In the real estate sector, residential developments comprise a significant 65-75 percent, with individual homes, villas, and bungalows accounting for 15-25 percent, equating to a market size of 20- 23 billion. Despite this demand, quality service delivery at competitive prices remains a challenge. Furthermore, the sector is largely unorganized, with local contractors and a few startups lacking in project execution expertise. This is where Poetry emerged to address this gap in the B2C segment by bringing design and engineering excellence to small-scale residential projects.
Poetry’s focus lies in applying large-scale project management proficiency to these ventures, enhancing quality and technical expertise in an industry dominated by unorganized contractors. Poetry tailors project management solutions, integrating data-driven monitoring and resource control. “We recognized existing competitors who, despite claims of contractor training and experience, failed to resolve fundamental issues.
Clients encountered struggles like under-quoting and unexpected charges, resulting in experiences akin to dealing with regular contractors. This prevailing concern motivated us to address the core problem: ensuring material quality, maintaining standards, and offering transparency. With this, we assure clients amidst a landscape of confusion and lack of education regarding crucial aspects of construction,” highlights Praveen Nair, Co-Founder at Poetry.
Delivering Unparalleled Solutions
Poetry's core principles revolve around three pillars. Firstly, Design Excellence is our hallmark, making top-tier architectural brilliance accessible and affordable by integrating skilled architects into our services. Secondly, our commitment to utmost quality is evident through specialized, skilled labor teams, ensuring superior output compared to contractors who compromise on quality.
Lastly, innovative project management defines our approach, with a focus on digital transformation and collaboration to integrate cutting-edge software, enhancing client experiences with seamless interfaces. With this integrated approach, Poetry successfully orchestrates seamless transition from design concept to real-world execution, ensuring timely delivery without compromising on quality and affordability.
Praveen highlights a notable success story - a project initiated in January completed a month ahead of the ten-month timeline despite challenges posed by heavy rains in Whitefield, Bangalore. Learning from past setbacks, the team navigated weather-related obstacles while meeting quality benchmarks, timelines, and exceeding client expectations.
He further emphasized Poetry's evolution beyond traditional roles, integrating design excellence into core expertise, making high-end design accessible to the middle class. “Beyond design, our challenge lies in translating these exquisite 3D renderings into tangible, real-world outcomes. We address this by assembling skilled teams tailored to specific regional designs, such as the Chettinad style from Tamil Nadu or the traditional Kerala architecture. These teams ensure that our designs manifest flawlessly, leveraging conventional techniques to achieve the desired quality,” says Praveen.
Poetry's collective experience totals 25-30 years, blending Praveen's 14- year history in real estate, investment banking, capital management, and project management with his co-founder's 8-10 years as an architect. Starting as a duo, the company now boasts a core team of 6-8 members and a support network of 35-40, aiming for expansion and diversification while attracting investor interest for upcoming product launches within a year.
Praveen's corporate real estate management expertise and his co-founder's diverse architectural design experience, spanning luxurious resorts, high-end hotels, and upscale homes, combine to exceed 40 years. As new team members join, Poetry’s collective experience is set to surpass 100 years.
“Poetry envisions a promising future by expanding products like farmhouses, ready-to-move villas, and budget projects on a larger scale. Engaging angel investors and seeking collaborations, our focus stays on strategic growth. Our roadmap includes entering Pune, Hyderabad, and Chennai markets within 12-24 months, driven by the rising demand for design-focused developments post-COVID,” concludes Praveen.
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