Credit: GRI Club Inspiring Insights with Dr. Niranjan Hiranandani
The 'Industry Guru' and GRI Awards India 2024 Person of the Year participated in an exclusive on-stage interview at India GRI 2024
October 28, 2024Real Estate
Written by Isabella Toledo
During the inaugural edition of the GRI Awards India, Dr. Niranjan Hiranandani, widely recognised as the 'Industry Guru' of real estate, was honoured as Person of the Year. With his strategic vision and exceptional business acumen, Dr. Hiranandani has led the Hiranandani Group to global prominence, earning him the title of 'Real Estate Wizard.'
Beyond his business success, he is also deeply committed to education and philanthropy, serving as the Provost of HSNC University and receiving notable accolades such as the 'Mumbai Ratan' award.
A truly inspiring figure who has played a significant role in shaping the Indian real estate landscape, we were privileged to have Dr. Hiranandani share his insights in an engaging on-stage interview with Gustavo Favaron, CEO & Managing Partner of GRI Club, at India GRI 2024. In this discussion, he offered his predictions for the future of Indian real estate, reflected on his personal journey, and provided valuable advice for young entrepreneurs.
When discussing his inspiration, he highlighted India’s rich history and global influence, noting the exceptional talent of Indians as leaders, scientists, and innovators worldwide. He also remarked on India’s recent 7% GDP growth rate and the 12% annual growth in real estate as markers of a shift towards realising this potential, referencing NITI Aayog’s forecast of real estate’s GDP contribution doubling over the next four years.
Reflecting on recent trends, Dr. Hiranandani identified an unexpected surge in mid-level and luxury housing, now outpacing the traditionally strong affordable housing segment, influenced by rising interest rates and the depletion of Pradhan Mantri Aawas Yojna funds.
He further highlighted steady growth in commercial real estate, which, contrary to post-COVID expectations, has thrived despite the work-from-home shift. He attributed this resilience to increased consolidation, especially among larger, publicly listed companies - a shift he believes has been catalysed by the Real Estate Regulatory Act’s (RERA) role in boosting investor confidence.
While expressing optimism for India’s real estate potential across commercial, residential, and industrial sectors, as well as data centres, Dr. Hiranandani acknowledged that challenges remain, particularly in advancing ease-of-doing-business reforms. Nonetheless, he emphasised India’s position as one of the fastest-growing real estate markets globally, signalling vast opportunities ahead for investors and developers alike.
Reflecting on his personal journey, Dr. Hiranandani shared the main lesson he would pass to his younger self: embrace faster learning and adaptability. He recognised that, although huge amounts of information are readily available today, the true skill lies in filtering it to extract actionable knowledge. Looking back, he admitted he “learned too slowly,” and in today’s fast-paced environment, he believes success hinges on a commitment to continuous learning and quick adaptation.
When asked how he would like to be remembered, Dr. Hiranandani emphasised trust as the defining feature of his legacy. He believes trust is foundational to all relationships, whether with investors, clients, employees, or the broader community. For aspiring entrepreneurs, he advised continual learning and humility, stressing the importance of remaining open to insights from younger generations. “If you’re not constantly learning new things, then you really become old,” he remarked.
In a closing reflection on life’s meaning, Dr. Hiranandani emphasised the importance of using human capabilities to contribute positively to the world, driven by empathy, creativity, and innovation. For him, true purpose lies in transcending mere existence to create a lasting impact and honouring life by leaving a meaningful legacy that benefits future generations.
Watch the complete interview with Dr. Niranjan Hiranandani below:
During the inaugural edition of the GRI Awards India, Dr. Niranjan Hiranandani, widely recognised as the 'Industry Guru' of real estate, was honoured as Person of the Year. With his strategic vision and exceptional business acumen, Dr. Hiranandani has led the Hiranandani Group to global prominence, earning him the title of 'Real Estate Wizard.'
Beyond his business success, he is also deeply committed to education and philanthropy, serving as the Provost of HSNC University and receiving notable accolades such as the 'Mumbai Ratan' award.
A truly inspiring figure who has played a significant role in shaping the Indian real estate landscape, we were privileged to have Dr. Hiranandani share his insights in an engaging on-stage interview with Gustavo Favaron, CEO & Managing Partner of GRI Club, at India GRI 2024. In this discussion, he offered his predictions for the future of Indian real estate, reflected on his personal journey, and provided valuable advice for young entrepreneurs.
(GRI Club)
When discussing his inspiration, he highlighted India’s rich history and global influence, noting the exceptional talent of Indians as leaders, scientists, and innovators worldwide. He also remarked on India’s recent 7% GDP growth rate and the 12% annual growth in real estate as markers of a shift towards realising this potential, referencing NITI Aayog’s forecast of real estate’s GDP contribution doubling over the next four years.
Reflecting on recent trends, Dr. Hiranandani identified an unexpected surge in mid-level and luxury housing, now outpacing the traditionally strong affordable housing segment, influenced by rising interest rates and the depletion of Pradhan Mantri Aawas Yojna funds.
He further highlighted steady growth in commercial real estate, which, contrary to post-COVID expectations, has thrived despite the work-from-home shift. He attributed this resilience to increased consolidation, especially among larger, publicly listed companies - a shift he believes has been catalysed by the Real Estate Regulatory Act’s (RERA) role in boosting investor confidence.
While expressing optimism for India’s real estate potential across commercial, residential, and industrial sectors, as well as data centres, Dr. Hiranandani acknowledged that challenges remain, particularly in advancing ease-of-doing-business reforms. Nonetheless, he emphasised India’s position as one of the fastest-growing real estate markets globally, signalling vast opportunities ahead for investors and developers alike.
(GRI Club)
Reflecting on his personal journey, Dr. Hiranandani shared the main lesson he would pass to his younger self: embrace faster learning and adaptability. He recognised that, although huge amounts of information are readily available today, the true skill lies in filtering it to extract actionable knowledge. Looking back, he admitted he “learned too slowly,” and in today’s fast-paced environment, he believes success hinges on a commitment to continuous learning and quick adaptation.
When asked how he would like to be remembered, Dr. Hiranandani emphasised trust as the defining feature of his legacy. He believes trust is foundational to all relationships, whether with investors, clients, employees, or the broader community. For aspiring entrepreneurs, he advised continual learning and humility, stressing the importance of remaining open to insights from younger generations. “If you’re not constantly learning new things, then you really become old,” he remarked.
In a closing reflection on life’s meaning, Dr. Hiranandani emphasised the importance of using human capabilities to contribute positively to the world, driven by empathy, creativity, and innovation. For him, true purpose lies in transcending mere existence to create a lasting impact and honouring life by leaving a meaningful legacy that benefits future generations.
Watch the complete interview with Dr. Niranjan Hiranandani below:
