A construction, banking and investment veteran is taking a stab at overhauling a broken real estate sector by cementing it with loads of technology and accountability. Will Ram Yadav's audacious gambit pay off?
Image: Neha Mithbawkar for Forbes IndiaRam Yadav, Founder & Chief Executive Officer at Integrow Asset Management
Mumbai, 1999. The choice was between Arthur Andersen and Shapoorji Pallonji. And for the young Mumbai lad who had just cleared his MBA in finance, it was definitely a no-brainer. Swanky building, luxurious office, a storied brand, and an opportunity to start a career with a marquee multinational accounting firm was undoubtedly a dream start for Ram Yadav. But the dream got interrupted. Yadav’s father brutally injected some realism into his son’s fantasy world. “Who are you going to work with?” he asked. “Arthur Andersen,” replied Yadav, who was enamoured with the American brand. Not satisfied with the reply, his father kept probing. “I asked who, I didn’t ask which brand,” he said sternly. It was turning out to be a difficult question for Yadav.
His father, though, was convinced that he had popped up an easy query. The answer too, he explained to his son, was straightforward. “You don’t need to break any sweat,” he underlined, explaining what all his lad must look for to help him take a call about his maiden job. The other offer with Shapoorji Pallonji was working as an EA (executive assistant) to director of operations. An IITian who also added heft to his role by graduating from IIM-Calcutta, the director had all the qualifications that would have helped a rookie learn the craft. “If you know what all you should not do, then clarity on what to do comes as easy as a breeze,” his father advised. “Work in a constructions’ company, get your hands dirty, and learn to build from scratch,” he suggested. The son dutifully obliged, and joined Shapoorji Pallonji in 1999.
Yadav knew what to do, but he didn’t know what all he could be asked to do. Just a few months into his job, he was sent to audit a real estate project in Nashik, Maharashtra. Staying true to his new-found belief—of knowing what not to do—the young professional called up his director. “The project will get delayed,” he said in his blunt assessment. Impressed by his honest evaluation, the director unwittingly added stress into the life of his disciple. “Stay there. Don’t come back. Find out what’s wrong and fix it,” was the command from the captain, who knew that the project might get languished, but nobody in the team mustered the courage to wave the red flag and inform him.
Yadav’s life went for a toss. The project site—the factory on the outskirts was being designed to make seating gear for Mahindra & Mahindra, including the yet-to-be-launched Scorpio—was nothing less than a jungle. Yadav battled the odds for a few months and came back. “It changed my life,” he recalls. “I saw closely how real estate projects work and the potential problems,” he adds. And if the young lad thought that he would be duly rewarded, he was right. His boss, though, had a different kind of prize in his mind. “Now you know very well how to manage stressed projects,” he said. “So, from now on, this is what you will deal with,” came the reply. That’s how stress, Yadav underlines, got added to my life. “And it kept haunting me.”