Sheth Group's orange dot mystery reveals a fresh rebrand

In the weeks leading up to July, Mumbaikars were nonplussed to see a large orange orb dominate several hoardings and appear as floating art installations on several arterial roads. The mystery was cleared a few days later when it was revealed that this was part of Ashwin Sheth Group’s rebranding exercise.

The real estate company teamed up with brand consultancy firm Chlorophyll to shake things up. In a playful partnership, the latter cooked up a fresh logo featuring the letters 'A' and 'S', symbolising the Ashwin Sheth Group's mission to create spaces that mirror the unique worlds of its clients. With its new tagline ‘Our world reflects your world’, the endeavour was undertaken to showcase what customers truly want and need.

Interestingly, Ashwin Sheth Group decided it was time for a makeover after 38 years in the real estate sector. The reason? The company’s officials claimed it was to keep pace with its evolving vision and stand out in a crowded market. This fresh new look wasn't just a spur-of-the-moment decision—it was the result of diving deep into customer feedback, chatting up stakeholders, analysing the latest trends, and sizing up the competition.

Talking to Campaign, Bhavik Bhandari, chief sales and marketing officer at Ashwin Sheth Group, revealed, “This approach revealed that our strength lies in solving real problems through contextual understanding. The new brand identity, captured by the slogan ‘Aapki gehri samajh’ (your deep understanding), aims to resonate deeply with our diverse customer base.”

He added that the refreshed logo and corporate tagline symbolise the company’s commitment to creating spaces that mirror the inimitable needs and aspirations of its customers. Moreover, this rebranding will help it differentiate itself as it grows its business portfolio in the Mumbai metropolitan region and penetrate new markets like Bangalore, Delhi (NCR), Hyderabad, Chennai, and Goa.

A new avatar

Emboldened by its renewed incarnation, Ashwin Sheth aims to achieve a sales revenue of INR 3,000 crore in FY24-25, up from its sales revenue of INR 1486 crore in the FY23-24, marking a threefold increase compared to FY22-23. It will do this through a comprehensive strategy that includes strategic expansion, innovative project offerings, and enhanced customer engagement.

Over the next three to five years, it plans to invest INR 2,500 crore to INR 3,500 crore in land acquisition, focusing on prime locations with high growth potential. To drive demand and support its revenue goals, it will maintain its emphasis on luxury living coupled with a customer-centric approach. Moreover, its international projects, alongside a robust domestic portfolio, will ensure a diversified revenue stream, positioning it for continued exponential growth.

The company is also gearing up for an initial public offering (IPO). When asked whether its rebranding was triggered by the impending public listing, Ashwin Sheth, the eponymous chairman and managing director, Ashwin Sheth Group, told Campaign, “While exploring the option of going public is part of our long-term strategy, the rebrand reflects a broader commitment to evolving with our customers' aspirations. Our new identity signifies our dedication to creating spaces that mirror the dreams and values of modern homeowners. This rebrand is a strategic move to reinforce our market position, enhance brand recognition, and align our corporate identity with our vision of innovation, excellence, and customer satisfaction, irrespective of our IPO plans.”

The real estate sector's talent scramble is driving up paychecks, with a 16% hiring spike and a 9% boost from March to April 2024, according to a report by recruitment platform Foundit. Firms are now racing to offer eye-popping salaries and perks to snag top talent in this competitive landscape.

Against this backdrop, Ashwin Sheth group is focusing on employee centricity to control attrition and its resultant impact on the balance sheet. Prabhakar Azad, chief people and process officer of Ashwin Sheth Group, added, “By integrating technologies like SAP, customised HR services like HONO, smart apps, and cloud-based CRM like SalesForce, we are transforming our operational efficiencies to consistently exceed customer expectations moving towards being a tech-driven company.”

He added that in FY23-24, Ashwin Sheth Group was recognised as one of the preferred companies for its pay cycle. “We are devoted to attracting and hiring the industry's top talent, ensuring our leadership team sets the benchmark in expertise and industry-leading business practices,” he added.

Dealing with trials

Recent economic slowdown and market fluctuations have led to decreased property demand. Data from Anarock’s property research shows that sales of new homes declined for the first time in April-June 2024 quarter. During this period, around 120,340 housing units were sold, which is 8% lower than unit sales in the January-March quarter, which stood at 130,170.

Stagnating property values, and increased competition among real estate businesses are adding to this conundrum. To address this challenge, Ashwin Sheth Group is proactively diversifying its portfolio and creating properties that resonate with market demands.

It is expanding in prime locations, focusing on acquiring land in high-potential areas to develop projects that cater to the evolving preferences of luxury homebuyers. A customer-centric approach is central to its strategy; it will continuously engage with its customers to understand their needs and preferences, incorporating their feedback into its project planning and execution. This is to ensure that it deliver homes that meet their expectations.

“By focusing on exclusive, high-end developments, we attract discerning buyers who desire premium living experiences. Through these strategic initiatives, we are well positioned to address market challenges and ensure robust demand for our properties,” Sheth said.

The refreshed brand identity will play a pivotal role in crafting narratives that build a personal connection with potential customers. The company intends to utilise these techniques to effectively communicate the distinct benefits of its ongoing projects.

“Through engaging content, we will illustrate how our spaces are designed to enhance the quality of life, focusing on functional design, superior quality, and innovative features. We will also share success stories from past projects to build trust and showcase our proven track record, additionally, we will also employ interactive visualisations, virtual tours, and client testimonials to help prospective purchasers picture their future residences,” Bhandari explained.

Bhavik Bhandari, chief sales and marketing officer at Ashwin Sheth Group

Sustainability holds the key

Escalating construction costs, land prices, and property taxes pose significant challenges to real estate developers and potential homebuyers. Moreover, delayed projects are giving rise to affordability concerns. Ashwin Sheth Group is exploring sustainable and cost-effective construction practices to address this challenge and also collaborating with local governments to promote affordable housing initiatives.

The company is adopting advanced construction technologies and sustainable materials to address these challenges, thereby optimising costs and reducing environmental impact. It is also streamlining its project management processes to minimise delays and ensure timely delivery, leveraging technology for better planning and execution.

Talking about how it is marketing its financing options that cater to first-time homebuyers to alleviate affordability concerns and increase sales conversions, Bhandari said, “While we do not operate in the affordable housing segment, we contribute to the overall housing ecosystem through broader urban development initiatives in collaboration with local governments. We communicate our sustainability efforts and cost-effective practices effectively through digital marketing, social media, and customer engagement events, connecting with environmentally conscious buyers.”

Additionally, it offers attractive mortgage rates and payment plans in partnership with leading financial institutions, making it easier for buyers to invest in its properties. By providing a glimpse into the lifestyle and community buyers can expect, it aims to create an emotional connection that transcends the physical space.

Ashwin Sheth is gearing up to shake up urban living with a dash of innovation, a sprinkle of sustainability, and a whole lot of community vibes. The big reveal of their snazzy new logo and vision is a bold reminder of their promise to make life better for their customers, all while staying true to their passion for sterling quality and killer design, in a bid to set the gold standard in the real estate game.

Source: Campaign India