BCD Group founded 70 years ago is one of the oldest and successful companies that caters to different segments of real estate and the development of multiple state-of-the-art infrastructures. Here in this interview, meet the dynamic young MD of BCD Group, Angad Singh Bedi, a bright leader who is now leading the legacy and is carving a path of his own.
BCD Group has been a part of various ventures from hotels, and housing to commercial complexes. How has the company managed to make them successful?
Our core strengths are experience, competence, quality, timeliness, innovation & sustainability which have seen us through tough and good times alike and have helped us gain the trust of nations and individuals alike. These are the pillars of our success which have upheld us for all our construction projects- big or small.
Being one of the oldest in the real estate industry, how has the BCD group evolved over the years?
Our journey started over 70 years ago, giving us an outstanding 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 India’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 timely deliver economically sound & efficiently designed 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.
How would you describe yourself as a leader?
As a leader you don’t just lead but also learn every step of the way. Ever since I took the reins of this organisation, I’ve learnt something new every day from people who work with us. Not just leading from the front but also taking a step back and assessing where we’re headed is essential. I also believe that leading by facilitating communication is an effective way, one I practice regularly.
The pandemic has affected the industry. How did it impact your group and how did you overcome it?
The pandemic was a dark time for all of us but especially so for the realty sector. From the workforce migrating to the restrictions implemented by the Central and State Government, it took a lot of navigating for us. However, because of our solid foundation we made sure that every single worker was looked after physically as well as mentally. The sheer insecurity that took over everyone is hard to describe in words. BCD Group encouraged no salary cuts, all workers along with their respective families were fed and vaccinated at the company’s cost. After all that’s what an ethical company is all about.
Can you tell us about your upcoming new projects?
BCD Group operates across the spectrum of the real estate industry and has expertise in three major segments- commercial, residential and retail. 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 neighbourhood. The project is especially close to our hearts, as it features three decided towers that have been specially designed for the elderly, with a larger aim to make the lives of our seniors 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. BCD as a group is executing many key & marquee projects in the country. From the Indian Oil refinery to the construction of the Oppo factory, ATL factory & Delta Electronics (a Fortune 500 company from Taiwan); our group is also executing projects for the Times Group, along with the development of townships and turnkey projects for all Grade A developers. We have simultaneously launched India’s second largest stress asset fund worth Rs 8,000 crore, to provide a much-needed post-pandemic lifeline to pending projects, in order to create shared value in the realty ecosystem.
Has the festive season benefited the company this year?
Traditionally, this is the period when developers make the highest number of sales. This is also the time when they offer the most lucrative discount offers to attract buyers. Just like every year, this festive season India’s housing market was hot with a large variety of festive offers in which developers are offering complete stamp duty waivers, GST waiver, easy payment options, gold coins, etc., as part of the deal. Despite the headwinds (the RBI has hiked benchmark lending rate by a cumulative 190 basis points; property rates have also risen across mega cities of the country, various industry and official reports show), India’s residential real estate performed remarkably well in the festive season. With interest cost on home loans being stable, the domestic markets have rushed in on the closures. Also with the rupee depreciation, the NRI markets have flocked the market this festive season.
Are you planning on expanding across different cities in India and internationally?
BCD has always been a company with a worldwide vision. With a presence across seven countries, we have consistently been building the global landscape. We are expanding our footprint across the UAE. In India, apart from being a turnkey contractor and leading industrial developer, we are developing 3 million sq ft of our own projects, which will be coming across south India in 2023, translating into close to 3,500 homes. These homes are being planned and built by international designers from Saudi Arabia and Dubai (UAE), who are working with the detailing of the technology, planning of spaces, and other required details as per international standards. These are going to be breakthrough products because middle-income projects with MR-level quality will be delivered to the end users. We are also planning to enter tier 2 and 3 cities in the next two years. Ultra-luxury housing for HNIs is also underway and by 2025 we plan to reach 15 million sq. ft in commercial and residential spaces with a few key developers across India.
What are the current trends you are observing in the real estate sector?
The real estate sector is reflecting trends like never before. Post pandemic people have realised the importance of an all-encompassing home. Different demographics are taking to different trends. While the younger generation is looking for casual luxury the older lot is looking at a space where they can live and retire comfortably. People are receptive to spending on pieces that can be the focal point of their house. This does not include only art but artefacts of different nature.
Can you state the things that this industry needs to change about itself?
The realty industry has always been talked about and not always for the right reasons. That’s why RERA has been a much welcome respite for people who value transparency and work with solid ethical values. We have the ability to match global standards of design elements and finishings. That’s the one thing we all should strive for. Also, timely deliveries should be a practice without the fear of being reprimanded by an authority.
What are some of the core values you wish to carry forward in the company?
At the BCD Group, we are deeply committed to building a better, smarter and more sustainable world, one project at a time. Driven by the beliefs of our founding values, we always build with purpose and attribute our growth to our people and our principles of integrity and innovation. We are also actively catering to the dynamic needs of the communities and corporations across the value chain. BCD also has India’s largest labour force, with 4000 workers on ground, whom we believe deserve only the healthiest and safest work sites catering to international standards of safety compliance. The well-being of our employees is placed on priority. We conduct free health check-ups and during the pandemic, we organised vaccination drives for our employees and their families.We believe that by adding value and quality to people’s lives we want to consciously create a social impact and be responsible both as developers and employers.
Can you share some of the business takeaways you got from your predecessors of the BCD Group?
I can’t emphasise enough on the values both personal and professional passed on by those before me, who were at the realm of BCD. Uprightness, integrity, giving back to both the society and the world at large have been the focal points of our organisation. Sustainable living has been very big on our agenda and we’re right on the path. We have always encouraged relationships and communication which I truly believe can solve any and every problem. The BCD Group was started with a single viewpoint of adding value to any residential or commercial asset that we would work with and I can proudly say that those values are not forgotten. We’re trying to make this world a better place, one building at a time.