Bengaluru, Karnataka, January 28, 2o19 ––
- SOBHA improves its overall performance and maintains leadership position in best practices
- 82% of positive buzz around brand SOBHA
- Bengaluru-based developers ahead in adoption of best practices in Indian real estate sector
SOBHA tops national ranking once again in best practices. The company has been ranked as number 1 for the second time in Track2Realty Best Practices Report 2019 – one-of-its-kind in-depth report in the Indian real estate sector.
Out of the 10 metrics on which companies were evaluated, SOBHA was at the top position in 6 of these. In fact, SOBHA has not only maintained its leadership position nationally but has also improved its performance further. Also, SOBHA has retained its leadership position in South India as per the report.
The methodology employed towards this in-depth study was stringent. The developers were rated and ranked through a consumer-centric social audit of its brand equity, consumer confidence, best practices, projects and many other insightful aspects. They were evaluated based on 10 parameters – Fiscal Management; Execution; Market Depth; Consumer Connect; Transparent Deals; Functional Professionalism; Care; Employer; Communication and Desirable Practices.
The top ranked developers were not only evaluated through structured buzz of scientific consumer survey but also through unstructured buzz that tracks social media and other open forums online. The unstructured buzz was monitored on parameters of Brand Awareness; Brand Acceptance; Brand Appreciation; Brand Accountability; Brand Affordability; Repeat Buying; Peer Endorsement; Social Buzz; Beyond Catchment and Critique Choice.
A large sample size of 10,000 respondents in 20 cities (500 samples in each city) were targeted. The results are based on a set of open-ended and close-ended questions to understand the consumer psychograph and understanding about real estate companies pan-India.
Speaking on the occasion, Mr. Ravi Menon, Chairman, SOBHA Limited said, “Since the time of our inception, it has been our aim to maintain the highest levels of integrity, transparency and reliability in the way we conduct our business. Remaining true to our well-laid out processes, which are entrenched in our work ethic and culture, we are committed to strengthen it further. This recognition reiterates our persistent efforts once again. This is the second time that we have been able to maintain our leadership position in adhering to the best practices in the sector. In fact, this year, we have improved our overall performance, making it an important achievement for us. It is an extremely proud and humbling moment for us. We are thankful to our stakeholders and acknowledge their continuous support in helping us achieve such milestones.”
Mr. Menon added, “Recognition in Best Practices Report 2019 is an affirmation of our deep-rooted belief in adhering to top of the line practices. We are always on the lookout for best practices that can be emulated. We take pride in learning and we are nimble footed.”
The overall best practices score of SOBHA is 81.1 in 2019 as compared to 78.0 in 2017. On each metric of 0-10 scale, SOBHA could earn 8.2 for fiscal management; 8.4 for execution; 8.2 for market depth; 8.7 for consumer connect; 8.6 for transparent deals; 7.7 for functional professionalism; 8.8 for care; 7.3 for employer; 7.8 for communication and 7.4 for desirable practices.
Further, SOBHA continues to lead the best practices score in South India as well. Improving its score of 80.2 in 2017, SOBHA has achieved 83.2 in South India ranking. On each metric of 0-10 scale, SOBHA could earn 8.4 for fiscal management; 8.8 for execution; 8.4 for market depth; 8.8 for consumer connect; 8.7 for transparent deals; 8.1 for functional professionalism; 8.8 for care; 7.6 for employer; 7.8 for communication and 7.8 for desirable practices.
Additionally, the report also rates the project SOBHA Forest View, Bengaluru as A+ under its project watch section.
This insightful report highlights the fact that top ranked developers have shown promise and intent by adopting the best practices.
This is India’s only sectoral report to evaluate the adherence to best practices in business by real estate companies. This is the second time that Best Practices Report has been brought out by Track2Realty – an independent real estate think-tank. Track2Realty relies on information available in the public domain and the consumer survey.