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Project report for summer internship (2 months)
PROJECT REPORT
“A Study OF EMPIRE PRIME
REAITY.”
Submitted By
Shreyas Chavan
(13053)
Under the Guidance of
Prof. Rahul Shah
SIR M. VISVESVARAYA INSTITUTE OF MANAGEMENT
STUDIES & RESEARCH
SEWREE – WADALA ESTATE, WADALA,
MUMBAI -400031
ACADEMIC YEAR 2022-2024
2
DECLARATION
This is to declare that I, SHREYAS CHAVAN, a student of Sir M. Visvesvaraya
Institute of Management Studies (SVIMS) MMS batch 2022-2024, has given original
data and information to the best of my knowledge in the project report titled “A Study
OF EMPIRE PRIME REAITY.” is a record of independent work carried out by me
under the guidance and supervision of the Dr. RAHUL SHAH towards the partial
fulfilment of requirement for the M.M.S. degree course under University of Mumbai.
I also agree in principle not to share the vital information with any other person
outside the organization and that I have not submitted it for any award or any other title,
degree or diploma.
Date: 21th
October 2023
Name: Shreyas Chavan
Place: Wadala, Mumbai Specialization: Marketing
Batch: MMS
Roll No: 13053
Signature of the Student
3
CERTIFICATE
This is to certify that the project entitled “A Study OF EMPIRE PRIME REAITY.”,
submitted to Sir M. Visvesvarya Institute of Management Studies (SVIMS) Mumbai in
the partial fulfilment of the requirements for the award of the degree of Master in
Management Studies of University of Mumbai embodies the results of Bonafede
project work carried out by SHREYAS CHAVAN under my guidance and supervision.
To the best of my knowledge the results embodied in this project have not been
submitted to any other university or institute for the award of Degree or Diploma. The
assistance and help received during the course of this investigation has been duly
acknowledged.
Project Guide [ ]
Dr. RAHUL SHAH Signature of the Guide
Date: 21st
October 2023
Place: Wadala, Mumbai
4
5
INDEX
Chapters Particulars Pg No.
PART – A
1 Introduction 6-7
2 Mission And Vision 8
3 Structure
Executive Summary
9-11
4 Object of Study 12-20
5 Porters 5 forces 21-22
PART – B
6  Experiential Learning Project
 Observation
23-25
7 SWOT Analysis 26-27
8  Reference
 Summer Internship Report
28-29
PART – C
9 Learnings from the Summer Internship 30-31
6
Chapter. 1
PART A: PROFILE OF THE ORGANISATION
Introduction
EMPIRE PRIME REALTY
We are a multi-divisional public limited company engaged in
diverse businesses, headquartered in Mumbai, with the legacy of 125 years of a strong
customer-focused approach and a continuous quest for world-class quality. We are market
leaders in all our businesses, including various leading industrial businesses, the building &
leasing of commercial properties, managing business centers. and developing real estate.
Over the years. Empire Industries has collaborated with many major national and international
organizations across varied sectors. With our mission of To be the best in the marketplace, not
necessarily the biggest, our business ventures secure a leadership position across respective
industries. The best of minds coming from diverse roles across their career. Empire Prime
Realty is constantly developing processes and solutions to improve customer experience,
ensuring to fulfil the needs and requirements of a homebuyer with the right project of our
empaneled developers.
Empire Prime Realty is a bridge that connects our empaneled developers with the actual home-
buyers in the market. We ensure a smooth and never-seen-before approach of providing End-
to-End Solutions to both the parties.
We at Empire Prime Realty are building the first modern and unconventional platform in real
estate focusing on every detail of the customer needs as well as the developers, while being
conventionally ethical combined with industry’s top talent and technologyto make it intelligent
and seamless.
7
Remarkable
 For Developers
Assuring your growth and sustainability along with reducing on the overall cost and bring
consistency in sales, but above all, doing it the ‘right’ way.
 For Customers
A century old legacy-backed real estate company (since 1900) with one main purpose to deliver
exceptional services with no compromise on transparency and ethical practices.
 For Employees
We believe in never ending Passion for Excellence by providing Transparent opportunities and
support leading towards personal growth, while ensuring work-life balance and utmost respect
towards our employees.
8
Chapter. 2
Vision and Mission: To be the most trusted, secured and followed organisation
for everyone. At any given point in time, our utmost priority will only be
Customer Delight while our team will be thinking of innovative solutions as our
passion is to strive for excellence.
9
Chapter. 3
Structure:
We have begun with 4 branches across MMR with dedicated professional, seasoned experts.
1. MMR ZONE I -Thane Branch (Thane & KDMC)
2. MMR ZONE 2 - Navi Mumbai Branch (Navi Mumbai and part of Raigad)
3. MMR ZONE 3 - Central Branch (Central Mumbai Mulund and Mankhurd to CST)
4. MMR ZONE 4 - Western Branch (Western Mumbai Churchgate to Virar - VVMC)
EXECUTIVE SUMMARY
The realty industry today has changed so much that each sector needs special skills to make it
work efficiently. All over the world, prices are fluctuating. Global agencies monitor trends in
the top influential cities. With many foreign investments in India and NRIs returning, the Indian
property market watch is on the top most of every big agency.
Mumbai is the costliest city to live in Asia. To understand real estate marketing, one should at
least have the minimum knowledge required to step into the complex industry. Out there, plenty
of smart operators are looking for suckers. They may not be dishonest but will technically
confuse you to pay higher price and outsmart you. Therefore, if you know your onions and the
deep layers beyond the skins it helps to get the best.
The purchasing power of the new generation of Indians has increased. They are investing in
real estate in a big way- in terms of investment and assets. People have acquired refined tastes
in housing needs and become professional in dealing with builders. Financial companies and
banks have given a boost to real estate marketing as well. To add to this the government has
allowed foreign investors also to test the market conditions here have helped. Every area of
real estate be it industrial, retail space, malls, office complexes, residential colonies, hospitals,
clinics and other healthcare units have a vast potential for growth.
As more opportunities grow for people to work, they also wish to invest in places close by to
live in. Builders or developers in various regions are now separately marketing each space.
10
Even home loan companies and banks are independently marketing the properties they are
giving loans. This helps them to guide their dedicated clientele and ensure the marketing trends
remain closely monitored for future development.
They generally have customer relationship executives who are assigned (usually area wise) to
assist customers in making decisions. They do have good knowledge, are professionals on the
job and customers do benefit if they are not very familiar with various technicalities. Each
company has its own marketing device and portfolio to attract
Customers. Various tie ups with groups in India and overseas have taken place this year with
increase in FDI. MGF Developments based in New Delhi and Emmar Properties based in Dubai
have joined hands in the first quarter of 2006 for investments within the country. Nowadays
most of real estate focus is on shopping malls and residential complexes. In some areas down
south, the thrust is on IT parks, and corporate offices and resorts.
However, on the other side everyone or every other executive does not feel the real estate sector
in India is being well marketed or managed. Yes, there are some grey areas, which need to be
covered up. For instance, foreigners who wish to invest or firms who are looking at Indian
partners are feeling the crunch of bureaucracy and familial ways of working. This obviously
makes it difficult for them to do business. The potential is there but it needs to be tapped wisely.
A proper way is to have real estate marketing with the right professionals. Everyone wants to
cash on the business.
After one and a half years of gradual consolidation, real estate in India has fathomed its own
comfortable ground, and is poised at the right threshold to take a giant leap in years to come.
While a differential pace of strengthening is evident across sectors, geographies and segments,
several property market indicators point to the fact that the industry has indeed bottomed out
in the current cycle. The fears of a possible double dip recovery have given way to beliefs in
the sustained healthy levels, if not a rapid growth.
The experience thus gained in this slowdown is invaluable and will serve real estate strategists
for years to come. The various stakeholders in the entire supply chain – the material
manufacturers, developers, property consultants, occupiers, investors and policy makers, have
all emerged stronger and primed than yesteryears. And, if we have taken our lessons right,
‘caution’ and ‘diligence’ would be the keywords for the industry in the medium term.
11
On one hand, the stakeholders can’t afford to sway on the riding waves of healthy demand, and
lose the ground advantage that they have so painfully regained by adapting to the rapidly
changing business environment. And on the other, the emerging opportunities should be
targeted with an unmatched favor of potential and pragmatism.
The year 2011 would usher a new decade of opportunities for Indian real estate, which will be
a test of sorts for its stakeholders between these two fringes of the fulcrum. And the winners
would be the ones who balance caution with diligence evaluating all the potential opportunities
with pragmatism.
Commercial Real Estate
o Office rents to start appreciating after mid-2011
o More outright purchases by occupiers as well as private equity players
o IT/ITES and BFSI would continue to account for 60-70% of office demand
Residential Real Estate
o Launch of premium products to continue, albeit at a slower pace
o Launch of Ultra Low Cost (ULC) Housing by private developers – ‘Housing for All’
o Large number of launches would continue to be in the range of INR 2,000-3,000 per sq. ft at
the leapfrogged suburban locations
o Impact on affordability will influence the price and absorption dynamics
o Sustainability to gain focus as the industry looks forward towards IGBC Green Homes
standards
Retail Real Estate
o More collaborative models such as revenue sharing to emerge in the sector
o Rents to remain stable except select prime locations
o Large number of malls slated to become operational
o Retailers would continue to expand beyond Tier I into Tier II and III cities
o More international retailers to venture into India
12
Chapter. 4
OBJECT OF STUDY
1. Properties Area wise – Separate sections of residential and commercial
nature
2. Property Valuation
3. Help in buying or selling property
4. Home Loans
5. Property Managers/ Property Brokers/ Property Agents etc.
6. Property Consultants and Designers
7. Sales Promotion
8. Sales Promotion and Advertising
LITERATURE REVIEW
The real estate market in India has become so huge that to get every thing or anything
specific within one roof is easy and difficult at the same time. With the kind of commercial
and residential property available –on rent/lease/ ownership one has to refer to portals or
good companies dealing in various listings. Generally typical real estate listing would
necessarily include the following heads:
Properties Area wise - Separate sections of residential and commercial nature:
Within this are included partnership, brokerage, requiring agents, and direct deals with
builders. The property rates of each area are usually determined every two three years unless
in a particular area shoots up due to construction or upcoming prestigious piece of property
(i.e., a five-star hotel, IT corporate park, shopping mall or multiplex). In such areas the rents
and buying properties do increase because of job opportunities and close residential
facilities.
13
Property Valuation:
Many old properties may not be in very good condition. But they still are valuable. Why?
Mostly because they can be refurbished or rebuilt entirely. This is why they usually fetch a
good price. But one cannot depend only on brokers or agents or property owners to evaluate
the land. Sometimes the owner is greedy and expects a bigger price, sometimes an agent in
between quotes a higher price so that it benefits him, sometimes the buyer may be just rich
and may not have rival bidders or competitors so quotes a fancy pricey according to his
choice.
But now the industry has attained a level of professionalism and valuers who have correct
knowledge and are impartial are used to assess the property. Even if it has to be handed over
from one brother to another the valuer needs to correctly assess the worth of the property.
Usually, a lawyer does the valuation so that a stamp of legality can be given to the property
and no disputes rise thereafter. A known property valuer will charge a good amount to the
job.
Property Managers/ Property Brokers/ Property Agents etc:
Dealing with one person who knows the entire property inside out is important. Usually when
an agent shows the property to a prospective client, he knows the property manager dealing
with it. He normally deals on behalf of the owner.
He looks after the property and keeps in good shape till it is sold to the next owner.
Brokers and agents now all over India have associations. So certified ones and those
registered with the respective associations will definitely not cheat you when you are buying
property.
Even if there are disputes it can be challenged or sorted out through the right channels. Real
estate listings usually give area wise contacts of brokers and agents listed with them. So even
if one does not know one a portal provides the details.
Property Consultants and Designers:
Now consultants are available for giving a better view of the industry in general. They are
aware of the rules, laws and regulations, which affect builders and buyers both. Each
consultant specializes in various kinds of property.
14
For example, property consultant dealing with industrial properties knows what
environmental laws and rules about violating them. He can help the owners to be on the right
side of the law. Some consultants deal exclusively in townships, residential areas and are
aware of the rules that govern them. A good consultant will always be an asset for the builder
he works for.
Designers are usually required by architects or by individuals who need homes to be
designed. Some firms employ designers, some of them free-lance or some do just renovation
work. Depending on the need they are listed too. They also deal with people with knowledge
of Vastu and Feng Shui-both applications are in vogue with clients.
Help in buying or selling property:
Sometimes an individual may want to sell his business and home and relocate to another
place. Real estate listings allow the person to choose various methods of disposal for the
same.
Home Loans:
Sometimes one falls short of a required amount or needs nearly 75% of the loan to buy a
house or an office premise. Generally, people apply for home loans. There are many financial
institutions, banks, private persons, and organizations, which lend money to fulfil dreams. It
is easy to obtain a loan if all paperwork is complete.
Today in India private bank HDFC and ICICI Bank and State Bank of India are the largest
lenders to their customers all over the country. They are also giving loans to NRIs to invest in
property in India.
Affordable Method:
Many companies set the promotion budget at what they think the company can afford. One
executive explained this method as follows: "Why, it’s simple. First, I go upstairs to the
controller and how much they can afford to give us this year. He says a million and half.
Later, the boss comes to me and asks how much we should spend and I say ‘Oh about a
million and half."
It is a method which is uncertain one and makes long-term planning difficult.
15
Percentage of Sales Method:
Many companies set their promotion expenditures at a specified percentage of sales.
Accordingly, the sales are set on the basis of sales.
In this specified sales percentage is decided for the promotional budget Advantages of this
method:
First, its use means that promotional budget varies with what a company can afford.
Second, it encourages the management to think in terms of the relationship among promotion
costs, selling price, and profit per unit,
Third, it encourages the competitive stability to the extent that competing firms spend
approximately the same % of their sales on promotion.
Inspite of the advantages, the % sales method has little to justify it. Its reasoning is circular: It
views sales as the determiner of the promotion rather than as a result. It leads to budget
setting by availability of funds rather than by marketing opportunities.
Competitive Parity Method:
Some companies set their promotional budget to achieve share-of-voice parity with other
competitors. Two arguments are made in support of competitive parity method. One is that
the competitor’s expenditure represents the collective wisdom of the industry. The other is
that maintaining a competitive parity helps prevent promotional wars.
Neither argument is valid. There are no grounds for believing that competition knows better
what should be spent on promotion.
16
Objective and Task Method
The objective & task method calls upon marketers to develop their promotion budgets by
defining their specific objectives, determining the task that must be performed to achieve
these objectives, and estimating the cost of performing these tasks.
Deciding on the promotion mix:
Companies face the task of distributing the total promotion budget over the five promotional
tools:
• Advertising
• Sales Promotion
• Public Relations and Publicity
• Sales Force
• Direct Marketing.
Whatever method a company adopts for promoting its product it must be from above
mentioned method.
Sales Promotion
Promotion is the final element in the marketing mix. After the nature of product is decided, its
price fixed and the methods of distribution decided, the manufactures have to take effective
steps in meeting the consumers in the markets. In the present consumer-oriented markets, it is
the duty of manufacturers to know what is required by the consumer. It is also their duty to
make the customers know where, when how and at what prices. The products would be
available.
17
Meaning of Promotion
The term promotion is the term and includes mainly three types of sales activity:
1. Mass impersonal selling methods (Advertising)
2. Face to face personal selling (Salesman ship)
3. Activities other than personal selling and advertising such as point of purchase display
(P.O.P.) show and exhibitions, demonstrations and other non-securing selling efforts. This
form of activity is called ‘Sales Promotion’.
There are two types of promotion blends: -
1. Pull Blend
2. Push Blend
Both of these are closely related to the channel of Distribution.
1. A pull blend is one in which mass impersonal, sales efforts are given the greatest emphasis.
The purposes of pull blend to pre-sell to the final consumers. So that they demand the product
at the retail level of distribution. The firm adopting this strategy would spend more on
advertising and sales promotion rather than in personal selling. These efforts pull down the
product from the manufacturer.
2. A push blend emphasizes personal selling. Naturally firms adopting this method develop a
strong sales force at both the distributor and the dealer level. This method would tends to push
the product through the channel of distribution.
Promotion and Selling
The term promotion is very often used as a synonym for selling. But selling is a narrow term
which includes only transfer of title or personal selling. Promotion on the other hand is broader
in its outlook and includes a variety of activities used ultimately for increasing sales volume.
Promotion and Sales Promotion
18
Similarly, the terms sales promotion cannot be taken to mean what is commonly does. Sales
promotion, is only a part of the promotion. Basically, promotion is an "exercise" in information
persecution and influence. Promotion has come to mean the overall co-ordination of advertising
selling, publicity and public relations. Promotion is a helping function designed to make all
other marketing activities more effective and efficient. But sales promotion as such helps only
the selling activity still, there exit same difference of opinion on the real connection of the term
sales promotion.
Acc. to A.H.R. Delons :-
“Sales promotion means any step that are taken for the purpose of obtaining or increasing
sales.”
Acc. to W.Q. Kelly Opines :-
“Muddled misused misunderstood that is sales promotion Acc. to him the field of sales
promotion as a marketing activity is still vaguely defined and organized.”
Sales Promotion and Advertising
There is no universally accepted distribution between these two terms. To same advertising
includes all forms of mass media communication directed towards influencing the end
consumer. Sales promotion on the other hand, includes the form of mass communication
directed towards information and influencing the channel of distribution (e.g., distributors,
retailers etc.). Hence a price of product literature distributed by retailers in sales promotion.
These sales promotion merges on one side in to advertising and on the other in to personal
salesman ship. It is concerned with the dissemination of information to whole sales, retailers,
customers (both actual and potential, and to the salesman).
Sales promotion is concerned with the creation. Application and dissemination of material and
techniques that supplement advertising and personal selling. Sales promotion makes use of
direct mail, catalogues, trade shows, sales contests, premiums, samples, windows displays and
other aids. Its purpose is to increase the desire of salesman, distributors and dealers to sell a
certain brand to make consumers more eager to buy that brand. Personal selling and advertising
19
do include prospects to make these decisions. Sale promotion provides an extra stimulus.
Objective of Sales Promotion
1. To increase sales directly by publicity through media which are complementary to press and
poster advertising.
2. To disseminate information through sales man dealers etc. So as to insure the product getting
in to satisfactory use by the ultimate consumer.
3. To attract new consumer.
4. To face the competition effectively.
5. To help salesman in selling more to the retailers and consumers.
6. To check seasonal decline in sales. Generally speaking, sales promotion involves rendering
the following services: -
(a) Services to dealers.
(b) Services to own salesman.
(c) Special publicity.
Sales Promotional at different levels
1. Sales promotion at Dealers Level :-
It may include various schemes some of which are discussed here.
(i) Advertising Materials: -
The advertising material prepared by the company such as store signs, banners, shelf signs,
board etc. are distributed to sub dealer for display purposes this is in fact a method of
advertising.
20
(ii) Store Demonstration: -
In the promises of the whole seller or the retailer the products sales personnel will conduct
special demonstration for the company’s product. A personal demonstration is good to
introduce a new product at its peculiar advantage can be high lightened and the consumer’s
doubt clear. It can be used to restimulate an old product. A good demonstration with a great
dealer of action will draw heavy crowds in to the store and will attract attention to the product.
(iii) Special Display and Shows: -
These are in seasonal in character but could be arranged in an elaborate manner and for all the
products of a company. Usually these are arranged along with trade fair and exhibition. Besides
effecting sales these shows impress the company’s name generally on the public.
21
Chapter. 5
Competitive position in Industry:(using Porter’s 5 forces)
1. The bargaining power of the customers:
This refers to the ability of customers to force down prices. A good example of this is when
family bulk purchase. As customers gain greater bargaining power, Institutional Chanal
Partners are likely to lower their prices. If the bargaining power is high, suppliers will have
great difficulty hiking prices and can even incur losses. On the other hand, if the bargaining
power is low, suppliers can raise their prices to gain more profits. Real easte that target tour
groups or those that have concentrated buyers or emotional buyers will be more subject to the
bargaining power of customers. On the other hand, individual or walk-in customers have little
to no bargaining power at all since they don’t hold a huge margin.
22
2. The bargaining power of suppliers:
This force doesn’t usually pose too much threat to the Real estate industry as compared to the
bargaining power of the customers but it can still inflict some pressure on the company. The
lower the supplier power, the more attractive the industry and thus an increase in profit
potential. However, the fewer the suppliers to an industry, the more power that supplier has
over them. This can affect input costs and puts a strain on the company that relies on their
product and services. This puts Seles managers in a predicament but in order to stay
competitive, they must find a way to cooperate with suppliers that will give them a cost
advantage.
3. The threat of new entrants:
This force is dependent on the ability of the new business to enter the industry. The Real estate
industry poses many levels of obstacles for a new entry and opening one in an area that is
saturated with the competition will make it difficult to gain an advantage. However, it’s not
unheard of. New businesses can still come into the market and comes as a threat to present
competitors especially when they have an edge at differentiating themselves from others.
4. The threat of substitutes:
Back in the day, substitute threats to the Real estate industry were far and few but with the
continued development of technology, innovative disruptions have proved to be quite the
challenge for hoteliers. With the rise of technology came substitutions like online web site of
properties or homes. The 2019 COVID pandemic has given rise to an even newer substitute
product: Virtual visual. In you can see or buy homes or properties on direct web site. It affect
on many ICP, CP and brokers.
5. The intensity of rivalry between competitors.
Competition is thought determined to be very intense in the Real estate industry. Many
elements come into play to determine the competitiveness of an industry. The greater the
number of competing Real estate in the area along with near-identical products and services
being offered, the weaker the competitive power the company may possess. The entry of new
business in the market gives rise to even more competition and an even greater need to
differentiate.
23
Chapter. 6
PART B: Main Body of the Project Work
Experiential Learning Project(Type-III)
Introduction
Empire Prime are those who stand First for everything and are significant while delivering the
highest of Quality and value. Prime are those who set an example which becomes a benchmark
for others to follow.
India's First and Never-Seen-Before concept and market approach that's going to be the biggest
revolution in the history of Real Estate. For all those businesses trying to become tech-savvy
and adapt to Digitalization every company of the Future is going to be in the business of
Customer Service, And the Future is NOW.
Introducing, the newest and yet the most experienced the youngest and yet backed by a 121+
year old legacyorganization, PRIME VALUE FARTNERS a Premium Business Model in Real
Estate catering to both Developers and the Home Buyers.
We are here to provide End-to-End Solutions while our PRIME focus is to achieve Customer
Delight from both ends. We are your Growth Partners for Life as well as for your Business.
We are here to add Value in your journey of Real Estate. We are YOUR PRIME VALUE
PARTNERS.
Further to our discussion during the meeting, we bring the utmost professionalism and
complete transparency to the table. We specialize in providing customized end-to-end need-
based services
and step-by-step support to our home buyers. Our unconventional never-seen-before approach
forwards our valued customers, home buyers as well as developers, is our USP. Customer
delight stands as our foremost priority in all our activities and deliverables
24
We are hereby sharing our business proposal covering the following topics for your reference:
a) Introduction
b) Our Team
c) Our Specialties and Scope of Work
d) Unique Methodology
e) Operational presence across MMR Proposal
f) Expectations
Observation
The internship was completed with the objective of getting practical knowledge in the
Talent and Field experience (BD department) of EPR.
 To gain practical experience of the jobs carried out in the Talent and Knowledge
(BD Department) of EPR
 To compare the theoretical knowledge of BD with the practical experiences
carried out at the Developer Site
 Clarify personal interests, skills, and competencies, and their implementation
toward the development of career goals
 To gain ideas from the experienced people working for Sales and BD department
 To understand the challenges faced by the Sales & BD Manager department
 Development of personal standards of professional and ethical behaviour
required in the workplace
 Assumption of responsibility for continued learning and professional
development
 To apply the theoretical knowledge to practical work
 Help in organizing company deal and negotiation for corporate
 To Understand hoe customer or clint is important to company
25
Work culture
The employees in the work place were very supportive and cooperative. The office has its own
uniqueness. It was a fun place to work and meet various types of people from many
backgrounds. People enjoy in the employee engagement activities.
26
Chapter.7
To understand the plan and strategies of the organization we need to understand the Strength,
Weakness, Opportunities, Threats (S.W.O.T analysis) of the organization.
STRENGHTS:
 Strong background or support from
parent com. Empire Industries.
 They offered budget-friendly service
to their customer
 They have tremendous network chain
 Accor is best known for their best
loyalty programs.
 They emphasize more on exclusive
cultural events
 Worldwide banner or adv in website.
 Strong brand equity
WEAKNESS:
 EPR does not get much attention to
the service level as Other.
 The company focus more on
enhancing their service and employee
it increases profit level
OPPORTUNITIES:
 Real estate market expected to
develop at yearly pace of 40% in the
following five years
THREATS:
 Immense Competitiveness
 Security Risk
 Policy’s
India's First and Never-Seen-Before concept and market approach that's going to be the biggest
revolution in the history of Real Estate. For all those businesses trying to become tech-savvy
and adapt to Digitalization every company of the Future is going to be in the business of
Customer Service, And the Future is NOW.
27
Brand Sustainability Ensuring continuous quality sales.
Business Reliability Guaranteed results with accelerated growth.
Sales & Marketing Integration innovative Solutions with a strategic approach
Sales Stability Consistent quality sales with zero compromise of guests.
Our Core Specialist
Marketing
1 Lead Generation (Digital & Physical)
2 Process & software set up (End to End journey)
3 Contact Centre
4 Customer Experience
5 Help Desk
Sales
1 Home visit/QM
2 Need based analysis
3 Profiling
4 Presentation
5 Site Visit
CRM
1 Financial Profiling-
2 Bank allocation
3 Sanction
4 Disbursements & Collection
5 Loyalty program
28
Chapter.8
References
https://empireprimerealty.com/
Summer Internship Report
Must include in the format having information about weekly learning at on-the-Job Training
(During Internship) as given below: (Must include learning of all 8 weeks)
Date Week Activity Learning
25/04/2023-
30/04/2023
1st
Training &
Development
Learned about the
Company and real
estate.
01/05/2023-
7/05/2023
2nd
Coordinating with
new employees for
Induction.
Gives brief about
how the work or
how to handle.
8/05/2023-
14/05/2023
3rd
Collet data from
manager
Start calling and
meeting process.
15/05/2023-
21/05/2023
4th
Going for site of
Developer.
I learned how to
work in team. How
to work in
disciplined manner.
22/05/2023-
28/05/2023
5th
and 6th
Handle the
customers.
Time management,
Networking skills.
29/05/2023-0
11/06/2023
7th
and 8th
Negotiating Sending AOP for
higher %
12/06/2023-
25/06/2023
9th
and 10th
Negotiating Sending AOP for
higher %
29
26/06/2023-
30/06/2023
11th
Exit Formalities Adjustment of all
Developers in Full
and Final
Settlement. How to
pitch and convince.
30
Chapter. 9
PART C: Learnings from the summer internship
1) Application of concepts, tools, techniques and skills learnt during MMS-I.
As we all are aware that MBA is one of the most versatile degrees out here. It takes in
students from all areas of expertise and churns out thinking leaders who are capable of
steering businesses towards success. I learnt a good knowledge of Presentation tools is one of
the important technical skills for knowledge for management students. Various things learnt
are:
• Communication
• Interpersonal
• Leadership
• Time Management
• Decision Making
2) Mention new knowledge, tools, techniques or skills that you may have picked up
Teamwork and collaboration
Teamwork is an imperative skill for a Business Development department. As an BD
Intern, you’re expected to work together with others in ORG, as well as with all the heads
within the company.
Though I was an BD intern I worked with other department interns also. If we had to
organize any meeting, I teamed up with colleague to get the work done quickly. From
which I learned how to collaborate with others and work as a team.
Respect everyone
A majorly important life skill you will learn from REAL Estate is respect. Unfortunately,
you might learn it the hard way. As a server, or a manager, you will experience people
who are rude. Sometimes, these people are seemingly rude for sport.
31
If you’ve ever been yelled at for an inaccurate order, a long wait, or other elements out of
your control, you will gather real-life experience of that golden rule.
Working in the Real Estate industry gives you insights into the people you see every day.
Remember — you never know what someone is going through, so give them the benefit of
the doubt. Treat people kindly, with care, and with respect.
Empathetic Listening
Empathetic listening is a communication behavior that conveys to the employee that the BD
professional is genuinely interested in what the employee has to say and is willing to take the
time to hear the conversation.
Communication
Communication skills allow you to understand others, express your thoughts, exchange
information and offer feedback. As a people-focused function that connects businesses and
employees, strong communication skills can be essential for any BD role. This involves
both verbal and written communication in your dealings with prospective employees and
existing colleagues & customer. As an BD professional, verbal communication skill can be
helpful when identify clint, negotiating, build a networking.
Negotiation
Negotiations involve give and take, which means one or both parties will usually need to
make some concessions. Negotiation can take place between buyers and sellers, employers
and prospective employees, two or more governments, and other parties. Also I meeting with
higher-level management (VPs, AVPs, GMs, AGMs, SMs, etc.) to raise awareness about our
company and our unique approach in the retail CP/real estate industry and about AOP. I also
gained insights into what sets us apart from other companies and the distinction between CP
and ICP. Additionally, one of my main tasks was payment collection, where I learned how to
effectively convince developers to clear payments.
Project Co-ordinator Academic Dean
Dr. Rahul Shah. Dr. Rahul Shah.
32

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Shreyas SIP project (1).pdf svims vadala

  • 1. 1 Project report for summer internship (2 months) PROJECT REPORT “A Study OF EMPIRE PRIME REAITY.” Submitted By Shreyas Chavan (13053) Under the Guidance of Prof. Rahul Shah SIR M. VISVESVARAYA INSTITUTE OF MANAGEMENT STUDIES & RESEARCH SEWREE – WADALA ESTATE, WADALA, MUMBAI -400031 ACADEMIC YEAR 2022-2024
  • 2. 2 DECLARATION This is to declare that I, SHREYAS CHAVAN, a student of Sir M. Visvesvaraya Institute of Management Studies (SVIMS) MMS batch 2022-2024, has given original data and information to the best of my knowledge in the project report titled “A Study OF EMPIRE PRIME REAITY.” is a record of independent work carried out by me under the guidance and supervision of the Dr. RAHUL SHAH towards the partial fulfilment of requirement for the M.M.S. degree course under University of Mumbai. I also agree in principle not to share the vital information with any other person outside the organization and that I have not submitted it for any award or any other title, degree or diploma. Date: 21th October 2023 Name: Shreyas Chavan Place: Wadala, Mumbai Specialization: Marketing Batch: MMS Roll No: 13053 Signature of the Student
  • 3. 3 CERTIFICATE This is to certify that the project entitled “A Study OF EMPIRE PRIME REAITY.”, submitted to Sir M. Visvesvarya Institute of Management Studies (SVIMS) Mumbai in the partial fulfilment of the requirements for the award of the degree of Master in Management Studies of University of Mumbai embodies the results of Bonafede project work carried out by SHREYAS CHAVAN under my guidance and supervision. To the best of my knowledge the results embodied in this project have not been submitted to any other university or institute for the award of Degree or Diploma. The assistance and help received during the course of this investigation has been duly acknowledged. Project Guide [ ] Dr. RAHUL SHAH Signature of the Guide Date: 21st October 2023 Place: Wadala, Mumbai
  • 4. 4
  • 5. 5 INDEX Chapters Particulars Pg No. PART – A 1 Introduction 6-7 2 Mission And Vision 8 3 Structure Executive Summary 9-11 4 Object of Study 12-20 5 Porters 5 forces 21-22 PART – B 6  Experiential Learning Project  Observation 23-25 7 SWOT Analysis 26-27 8  Reference  Summer Internship Report 28-29 PART – C 9 Learnings from the Summer Internship 30-31
  • 6. 6 Chapter. 1 PART A: PROFILE OF THE ORGANISATION Introduction EMPIRE PRIME REALTY We are a multi-divisional public limited company engaged in diverse businesses, headquartered in Mumbai, with the legacy of 125 years of a strong customer-focused approach and a continuous quest for world-class quality. We are market leaders in all our businesses, including various leading industrial businesses, the building & leasing of commercial properties, managing business centers. and developing real estate. Over the years. Empire Industries has collaborated with many major national and international organizations across varied sectors. With our mission of To be the best in the marketplace, not necessarily the biggest, our business ventures secure a leadership position across respective industries. The best of minds coming from diverse roles across their career. Empire Prime Realty is constantly developing processes and solutions to improve customer experience, ensuring to fulfil the needs and requirements of a homebuyer with the right project of our empaneled developers. Empire Prime Realty is a bridge that connects our empaneled developers with the actual home- buyers in the market. We ensure a smooth and never-seen-before approach of providing End- to-End Solutions to both the parties. We at Empire Prime Realty are building the first modern and unconventional platform in real estate focusing on every detail of the customer needs as well as the developers, while being conventionally ethical combined with industry’s top talent and technologyto make it intelligent and seamless.
  • 7. 7 Remarkable  For Developers Assuring your growth and sustainability along with reducing on the overall cost and bring consistency in sales, but above all, doing it the ‘right’ way.  For Customers A century old legacy-backed real estate company (since 1900) with one main purpose to deliver exceptional services with no compromise on transparency and ethical practices.  For Employees We believe in never ending Passion for Excellence by providing Transparent opportunities and support leading towards personal growth, while ensuring work-life balance and utmost respect towards our employees.
  • 8. 8 Chapter. 2 Vision and Mission: To be the most trusted, secured and followed organisation for everyone. At any given point in time, our utmost priority will only be Customer Delight while our team will be thinking of innovative solutions as our passion is to strive for excellence.
  • 9. 9 Chapter. 3 Structure: We have begun with 4 branches across MMR with dedicated professional, seasoned experts. 1. MMR ZONE I -Thane Branch (Thane & KDMC) 2. MMR ZONE 2 - Navi Mumbai Branch (Navi Mumbai and part of Raigad) 3. MMR ZONE 3 - Central Branch (Central Mumbai Mulund and Mankhurd to CST) 4. MMR ZONE 4 - Western Branch (Western Mumbai Churchgate to Virar - VVMC) EXECUTIVE SUMMARY The realty industry today has changed so much that each sector needs special skills to make it work efficiently. All over the world, prices are fluctuating. Global agencies monitor trends in the top influential cities. With many foreign investments in India and NRIs returning, the Indian property market watch is on the top most of every big agency. Mumbai is the costliest city to live in Asia. To understand real estate marketing, one should at least have the minimum knowledge required to step into the complex industry. Out there, plenty of smart operators are looking for suckers. They may not be dishonest but will technically confuse you to pay higher price and outsmart you. Therefore, if you know your onions and the deep layers beyond the skins it helps to get the best. The purchasing power of the new generation of Indians has increased. They are investing in real estate in a big way- in terms of investment and assets. People have acquired refined tastes in housing needs and become professional in dealing with builders. Financial companies and banks have given a boost to real estate marketing as well. To add to this the government has allowed foreign investors also to test the market conditions here have helped. Every area of real estate be it industrial, retail space, malls, office complexes, residential colonies, hospitals, clinics and other healthcare units have a vast potential for growth. As more opportunities grow for people to work, they also wish to invest in places close by to live in. Builders or developers in various regions are now separately marketing each space.
  • 10. 10 Even home loan companies and banks are independently marketing the properties they are giving loans. This helps them to guide their dedicated clientele and ensure the marketing trends remain closely monitored for future development. They generally have customer relationship executives who are assigned (usually area wise) to assist customers in making decisions. They do have good knowledge, are professionals on the job and customers do benefit if they are not very familiar with various technicalities. Each company has its own marketing device and portfolio to attract Customers. Various tie ups with groups in India and overseas have taken place this year with increase in FDI. MGF Developments based in New Delhi and Emmar Properties based in Dubai have joined hands in the first quarter of 2006 for investments within the country. Nowadays most of real estate focus is on shopping malls and residential complexes. In some areas down south, the thrust is on IT parks, and corporate offices and resorts. However, on the other side everyone or every other executive does not feel the real estate sector in India is being well marketed or managed. Yes, there are some grey areas, which need to be covered up. For instance, foreigners who wish to invest or firms who are looking at Indian partners are feeling the crunch of bureaucracy and familial ways of working. This obviously makes it difficult for them to do business. The potential is there but it needs to be tapped wisely. A proper way is to have real estate marketing with the right professionals. Everyone wants to cash on the business. After one and a half years of gradual consolidation, real estate in India has fathomed its own comfortable ground, and is poised at the right threshold to take a giant leap in years to come. While a differential pace of strengthening is evident across sectors, geographies and segments, several property market indicators point to the fact that the industry has indeed bottomed out in the current cycle. The fears of a possible double dip recovery have given way to beliefs in the sustained healthy levels, if not a rapid growth. The experience thus gained in this slowdown is invaluable and will serve real estate strategists for years to come. The various stakeholders in the entire supply chain – the material manufacturers, developers, property consultants, occupiers, investors and policy makers, have all emerged stronger and primed than yesteryears. And, if we have taken our lessons right, ‘caution’ and ‘diligence’ would be the keywords for the industry in the medium term.
  • 11. 11 On one hand, the stakeholders can’t afford to sway on the riding waves of healthy demand, and lose the ground advantage that they have so painfully regained by adapting to the rapidly changing business environment. And on the other, the emerging opportunities should be targeted with an unmatched favor of potential and pragmatism. The year 2011 would usher a new decade of opportunities for Indian real estate, which will be a test of sorts for its stakeholders between these two fringes of the fulcrum. And the winners would be the ones who balance caution with diligence evaluating all the potential opportunities with pragmatism. Commercial Real Estate o Office rents to start appreciating after mid-2011 o More outright purchases by occupiers as well as private equity players o IT/ITES and BFSI would continue to account for 60-70% of office demand Residential Real Estate o Launch of premium products to continue, albeit at a slower pace o Launch of Ultra Low Cost (ULC) Housing by private developers – ‘Housing for All’ o Large number of launches would continue to be in the range of INR 2,000-3,000 per sq. ft at the leapfrogged suburban locations o Impact on affordability will influence the price and absorption dynamics o Sustainability to gain focus as the industry looks forward towards IGBC Green Homes standards Retail Real Estate o More collaborative models such as revenue sharing to emerge in the sector o Rents to remain stable except select prime locations o Large number of malls slated to become operational o Retailers would continue to expand beyond Tier I into Tier II and III cities o More international retailers to venture into India
  • 12. 12 Chapter. 4 OBJECT OF STUDY 1. Properties Area wise – Separate sections of residential and commercial nature 2. Property Valuation 3. Help in buying or selling property 4. Home Loans 5. Property Managers/ Property Brokers/ Property Agents etc. 6. Property Consultants and Designers 7. Sales Promotion 8. Sales Promotion and Advertising LITERATURE REVIEW The real estate market in India has become so huge that to get every thing or anything specific within one roof is easy and difficult at the same time. With the kind of commercial and residential property available –on rent/lease/ ownership one has to refer to portals or good companies dealing in various listings. Generally typical real estate listing would necessarily include the following heads: Properties Area wise - Separate sections of residential and commercial nature: Within this are included partnership, brokerage, requiring agents, and direct deals with builders. The property rates of each area are usually determined every two three years unless in a particular area shoots up due to construction or upcoming prestigious piece of property (i.e., a five-star hotel, IT corporate park, shopping mall or multiplex). In such areas the rents and buying properties do increase because of job opportunities and close residential facilities.
  • 13. 13 Property Valuation: Many old properties may not be in very good condition. But they still are valuable. Why? Mostly because they can be refurbished or rebuilt entirely. This is why they usually fetch a good price. But one cannot depend only on brokers or agents or property owners to evaluate the land. Sometimes the owner is greedy and expects a bigger price, sometimes an agent in between quotes a higher price so that it benefits him, sometimes the buyer may be just rich and may not have rival bidders or competitors so quotes a fancy pricey according to his choice. But now the industry has attained a level of professionalism and valuers who have correct knowledge and are impartial are used to assess the property. Even if it has to be handed over from one brother to another the valuer needs to correctly assess the worth of the property. Usually, a lawyer does the valuation so that a stamp of legality can be given to the property and no disputes rise thereafter. A known property valuer will charge a good amount to the job. Property Managers/ Property Brokers/ Property Agents etc: Dealing with one person who knows the entire property inside out is important. Usually when an agent shows the property to a prospective client, he knows the property manager dealing with it. He normally deals on behalf of the owner. He looks after the property and keeps in good shape till it is sold to the next owner. Brokers and agents now all over India have associations. So certified ones and those registered with the respective associations will definitely not cheat you when you are buying property. Even if there are disputes it can be challenged or sorted out through the right channels. Real estate listings usually give area wise contacts of brokers and agents listed with them. So even if one does not know one a portal provides the details. Property Consultants and Designers: Now consultants are available for giving a better view of the industry in general. They are aware of the rules, laws and regulations, which affect builders and buyers both. Each consultant specializes in various kinds of property.
  • 14. 14 For example, property consultant dealing with industrial properties knows what environmental laws and rules about violating them. He can help the owners to be on the right side of the law. Some consultants deal exclusively in townships, residential areas and are aware of the rules that govern them. A good consultant will always be an asset for the builder he works for. Designers are usually required by architects or by individuals who need homes to be designed. Some firms employ designers, some of them free-lance or some do just renovation work. Depending on the need they are listed too. They also deal with people with knowledge of Vastu and Feng Shui-both applications are in vogue with clients. Help in buying or selling property: Sometimes an individual may want to sell his business and home and relocate to another place. Real estate listings allow the person to choose various methods of disposal for the same. Home Loans: Sometimes one falls short of a required amount or needs nearly 75% of the loan to buy a house or an office premise. Generally, people apply for home loans. There are many financial institutions, banks, private persons, and organizations, which lend money to fulfil dreams. It is easy to obtain a loan if all paperwork is complete. Today in India private bank HDFC and ICICI Bank and State Bank of India are the largest lenders to their customers all over the country. They are also giving loans to NRIs to invest in property in India. Affordable Method: Many companies set the promotion budget at what they think the company can afford. One executive explained this method as follows: "Why, it’s simple. First, I go upstairs to the controller and how much they can afford to give us this year. He says a million and half. Later, the boss comes to me and asks how much we should spend and I say ‘Oh about a million and half." It is a method which is uncertain one and makes long-term planning difficult.
  • 15. 15 Percentage of Sales Method: Many companies set their promotion expenditures at a specified percentage of sales. Accordingly, the sales are set on the basis of sales. In this specified sales percentage is decided for the promotional budget Advantages of this method: First, its use means that promotional budget varies with what a company can afford. Second, it encourages the management to think in terms of the relationship among promotion costs, selling price, and profit per unit, Third, it encourages the competitive stability to the extent that competing firms spend approximately the same % of their sales on promotion. Inspite of the advantages, the % sales method has little to justify it. Its reasoning is circular: It views sales as the determiner of the promotion rather than as a result. It leads to budget setting by availability of funds rather than by marketing opportunities. Competitive Parity Method: Some companies set their promotional budget to achieve share-of-voice parity with other competitors. Two arguments are made in support of competitive parity method. One is that the competitor’s expenditure represents the collective wisdom of the industry. The other is that maintaining a competitive parity helps prevent promotional wars. Neither argument is valid. There are no grounds for believing that competition knows better what should be spent on promotion.
  • 16. 16 Objective and Task Method The objective & task method calls upon marketers to develop their promotion budgets by defining their specific objectives, determining the task that must be performed to achieve these objectives, and estimating the cost of performing these tasks. Deciding on the promotion mix: Companies face the task of distributing the total promotion budget over the five promotional tools: • Advertising • Sales Promotion • Public Relations and Publicity • Sales Force • Direct Marketing. Whatever method a company adopts for promoting its product it must be from above mentioned method. Sales Promotion Promotion is the final element in the marketing mix. After the nature of product is decided, its price fixed and the methods of distribution decided, the manufactures have to take effective steps in meeting the consumers in the markets. In the present consumer-oriented markets, it is the duty of manufacturers to know what is required by the consumer. It is also their duty to make the customers know where, when how and at what prices. The products would be available.
  • 17. 17 Meaning of Promotion The term promotion is the term and includes mainly three types of sales activity: 1. Mass impersonal selling methods (Advertising) 2. Face to face personal selling (Salesman ship) 3. Activities other than personal selling and advertising such as point of purchase display (P.O.P.) show and exhibitions, demonstrations and other non-securing selling efforts. This form of activity is called ‘Sales Promotion’. There are two types of promotion blends: - 1. Pull Blend 2. Push Blend Both of these are closely related to the channel of Distribution. 1. A pull blend is one in which mass impersonal, sales efforts are given the greatest emphasis. The purposes of pull blend to pre-sell to the final consumers. So that they demand the product at the retail level of distribution. The firm adopting this strategy would spend more on advertising and sales promotion rather than in personal selling. These efforts pull down the product from the manufacturer. 2. A push blend emphasizes personal selling. Naturally firms adopting this method develop a strong sales force at both the distributor and the dealer level. This method would tends to push the product through the channel of distribution. Promotion and Selling The term promotion is very often used as a synonym for selling. But selling is a narrow term which includes only transfer of title or personal selling. Promotion on the other hand is broader in its outlook and includes a variety of activities used ultimately for increasing sales volume. Promotion and Sales Promotion
  • 18. 18 Similarly, the terms sales promotion cannot be taken to mean what is commonly does. Sales promotion, is only a part of the promotion. Basically, promotion is an "exercise" in information persecution and influence. Promotion has come to mean the overall co-ordination of advertising selling, publicity and public relations. Promotion is a helping function designed to make all other marketing activities more effective and efficient. But sales promotion as such helps only the selling activity still, there exit same difference of opinion on the real connection of the term sales promotion. Acc. to A.H.R. Delons :- “Sales promotion means any step that are taken for the purpose of obtaining or increasing sales.” Acc. to W.Q. Kelly Opines :- “Muddled misused misunderstood that is sales promotion Acc. to him the field of sales promotion as a marketing activity is still vaguely defined and organized.” Sales Promotion and Advertising There is no universally accepted distribution between these two terms. To same advertising includes all forms of mass media communication directed towards influencing the end consumer. Sales promotion on the other hand, includes the form of mass communication directed towards information and influencing the channel of distribution (e.g., distributors, retailers etc.). Hence a price of product literature distributed by retailers in sales promotion. These sales promotion merges on one side in to advertising and on the other in to personal salesman ship. It is concerned with the dissemination of information to whole sales, retailers, customers (both actual and potential, and to the salesman). Sales promotion is concerned with the creation. Application and dissemination of material and techniques that supplement advertising and personal selling. Sales promotion makes use of direct mail, catalogues, trade shows, sales contests, premiums, samples, windows displays and other aids. Its purpose is to increase the desire of salesman, distributors and dealers to sell a certain brand to make consumers more eager to buy that brand. Personal selling and advertising
  • 19. 19 do include prospects to make these decisions. Sale promotion provides an extra stimulus. Objective of Sales Promotion 1. To increase sales directly by publicity through media which are complementary to press and poster advertising. 2. To disseminate information through sales man dealers etc. So as to insure the product getting in to satisfactory use by the ultimate consumer. 3. To attract new consumer. 4. To face the competition effectively. 5. To help salesman in selling more to the retailers and consumers. 6. To check seasonal decline in sales. Generally speaking, sales promotion involves rendering the following services: - (a) Services to dealers. (b) Services to own salesman. (c) Special publicity. Sales Promotional at different levels 1. Sales promotion at Dealers Level :- It may include various schemes some of which are discussed here. (i) Advertising Materials: - The advertising material prepared by the company such as store signs, banners, shelf signs, board etc. are distributed to sub dealer for display purposes this is in fact a method of advertising.
  • 20. 20 (ii) Store Demonstration: - In the promises of the whole seller or the retailer the products sales personnel will conduct special demonstration for the company’s product. A personal demonstration is good to introduce a new product at its peculiar advantage can be high lightened and the consumer’s doubt clear. It can be used to restimulate an old product. A good demonstration with a great dealer of action will draw heavy crowds in to the store and will attract attention to the product. (iii) Special Display and Shows: - These are in seasonal in character but could be arranged in an elaborate manner and for all the products of a company. Usually these are arranged along with trade fair and exhibition. Besides effecting sales these shows impress the company’s name generally on the public.
  • 21. 21 Chapter. 5 Competitive position in Industry:(using Porter’s 5 forces) 1. The bargaining power of the customers: This refers to the ability of customers to force down prices. A good example of this is when family bulk purchase. As customers gain greater bargaining power, Institutional Chanal Partners are likely to lower their prices. If the bargaining power is high, suppliers will have great difficulty hiking prices and can even incur losses. On the other hand, if the bargaining power is low, suppliers can raise their prices to gain more profits. Real easte that target tour groups or those that have concentrated buyers or emotional buyers will be more subject to the bargaining power of customers. On the other hand, individual or walk-in customers have little to no bargaining power at all since they don’t hold a huge margin.
  • 22. 22 2. The bargaining power of suppliers: This force doesn’t usually pose too much threat to the Real estate industry as compared to the bargaining power of the customers but it can still inflict some pressure on the company. The lower the supplier power, the more attractive the industry and thus an increase in profit potential. However, the fewer the suppliers to an industry, the more power that supplier has over them. This can affect input costs and puts a strain on the company that relies on their product and services. This puts Seles managers in a predicament but in order to stay competitive, they must find a way to cooperate with suppliers that will give them a cost advantage. 3. The threat of new entrants: This force is dependent on the ability of the new business to enter the industry. The Real estate industry poses many levels of obstacles for a new entry and opening one in an area that is saturated with the competition will make it difficult to gain an advantage. However, it’s not unheard of. New businesses can still come into the market and comes as a threat to present competitors especially when they have an edge at differentiating themselves from others. 4. The threat of substitutes: Back in the day, substitute threats to the Real estate industry were far and few but with the continued development of technology, innovative disruptions have proved to be quite the challenge for hoteliers. With the rise of technology came substitutions like online web site of properties or homes. The 2019 COVID pandemic has given rise to an even newer substitute product: Virtual visual. In you can see or buy homes or properties on direct web site. It affect on many ICP, CP and brokers. 5. The intensity of rivalry between competitors. Competition is thought determined to be very intense in the Real estate industry. Many elements come into play to determine the competitiveness of an industry. The greater the number of competing Real estate in the area along with near-identical products and services being offered, the weaker the competitive power the company may possess. The entry of new business in the market gives rise to even more competition and an even greater need to differentiate.
  • 23. 23 Chapter. 6 PART B: Main Body of the Project Work Experiential Learning Project(Type-III) Introduction Empire Prime are those who stand First for everything and are significant while delivering the highest of Quality and value. Prime are those who set an example which becomes a benchmark for others to follow. India's First and Never-Seen-Before concept and market approach that's going to be the biggest revolution in the history of Real Estate. For all those businesses trying to become tech-savvy and adapt to Digitalization every company of the Future is going to be in the business of Customer Service, And the Future is NOW. Introducing, the newest and yet the most experienced the youngest and yet backed by a 121+ year old legacyorganization, PRIME VALUE FARTNERS a Premium Business Model in Real Estate catering to both Developers and the Home Buyers. We are here to provide End-to-End Solutions while our PRIME focus is to achieve Customer Delight from both ends. We are your Growth Partners for Life as well as for your Business. We are here to add Value in your journey of Real Estate. We are YOUR PRIME VALUE PARTNERS. Further to our discussion during the meeting, we bring the utmost professionalism and complete transparency to the table. We specialize in providing customized end-to-end need- based services and step-by-step support to our home buyers. Our unconventional never-seen-before approach forwards our valued customers, home buyers as well as developers, is our USP. Customer delight stands as our foremost priority in all our activities and deliverables
  • 24. 24 We are hereby sharing our business proposal covering the following topics for your reference: a) Introduction b) Our Team c) Our Specialties and Scope of Work d) Unique Methodology e) Operational presence across MMR Proposal f) Expectations Observation The internship was completed with the objective of getting practical knowledge in the Talent and Field experience (BD department) of EPR.  To gain practical experience of the jobs carried out in the Talent and Knowledge (BD Department) of EPR  To compare the theoretical knowledge of BD with the practical experiences carried out at the Developer Site  Clarify personal interests, skills, and competencies, and their implementation toward the development of career goals  To gain ideas from the experienced people working for Sales and BD department  To understand the challenges faced by the Sales & BD Manager department  Development of personal standards of professional and ethical behaviour required in the workplace  Assumption of responsibility for continued learning and professional development  To apply the theoretical knowledge to practical work  Help in organizing company deal and negotiation for corporate  To Understand hoe customer or clint is important to company
  • 25. 25 Work culture The employees in the work place were very supportive and cooperative. The office has its own uniqueness. It was a fun place to work and meet various types of people from many backgrounds. People enjoy in the employee engagement activities.
  • 26. 26 Chapter.7 To understand the plan and strategies of the organization we need to understand the Strength, Weakness, Opportunities, Threats (S.W.O.T analysis) of the organization. STRENGHTS:  Strong background or support from parent com. Empire Industries.  They offered budget-friendly service to their customer  They have tremendous network chain  Accor is best known for their best loyalty programs.  They emphasize more on exclusive cultural events  Worldwide banner or adv in website.  Strong brand equity WEAKNESS:  EPR does not get much attention to the service level as Other.  The company focus more on enhancing their service and employee it increases profit level OPPORTUNITIES:  Real estate market expected to develop at yearly pace of 40% in the following five years THREATS:  Immense Competitiveness  Security Risk  Policy’s India's First and Never-Seen-Before concept and market approach that's going to be the biggest revolution in the history of Real Estate. For all those businesses trying to become tech-savvy and adapt to Digitalization every company of the Future is going to be in the business of Customer Service, And the Future is NOW.
  • 27. 27 Brand Sustainability Ensuring continuous quality sales. Business Reliability Guaranteed results with accelerated growth. Sales & Marketing Integration innovative Solutions with a strategic approach Sales Stability Consistent quality sales with zero compromise of guests. Our Core Specialist Marketing 1 Lead Generation (Digital & Physical) 2 Process & software set up (End to End journey) 3 Contact Centre 4 Customer Experience 5 Help Desk Sales 1 Home visit/QM 2 Need based analysis 3 Profiling 4 Presentation 5 Site Visit CRM 1 Financial Profiling- 2 Bank allocation 3 Sanction 4 Disbursements & Collection 5 Loyalty program
  • 28. 28 Chapter.8 References https://empireprimerealty.com/ Summer Internship Report Must include in the format having information about weekly learning at on-the-Job Training (During Internship) as given below: (Must include learning of all 8 weeks) Date Week Activity Learning 25/04/2023- 30/04/2023 1st Training & Development Learned about the Company and real estate. 01/05/2023- 7/05/2023 2nd Coordinating with new employees for Induction. Gives brief about how the work or how to handle. 8/05/2023- 14/05/2023 3rd Collet data from manager Start calling and meeting process. 15/05/2023- 21/05/2023 4th Going for site of Developer. I learned how to work in team. How to work in disciplined manner. 22/05/2023- 28/05/2023 5th and 6th Handle the customers. Time management, Networking skills. 29/05/2023-0 11/06/2023 7th and 8th Negotiating Sending AOP for higher % 12/06/2023- 25/06/2023 9th and 10th Negotiating Sending AOP for higher %
  • 29. 29 26/06/2023- 30/06/2023 11th Exit Formalities Adjustment of all Developers in Full and Final Settlement. How to pitch and convince.
  • 30. 30 Chapter. 9 PART C: Learnings from the summer internship 1) Application of concepts, tools, techniques and skills learnt during MMS-I. As we all are aware that MBA is one of the most versatile degrees out here. It takes in students from all areas of expertise and churns out thinking leaders who are capable of steering businesses towards success. I learnt a good knowledge of Presentation tools is one of the important technical skills for knowledge for management students. Various things learnt are: • Communication • Interpersonal • Leadership • Time Management • Decision Making 2) Mention new knowledge, tools, techniques or skills that you may have picked up Teamwork and collaboration Teamwork is an imperative skill for a Business Development department. As an BD Intern, you’re expected to work together with others in ORG, as well as with all the heads within the company. Though I was an BD intern I worked with other department interns also. If we had to organize any meeting, I teamed up with colleague to get the work done quickly. From which I learned how to collaborate with others and work as a team. Respect everyone A majorly important life skill you will learn from REAL Estate is respect. Unfortunately, you might learn it the hard way. As a server, or a manager, you will experience people who are rude. Sometimes, these people are seemingly rude for sport.
  • 31. 31 If you’ve ever been yelled at for an inaccurate order, a long wait, or other elements out of your control, you will gather real-life experience of that golden rule. Working in the Real Estate industry gives you insights into the people you see every day. Remember — you never know what someone is going through, so give them the benefit of the doubt. Treat people kindly, with care, and with respect. Empathetic Listening Empathetic listening is a communication behavior that conveys to the employee that the BD professional is genuinely interested in what the employee has to say and is willing to take the time to hear the conversation. Communication Communication skills allow you to understand others, express your thoughts, exchange information and offer feedback. As a people-focused function that connects businesses and employees, strong communication skills can be essential for any BD role. This involves both verbal and written communication in your dealings with prospective employees and existing colleagues & customer. As an BD professional, verbal communication skill can be helpful when identify clint, negotiating, build a networking. Negotiation Negotiations involve give and take, which means one or both parties will usually need to make some concessions. Negotiation can take place between buyers and sellers, employers and prospective employees, two or more governments, and other parties. Also I meeting with higher-level management (VPs, AVPs, GMs, AGMs, SMs, etc.) to raise awareness about our company and our unique approach in the retail CP/real estate industry and about AOP. I also gained insights into what sets us apart from other companies and the distinction between CP and ICP. Additionally, one of my main tasks was payment collection, where I learned how to effectively convince developers to clear payments. Project Co-ordinator Academic Dean Dr. Rahul Shah. Dr. Rahul Shah.
  • 32. 32