Vikas Oberoi Success Story

Vikas Oberoi

Introduction:

Vikas Oberoi is the chairman and managing director of Oberoi Realty, a Mumbai-based company known for its high-end suburban condos, hotels, malls, and office towers. He was born in Mumbai, Maharashtra in 1969 to Ranvir Oberoi and Santosh Oberoi. He graduated from Jai Hind College in Mumbai and attended Harvard Business School for the Owner/President Management program. He has two sons with his wife, former Bollywood actress Gayatri Joshi. He also founded the Oberoi Foundation, which works to build educational institutions and other social infrastructure. He is a licensed pilot who enjoys flying. According to Forbes, he has a net worth of $3.6 billion as of July 2023.

Childhood:

Vikas Oberoi was born in 1971 in Mumbai, India, into a family with a long history in the real estate industry. Oberoi Realty was founded by his father, Ranvir Oberoi, and his mother, Rinku Oberoi, was a social worker. He grew up in a warm and welcoming environment, where he developed an interest in architecture and design. He attended a local school in Mumbai before graduating from Jai Hind College. He also completed Harvard Business School's Owner/President Management program. His father's vision and passion for creating quality living spaces for people inspired him.

Early Ventures:

In 1993, he joined his father's company as managing director of Oberoi Constructions, which was then a small firm primarily focused on residential projects. He introduced new ideas and strategies to help the company grow and improve its brand image. He also pioneered new concepts like branded residences, luxury retail, and mixed-use developments. Oberoi Constructions was transformed by him into one of Mumbai's leading real estate developers.

Oberoi Reality:

In 2007, Vikas Oberoi decided to go public and rename his company Oberoi Realty. He raised Rs 1,026 crore in an initial public offering (IPO) that was 12 times oversubscribed. He used the money to buy land and build new projects throughout Mumbai. He also ventured into other industries such as hospitality, retail, and commercial real estate.
Oberoi Realty's most notable projects include:

• Oberoi Garden City is a Goregaon-based 80-acre integrated township that includes residential towers, offices, a mall, a hotel, and a school.
• Oberoi Sky City in Borivali, a 25-acre residential complex with panoramic views of the Sanjay Gandhi National Park.
• Oberoi Splendor, a 13-acre residential development in Andheri with landscaped gardens, a clubhouse, and sports facilities
• Oberoi Commerz, a premium office tower in Goregaon home to multinational corporations such as Apple, DuPont, and Abbott.
• Oberoi Mall in Goregaon, a four-story shopping mall with a mix of retail, entertainment, and dining options.
• The Westin Mumbai Garden City, a five-star hotel in Goregaon with 269 rooms, restaurants, a spa, and meeting space.
• The Ritz-Carlton Mumbai, India's first Ritz-Carlton hotel and residences, is being built in Worli.

Other Ventures:

Apart from Oberoi Realty, Vikas Oberoi has founded several other businesses under his umbrella, including:

• Pinnacle Aviation, which offers charter flights and aircraft management services. Vikas Oberoi enjoys flying and owns a Cessna Citation jet and a Bell 407 helicopter.
• Oberoi Foundation, a charitable trust dedicated to the development of educational institutions and other forms of social infrastructure. The foundation operates the Oberoi International School, which provides world-class education to children in grades pre-primary through grade twelve.
• Astir Realty, a joint venture with Sahana Group is building a mall, hotel, and office tower in Mumbai's financial district.
• Kingston Property Services, Oberoi Realty's subsidiary that provides property management services for its projects.

Honors and Recognition:

Vikas Oberoi has received numerous awards and accolades for his entrepreneurial accomplishments and social impact. Among them are:

• Received the Best Serial Entrepreneur Award at the Rural and Urban Development Summit and Awards 2022, which were presented by the Minister of State for Housing and Urban Affairs of the Government of India.
• Forbes magazine named him the Youngest Indian Billionaire in 2017.
• In 2018, AIMA (All India Management Association) named him Entrepreneur of the Year.
• Named one of Time Magazine's 2017 100 Most Influential People.
• In 2016, The Economic Times named him ET Entrepreneur of the Year.
• Named by GQ as one of the 50 most influential young Indians in 2017.
• In 2017, he was named Dataquest IT Man of the Year.
• In 2016, he was awarded an honorary doctorate by Amity University in Gurgaon.
• In 2016, he was awarded the Yash Bharati, Uttar Pradesh's highest state civilian award.
• Named Businessman of the Year at the 2016 GQ Men of the Year Awards.

Quotes:

"One can use the principles of karma to build a better brand and that is what we have tried to do." ~ Vikas Oberoi

"Understatement is the hallmark of good taste, says the owner of Oberoi Realty and a member of the Forbes India Rich List. And the biggest failure of a luxury-seeker is the tendency to drop names." ~ Vikas Oberoi

"If you have 30 minutes to spare, why not?" ~ Vikas Oberoi

"Luxury is about excellent finish, great craftsmanship, appreciation of minute details, history and legacy." ~ Vikas Oberoi

"You can’t just write a cheque for something expensive and be connected to it. It has to blend into you." ~ Vikas Oberoi

"We don't want to be the biggest, we want to be the best." ~ Vikas Oberoi

Conclusion:

Vikas Oberoi is one of India's most successful and influential entrepreneurs, and his vision and innovation have revolutionized the real estate sector. He has also had a positive social impact by providing access to quality living spaces, education, and employment to millions of Indians. He is a role model for young Indians and an inspiration to many aspiring entrepreneurs.

"Real estate is not just about building homes. It is about creating communities." ~ Vikas Oberoi

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