Brigade Group Founder speaks to SOM
Mysore :
Brigade Group, unlike most developers from Bangalore, has not ignored Mysore and has had a number of projects in the city. M.R. Jaishankar, Founder and CMD of Brigade Group, spoke to SOM during his visit to city recently to inaugurate the Company’s latest project.
by S.N. Venkatnag Sobers
Having come from a family of coffee growers in Chikmagalur, M.R. Jaishankar completed his degree in Agricultural Science from the University of Agricultural Sciences, Bangalore and then secured an MBA degree from the University of Mysore. He worked as a management trainee at the UB-MEC Batteries after which he started his own company MLR Industries in 1980. The company manufactured Chicory. MLR industries, under the leadership of Jaishankar, went on to become the largest supplier of Chicory to Brooke Bond India Limited.
In 1984, Jaishankar decided to diversify into real estate and launched his construction company ‘Brigade Enterprises Limited’ with a grand construction of Brigade Towers during October 1986, which at that time was the tallest building constructed by a private developer.
When asked why he chose the construction business, he says because it was viable.
“Any business is 80 percent common sense coupled with hard work and good use of opportunities. Right decisions at right time in the interest of the company with no selfish motive will always help in the growth of a business”, says Jaishankar.
He then adds, “Though we had a presence in Mysore, here too we have become the first company to build the tallest apartment complex Brigade Horizon.”
Sharing his idea on housing for the middle-class sector, Jaishankar said that the prices of land have gone up which has resulted in rise in prices of the apartments. “The Government should come forward and provide lands at a cheaper rate so that the private developers come forward to construct affordable houses”, he added.
KPL and Brigade Group
Brigade Group was one of the Karnataka Premier League (KPL) franchise owners, Bangalore Brigadiers. The franchise was bought for a whopping USD 1.1 million. Though, first two seasons were conducted in 2009 and 2010, the tournament has not been conducted since 2011 owing to misunderstanding with KSCA authorities.
Sharing his experience on KPL, Jaishankar said “from the beginning itself KPL was a badly conducted tournament.” He then added, “Even the present committee too did not take much interest in solving the issued related to KPL.”
When asked whether Brigade Group would still want to be a part of KPL, Jaishankar mentioned that it depended on the planning and handling of the tournament. He said that the tournament should be conducted with a good intention.
“We have an open mind. But, everything depends on what the KSCA offers to the franchise and promotions on the tournament”, said Jaishankar.
Speaking of his company’s plans for Mysore, Jaishankar said that they are also coming up with two luxury hotels — one on New Sayyaji Rao Road with 150 rooms and other on KRS Road. This apart, the group is also coming up with another apartment project on Nanjangud Road shortly.
source: http://www.starofmysore.com / Star of Mysore / Home> Feature Articles / by S. N. Venkatnag Sobers / September 13th, 2013