Godrej Properties has strengthened its brand leadership for the 2nd consecutive year. The 9th edition of Track2Realty BrandXReport 2020-21 finds that the K-shaped recovery in the Indian real estate has helped most of the organized developers with corporate governance, at the cost of the large universe of the companies operating like personal fiefdoms.
Challenging environment shapes up the character, be it individuals or the companies. In the post pandemic market where a K-shaped recovery has been reported from across the sectors, the larger and organized developers have been gaining the market share, brand equity, and to a large extent price premium at the cost of the developers who till recently didn’t feel the heat of lesser brand recognition.
Most of the brands at the National Brand Leadership have gained in consumer confidence index in post COVID world. Godrej Properties repeats its performance to retain its Brand Leadership for the 2ndconsecutive time. Godrej Properties has also been able to break the jinx of corporate conglomerates in the Indian real estate business. This is one brand that has evolved from brand promise to brand performance. It is exemplary at a time when most of the corporate conglomerates are still brand promise and struggling to enjoy the consumer confidence that the corporate legacy otherwise can boast of.
Sobha Limited is yet again at Number 2 this time but look far more resilient than last fiscal year. DLF Limited continues its upward journey and is now the 4th Best Brand at the National Level. Embassy scales down at Number 5 of National Brand Leadership this time around even though its Brand Score remains the same as last year.
The performer at the National Brand leadership is Brigade Group that makes a giant leap from 10th spot last year to Number 6 this time. Oberoi Realty stands at its last fiscal performance of Number 7 on National Brand Leadership Index. Puravankara maintains its last fiscal performance at Number 8 yet again; its Brand Score has nevertheless improved. K Raheja Corp loses its Brand Rank and slips down 3 spots to be at Number 9 this fiscal year. Ashiana Housing goes out of National Brand Leadership while Piramal Realty is back again at Number 10.
EAST INDIA
The Covid-induced slowdown effect has not been that visible in East Zone in general and Kolkata in particular, at least not from the standpoint of change in consumer psyche vis-à-vis the real estate brands in the region. Ambuja Neotia continues to be the most bullish brand in the region yet again. This brand is also pretty close to be in the race of National Top 10 Brands.
None of the National Top Brands are coming out of East Zone yet again. South City Projects retains its Number 2 Brand Rank in East India this fiscal year. Siddha Group scales up one spot to be 3rd Best Brand in the region. Siddha also appears to be the most resilient brand of the region with consistent performance.
Forum Group drops down at Number 4 this fiscal year. Hiland Group is back among the Top 10 brands in East India yet again. Shrachi Group exits the Brand Leadership chart of East India this time around. Srijan Realty, RDB Group, Unimark Group and PS Group retain their last year’s respective Brand Ranking.
WEST INDIA
Godrej Properties continues to be the Brand Leader in the West Zone. Oberoi Realty is back as Number 2 Brand in West Zone after a gap of 2 years. K Raheja Corp maintains its standing as 3rd Best Brand in the region yet again. Sunteck Realty loses its Brand Rank significantly this fiscal year and drops from Number 2 to now at 4th spot.
Piramal Realty gains significantly to emerge as the Brand Performer of the year; scales up from Number 8 to now as 5th Best Brand in the region. Lodha Group is back at Number 6 Best Endorsed Brand after a gap of 2 years. Kalpataru loses its Brand Equity significantly to drop from Number 5 to now at 7th Spot.
Hiranandani also drops at 8th Rank from its last position at Number 6. L&T Realty & Kanakia Spaces retain their last year’s respective Brand Rank at Number 9 and 10. Adani Realty goes out of the list of Top 10 Brands this year.
NORTH INDIA
Top 4 Brands in North India retain their respective Brand Rank yet again this time. North India is also the only region where all the Top 4 Brands could even better their Brand Score amidst Covid-hit market. North India has otherwise been the quite volatile in terms of the Brand Movement of respective developers. Biggest face loss in the region has been with ATS, once Joint Number 1 Brand, and it exits out of the elite list of Top 10 Brands across North India. Another significant loser is Mahagun that slips from Number 5 last fiscal year to now at Number 10.
Noida-based Gulshan Homz and Gurugram-based Central Park improve their respective Brand Rank this time around. Ace Group that entered into the elite list of Top Brands in the region for the first time last year has been Brand Performer and scales up to Number 7 this fiscal year. Eldeco comes back in the elite list of Top 10 Brands of North India at impressive level of Number 8.
M3M retains its last year’s Brand Performance at Number 9. Developers like Sobha and Adani are knocking the doors of Brand Leadership in the region and it is expected that moving forward a few new names will replace some of the today’s leading brands.
SOUTH INDIA
It has been a pretty ordinary year and the most brand conscious zone of South India could not witness any significant trend. Sobha Limited retains its brand leadership for the 7th consecutive year this time; it nevertheless loses its Brand Score. Prestige Group retained its 2nd position of Brand Leadership yet again this time with lesser Brand Score.
Embassy had the worst year this time around and scaled down 2 spots of Brand Leadership in the region to be at Number 5 now. Brigade proved to be a resilient brand amidst the pandemic to be scale up as Number 3 Brand in South India; its Brand Score remains the same as last year. Puravankara has been another significant performer in the region with 2 spots upgradation of its Brand Rank at Number 4 this year; could improve its Brand Score as well.
Godrej Properties scales down one spot to be at Number 6 this year. Akshaya scales up one spot of Brand Leadership to be at Number 8 this time around. Total Environment drops down a level to be at Number 9 this fiscal year; its Brand Score remains the same as last fiscal year.
RESIDENTIAL
Residential Segment is witness to most fierce Brand Competition and some of the leading names that could not make it to Top 10 were pretty closer in the race. Sobha Limited continues to be Brand Leader in Residential Segment, even though it has lost its Brand Score this time. All the Top 4 Brands in the Residential Segment – Sobha, Godrej, Prestige & Oberoi – retain their respective last year’s Brand Rank with slightly lesser Brand Score.
Brigade Group gains this fiscal year to scale up as 5th Best Brand in Residential Segment. DLF Limited is pushed down at Number 6 in the segment in a year when its overall Brand Perception has improved. Puravankara and Sunteck Realty retain their last fiscal year Brand Rank respectively. Hiranandani exits the elite list of Brand Leaders in Residential Segment this time around.
K Raheja Corp comes back as among the Top 10 Best Residential Brand at Number 9. Ashiana Housing exits the Top Residential Brand this fiscal year. Piramal Realty also comes back as among the Top Residential Brand yet again at Number 10.
SUPER LUXURY
The Top 3 Brands in Super Luxury – Sobha, Prestige & DLF – have retained their respective Brand Leadership. No new brand could enter into the elite list of Top 10 Super Luxury this time around. The space is nevertheless very competitive with at least 3-4 brands being pretty close to the Top 10 Brands in the Luxury Segment.
Sobha Limited retains its Brand Leadership in Luxury for the 6th consecutive times. Godrej Properties is the Brand Performer in the segment that takes a giant leap from Number 7 to now 4th Best Luxury Brand. Oberoi Realty scales up 1 spot to be at Number 5 this fiscal year. Sunteck Realty slips down from Number 4 last year to Number 6 this time around.
K Raheja Corp also drops down to Number 7 from its last fiscal performance at Number 5. The Phoenix Mills jumps up 2 spots at Number 8 this fiscal year. Kalpataru and Embassy drops down 1 spot each to be at Number 9 and 10 respectively.
SENIOR HOUSING
Senior Housing is fast emerging as a key segment of housing post Covid-19. Ashiana Housing has thus far maintained its Brand Leadership in the segment and it also has the first movers’ advantage. Antara retains its Number 2 Rank in the segment. Brigade Group scales up as the 3rd Best Brand in the Senior Housing segment.
Columbia Pacific Communities enters into the elite league of Top Brands in Senior Housing with an impressive performance at Number 4. Covai Property Center scales down 3 spots in Brand Rank this fiscal year to be at Number 5 now. Paranjape Schemes loses 1 spot to scale down at Number 6 this fiscal year.
Vedanta Senior living retains its last year performance at Number 7 yet again; its Brand Score has also improved a bit. Silverglades drops from last year’s Brand Rank of Number 6 to now at Number 8. Adani Realty scales up at Number 9 and Rakindo drops down at Number 10 this fiscal year. The Golden Estate exits the elite list of Top Brands across Senior Housing.
OFFICE
It has been one of the worst year for Office space post Covid-19 pandemic. But the success of REITs indicate there would be tough Brand Competition in this space ahead. DLF is back as the Best Brand in Office Space segment after a gap of 4 years. Embassy is back to Number 2 position in the segment after 4 years of Brand Leadership.
K Raheja Corp, Prestige Group and RMZ Corp retain their respective Brand Rank at Number 3, 4 and 5 yet again. Panchshil Realty makes a giant entry into the elite list of Top Office Space Brands at Number 6 this fiscal year. Hiranandani drops one level this fiscal year to be at Number 7 now.
Brigade Group retains its Number 8 Brand Rank yet again. Godrej Properties loses 2 spots and scales down at Number 9 this year. Salarpuria Sattva retains its Brand Rank at Number 10 yet again. Oberoi Realty loses its Brand Competitive Edge to exit the elite list of Top Brands in the Office space segment.
RETAIL
The Top 3 Brands in Retail Segment continue to have their respective market dominance in the most challenging year for Indian Retail. Phoenix Market City continues to be the market leader as a Retail Brand. DLF Ltd & Prestige Group are pretty close to the National Brand Leadership in the segment.
K Raheja Corp, Virtuous Retail and Lulu Group also maintain their respective Brand Rank. Brigade Group elevates its Brand Rank from Number 9 to now at Number 7. South City and Oberoi Realty scale down 1 spot each to be at Number 8 and 9 respectively. Ambuja Neotia enter into the elite list of Top Retail brands.
This is the 1st time that 2 Retail Brands are coming out of the East India. Ambience Group exits the list of Top Brands in Indian Retail market. Most of the Top Retail Brands are coming out of the South, West and East India. Delhi-NCR of North India, once referred as the Mall Capital of India, has only 1 Brand in the Top 10 list.
HOSPITALITY
A pretty ordinary year for the hospitality sector in general but yet Brand Performance in terms of top of the mind recall has not been static. Prestige Group continues its market dominance as Brand Leader in Hospitality Segment, even though its Brand Score has taken a hit.
Embassy Group and Brigade Group scale up one spot respectively to be 2nd and 3rd Best Brand in the segment. K Raheja Corp loses its Number 2 position and scales down at Number 4. Panchshil Realty scales up one spot to be at Number 5, while Phoenix Mills jumps up two level to be at Number 6 this time around.
Oberoi Realty slips down 2 spots to be at Number 7 and ABIL Group drops down 1 spot to be 8th Best Brand in Hospitality now. Salarpuria Sattva jumps up 1 spot to be at Number 9 Brand. Eros Group exits the Brand Leadership of Hospitality Segment. Ambuja Neotia enters into the elite list of Hospitality Top 10 Brands for the first time this year.
HOME FINANCE
Housing Finance is a segment to watch out for post Covid as the lenders’ increasing focus on asset quality and borrowers’ LTV (Loan to Value) remain an area of concern. The Top 4 Brands in Housing Finance maintain their respective Brand Leadership in the segment yet again. Indiabulls Housing Finance scales up 1 spot to be at Number 5.
Bank of India scales down 1 spot to be 6th Best Brand in Housing Finance. LIC Housing Finance makes a surprise jump of 3 levels to emerge as the 7th Best Brand in the segment. Piramal Capital & Housing Finance is back among the Top 10 Brands after a gap of 1 year. Bank of Baroda scales down from Number 8 to Number 9 this time around.
Tata Capital is witness to biggest Brand Loss this fiscal year and at 3 level down it is now Number 10 Brand in the segment. IDBI Home Finance exits the Top Leadership Chart. Overall only 3 public sector and 7 private sector players dominate the Brand Leadership of Housing Finance in India
METHODOLOGY APPLIED
This is the 1st time that Track2Realty BrandXReport has completely relied upon the online survey to assess the perception of the brands in a pandemic-hit market. In a logistically challenged environment after the partial lockdown and people restricting their movements, there has been no better way to rate & rank the respective real estate brands. The sample size that was once 10,000 has also been hence reduced to only 4,000 participants.
The methodology otherwise has been the same three-pronged: In-house research with whatever information available in the public domain. Whatever information may sound to be vague, but that is the reality in a business where the majority of the companies are not listed, even debt not on the books, and the developers’ reluctance, denial or non-cooperation in providing the data, including the fiscal data and inventory status.
Backed with the research of available data in the public domain, Track2Realty got into an extensive online poll to get the respondents from across the country. The consumers were asked many open-ended and close-ended questions about their experiences & perception about the sector and the respective companies. The focus has been to gauge the post pandemic mood of the consumers and trust index of the companies.
We also solicited the opinion of neutral experts in our jury board. In all this exercise more than half the weightage was given to the consumer survey.
Track2Realty is an independent media group managed by a consortium of journalists. Starting as the first e-newspaper in the Indian real estate sector in 2011, the group has today evolved as a think-tank on the sector with specialized research reports and rating & ranking. We are editorially independent and free from commercial bias and/or influenced by investors or shareholders. Our editorial team has no clash of interest in practicing high quality journalism that is free, frank & fearless.
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