I do not have the ability to tell you that I have no bad intention I will follow I will give you amazing product line but I do not really convince the consumer there is no point in going in that direction and and I have been you know I've been born by my my of course KPMG is also one of our knowledge partners we also work with EY and we also work with good ad agencies have been I am 33 but I deal with people who have 33 years and plus of experience so I like to go with them my CM or CEO are all much older than what I am but I take their word and they all want me that yeah I'm NCI jagoe over to bought supply over to bought and sold stock to be careful because a lot of money have a lot of people have lost money and they've not been able to do a good job I entered the market in 2010 and 2000 till 2014 times were not all that good but in certain pockets we had appreciation as far as investor sentiments are concerned but 2014 it's been a tough task but it's a very very exciting one one experience I would want to share with you after 2014 we stopped communicating with all individual retail investors because they'll say I believed that there is no capital appreciation in Mumbai markets after 2014 and if I tell an investor Sarah P this is the reality today people who have assets worth 500 crores have problem sending 510 lakh rupees of RTGS that's the ground reality because the liquid position has been that way people I won't talk about GST rare and demonetization because these are three things that being an optimist as per my study eventually will all phase out and this is for the betterment of the country and to make Indian real estate to be perceived in a way which is not something you know that that will keep us down when we have a discussion in the United States talking about Indian real estate and Indian developers so on this note I am I am always my 200 member team and now we are recruiting 15 to 20 people every weekend and I must tell you certain facts about I estate consultants we buy media worth 90 crore rupees every fiscal year ATL, BTL, outdoor from times of India, Hindustan times, midday and various other places and we have chosen to be as aggressive inversely proportional to the market so as the market keeps going bad we keep pushing harder if there are four brokerage houses that have gone down because they have not really put that extra effort there was a time in 2016 I used to work 14 hours now I've gone to 18 and a half 19 hours a day because this is the time I believe this is the opportunity because there has been an organic correction in the market as far as consumers are concerned only if entire development fraternity accepts that I'm a little lost is there a way I can come out of this situation let me not go to a bank and borrow at 27 28 percent rather give that 28 20 30 percent correlated discount to the consumers and I'll be delighted to deal with me with such ideologies we managed to sell multiple units in Mumbai and though I am very comfortable conducting business in MMR because we have one lakh 50,000 crore of unsold stock in MMR and at my company's end we do only 5,500 crores every year even if I double my capacity I will not be able to do more than 10,000 crores every fiscal year so I have one lakh 40,000 crore of ocean there for me to conquer but I felt that the concept of 30 40 30 which size state follows when initially we tend the developer to give us a 30% discount and then there is immediate subscription because we attract we buy a lot of media talk about it whether it is digital whether it is NRI whether it is exhibitions after the name is created of that specific that I tell you one of the problems of most of the developers here they have some great legacy but I don't know why they have a mindblock towards advertising and marketing so when it comes to having our jacket on the front page they feel that you know this is my experience most of the developers feel they are more ad then it is a good name they pass the country 500 crore bigger mall why do I advertise so you know these are things that are keep me and keep me in business because we we take up such projects and take the anti-advertising marketing and and and believe you me we are a debt-free organization I have said no to a couple of private equities who have come to me in Mumbai for my 18 to 20% shares but we have chosen to remain debt-free because when I signed my check I want to take my own decisions and not basis an investor or a bank or a private equity who dictates terms this is my understanding on the subject we look we are looking at an IPO by 2019-20 which will be India's first IPO that comes from a brokerage house which is less than 10 years old and is not backed up by any big daddy sending me US dollars or nor my daddy has left anything back for me to really take off from so as you guys must have guested by now I'm an absolute optimist and we have taken MMR by storm we are known for positive disruption and we will continue to add as much value as possible continue to ensure that we meet our goal which is one home for every Mumbai current now that I'm speaking in Delhi I'll take the previous to call it one home for every Indian I thank each one of you to giving me this opportunity to be here thank you thought bubbles who's been our ad agency thank you alchemist who's traveled with us thank you a PR agency white mark and all my 208 lovely boys and girls between 25 to 65 years who ensure that we do an amazing job every single day 18 and a half 19 hours thank you thank you so much Ahmed for sharing that and we wish you good luck for the IPO also coming up