A Project Report on

Real Estate
Oberoi Realty Limited
Brigade enterprises Limited
NBCC India Limited

By Mital Gohil
Master of Arts in Human Resource Development
(2020-2022)

Under guidance of Henal Parikh

DEPARTMENT OF HUMAN RESOURCE DEVELOPMENT

VEER NARMAD SOUTH GUJARAT UNIVERSITY

1
 Report Completion Certificate

VEER NARMAD SOUTH GUJARAT UNIVERSITY

DEPARTMENT OF HUMAN RESOUCE DEVELOPMENT

Veer Narmad South

Phone : (0261) 2256071 Gujarat University
Fax: (0261) 2256071 Campus,
Udhna-Magdalla Road,
Surat,

CERTIFICATE
TO WHOMSOEVER IT MAY CONCERN

This is to certify that Gohil Mital Karansinh student of Master of Human Resource
Development (MHRD) of Department of Human Resource Development 2020-2022 has
prepared this project report on HR practices undertaken by him.

He has prepared this report under the guidance of faculty Henal Parikh of the
Department of Human Resource Development as such he is allowed to submit this report
for final assessment.

Place: Surat
Date: DD/MM/YYYY

___________________ ___________________
Dr. Digvijay Thakore
(Supervising Teacher) (Professor & Head)

Declaration

2
 I hereby declare that the project work entitled “A Project Report on Real Estate Sector 1.
Oberoi Realty Limited 2. Brigade enterprises Limited 3. NBCC India Limited.” submitted
to the DEPARTMENT OF HUMAN RESOURCE DEVELOPMENT, is a record of an
original work done by me under the guidance of Ms. Henal Parikh, and this project work is
submitted in the partial fulfilment of the requirements for the award of the degree of Master
of Ats in Human Resource Development.

Mital Gohil

3
 Acknowledgement

“It is not possible to prepare a project report without the assistance & encouragement of
other people. This one is certainly no exception.”

On the very outset of this report, I would like to extend my sincere & heartfelt obligation
towards my faculty who have helped me in this endeavour. Without her active guidance,
help, cooperation & encouragement, I would not have made headway in the project.

I am thankful and pay my gratitude to head of the department Dr. Digvijaysinh Thakore for
giving me this opportunity. I am thankful and pay my gratitude to my faculty Ms. Henal
Parekh for her valuable guidance and support on completion of this project in its presently.

I extend my gratitude to Department of Human Resource Development for giving me this

opportunity.

Any omission in this brief acknowledgement does not mean lack of gratitude.

Thanking You
Mital Gohil

4
 Executive summary

This report is about a study of the three different Real Estate sector companies, named
Oberoi Realty Limited, Brigade enterprises Limited, NBCC India Limited tried to cover
possible all aspects of the functioning of the companies with Human Resource
Development function.

In 1st Chapter, you can find the information on the Real Estate Sector. I have covered the
history of the sector in the world as well as in India, overall working of the sector, Top
major players or competitors of the companies, SWOC analysis, GDP contribution and
some funny facts and figures. As well as, I have also covered the challenges faced by the
sector in India.

The 2nd Chapter is about the companies which I have chosen. I have mentioned some basic
details like years of establishment, vision-mission-value statement, name of founders, name
and location of the branches, Moreover, I have added SWOT analysis of the companies,
and also some Awards and Recognitions.

3rd Chapter is all about HRD mechanism adopted by companies. All companies have their
own ways to cover recruitment & selection, training & development, HR policies,
performance appraisal methods, employee safety plan, employee engagement programs,
grievance handling. Additionally, I have added CSR activities of the as they have
performed tremendously.

I am really glad to cover companies’ other department in 4th Chapter; like finance,
marketing, performance/operational. At the end you can find some conclusion from me in
Chapter 5.

5
 The details of the companies are taken from their official sites and latest annual report.
Also, I have mentioned the other links and books that I have reviewed to prepare this
report.

6
 Table of Contains

Particulars Page No.

Title Page 1
Report completion certificate 2
Declaration 3
Acknowledgement 4
Executive summary 5

Chapter 1. Industrial scenario 8-15

History 9
Overall working 9
Challenges faced in India 9
SWOC analysis 11
Major Players 12
GDP contribution by that sector 13
Facts and Figures 14

Chapter 2. Profile of the companies 15-29

Oberoi Realty Limited 16
Brigade enterprises Limited 20
NBCC India Limited 24

Chapter 3. Human Resource Development 29-47

Oberoi Realty Limited 30
Brigade enterprises Limited 35
NBCC India Limited 42

Chapter 4. Brief information 47-55

Oberoi Realty Limited 48
Brigade enterprises Limited 50
NBCC India Limited 53

Chapter 5. Conclusion 55
Bibliography 57&58

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 Chapter 1 – Industrial Scenario

8
 History/Evolution:
The real estate industry traces its roots all the way back to the early 1800s when the
Louisiana Purchase became the first major real estate acquisition made by the U.S.
To boost the residential industry in the country the Central Government established the
Housing & Urban Development Company in 1970, City & Industrial Development
Corporation in 1971 as well as the National Housing Bank in 1988.
Real estate became a legal term to identify a royal grant of estate land. ... The word “real”
is derived from Latin, meaning existing, actual, or genuine. The word “estate” is an English
translation of the Old French word “estat” meaning status.

Overall working:
Real estate involves the purchase, sale, and development of land, residential and non-
residential buildings. The main players in the real estate market are the landlords,
developers, builders, real estate agents, tenants, buyers etc.

Challenges faced by sector in India:

From limited land availability for construction activities to outdated building technologies,
Indian real estate has been long grappling with multiple issues. It is perhaps high time that
the Government provides immediate solutions to these problems and aid the perturbed real
estate developers and homebuyers.

Indian real estate is one of the biggest and globally recognised sectors accounting for about
13 percent of its Gross Domestic Product (GDP). The sector's market size was expected to
reach $1 trillion by the year 2030. But, the COVID-19 pandemic led to massive turbulence,
with the entire sector’s revenue and market share decreasing to a new low amid the
pandemic-led lockdown and reverse migration of construction labours. Nevertheless, the
introduction of COVID-19 vaccines and large-scale vaccination drive has opened the
economy. Businesses and markets are gradually returning to their pre-COVID-19 levels,
and it seems that the pandemic led problems would soon be history.

9
 But the pandemic had not been the only problem. Many other issues in the Indian real
estate sector have been troubling the developers and homebuyers since long. The
Government needs to pay heed to these issues and resolve them to make the sector more
efficient and growth orientated. Some of the widespread problems in the Indian real estate
sector are:

1. Unavailability of land:
There is a large share of underutilised and vacant land parcels that the Government should
spare for development through land regulations, land readjustment and land pooling
policies. This will help the real estate sector grow and improve the situation of financially
aggrieved developers. There is a growing call to change or revise the Land Acquisition
Resettlement and Rehabilitation Act of 2013.

2. Long-pending infrastructure projects:

Indian real estate market is rigged with examples of delayed and long-pending
infrastructure projects, be it the public sector projects or private sector housing colonies.
The major reason behind the delay is the uneven funding and lack of technologies to
complete them on time. Besides, the protracted approval process is also a considerable
challenge. Project approvals in India range from days to years due to the absence of a
single-window clearance option, which results in time and cost escalations.

3. Overpopulation:
By 2050, India will be the world’s most populous country, with over 50 percent of people
living in urban centres and Tier 1 cities. To sustain such a big population, India requires
more new cities and urban centres on a large-scale to provide all necessary resources to the
inhabitants. Thus, nationwide construction in the housing sector is essential.

4. Outdated building techniques:

Indian real estate is the only sector in the world that still uses old building techniques and is
overly dependent on extensive human labour. This, in turn, results in regular maintenance.
On the contrary, new construction techniques require high-quality building materials such

10
 as concrete and iron slabs, which involve less human participation. Therefore, it is crucial
that developers rely on modern building techniques as this will reduce not only the
construction time but also the labour cost and ensure faster deliveries.

SWOC analysis:

Strength:
1. Value Multiplies Overtime
2. Less Risky Investment
3. Authority over the Use of Land
4. Inflation Hedge
5. Used as Collateral
6. Traded in the Open Market

Weakness:
1. Difficult to Transfer Ownership
2. Not Liquid Asset
3. Huge Capital Required
4. Limited Supply

Opportunities:
1. Global Demand
2. Rapidly Growing
3. New Areas have Great Potential

Challenges:
1. Economic Recession
2. Competition with other Assets
3. Price Falls due to Less Demand

11
 Major Players in the sector:

 Prestige Estates projects Ltd.:

Name: Prestige Estates projects Ltd.
Year of Establishment: It was established in 1986
Company Profile: Over the last decade, the Prestige Group has firmly
established itself as one of the leading and most
successful developers of real estate in India by
imprinting its indelible mark across all asset classes.
Founded in 1986, the group’s turnover is today in
excess of Rs 3518 Cr (for FY 15); a leap that has been
inspired by CMD Irfan Razack and marshalled by his
brothers Rizwan Razack and Naaman Razack. As of
30th June 2020, the group has completed 247 projects
covering 134 million sft, and currently has 45 ongoing
projects covering over 53 million sft, 56 mn sft of
upcoming projects, and holds a land bank of 262 acres
with potential developable area of 27 mn sft. The
Market Capital of the company as on 30 June 2020 is
INR 84,021 Mn. The group’s turnover for the quarter
ended June 30, 2020 is INR 12,963 Mn.
Future Prospects: Over the last decade, the Prestige Group has firmly
established itself as one of the leading and most
successful developers of real estate in India by
imprinting its indelible mark across all asset classes,
with sales in excess of Rs. 5,000 Crore in the year
2020-21. Prestige Group has its presence across cities
such as Bangalore, Hyderabad, Chennai , Kochi, Goa
and Mangalore and will soon be launching in Mumbai
as well as Delhi-NCR

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 L&T Realty
Name: L&T Realty
Year of Establishment: It was established in 2011
Company Profile:  L&T Realty is the real estate arm of Larsen and
Toubro and a trendsetter amidst real estate developers
in India. ... L&T Realty is committed to creating
landmarks of excellence and providing customer
delight at every touch point, through design innovation
and operational excellence.
Future Prospects: L&T Realty has made its way to every major part of
the country with operations in Mumbai, Navi Mumbai,
Faridabad, Bengaluru, Hyderabad and Chennai. The
company is committed to building a better tomorrow,
whether it be a home, office or retail development.
With the mission of being innovative and constantly
attaining global benchmarks, L&T Realty is confident
of having its footprints all around the world in the
times to come.

 Unitech Limited:
Name: Unitech Limited
Year of Establishment: Unitech Limited was established in 1972 by a group of
engineers, initially as a consultancy firm for soil and
foundation engineering. In 1986, it set its eyes on the
real estate business in Gurgaon.
Company Profile: The Group's principal activities are the construction,
real estate development, consultancy in related areas,
hotels, electrical transmission and information
technology. The activities of the Construction segment
include highway projects, industrial projects and
overseas projects. Real estate development includes the
development of commercial as well as residential

13
 properties. The Group operates in India and exports
engineered construction products to the Middle East
Future Prospects: – Achieve high growth by establishing a pan India
presence
– focus on major economic centres
– Focus on profitable projects that maximize returns
– Undertake large mixed-use projects like integrated
townships in the suburbs of main cities.

GDP contribution by that sector:

The Indian Real estate industry is one of the largest sectors in the country. The contribution
of the real estate sector to India’s gross domestic product (GDP) has been estimated around
6.5 to 7 per cent and the segment is expected to generate millions of jobs.
The real estate sector’s contribution to the GDP is 7 percent now and it is expected to reach
10 percent by 2025. The sector in India is set to be valued at USD 1 trillion in the next few
years as the country aims at USD 5 trillion economy, he said at an interactive session with
Bharat Chamber of Commerce.

Some facts regarding that sector:

The real estate sector of India is quite vast and it attracts numerous consumers every year,
some look for buying themselves a home or an office, while others plan to invest in
different properties for financial stability in future. Today, we are going to list a few facts
about the real estate sector of India that will leave you amazed.

1. Second largest employer in the country:

The real estate sector in India is the second largest employer in the country, only after
agriculture. It will grow at the rate of 30% over the next decade. The residential real
estate sector alone makes up to contribute 5-6% to India’s total GDP.
2. Growing sector:

14
 The real estate market in India is a rapidly growing sector that is most likely to touch
$180 billion by 2020. From 2008-2020, India’s real estate market will grow at a
compound annual growth rate (CAGR) of 11.2%.
3. Seventh most expensive office market:
Connaught Place, which is the Central Business District in New Delhi, is the seventh
most expensive prime office market in the world. It has an annual occupancy cost of
$149.71 per sq. ft.
4. Most expensive home in the world:
Owned by business tycoon Mukesh Ambani, the 27-storeyed ‘Antilia’ is the world’s
most expensive home. It is the tallest independent residence in India that was built at a
cost of about $1 billion.
5. Huge residential colony:
Kankarbagh in Patna is one of the biggest residential colonies in Asia. It is spread
across an area of 900 acres.

Chapter 2 – Company Profile

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 Name and location of the company:
Name: Oberoi Realty Limited
Location: 3rd Floor, International Business Park, Oberoi Garden City, Off Western Express
Highway, Goregaon (East), Mumbai-400 063. India

Name location of other branches:

It operates in Chandigarh, Gurgaon, Ahmedabad, Kolkata, Nagpur, Mumbai, Pune,
Hyderabad, Mangalore, Noida, Bengaluru, Chennai and Kochi.

Year of establishment:
1998.

Brief history:
Oberoi Realty was incorporated as Kingston Properties Private Limited in 1998. Oberoi
Constructions Private Ltd. (OCPL) was incorporated under the Companies Act on 2
November 1993, in Mumbai.[6] OCPL is involved in the business of real estate
development and related activities and is a 100% subsidiary of Oberoi Realty Ltd. The
current name Oberoi Realty was adopted on 22 October 2009, to clarify the exact nature of
business and operations. Immediately thereafter, the company became a "Public Limited"
entity and consequently, the name was changed to Oberoi Realty Limited

Name of founders:
16
 Vikas Oberoi

Vision statements:
The vision of our company is an actionable, purpose-led ideal that has a real and significant
bearing on our deliveries and our conduct. We are committed to ensuring that our offerings
are revolutionary, ahead of the times, benchmarked against best global trends & practices
and built around our discerning customers' needs. We ensure that the ecosystem we operate
in, the society around and all people who experience, engage or align with any aspect of the
spaces we create, truly feel the differentiation and positive impact on quality of life.

Mission statements and Value statements:

In letter and spirit, our brand pillars stand at the very core of who we are and what we stand
for - not just in our deliveries but also in our everyday conduct. Our approach to work and
all interactions with customers, vendors, channel-partners, colleagues and society at large is
defined and enriched by our values

Value:
1) Quality
2) Passion for Innovation
3) Customer - Centricity
4) Integrity & Transparency
5) Teamwork
6) I Connect

17
 SWOT analysis of the company:
Strength:
1) Strong presence in Mumbai.
2) Established brand and reputation
3) Strong base of client in commercial.
4) Financial stability of tenants
5) Strong workforce

Weakness:
1) Volatility in prices of, or shortages of, key building materials
2) Largely depend on third parties, Joint ventures, Contractors on whom they have
limited control.

Opportunity:
1) Continuous focus on large development in Mumbai
2) Acquisition and Joint venture for sustainable development
3) For more growth in other metro cities in India.

Threats:
1) Extensive regulation includes various Environmental laws regulation, which may be
more stringent in near future
2) Constraint of fund
3) Changes to the FSI/TDR regime in Mumbai
4) Terrorist attacks which may affect the steady business development
5) Changing and downturn in Economic condition of the country

Any other specific detail:

Awards symbolize recognition and appreciation from the industry and peers. It is no
small achievement to win an enviable collection consistently, as we have done. Given
our commitment to creating the cutting-edge, Oberoi Realty has amply been recognized

18
 and awarded at some of the most prestigious award ceremonies in India and Abroad
within the real estate sector. To name a few:

A. Autodesk Imagine Awards 2021. In Category Industry Disruptor- Architecture,

Engineering & Construction Industry Segment in

B. INFHRA Workplace Excellence Award 2020 In Category Excellence in Innovation

and Technology, Excellence in Safety and Security

C. ET NOW Global Awards for Retail Excellence 2019 In Category Best Customer
Experience – shopping malls, Most Admired Shopping Centre of the Year-Retailers
Choice.

D. Hindustan Times-Real Estate Awards 2018 In Category Best Successor-Second

Generation Award, Esquire-Most Desirable Residences-Mumbai

E. Construction Week India 2017 In Category Real Estate company of the Year

F. Realty Plus Excellence Awards (west) 2016 In Category Residential Property of the
Year – Sky City.

G. Acetech Alpha 2015 , In Category Special Recognition Award for Innovation in Design

H. 7th Employer Branding 2014 , In CategoryManaging Health at Work’ at National Level

I. Guinness World Records Largest Vending Machine at Oberoi Mall - Hot Wheelz
Vending Machine

19
 Name and location of the company:
Name: Brigade enterprises ltd.
Location: 29th & 30th Floor,World Trade Center, Brigade Gateway Campus, 26/1, Dr
Rajkumar Road, Malleswaram-Rajajinagar, Bangalore-560 055, Karnataka, India.

Year of establishment:
1986

Brief history:
The Brigade Group is one of India’s leading property developers with over three decades of
expertise in building positive experiences for all stakeholders. Instituted in 1986, the
company has developed many landmark buildings and transformed the skyline of cities
across South India, namely – Bengaluru, Mysuru, Mangaluru, Chikmagalur, Hyderabad,
Chennai, Ahmedabad and Kochi with developments across the Residential, Commercial,
Retail, Hospitality and Education sectors. Since its inception, Brigade has completed 250+
buildings amounting to over 70 million sq. ft of developed space across a diverse real estate
portfolio.

Name of founders:
M R Jaishankar and Gita Shankar

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 Vision statements:
To be a World Class Organisation in our Products, Processes, People and Performance

Mission statements and Value statements:

To constantly endeavour to be the Preferred Developer of Residential, Commercial and
Hospitality spaces in the markets in which we operate, without compromising on our Core
Values, for the benefit of all our Stakeholders

Value:
1) QC-FIRST
2) Quality
3) Fair
4) Customer
5) Innovative
6) Responsible Socially
7) Trustworthy

SWOT analysis of the company:

Strength:
1) Track record of innovation .
2) Talent management 
3) Diverse Revenue models 
4) First mover advantage 
5) Strong brand recognition 
6) Wide geographic presence 

21
 Weakness:
1) Extra cost of building new supply chain and logistics network 
2) Niche markets and local monopolies 
3) Gross Margins and Operating Margins 
4) Declining per unit revenue for Brigade Enterprises 
5) . Declining market share 

Opportunity:
1) Rapid Expansion of Economy 
2) Accelerated technological innovations and advances 
3) Opportunities in Online Space 
4) Increasing government regulations 
5) Trend of customers migrating to higher end products 

Threats:
1) Competitive pressures 
2) Trade Relation between US and China
3) Saturation in urban market and stagnation in the rural markets
4) Changing political environment
5) Shortage of skilled human resources
6) Distrust of institutions

22
 Name and location of the company:
Name: OMAXE Limited
Location: Omaxe House, 7, LSC, Kalkaji, New Delhi - 110019 (India)

Name location of other branches:

It operates in Chandigarh, Faridabad, Indore, Greater Noida, Ludhiana, Noida, Lucknow,
Jaipur, Sonipat

Year of establishment:
1998.

Brief history:
Oberoi Realty was incorporated as Kingston Properties Private Limited in 1998. Oberoi
Constructions Private Ltd. (OCPL) was incorporated under the Companies Act on 2
November 1993, in Mumbai.[6] OCPL is involved in the business of real estate
development and related activities and is a 100% subsidiary of Oberoi Realty Ltd. The
current name Oberoi Realty was adopted on 22 October 2009, to clarify the exact nature of
business and operations. Immediately thereafter, the company became a "Public Limited"
entity and consequently, the name was changed to Oberoi Realty Limited

Name of founders:
23
 Vikas Oberoi

Vision statements:
The vision of our company is an actionable, purpose-led ideal that has a real and significant
bearing on our deliveries and our conduct. We are committed to ensuring that our offerings
are revolutionary, ahead of the times, benchmarked against best global trends & practices
and built around our discerning customers' needs. We ensure that the ecosystem we operate
in, the society around and all people who experience, engage or align with any aspect of the
spaces we create, truly feel the differentiation and positive impact on quality of life.

Mission statements and Value statements:

In letter and spirit, our brand pillars stand at the very core of who we are and what we stand
for - not just in our deliveries but also in our everyday conduct. Our approach to work and
all interactions with customers, vendors, channel-partners, colleagues and society at large is
defined and enriched by our values

Value:
7) Quality
8) Passion for Innovation
9) Customer - Centricity
10) Integrity & Transparency
11) Teamwork
12) I Connect

24
 SWOT analysis of the company:
Strength:
6) Strong presence in Mumbai.
7) Established brand and reputation
8) Strong base of client in commercial.
9) Financial stability of tenants
10) Strong workforce

Weakness:
3) Volatility in prices of, or shortages of, key building materials
4) Largely depend on third parties, Joint ventures, Contractors on whom they have
limited control.

Opportunity:
4) Continuous focus on large development in Mumbai
5) Acquisition and Joint venture for sustainable development
6) For more growth in other metro cities in India.

Threats:
6) Extensive regulation includes various Environmental laws regulation, which may be
more stringent in near future
7) Constraint of fund
8) Changes to the FSI/TDR regime in Mumbai
9) Terrorist attacks which may affect the steady business development
10) Changing and downturn in Economic condition of the country

Any other specific detail:

Awards symbolize recognition and appreciation from the industry and peers. It is no
small achievement to win an enviable collection consistently, as we have done. Given
our commitment to creating the cutting-edge, Oberoi Realty has amply been recognized

25
 and awarded at some of the most prestigious award ceremonies in India and Abroad
within the real estate sector. To name a few:

J. Autodesk Imagine Awards 2021. In Category Industry Disruptor- Architecture,

Engineering & Construction Industry Segment in

K. INFHRA Workplace Excellence Award 2020 In Category Excellence in Innovation

and Technology, Excellence in Safety and Security

L. ET NOW Global Awards for Retail Excellence 2019 In Category Best Customer
Experience – shopping malls, Most Admired Shopping Centre of the Year-Retailers
Choice.

M. Hindustan Times-Real Estate Awards 2018 In Category Best Successor-Second

Generation Award, Esquire-Most Desirable Residences-Mumbai

N. Construction Week India 2017 In Category Real Estate company of the Year

O. Realty Plus Excellence Awards (west) 2016 In Category Residential Property of the
Year – Sky City.

P. Acetech Alpha 2015 , In Category Special Recognition Award for Innovation in Design

Q. 7th Employer Branding 2014 , In CategoryManaging Health at Work’ at National Level

R. Guinness World Records Largest Vending Machine at Oberoi Mall - Hot Wheelz
Vending Machine

26
 Chapter 3 – Human Resource Development

27
 Recruitment and selection process:
Selection process:
The company conducts recruitment process every year to select new candidates. The
selection process of the company consists of 4 rounds. These rounds are as follows:
1. Written Exam
2. Design test and Essay Writing
3. Technical Interview
4. HR Interview

Recruitment Process:
The requirement of work force arises when a post gets vacant that happens due to
promotion and/or when an employee leaves the organization.
There are vacancies all-round the year:
In case it doesn’t have availability of human resources to meet the requirement, then it
contacts and takes help from the mother pool and in this way, requirement is met. Mother
pool is a database system where all resumes and work force is directed to the requirement.
In this procedure, semi-skilled employees can also be employed. In case of specializations,
outside advertisement and help is sought for.
1. Then it is announced through websites of Godrej to all of its Branch offices regarding
the vacancy, designation, work expected Out of them, minimum requirements of
applying, etc.
2. An outside applicant can also apply for the post.

28
 3. Employees in the other branches can also apply for change of Place or kind of work.
E.g., an employee working in Ahmadabad Branch as an account executive can apply in
Mumbai branch for Any post in only the next level, including he has capabilities.

Also, there is campus recruitment. Their campus recruitment Programme is geared towards
nurturing young talent and helps them Make a smooth transition from B-schools and
colleges to the work Place. Through the empowered internship programme as also the
Robust induction which involves stimulating assignments and myriad Projects across
functions and businesses, they provide challenging and Fulfilling career options to their
young leaders.

Number of employees:
Approximately 1,933 (1000-5000)

Training methodology/approach:
 Kaizen:
Kaizen is a Japanese word meaning continuous improvement. It’s made up of Two
characters in Japanese e: kai, which means ‘change,’ and zen, which means ‘good. ‘It’s
used to describe a company culture where everyone, from the CEO To the front desk clerk,
regularly evaluates his or her work and thinks of ways to improve it. The concept is that
small steps on a regular bas is will lead to large improvements over time.

Kaizen is a slow but ongoing process of improvement, not a ‘blitz’ or quickly Implemented
set of changes. The improvements are suggested by the person Doing the work, not an outs
ide evaluation team.

If a worker has a problem to Address or is considering whether a change will make sense,
he should pull in Several team members for a quick discuss ion and brainstorming session
and then decide what to do from there.

29
 One-point lessons:
One point less on (OPL) is a simple yet powerful operational tool used to educate operators
in an organization and improve product or service quality. The main point of learning for a
particular process is written in one to two sentences, accompanied by simplified but
explanatory diagrams. An ideal one-point lesson should be prepared within half an hour,
comprehended in 10 minutes and have 80% diagrams and 20% text.

 Overall equipment Effectiveness (OEE):

OEE (Overall Equipment Effectiveness) is a metric that identifies the Percentage of
planned production time that is truly productive. It was Developed to support TPM
initiatives by accurately tracking progress towards Achieving “perfect production”.
 An OEE score of 100% is perfect production.
 An OEE score of 85% is world class for discrete manufacturers.
 An OEE score of 60% is fairly typical for discrete manufacturers.
 An OEE score of 40% is not uncommon for manufacturers without TPM and/or lean
programs.

OEE is the ratio of Fully Productive Time to Planned Production Time.

OEE = (Good Count x Ideal Cycle Time) / Planned Production Time.

Specific HR policies:

Human Rights in the Workplace:

In our workplaces, Godrej prohibits the employment of individuals under the age of 18
years. We forbid the use of all forms of force in the workplace. Further we prohibit child,
adolescent, bonded or compulsory labour, including any form of human trafficking.

Our Approach to Human Rights:

30
 Our respect for and commitment to human rights is central to our values. We believe our
main Human rights responsibilities are to our employees, the communities where we
operate, Suppliers and business partners, and customers and consumers.
Our human rights policy is guided by international covenants such as the International Bill
of Human Rights (i.e., the Universal Declaration of Human Rights, the International
Covenant on Civil and Political Rights, and the International Covenant on Economic,
Social and Cultural Rights) and the International Labour Organization’s Declaration on
Fundamental Principles and Rights at Work.

We adhere to all applicable human rights laws wherever we operate. However, where those
Laws and international human rights standards vary, we follow the higher standard. Where
they Differ, we adhere to the law of the land while seeking ways to respect international
human rights to the greatest extent possible.

Our human rights policy, which consolidates our existing commitments, applies to all
Godrej Business units, the entities we own and the entities in which we own a majority
interest, and the Actions of any associated employees.

Across our diverse and extended supply chain, we make our human rights expectations and
Commitments clear to our suppliers, business partners and contractors, favour those that
have Similar policies and practices, and include relevant expectations in our contracts with
them. For Suppliers who do not have similar policies and practices, we encourage and
support them to do So, Active engagement and collaboration based on transparency,
corrective action and Continuous improvement are hallmarks of our approach.

Performance Appraisal process/structure:

The methods that forma part of the performance appraisal system in

GCPL are as follows:
A. Forced Distribution Method
B. Rating System

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 A. Forced Distribution Method:
This is a method of performance appraisal to rank employee but in order Of forced
distribution.
Advantage:
They force reluctant managers to make difficult decisions and identify The most and least
talented members of the work group.
Disadvantage:
They discourage collaboration and teamwork.

B. Rating system:
The ratings are given against commitments such as:
 Substantially falls short of expectation
 Almost meets expectation
 Meets expectation
 Exceeds expectation
 Substantially exceeds Expectation

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 Recruitment and selection process:
L&T’s campus recruitment teams visit India’s leading colleges, offering opportunities to
bright engineers. The selection process is rigorous and we look for candidates who match
L&T’s value system, have a strong knowledge base, and the skill to apply concepts. Above
all we look for commitment and a passion for excellence.

Number of employees:
Approximately 501-1000 employees

Training methodology/approach:
At L&T Learning & Development is a strategic business function contributing significantly
to organisational, group and individual effectiveness & growth by fostering a strong
learning culture.

We focus our energies on the following thrust areas:

 Deliver results and impact organisational performance.

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  Constantly scan the rapidly changing environment and equip employees at all
times with the required knowledge, skills and qualities
 Leadership development
 Develop corporate citizens
 Deliver a global MNC and global leaders
 Focus on action-oriented training
 Synergise & optimise efforts – avoiding overlap and duplication and build a
uniform curriculum.

A culture of continuous learning and development exists through structured core

developmental programmes, conducted by reputed institutions for employees to develop
superior management skills and capabilities. A host of strategic and behavioural programs
are also conducted to address specific training and developmental needs of employees.
Other initiatives include e-publications (Leadership Newsletter and HR Newsletter),
contests, book exhibition and guest lecture series where eminent speakers are invited.

A 'Seven-step Leadership Development' program has been customised to equip managers

with the required knowledge, skill & mind-set to transition seamlessly to the next level of
leadership and global entrepreneurship. The larger objective of the program is to build a
future-focused, resilient organisation with a pool of leaders ready to take over the reins of
leadership whenever the opportunity arises. In this effort, L&T has partnered with globally
renowned senior faculty and premier institutes.

A ‘Centre of Excellence’ for Improvement Initiatives with representation from Group

Companies and businesses focuses on specialised programmes such as Value Engineering,
Six Sigma, TQM, Kaizen, Theory of Constraints etc. A structured approach has been
initiated to develop a culture of coaching by programmes to develop a cadre of accredited
coaches.

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 Employee safety mechanism:

L&T is committed to providing a safe and healthy workplace across campuses and project
sites. It is our endeavour as an organisation to ensure that every task, job or assignment is
performed in a safe manner. Our safety systems are extended to contractors working at our
premises, and we encourage our suppliers to establish safety management at their premises.

The corporate Environment, Health and Safety (EHS) Policy demonstrates our commitment
to an accident-free workplace along with the management framework to be deployed across
businesses. To stay relevant, the policy is periodically reviewed by the senior management.

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 Specific HR policies:
In its HR, L&T complies with national legislation and collective bargaining agreements,
the international agreements of ILO, occupational safety regulations and other obligations.
Our working community upholds equality. We do not tolerate discrimination in any form.
Our HR management is fair and equitable.

Our employees have freedom to organise. We respect and deal openly with trade union
activities and personnel representatives.

The goals of our HR policy are:

 To ensure that employees have the competences required to implement our strategy
 To ensure that personnel headcount, quality and retention are high enough for
productive operations
 Maintain the work ability of employees during their entire working lives until the age
of retirement
 Spur employees to perform well on the job and motivate them to help us achieve the
company’s objectives

Implementation of the HR policy:

Supervisors are responsible for the practical implementation of the HR policy. All
employees are responsible for acting in accordance with the HR policy.

The personnel department produces, maintains and develops personnel administration

processes and services as well as supports the organisation in the implementation of the HR
policy.

36
 L&T’s HR Director is responsible for the HR policy. The contents are approved by the
Group Executive Board. This policy applies to the entire L&T Group.

L&T’s Group Executive Board approved and ratified this policy on 14 December 2012.

Performance Appraisal process:

The employee performance appraisal process is crucial for organizations to boost employee
Productivity and improve their outcomes. But although performance management is super
Important, it’s rarely put to good use. Many companies don’t put in their best effort to pick
the Best perfect performance appraisal method, which is why only 55 percent of employees
believe Theirs is effective.

Performance appraisals are an annual process that involves evaluating employee’s

performance and productivity against the pre-determined set of objectives for that year. It
also helps to Evaluate employee s skills, strength and shortcomings. The results of this
performance appraisal Process determine the employees wage raise and promotion.
The topic “Performance appraisal in Larsen &Turbos” was chosen with an aim to identify
the Performance appraisal process followed in one of the largest construction companies in
India.

The research would help in analysing the various performance appraisal problems in
company Like biasing etc.

The study will also lead to analysing the effectiveness of the performance appraisal process
in Identifying and bringing out the core competencies and role clarity in the employee.
The research is meant to finally give recommendations and insights for the betterment of
the Performance evaluation in the company.

Wages & Salary administration:

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 We reward our personnel for good job performance. Remuneration is appropriate and as
transparent as possible. Remuneration aims to encourage good performance and motivate
employees to engage in long-term work to help us achieve our strategic objectives.

In Finland, our salary system is based on job requirements and personal performance,
which are affected by the information and skills required in the position and compliance
with our operating principles. Employees have the right to receive constant feedback.
Feedback is encouraged at all levels of the organisation.

The average L&T Realty salary ranges from approximately ₹5 Lakhs per year for a Sales
Executive to ₹ 31.8 Lakhs per year for a Deputy General Manager. … For Sales Executive
the minimum salary is ₹5 Lakhs per year, for Senior Executive the minimum salary is ₹5.9
Lakhs per year and so on.

Industrial Relations practice:

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 People are central to L&T’s activities, achievements and the value it delivers to its
stakeholders. The zeal, dedication and expertise of its people powers L&T’s growth and
prospects.

We are a meritocracy and strive for diversity in nationality, caste, age, physical ability and
religion; and believe in equal career opportunities for all. The male to female remuneration
ratio is at 1:1.

With over 55% of the workforce below the age of 30, L&T is a young engineering
conglomerate. We stimulate and leverage this young intellectual capital by offering a
healthy mix of opportunity, responsibility, growth and purpose. Our integrated talent
management framework is established on a robust model that enhances employee
capabilities and nurtures both professional and behavioural competencies. Our work culture
empowers individuals with the freedom to think beyond the conventional, innovate out of
the box and raise performance levels.

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 Recruitment and selection process:

Indiabulls look for the people with the progressive career and who are ready to face the
challenges ahead. People should be well in their respective fields with the complete
knowledge and skills required. The Placement at Indiabulls is covered by the two processes
of the recruitment which are- Written Test, Interview

The Indiabulls Recruitment Procedure get start with the written test in which a total of 55
questions will be asked. Out of 55, 35 questions will be from aptitude and rest 20 questions
will be from your specific branch subjects. The written test will include questions from
both fields i.e., Aptitude and Technical.

40
 The interview questions will include the questions mainly from your resume about the
things you have mentioned in it. The candidate has to give above three tests including the
Interview to get the final selection from the company.

Number of employees:
Approximately 1001-5000 employees.

Training methodology/approach:

Development of Employees:
The Company believes in the all-round development of its employees. Job specific
knowledge gaps, skills and attitudes Are identified during the performance appraisal
process. Through constant learning and development, the Company Ensures that its
employees are adequately trained in functional and behavioural skills to sustain high
standards of Service. The Company nominates its employees for self-development and
leadership programmes for further enhancing Their competencies and skill sets.

Learning and development needs are also identified on the basis of internal audit reports as
well as customer feedback. On-the-job training, job rotation or training through various
programmes – internal, external are offered to employees To upgrade their competencies.

During the year, at group level, a total of 125 permanent employees were imparted training,
which is 11% of the Company’s total permanent employees, out of which 15 women
employees were imparted training during the year, Which is 13% of the Company’s total
women employees.

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 Specific HR policies:

The Company complies and adheres to all the human rights laws and guidelines of the
Constitution of India, national Laws and policies. The Company treats all its stakeholders
and customers with dignity, respect and due understanding. The Company takes care to be
just, patient and understanding while dealing with delinquent customers. The Company has
put in place an internal culture work ethics where delinquent customers are treated with
fairness. Customers who Have difficulty in making regular payments are counselled
patiently and given sufficient opportunities to recover from Difficulties. Employee training
programmes lay emphasis on this aspect. Any complaints and grievances pertaining to
Behavioural issues are attended to personally by senior officers.

Wages & Salary administration:

The Remuneration Policy of Indiabulls Real Estate Limited is designed to Attract, motivate
and retain employees in a competitive market. The policy reflects the Company’s
Objectives for good corporate governance as well as sustained long-term value creation for
Shareholders. The Company hires the best talent, both fresh as well as with requisite
experience, and pays market related competitive remuneration. The compensation includes
fixed salary as Well as ESOPs (to deserving employees) as part of the overall incentive
structure. In order to Attract and retain the talented human resources, we have to follow the
compensation norms Prevalent in the real estate sector. However, care is taken that there is
an ongoing review of the Performance at all levels, and salary and perquisites are
accordingly adjusted after due evaluation.

Board of Directors: Members of the Board of Directors shall receive a fixed payment in
accordance with the decision At the Annual General Meeting of the Company.

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 Executive Remuneration:
Executive remuneration is proposed by the Company’s Remuneration Committee and
Subsequently approved by the Board of Directors. Senior Executive remuneration is
evaluated Annually against individual performance and financial performance of the
Company and market Scenario.
Total remuneration shall comprise of the following components:
 A fixed base salary, set at a level aimed at attracting and retaining executives with
professional and personal competencies required to drive the Company’s performance.
 Variable Component, based on the achievement of a number of individual, pre-defined
financial and strategic business/non-business targets.
 Long-term incentives in the form of stock options, promoting a balance between short-
term Achievements and long-term thinking. The Company’s stock option program is as
per separate ESOP schemes of the Company.

Other Employees:
The Remuneration of other employees is fixed from time to time as per industry standards
and Cost of living. In addition to a basic salary, they are provided with allowances and
perquisites as Per schemes of the Company and statutory requirements and business
requirements.

Grievances handling procedure:

The Company believes in smooth and effective communication to ensure better flow of
information and understanding Amongst its employees. Any employee, irrespective of
hierarchy, has free access to the members of senior management for sharing creative ideas,
suggestions or even personal grievances.

The Company has strengthened its vigil mechanism by adopting the Whistle Blower Policy
which is applicable to its directors, employees and other stakeholders. The said policy
which has been uploaded on Company’s website and also communicated to all its
employees aims to promote good governance, in still faith and empower all stakeholders to

43
 fearlessly voice their concerns. The Company aims to reduce the number of grievances,
attain operational excellence and ensure continuous improvement by Doing periodical root-
cause analysis (RCA) of all the received grievances.

Strategic HRM:

The Company’s businesses are managed by a team of competent and passionate leaders,
capable of enhancing your Company’s Standing in the competitive market. The Company’s
employees have a defining role in significantly accelerating its growth and Transformation.
In addition, Employee Stock Option Schemes ensures the employee participation in the
growth and progress Of the Company. As on March 31, 2020, the Company had a strong
team of 846 employees at group level, who are aligned and Dedicated towards the
Company’s goal. The belief “great people create great organization” has been at the core of
the Company’s Approach to its people.

Corporate Social Responsibility CSR:

44
 Chapter 4 – Brief Information

45
 Finance Department:
Godrej’s lasting legacy over the years with locks, soaps, and homes – to name a few, is
second to none. From this proud legacy, stems an opportunity to build something exciting
once again. Introducing Godrej Housing Finance- where we aim to finance home loans that
understand what’s important to you. This a company that is deeply rooted in the values of
making you, our customers, realize your dreams.
Zero touch home loans:
Godrej Housing Finance understand that your safety and convenience are really important.
That's why we've made our home loan process completely contact-free with features like:
E-sig and Document delivery & pickup service.
Products:
Home loans, Loans Against Property, Balance Transfer and Plot loans.

Marketing Department:
Godrej has been in business for a large period of time and therefore developed a lot of
experience. This experience favours such a brand to develop unique strategies for the
marketing of its products. Some of the reasons that can be cited for its success are:
1. Analysing The Target Market
2. Segmenting, targeting and positioning
3. Distribution
4. Brand equity

46
 5. Competitive Analysis
6. Customer Analysis
7. High Quality Products
8. Promotion

Production / Operations Department:

Company has,
 43 manufacturing locations across the country,
 Ownership pattern: 4 - owned and 39 - third-party (outsourcing),
 Geographical spread: North (8), South (12), East (5), West (18),
 Approx. 22% of its total feed production is manufactured through owned facilities
while the balance 78% is through third-party. Production capacity of 100,000 MT of
mash and 70,000 MT of pellets per month.
 GFFL has established a state-of-the-art R&D centre in Bangalore the
Animal Nutrition Innovation Centre dedicated for development of
animal feed products.

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 Finance Department:
L&T Financial Services offers developers requisite funds for their proposed or ongoing
construction projects across the life cycle of project development. We partner with
developers & builders to support end to end project requirements of Residential and
Commercial projects.
We believe in establishing long term relationship with developers and our philosophy is
to partner developer group through networking model in catering to their project needs on a
continual basis.
Product offering:
We offer financial assistance for Residential & Commercial Office Projects during their
entire project lifecycle that includes Pre construction finance, Construction
Finance, Refinance, Inventory Funding and Lease Rental Discounting.
The Real Estate team at LTFS brings together rich experience from the domains of
real estate, finance and banking.

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Marketing Department:
 Product Mix of L&T:
L&T provides numerous offerings and is a leader in almost every business across the
industries it operates in. Following are its products and services:
L&T Construction encompasses multiple businesses which includes:
Buildings & Factories, Transport Infrastructure, Heavy Civil Infrastructure, Smart World &
Communication, Water & Renewable Energy.
L&T offers solutions to industries like the oil and gas sector, defence spectrum, real estate,
warships and global IT services and solutions to the companies spread geographically.

 Place Mix of L&T:

Larsen & Toubro is a respected and well-known company. It has its presence across the
globe. The company operates in Southern and Western India for constructing commercial

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 and residential properties. Its InfoTech company has around 39 registered offices in 23
countries.
L&T provides its Technology Services in the following different countries:
India, USA, Canada, Belgium, Denmark and 25 others locations.
The company has an intensive supply chain that manages its projects in India as well as in
other countries. It has distributors across India which makes its machinery and industrial
products available and accessible. L&T’s IT services company has 32 delivery centres
worldwide, the business is expanding into new geographies even as it consolidates its
client-facing organization in North America and Europe.

 Price Mix of L&T:

L&T uses a penetration-pricing strategy (in this a company lowers the price in the initial
stage to attract more customers) to expand in new markets. It bids for tenders as per market
conditions. The company also follows a fair pricing policy and a competitive pricing
strategy to maintain its customer loyalty which would result in keeping a strong customer
base worldwide and keeping competitors away. The economy and the environmental
factors also play a major role in its decisions related to price.

 Promotion Mix of L&T:

Larsen and Toubro create brand awareness through their comprehensive marketing
strategy. The company advertises using a different mode of advertisement like:
Television, Magazines, Newspapers, Billboards, social media,

This gives us an insight as to how Larsen & Toubro prices its products & services in its
marketing mix.

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 Finance Department:
India bulls Housing Finance Ltd. (IBHFL) is India’s third largest housing finance
company, regulated by the National Housing Bank (NHB). IBHFL is rated ‘AA’ by leading
rating agencies including CRISIL and ICRA. The company has a balance sheet size of ₹
0.96 trillion as on 30th September, 2020. The company has serviced more than 1 million
happy customers and cumulatively disbursed loans of over ₹ 2.77 trillion. It is has a strong
nationwide presence and continues to reach out further with eHome Loans – India’s first
completely online home loan fulfilment platform.
IBHFL offers quick, convenient and competitively priced home loans in the affordable
housing segment. The company’s primary goal is to ensure a superior home buying
experience to its customers and to make housing finance more affordable and viable by
contributing to the ecosystem that supports it.

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 Production / Operations Department:
India bulls Real Estate Ltd, is a large publicly listed real estate company, with a well-
diversified presence in residential. real estate development across the price spectrum, from
mid-income to premium to the super luxury space. Geographically, the
Company’s strategic focus is in key markets of Mumbai Metropolitan Region and the
National Capital Region. The Company has a track record of one of the fastest and largest
delivery in value terms, and enjoys high confidence of the investors and customers in view
of its execution and quality delivery.
Business Achievements & Operational Highlights:
 Total Collections (Net of refunds) for FY 19-20 is ₹ 3,547 Cr.
 Rating agency has assigned Long-term rating of “AA-” and Short-term rating of
“A1+”.
 Company has Completed/near completion Inventory of ₹ 2,930 Cr., and changing
buyer preference towards completed inventory with OC provides a distinct advantage
to the Company.
 All Residential projects (Ongoing, Completed and Planned) to generate a cumulative
net surplus of ₹ 10,700 Cr.

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 Chapter 5 – Conclusion

53
 It is really great experience working on this report. Earlier, I couldn’t able to understand the
terms of Real Estate but now I can understand them a little bit.

Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense,
paid for in full, and managed with reasonable care, it is about the safest investment in the
world.

Godrej Properties Limited, L&T Realty and Indiabulls Real Estate all three real estate sector
company ensures a safe, conducive and productive work environment across its business
operations. Companies have a major transformation in the recruiting, onboarding, training and
engaging with employees. Three different companies have different techniques and approach
for training and recruiting process. But this companies’ main goal is continuing to attract and
retain talent that focuses on sustained superior performance, provide them opportunities to
learn, realize their true potential and contribute positively to the success of the Company.

As per my point of view, all three companies are good to do work with. Because, all
companies have proper HRD mechanisms, they all do great work and contributed for CSR
activities. Their financial, marketing and production/operational department strategies are
very tactful. They are prepared for the upcoming challenges.

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