Continuing the formidable legacy and global vision of the company’s founder, Amrik Singh Bhandari, is his grandson, Angad Singh Bedi who holds the multi-dimensional responsibility of being Managing Director of the BCD Group.
With in-depth knowledge about the Group and an unparalleled understanding of the global real estate sector, Angad Singh Bedi started his career as an MBA-qualified Chartered Accountant in reputed consulting firms like KPMG & Price Waterhouse Coopers, where he excelled in cross border mergers and acquisition, taxation nuances, restructuring & more.
With an in-bred passion for realty and a single-minded focus of achieving pioneering feats in real estate, Bedi made a conscious decision to enter the family business quite early in life. Bedi has taken the 70-year-old construction company into the 21st century, and has transformed it into a multi- faceted realty conglomerate. He has successfully diversified BCD Group into a global player with marquee real estate projects in luxury, as well as middle to lower income housing.
Over the years, Bedi has taken the Group’s footprints to over 60 million sqft., across India & the world. In addition, he has taken concrete steps to establish a Rs 1500 cr real estate fund especially for economically stressed projects, along with Nissus.
Realty & More caught up with Angad Singh Bedi for aa exclusive chat. Following are the excerpts of the conversation:
Q. Can you tell us BCD Group’s journey so far?
A. Our journey started over 70 years ago, which has given us an amazing foundation to begin with. Our legacy has given us the chance to grow right alongside New India and pave the way for a smarter, future-ready realty landscape that caters to the ever evolving needs of the community.
Over the decades, BCD Group has transformed from being Indian’s oldest and most-trusted construction & design names, to one of the country’s largest & fastest growing global realty conglomerates – with over 100 million square feet of development across India & key global markets.
Given our decades of experience in developing state-of-the-art infrastructure like Steel Plants, Hotels, Power Plants, Cement Plants, Runways, Oil Refineries, Airports and Stadiums, today, we hold a commanding position in the real estate industry and are best known to deliver economically sound & efficiently design projects of all types and magnitudes.
We are among the preferred partners for Fortune 500 companies across industries, and have an unparalleled reputation for developing world-class group housings, commercial complexes, malls, hotels, hospitals as well as infrastructure, across the country.
Driven by the beliefs of our founding values, we always build with purpose, attribute to our growth to our people and our principles of integrity and innovation. We have India’s largest labor force, with 4000 workers on- ground, whom we believe deserve only the healthiest and safest work sites catering to international standards of safety compliances.
Q. What are the notable projects have you done recently and where?
A. BCD Group operates across the spectrum in the real estate industry, and has expertise in three major segments of commercial, residential and retail. In the recent past, we have delivered on a commercial and residential project spread across 3 million square feet in Bangalore.
We believe in building with purpose and catering to the dynamic needs of the communities and corporations across the value chain.
In fact, we are at the helm of launching a 55 acre, smart and affordable township in Bengaluru, located in the biggest special economic zones in the country. The 900 smart sized residences come with unique 1 BHK and 2 RK specifications, that have been designed to provide greater value & an enhanced lifestyle to the diverse needs of Bengaluru’s communities, at the most affordable price point in the neighborhood.
The project is especially close to our hearts, as it features three decided towers that have been especially designed for the elderly, with a larger aim to make the lives of our elders safe, happy, healthy and hassle-free in every aspect. From fully-furnished plug &play home units, daily housekeeping services and unparalleled on-site medical care, we have taken into account all the unique lifestyle needs of those who deserve it the most-our seniors.
We have simultaneously launched India’s second largest stress asset fund worth Rs 8,000 Cr, to provide a much-needed post pandemic lifeline to pending projects, in order to create shared value in the realty ecosystem.
Q.What made you transition from a construction company to a customer facing brand?
A. When we entered the real estate industry in the 1950’s, we made our mark by in Construction by bringing to life some of the most complex, challenging and large scale Infrastructural projects in the country and abroad. We were one of the first to foray into high-quality commercial, residential, retail and hospitality projects, by introducing international-best practices, latest technological innovations, cutting edge engineering and the timeliest deliveries, all with the backing of an infallible workforce.
Today, we have greatly diversified and offer 360-degree real estate solutions including construction, development, consultancy, bespoke services, and most recently, funding.
We cater to a global audience and have footprints across 7 countries and counting. We aim to build on the strong values of our company and continue to create sustainable and superior value for the brave new world of today.
Q. What are the challenges that you are facing currently?
A. India’s real estate industry has emerged as one of the strongest pillars of the Indian economy, having survived the 2008 Global Financial Crisis, demonetization and most recently, the COVID-19 pandemic.
Nevertheless, the industry had taken a hit every time and the domino effect of this has led to a liquidity crunch for segments like the residential sector, which forms the foundation of the real estate industry.
According to estimates by Anarock Consultants, the total value of stressed loans to the real estate sector currently stands at roughly 2.5 trillion dollars, only marginally lower than the quantum of such debt at the end of 2019. The residential real estate segment has the highest number of paused projects, blocking capital flow of $60-70 billion dollars as reluctance of NBFCs. This liquidity challenge further added to projects getting stalled.
This opens up a huge window of opportunity for Alternative Investment Funds (AIFs) which can offer a new lease of life to stalled projects, thereby unblocking the capital and generating attractive returns.
As one of the only zero- debt realty firms in the country, we are committed to creating value for investors and customers by launching our special stressed asset fund with an outlay of Rs 8,000 crore, in partnership with Nisus. We believe that growth should be equitable and we seek to help developers with a crucial line of funding to help close their projects.
Q. Any festive offerings that you are planning?
A. The upcoming festive season offers a unique opportunity to further revive post-pandemic customer sentiments.
We are delighted to inform you that we are offering fully-fitted out senior living homes with dedicated nature-rich areas, meaningful facilities, and strong on-site medical services. We have partnered with Manipal Hospitals and Portea to cover all home healthcare & emergency needs of the residents.
The project is extremely affordable, and has the most flexible pricing in the segment. It is available for purchase as well and renting – with plug-and-play units, and free exclusive on-demand concierge services for 2 whole years. We hope that this festive season, this project lights the lives of many elderly citizens who struggle with finding a safe, seamless and rewarding living experience in the Bengaluru city.
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