Bhavik Bhandari: Leading Ashwin Sheth Group’s Journey to Real Estate Prominence
The 10 Most Influential CMOs In India To Watch in 2024
Bhavik Bhandari | Ashwin Sheth Group
The Indian real estate market is booming, with a growing demand for innovative and luxurious living spaces. At the forefront of this progress is the Ashwin Sheth Group, a company that has redefined what it means to be a leader in the industry.
Founded in 1987 by the visionary Ashwin Sheth, the Ashwin Sheth Group has carved a niche for itself with its commitment to cutting-edge design and a forward-thinking approach. Their impressive portfolio boasts over 80 luxury projects, including landmarks like Viviana Mall in Thane, Iris Bay in Dubai, Montana in Mulund, and BeauMonde in Prabhadevi. Collaborating with the finest Indian and international names in architecture, design, engineering, and construction, they’ve delivered exceptional value to their clientele, providing homes to over 25,000 families and developing more than 38 million square feet of prime real estate.
With a focus on massive expansion, the Ashwin Sheth Group is poised to become a top 10 developer in India. They’re not just building residences and commercial spaces; they’re entering diverse product segments like ultra-luxury living, gated communities, and retail developments. As they embark on this exciting new chapter, we were honored to feature them in our prestigious The 10 Most Influential CMOs In India To Watch in 2024 edition.
To get an insider’s perspective on the company’s vision and future plans, we sat down for an exclusive interview with Bhavik Bhandari, the CSMO of the Ashwin Sheth Group. Stay tuned for insights, advice, and a glimpse into the mind of a real estate leader!
Prime Insights: What strategies do you use to maintain a sense of well-being while managing your professional and personal lives?
Work-life balance is key! I prioritize, delegate, and schedule time for work, family, hobbies, and personal growth endeavors. I place significant emphasis on quality time spent with family and self-care activities, recognizing their pivotal role in enhancing my professional performance. I avoid work-life blending and leverage technology for efficient multitasking.
Regular introspection is a cornerstone of my approach, helping me adjust my work-life balance. I find solace and focus in the support of my close colleagues, family, and friends, who form an integral part of my support system.
I firmly believe that achieving equilibrium between personal and professional life necessitates conscious effort, ongoing adjustments, and a steadfast commitment to holistic well-being. While I acknowledge that I haven’t yet attained a perfect balance, I remain steadfast in my pursuit, steadily progressing towards that goal.
Prime Insights: What types of clients does your company cater to, and are there any notable mentions among them?
Our attention has consistently centered around the upscale, luxurious residential sector, especially in prominent urban centers such as Mumbai and Thane. Our customer base consists of HNIs, influential business figures, NRIs, millennials, and other discerning clients in search of top-tier living standards. We’ve earned acclaim for creating opulent, amenity-packed developments that appeal to buyers seeking the utmost in real estate excellence. Furthermore, our clientele encompasses renowned celebrities, esteemed personalities, and top executives from leading corporations.
Prime Insights: How do you keep up the pace with the changing market trends?
To stay ahead of market shifts, I gather constant intel on trends, consumer preferences, and competitor moves. I actively network with industry leaders and embrace continuous learning. By unlearning and relearning, I stay adaptable and relevant in this ever-changing environment. Engaging with other leaders in the field allows me to gain insights from their experiences and learnings, enriching my knowledge base. Being a quick learner, I adeptly adapt to new developments, ensuring that I remain resilient in the face of changing market dynamics. Periodically, I engage in a cycle of learning, unlearning, and relearning, continuously evolving to stay relevant in the ever-evolving business landscape.
Prime Insights: Do you believe R&D is essential for the growth of the company?
I firmly advocate for the significance of research and development (R&D) in driving business growth, acknowledging that its prioritization may vary depending on industry specifics and organizational requirements. To foster growth, I consistently engage in various initiatives, including:
- Conducting detailed analyses of market dynamics, shifts in consumer trends, emerging segments, and potential new markets.
- Studying successful product launches by competitors and consumer-facing offerings to inform our strategies.
- Implementing initiatives to strengthen distribution channels and partnerships.
- Conducting thorough features-advantages-Benefits (FAB) analyses to assess our products in comparison to competitors across all aspects.
- Leveraging new technologies to acquire new customers and enhance customer experiences, thereby increasing brand loyalty.
- Mapping industry lead times, payout processes, conversion ratios, pricing strategies, and velocity mapping to inform strategic decision-making.
These efforts enable us to adopt a well-informed and strategic approach towards achieving our business objectives and positioning ourselves as leaders in the market.
Prime Insights: Do you feel CMOs today face equal competition or is there an ‘it’s okay’ attitude to it?
Today’s CMOs face a brutal battlefield. Technology keeps changing the marketing landscape, forcing them to adapt to new tools and channels. Consumer behavior is in flux too, with evolving needs, desires, and values demanding constant strategy updates. Intensified competition means a fierce fight for customer attention, requiring constant innovation. Finally, pressure to prove marketing ROI and deliver personalized experiences adds another layer of complexity. The increasing demand for customized experiences, messaging, products, and services adds further complexity, as CMOs are tasked with consistently delivering results and relevance to meet evolving customer expectations.
Prime Insights: How necessary do you feel it is to keep your employees content? How do you ensure it?
Happy employees are the backbone of success! A motivated worker is a powerhouse, boosting productivity, morale, customer satisfaction, and even reducing costs through lower turnover. They become loyal brand ambassadors.
To achieve this, I prioritize clear communication and recognition. Personal appreciation, team acknowledgements, and praise from leadership all play a role. Rewards include increased autonomy, expanded roles, and fast-track growth opportunities like higher education support.
However, this approach requires tailoring recognition and rewards to each individual. This recognition extends to senior management, including the CMD and HR, influencing appraisals and reinforcing a sense of belonging. We recognize achievements with both praise and financial rewards. Top performers get more responsibility, leadership opportunities, and even support for further education.
Prime Insights: Who do you look up to, and what do you convey further to the ones who look up to you?
I don’t adhere to following any single known personality but rather draw inspiration from a diverse array of individuals who inspire me in various ways. These inspirations stem from their values, leadership styles, knowledge, ambitious dreams, relentless pursuit of goals, positive attitudes towards work and life, their treatment of others, and their ability to stay motivated in the face of challenges. I particularly admire how leaders reinvent themselves after each wave of change in the business landscape, as well as those who demonstrate extreme patience, courage, and spirituality.
I find sources of inspiration in various aspects of life, including:
My parents, who impart valuable lessons on leading a fulfilling life, navigating different roles in personal relationships, handling success and failure, nurturing relationships, and fulfilling social responsibilities,
Friends who keep me grounded despite any success I may achieve.
Senior industry leaders who possess a broad perspective and apply different approaches to achieve holistic solutions.
A wealth of literature, including books, articles, biographies, and documentaries, features renowned historical figures such as powerful rulers, influential dynasties, political leaders, and pioneering businessmen who have forged their paths and left lasting legacies. Peers, colleagues, and team members who inspire me with their ability to build synergies, foster collaboration, and align with the overarching goals of our organization.
By drawing inspiration from this diverse pool of individuals and experiences, I continuously seek to grow personally and professionally, striving to embody the best qualities of those who motivate me.
Prime Insights: What are your thoughts on CMOs’ participation in the entrepreneurial world?
In the contemporary business landscape, Chief Marketing Officers (CMOs) possess a distinctive opportunity to utilize their expertise in marketing strategies, consumer behavior, and market trends to make a significant impact in the entrepreneurial sphere. Collaborating closely with owners, founders, managing directors, and CEOs, CMOs can play a pivotal role in driving growth, strengthening brand presence, and devising effective strategies to engage potential customers.
CMOs offer invaluable insights to organizations by comprehensively understanding target audiences, identifying market opportunities, and implementing innovative marketing approaches to differentiate the brand within a competitive marketplace. Their proficiency in data analysis, performance measurement, and adaptability to evolving market dynamics can serve as guiding forces in steering the strategic trajectory of a company.
Moreover, CMOs can foster collaboration with key stakeholders, including CEOs, product managers, and sales teams, to ensure alignment between marketing initiatives and overarching business objectives, thus facilitating sustainable growth. By amalgamating their marketing acumen with a profound understanding of the entrepreneurial landscape, CMOs are poised to play a pivotal role in shaping the success trajectory of businesses.
In essence, CMOs who actively engage in the entrepreneurial domain bring a wealth of knowledge, skills, and experiences that are instrumental in fostering the growth and prosperity of organizations.
Prime Insights: What message do you want to give to those CMOs who give up on their dreams because of some stereotypes?
For CMOs encountering stereotypes and considering relinquishing their aspirations: Keep in mind that stereotypes are merely presumptions, not realities. Your skills and potential surpass any societal labels that may be placed on you. Embrace your individuality, defy stereotypes with your outstanding performance, and forge a path for others to emulate. Although your journey may present hurdles, it is through overcoming these challenges that resilience and character are forged. Remain steadfast in your passion, have faith in your capabilities, and let your achievements dismantle stereotypes, setting a new standard for future generations.
Prime Insights: What does the company hold for it in the future (plans)?
The Ashwin Sheth Group has outlined an aggressive and multifaceted roadmap for the future. At Ashwin Sheth Group, we are strategically expanding our residential and commercial portfolio in the MMR region and expanding our business segments, crafting luxurious projects, and embracing sustainable construction practices to align with shifting market dynamics. Embracing the significance of technology, the group is investing in PropTech solutions to streamline operations and elevate the customer experience, further solidifying its reputation as a dependable, quality-driven developer. We have already implemented SAP, Sales Force, Smart App, and HONO, to name a few.
Expansion remains a central focus, with plans to aggressively augment its residential and commercial portfolio within the Mumbai Metropolitan Region, introducing fresh projects across various suburbs, and then looking beyond the immediate city into other metros as well. The group’s projects will continue to be characterized by innovative, user-centric designs that strike a balance between functionality and aesthetics, prioritizing sustainability and energy efficiency while offering an array of modern amenities. As we are on an expansion spree, we are also actively focusing on hiring senior talent and focusing on employee wellbeing. We recently collaborated with Uber India for safe transportation with a stress-free commuting experience.
Ashwin Sheth Group also aims to address the escalating demand for affordable housing solutions. This demonstrates the group’s adaptability and dedication to meeting the diverse needs of the market.
Prime Insights: What milestones and achievements does the company boast of?
An award-winning company, The Ashwin Sheth Group boasts a rich legacy of spearheading luxury real estate development in India, consistently delivering outstanding projects that set new benchmarks for luxury living. Among its notable achievements are iconic landmarks such as Vasant Nagari in Virar, Beaumonde in Prabhadevi, the CNergy Commercial Building in Prabhadevi, and the prestigious Viviana Mall, one of the biggest malls in the MMR region.
Expanding its reach beyond borders, the group has also made significant strides in Dubai, completing four esteemed projects in the emirate. Additionally, the Ashwin Sheth Group has collaborated with the Emami Group to construct Montana, a highly sought-after project and iconic gated community project in the central suburbs of Mulund. Moreover, the group has played a pivotal role in shaping the Thane Platinum Belt, transforming it into a bustling hub within the central suburbs. This vibrant belt encompasses a diverse range of developments, including residential, retail, commercial, educational, and healthcare facilities, contributing to its status as one of the most dynamic destinations in Thane.
Ashwin Sheth Group, a veteran in the Western Suburbs, recently unveiled its 15th project in Kandivali, ‘EDMONT: Aurelia,’ in partnership with K Hemani. The Ashwin Sheth Group’s latest tower launch, “Fern,” at the Sheth Vasant Lawns, one of the iconic developments in Thane, stands as a testament to the group’s commitment to elevating the standard of luxury living.
Prime Insights: How are you giving back to society (CSR)?
As a business leader, I actively engage in corporate social responsibility (CSR) initiatives to contribute to society in various ways. Some of the initiatives I regularly undertake include:
Cause Marketing Campaigns: I prioritize the development of marketing ideas and campaigns that align with social or environmental causes. These initiatives serve to raise awareness within society while also generating funds to support NGOs.
Sustainability Initiatives: Within my organization, I advocate for the adoption of sustainable business practices. This includes efforts to reduce paper usage, conserve energy, implement green initiatives, and minimize waste. Communicating these initiatives through marketing platforms helps to enhance our brand reputation and showcase our commitment to environmental responsibility.
Community Engagement: I actively plan and participate in community engagement programs aimed at supporting various social causes. These efforts may include initiatives such as promoting girl child education, providing support to senior citizens through food and clothing donations, organizing health camps, conducting donation drives, and actively participating in local social communities to assist those in need.
In summary, I strive to contribute in my capacity by not only leading and participating in social cause initiatives but also by fostering hope for change and raising awareness within society for a meaningful impact on people’s lives.
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