Real estate developer Navin’s planning to expand business
Real estate developer Navin’s is considering the franchising model to expand its operations outside Chennai. It has completed 100 projects across the city, and is drawing up the strategy to build properties in Coimbatore, Trichy, Bangalore, and Visakhapatnam in the next three years.
The franchising model is still at the concept stage. But that may be the way going forward, because it answers the question ‘do we have enough people for the expansion R Kumar, Managing Director, Navin Housing, said.
The company aims to rope in small contractors and builders as franchisees, who will payto share its brand value. The plan and designing will be left to the builders. Navin’s role will be to guide and ensure the projects are completed on time, and without deviation. The company plans to scale up its built infrastructure from 2.5 million sq ft to 6 million sq ft as part of the expansion.
The developer is aiming at so in order to expand its business and see what they can deliver in the other cities in the country.
Source: The Hindu Business Line
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