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Can you please give us a brief about RMZ Corp.?
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RMZ Corp. is India’s leading corporate real estate developer and has set new standards in Real Estate Development. In just 6 years, RMZ has acquired and developed over 13 million square feet and today manages a property portfolio in excess of US$ 2 billion in real estate value across India.
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Please elaborate on the the beginning and the growth story of RMZ Corp.
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RMZ Corp was incorporated in 2002. But it is the result of a vision that was formed much before. Years of preparation and study and the ultimate realization that the way this business was run was ready for a change paved the way for the company’s formation
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What is the binding philosophy of RMZ Corp?
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The Binding philosophy of RMZ corp. is ‘Being The Change’ through the spirit of transparency, reliability and advancement (Continuous improvement)
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Do you have any fully-owned partnership or subsidiaries?
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One of our partners is AIG GRE which is the world’s largest insurance company. We don’t have any subsidiaries.
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What are the various verticals RMZ Corp. is into?
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At present RMZ is into commercial spaces and is now launching into the retail segment. The other verticals that RMZ is entering are residential, hospitality and SEZs.
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Please elaborate the Business Model of RMZ Corp.
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RMZ’s Business model revolves around leasing assets and not selling, thus creating a long term asset and value appreciation model. This also allows regular revenue generation helping maintain a healthy cash flow.
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What are the USPs of RMZ Corp. projects?
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Unique Value Recognition Skills
In- house expertise
Access to deal flow
Market cycle Experience
Alternative sources of capital
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What is the total property portfolio of the company?
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RMZ manages a total property portfolio of US$ 2 billion.
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Please define your target segment.
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In the Corporate segment our Target segment is the IT, ITES and MNC Companies
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Please tell us about your portfolio of clients.
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We have over 70 world-class corporations such as Accenture, Shell, E&Y, Reuters, Google, British Telecom, Broadcom, and Microland among others.
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Do you offer any Value-Added services to your clients?
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Yes the various value-added services that we offer our clients are- Tenant relations, Tenant improvement and Asset management
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Where are your offices located? Do you have plans to expand to Tier II and Tier III cities?
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Our offices are located in Bangalore (Headquarters), Chennai, Hyderabad Kolkata and Pune. We are already present in the Tier I and will be expanding into tier II- Mysore, Nagpur, Kochi, Coimbatore and Nagpur
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Does RMZ Corp. have a research and development (R&D) facility? If so, where is it located?
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No
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Are you currently a member of any Trade organisation/ associations?
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We are the founding member of The Indian Green Building Council and a member of the U.S Green Building Council. We are also the member of CoreNet Global, Urban Land Institute and Confederation of real Estate Developers Association of India as well as ICSC
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Are you looking at any Mergers & Acquisitions (M&As) or Joint Ventures (JVs)?
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We have a joint venture with Hochtieff which is the world’s largest construction company.
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Are your projects eco-friendly? If so, what are the measures you have taken?
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Some of our projects are Eco- friendly like Millenia in Chennai which has been awarded the LEED Gold pre-certification. Our project, Ecospace at Kolkatta is one of the first buildings in India to receive Platinum pre-certification by LEED (US Green Building Council)
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Any special Awards or Quality Certifications received by RMZ Corp.?
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Our project, Ecospace at Kolkatta is one of the first buildings in India to receive Platinum pre-certification by LEED (US Green Building Council)
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What is RMZ Corp. Management Mantra?
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The Management Mantra at RMZ is focused on bringing the best management practices in the world to our work. Constantly learning, evolving and creating.
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How many employees work in RMZ Corp?
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Today we have around 250 employees across 5 cities
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Please give us details of the core team of RMZ Corp.
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The core Team consists of Two Managing Directors- Manoj Menda and Raj Menda. The other Pillars of the Organization are-
1. CK Krishna
2. AN Venugopal- Sr VP Projects
3. BH Vinayak- VP Projects
4. Yashodhan Joshi- VP Land
5. Tejaswi N- VP Design
6. Ashdeep sethi- VP Investment and Alliances
7. Sowmia Narayanan- VP Finance
8. Jiji Thomas- VP asset Management
9. Monisha Tambay-VP People’s Team
10.Sonali Lalvani- Head – Marketing and Corporate Communications
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Please define the Corporate Social Responsibility (CSR) initiatives by RMZ Corp.
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Being the Change is about caring about the environment in which we function. It is about investing in the health of the people who are our prime resources. As well as safety for our employees. As our corporate social responsibility, we have initiated a Green School drive which will have a positive impact on the environment and will reach out to the young budding generation.
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Please elaborate on RMZ Retail?
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RMZ Retail is the newly launched vertical that blends shopping and entertainment to perfection. We are going to conceptualise, design, develop, manage, and create high quality, multi-facility retail spaces and to ensure a world class ambience and atmosphere for customers and retailers alike.
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Give us a brief as to what paved way for RMZ Corp. entry into the retail business?
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RMZ Corp entered the Office Real Estate Segment with the belief that we could make a change to this otherwise unorganized industry- in the past 6 years we have developed a reputation for Grade A office Buildings built on our values of reliability and transparency- Our client base is the testimonial to this We also have partnered with like- minded clients, who understood and appreciate a vision to bring a change in this Industry- Retail today is relatively nascent- Generation one malls have come up – Some have worked and several other have failed to match the expectation of retailers and customers alike- We believe that the Industry and the customer is ready for a more holistic approach to retail development – Retailers are looking for the very same values that RMZ is known for and we believe that we can easily replicate these fundamental core values into tangible asset for brands and their customers
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What is RMZ Corp. Retail Business Plan?
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Our retail business plan is to create 12.6 million Sq.ft. of retail space in the next 5 years. In the period of 2008-2009 6.5 million sq.ft of retail space is already under planning
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Please give details of the Retail Projects? What is the Approximate investment involved?
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The following are the Malls in the pipeline:
1. Galleria, Bangalore (11, 00,000 sq, ft)
2. Esplanade Hyderabad (10, 00, 000 sq ft)
3. ION Bangalore (265,000 sq ft)
Investment details are not available as we are a privately held company
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Where are the projects located? Why were these cities selected to build RMZ malls?
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The projects are located in Bengaluru and Hyderabad. These locations were chosen as they have a large immediate catchment and have the most potential for the real estate and retail segment- In addition these sites were large enough to developed mixed used projects on them
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How much combined retail space do these malls offer?
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The combined retail space would be 36,64,926
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When are these projects expected to be completed?
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These projects are expected to be complete in the last quarter of 2010
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Please define your target segment.
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o Galleria- Destination mall with mid to high end brands
o Esplanade- Mixed Use Project
o ION- Mixed used project
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Do you offer retailers different types of lease agreements?
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Yes, there are two types of leasing agreements we follow
1-Long term leases for Anchors, Cinema operators etc
2-Short term leases- 1 year for F&B, Kiosks etc.
3-We are also open and negotiating with retailers on a revenue share model
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Have you already entered into lease agreements with Retail players? Please mention a few.
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Yes, some of the retail players who have agreements with us are Shoppers stop, PVR, Debanhams, Home stop, Hypercity and Westside have signed up a the Galleria
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Which international retail brands have agreed to occupy RMZ Corp. retail space?
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Debanhams
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How do you plan to cater to the different categories of players in the Retail market?
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During the initial concept design detailed feedback is taken from our key anchors on their particular requirements. Details about frontage, storage areas, entry points etc- The anchors occupy key critical mass of over 40% of our malls- The other store layouts are standardized however the placement of these stores is done by the category to ensure that our malls are all well zoned.
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Do you have any speciality malls? If so, please elaborate on their features.
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No, but we do have a premium section in each of our malls that are treated differently and uniquely compared to the rest of the mall
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What are the avenues for Food & Entertainment in these upcoming Malls?
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On the entertainment front we have tied up with PVR, leaders in the Cinema experience.
On F&B we are in the process of tying up with restaurants but each of the malls have extensive food offerings, food courts, coffee shops scattered across the mall
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Where are the projects located? How do you plan to differentiate RMZ from competition?
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Our projects are located in Bangalore and Hyderabad.
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