Bangalore is the land of IT jobs, rock music, party animals and foodies. As much as it looks like one of the most desirable metropolitans to live in today, the picture wasn’t like this two decades ago. Regular investments over a long period of time by real estate players changed the face of Bangalore to what it looks today.However, Mantri Developers by Sushil Mantri has been the standout contributor to Bangalore’s development. The story of their founder’s rise from a dreamer to achiever is a source of inspiration for many entrepreneurs and existing builders.
Sushil Mantri’s Contribution
Sushil Mantri shares a major part of the credit of his success with his father, a textile businessman. When Sushil Mantri passed his 10th standard in 1978, he started helping in the business. The idea of entering the realty business came after he saw Amitabh Bachchan’s Trishul in 1979.
The stature of real estate fascinated him so much that they started dealing in property investment parallel to the textile business. After almost 10 years, Sushil Mantri decided to concentrate on real estate. In 1987, the family sold their textile business and diverted their undivided attention to real estate. Sushil Mantri fueled his efforts with vision, ambition and his father’s support as he devoted himself to their new venture.
Mantri Developers Owner’s journey
Year 1999 witnessed the inception of Mantri Developers and since then, Sushil Mantri never looked back. Mantri Woodlands and Mantri Paradise were making waves of success in the market and in 2002, he won the Best Landscape Award from Mysore Horticultural Committee for both the projects.Mantri Developer’s owner had already made a name for himself in the market by creating a record of delivering approximately 1.4 homes per day. Mantri Altius, in 2003, became the first property to be sold by invitation, and in the successive year, they completed 4 million sq ft of construction.
Success Of Mantri Developers
Many real estate builders were in the picture by 2005, and there was cutthroat competition in the market. Sushil Mantri proved his mettle by becoming the first developer to have a Public Private Partnership (PPP) for the improvement of Bannerghatta Road. Morgan Stanley’s first real estate investment in India came in March, 2006. They invested around $68 million in Mantri Developers on which Sushil Mantri said,
“We are excited to be partnering with Morgan Stanley to grow our residential business. The partnership will be integral to our ability to create value by expanding our presence in Bangalore and other key markets. This relationship is also an important step in the diversification of our business.”
Challenges and their excitement constantly pushed Mantri to think out-of-the-box, and keep expanding their horizons. Their commercial crown jewel, Mantri Square, is the largest mall of Bangalore with 1.7 million sq ft spaced building including over 250 retail outlets in 2010. In the same year, they launched the then tallest residential tower of South India, Mantri Pinnacle.
The development of Bangalore and the name of Sushil Mantri was the talk of every town. However, Mantri realized that development at the cost of environment is going to backfire in the near future. The demand of real estate was soaring, but it was necessary to factor in a sustainable angle.In a bid to achieve this, the company embraced green practices to promote the concept in the Indian realty sector.” In this context, the real estate sector will act as an important catalyst for transformation, energy and sustainable initiatives in the country. The sector impacts not only the economic and social life, but also on the environment. We are committed to the vision of creating a sustainable world into reality,” he says. Their commitment helped them receive the most coveted CII-ITC Sustainability Award for 2012 and 2013.
Apart from his professional life, he has been a thorough achiever on the personal side too. His wife, Snehal Mantri is the Director of Marketing & HR at Mantri Developers who has substantially contributed to Insignia (customer loyalty program) and Propcare (Post-purchase Property Maintenance facility).His children, Pratik and Priyanka Mantri are involved in the family business and expected to take the household name of Bangalore’s real estate to greater heights. To all the young entrepreneurs, Sushil Mantri says:
“Where is the fun if you do not take any risks? Listen to your gut. Always have a backup plan for rainy days and remember to keep your loved ones close. Money will come and go, but they’ll stick with you.”