ENTREPRENEURSHIP IS VALUABLE FOR DEVELOPMENT OF YOU AND NATION BOTH

1. Anuj Ranjan
Brookfield India & Middle East
Mumbai Area, India
Investment Management
Profile:
Anuj Ranjan, 37 yr.
Current Job- Managing Partner, Brookfield Asset Management India
Previous Job- Strategem Properties, Messaging direct/ ACI Worldwide (CANADA)
Education- Ivey Business School at Western University
MBA (2004 – 2006) &
University of Alberta
B.Sc., Computing Science (1996 – 2000)
Claim to fame: Responsible for bringing Brookfield, one of the world's largest investors, to
India
Who I want to be when I am 50: I want to be doing the same thing ... just with more grey
hair.
Success to me is: Peace of mind, both personally and professionally.
The best advice I ever got: "The only thing worse than making a bad decision, is not making
a decision at all," from my boss and mentor, Cyrus Madon.

2. Background:
 Anuj Ranjan joined Brookfield in 2006 where he has held various positions within the
company and its affiliates, including mergers and acquisitions, private equity and real
estate advisory.
 In 2009, Anuj relocated from Toronto to Mumbai, where as Head of Middle East and
South Asia he is responsible for Brookfield’s operations and investing activities in the
region.
 Anuj holds a Bachelor of Science degree from the University of Alberta and a Masters of
Business Administration from the Richard Ivey School of Business.
Experience:
Managing Partner Brookfield
Brookfield Asset Management
May 2006 – Present (10 years 5 months)
Anuj joined Brookfield in 2006 and was based in Toronto prior to relocating to Mumbai in
2009, where he is currently responsible for Brookfield's business initiatives in India and the
Middle East.
Anuj Ranjan has been involved in over $20-billion of real estate and infrastructure
transactions with Brookfield globally.

3. Principal:
Strategem Properties
April 2002 – April 2006 (4 years 1 month)
Founded and operated a real estate investment firm which acquired, zoned, serviced, and
developed a total of 1,120 acres of residential land in Western Canada.
Software Developer:
Messaging Direct / ACI Worldwide
1999 – 2002 (3 years)
Developed secure email messaging software for a technology start-up which witnessed
significant growth during "internet boom" years. Messaging Direct was successfully sold in
2000 to Transaction Systems Architects (later ACI Worldwide).

4. India Bull: Brookfield may invest $2 billion more
in 2 years as plum assets come up for grabs
MUMBAI: Brookfield, the Canadian asset manager could invest over $2 billion in India over
the next 2-3 years to buyout upscale offices and commercial towers, stranded roads, power
and utilities infrastructure as it aims to double its existing asset base in the country.
Fresh from raising $14 billion to invest in infrastructure, believed to be the largest single
commitment to the sector of its kind, the Toronto-based group is believed to have been
approached to partner the government’s National Investment and Infrastructure Fund
(NIIF), coming on board as one of the key sponsors to the Rs 40,000-crore corpus.
"We are buying into the long term India story. The overarching theme is one of exciting
macro prospects amidst challenging micro prospects," Anuj Ranjan, Country Head, India,
Brookfield Asset Management told ET over an hour long interaction to discuss the India
blueprint, his first ever media interview since setting up shop here in 2009-10. "There are
periods of time in most cycles and most countries when you have this sort of disconnect.
India does have its share of challenges, but if you have the operating platforms, we don't
think the challenges are insurmountable. Right now, we have the opportunity to go after the
best assets."
Surpassing heavyweights Carlyle, KKR or even Apollo, Brookfield, is the world's 2nd
biggest manager of alternative assets like real estate and private equity with $250 billion of
assets.
In the last six years, Brookfield India has managed to break clutter and establish themselves
as an owner and operator of high profile, chunky assets and complex businesses. In one of the
largest commercial real estate transactions, Brookfield bought out Unitech Corporate Parks
Plc. (UCP), a portfolio of six assets including special economic zones and information
technology (IT) parks, in 2014 for around Rs 4700 crore. This August, Gammon
Infrastructure Projects Ltd agreed to sell its portfolio of six road and three power projects to
BIF India Holdings Pte. Ltd, an entity controlled by Brookfield and Core Infrastructure India
Fund Pte. Ltd for an enterprise valuation of Rs 2000 crore.

5. "People forget that Gammon till recently was among the largest civil contractor in the
country who had significant government contracts. They have built some phenomenal assets
and most of them were operating and had consistent cash flows," explains Ranjan.
Post these acquisitions, Brookfield today is among the few foreign player to own 100 per cent
of a roads and office portfolio in the country. It had also taken over the AIG Global Real
Estate India's platform along with its 2 land parcels of 4 million square feet that are currently
under active development. It started investing 2012-13, with $20 million in Kotak Mahindra
Bank Ltd's infrastructure fund and subsequently tied up with Peninsular Land for mezzanine
lending to residential projects.
"We wanted to create different operating platforms that could then run businesses or assets
effectively on their own. With the acquisitions and partnerships, we can now look at very
operationally intensive businesses and sectors," said Ranjan, (37), who was born and bred in
Edmonton, Alberta and came to India only for the 1st time in his life to open the local office.
Today those platforms are in place and with 400 people in the team, Brookfield rivals some
of the biggest real estate and infrastructure companies in the country in heft.
Personally for Ranjan, Mumbai today is home and he doubts if he will go back to Canada
anytime soon.

6. Distress opportunities:
His baby face belies the aggression and intent but the distress and indebtedness across India
ink has given Ranjan the opportunity to cherry picks some of the marquee assets. Globally,
the group also seeks to be countercyclical, buying during distressed periods. In India, in
recent times its name as a potential suitor has repeatedly cropped up in almost all multi-
billion M&A transactions - from DLF or Hiranandani's office portfolio to Reliance's telecom
towers.
"Our core areas -- property, infrastructure, power and private equity, that is building materials
and industrial businesses -- happen to be where a lot of the stress is. But the assets themselves
are not stressed, but are world class. They just happen to belong to businesses that are
stressed," said Ranjan.
With most of the stressed assets on the banks' balance sheets sitting in core industries like
steel or thermal power, the state owned banks aren't in the best position to run the business
themselves. Many are already non-performing assets so can't necessarily get fresh funding.
Such troubled assets with dislocated capital structures need new sponsors. In cement,
highlights Ranjan, larger Indian conglomerates like Kumar Mangalam Birla led Ultratech
have stepped in to scoop up big portfolios but so far the interest from foreign companies and
funds have been muted. That's where Brookfield thinks it offers its unique strengths by
bringing not only the financial capital but also operational expertise, which is essential for
turnarounds.
"People ask us whether we are we a strategic buyer or a PE fund. In fact, we are a strategic
that evolved into a private equity fund over a decade ago, and so we actually bring both
together."
Ranjan won't talk specifics but Brookfield is also believed to be in discussions with State
Bank of India, the country's largest lender, about forming a joint venture and pooling in a
billion dollars for the bank's stressed assets.

7. Prized offices:
The firm, listed on the New York and Toronto exchanges, recently raised a $9bn property
fund and has boosted its public profile after a series of high profile shopping spree. Last year
it, bought London's Canary Wharf while in New York it is behind Brookfield Place,
originally known as the World Financial Center, a complex of office buildings located across
West Street from the World Trade Center site in the Battery Park City neighborhood of
Manhattan.
"The main difference in our business is that it's very operationally focused. PE is just a form
of financing. We are the largest investor in of our funds and invest about 30-40 per cent in
any of our opportunistic funds. We are an asset manager but we are not in it just for asset
management," explains Ranjan.
The obsession about operating and sweating assets is part of an organizational DNA. Being
long dated with 10-12 years of investment horizon helps to take bolder bets and ride out
business cycles.
Patience is always a virtue. It took Ranjan and his team two and a half years to complete the
Unitech trade. "We like to do 100% acquisition. Secondly, we like to buy large scale
portfolios which you can then grow instead of single asset opportunities, especially when we
are new in a market. Finally, we wanted to buy a platform, with an operating team who can
help us run a business," he recalls explaining the investment thesis.
Being among the largest owners of office space, Brookfield is now keen to expand in
Mumbai, increase exposure down south and even in national capital region (NCR), there are
opportunities for growth. Peer Blackstone - the largest PE fund in the world - is also the
largest owner of office parks in the country, almost double of Brookfield's 16 million square
foot portfolio.
"Looking at the rents that are in place, it doesn't necessarily make sense to buy new land, get
new FSI and build new office. So without a whole lot of office supply probably coming
online, but demand growing substantially, there is going to be improvement in rents,"
predicts Ranjan.

8. "Stable and even growing demand of the commercial real estate, low volatility of income
streams and falling interest rates which can provide opportunity for value maximization is a
key attraction feels Amit Khandelwal, National Director and Partner, Transaction Advisory
Services, EY. "Currently valuations are also reasonable and there is availability of some
sizeable quality assets."
Investment Strategy:

9. Assignment
of
“Project Management”
MASTER OF BUSINESS ADMINISTRATION
2015-2017
Submitted to: Submitted by:
Prof. Pankaj Madan Sandeep Kumar
(Head & Dean) RN.22
MBA III sem.
FACULTY OF MANAGEMENT STUDIES
GURUKUL KANGRI VISHWAVIDYALAYA
HARIDWAR-249404