Summer Internship Report

On

Future Prospects of Omaxe in Indore

ByAnkush Tripathi

A0102209291MBA Class of 2009-2011

Under the Supervision ofMs. Sonia Singh

LecturerDepartment of Economics

In Partial Fulfillment of Award of Master of Business Administration

AMITY BUSINESS SCHOOLAMITY UNIVERSITY UTTAR PRADESH

SECTOR 125, NOIDA - 201303, UTTAR PRADESH, INDIA

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DECLARATION

I, Ankush Tripathi student of Masters of Business Administration from Amity Business School, Amity University Uttar Pradesh hereby declare that I have completed Summer Internship on “Future Prospects of Omaxe in Indore” as part of the course requirement .

I further declare that the information presented in this project is true and original to the best of my knowledge.

Date:/ /10 Ankush Tripathi

Enroll. No: A0102209291

Place: Noida MBA Class of 2011

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CERTIFICATE

This is to certify that Mr. Ankush Tripathi, a student of Post Graduate in Business

Management at ABS has worked in the Omaxe limited, Indore under the guidance and

supervision of Mr. Sanjay Gupta, Regional head, Omaxe Indore. The period for which he was on training was for 8 weeks, starting from 2nd May 2010 to 16th June 2010. This Summer Internship report has the requisite standard for the partial fulfillment of the MBA. To the best of our knowledge, no part of this report has been reproduced from any other report and the contents are based on original research.

Signature Signature

Ms. Sanjay GuptaAnkush Tripathi (Industrial Guide) (Student)

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AMITY UNIVERSITY UTTAR PRADESH

AMITY BUSINESS SCHOOL

CERTIFICATE

I hereby certify that Ankush Tripathi student of Masters of Business Administration at Amity

Business School, Amity University Uttar Pradesh has completed Summer Internship on “Future Prospects of Omaxe in Indore”, under my guidance.

Ms. Sonia Singh

Lecturer

Department of Economics

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ACKNOWLEDGEMENT

It takes immense pleasure for me to express my sincere gratitude to all the helping hands who

have guided me in the completion of this project. It was a great learning experience for me to

work on my project for two months in such a charged and highly motivated organization. As a

student of Amity for Management Studies, I got an opportunity for doing my summer internship

in Omaxe Ltd. I would like to thank ABS, Noida, for giving me the platform to work with one of

the most renowned organizations.

I would like to express my deep gratitude to Omaxe Limited, for giving me the opportunity to

hone my skills and learning through a practical approach with this Summer Internship Project. I

would like to give my regards to Mr. Sanjay Gupta, Regional head (Indore), my mentor and a

continuous source of inspiration during these two months. Without him this project could never

be succeeded. His guidance and vision helped us in exploring different ways to complete this

challenging task.

I am deeply indebted to my faculty guide Ms. Sonia Singh, who has supported me immensely

throughout the project through discussions and by always showing me the right course to pursue.

The information and suggestions provided by her proved to be most valuable.

Ankush TripathiEnrollment Number: - A0102209291

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Brief Contents:-

Chapter 1:- Introduction

1. Real estate in India

2. Real estate in Indore

3. Omaxe ltd.

4. Omaxe in Indore

5. Advisement done by Omaxe in Indore

6. SWOT Analysis

Chapter 2:- Competitor of Omaxe in Indore

1. Dlf-Gardencity

2. Vistara

3. Apollo DB

4. Sahara City

5. Parsvnath

6. Malwa County

7. Amrapali

8. Emaar MGF

9. Other Real Estate’s

Chapter 3:-Research and Data Analysis

1. Research Design2. Data collected from broker3. Data collected from different real estate’s

Chapter 4:-Future Scope of Omaxe in Indore

1. Future Advisement2. Future Broker’s3. Future Prospect and Future Construction

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Chapter 5:-Recommendation and conclusion

1. Recommendation2. Conclusion

Bibliography

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Real estate in India

The Indian real estate sector plays a significant role in the country's economy. The real estate sector is second only to agriculture in terms of employment generation and contributes heavily towards the gross domestic product (GDP).Almost five percent of the country GDP is contributed to by the housing sector. In the next five years, this contribution to the GDP is expected to rise to 6 per cent.India is conspicuous by the immense potential that is beingrealized today. Rental values in cities like Delhi and outskirts are witnessing an increase of 20-25%.Real estate agents are devoting themselves to negotiations for rented homes than ever. Though theinterest rates on home loans, continued tax exemptions on such prompts people to buy property, thosewith the ability to buy a flat among the middle-class are thinking twice.

In residential segment, the capital value or cost of flats has almost doubled in cities likeGurgaon where prices went up to Rs. 45 lakhs from Rs. 15 lakhs a couple of years back. The demandfor more capital appreciation in the wake of rising prices coupled with home loan rate hike hasdampened the buying spirit. This has in ways propelled demand for rental property in India. Increaseddemand for independent houses or paying guests occurs mainly in the metros like Delhi, Gurgaon, andMumbai etc. where the corporate sectors rent independent houses for their senior executives. A payingguest or PG accommodation in India is a convenient arrangement. Even PG hostels and workingwomen’s hostels, are considered safe and can be availed of on an individual or sharing basis mean bigbusiness.

The real estate rental trends in commercial sector are momentous as the key tendency amongthe investors is to rent a commercial space instead of buying. It will facilitate low risk and less worryon maintenance. Commercial rentals including corporate office space, BPO spaces, mall space, shopsand showrooms are an integral part of the commercial rentals in India. Buying good space in high-quality development and leasing it to a good brand is a wise investment decision. Usually, commerciallease agreements specify a 15% escalation in the real estate rental in every three years which is a goodenough yield. For those considering regular rental returns rather than capital appreciation, mall space has the distinction to be an excellent option. It gives returns higher than that received with office space and much higher than the rental returns from residential space.

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At now real estate market in India is at growth stage.

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Real estate in Indore

Though traditionally Indore has been a hub for automobile, alloy steel industry and textiles with home tomajor companies like Hindustan Motors, Eicher Motors, Bajaj, Nicholas Piramal and a hub for soya beancultivation and processing, it is fast becoming the place to be for education and for work for the smallertowns in MP. But after 2006 when Omaxe,Sahara, DLF, Apollo DB and many big name enter in the city, the face of the Indore changes. Recent years have seen a growth in demand forapartments, partly because of rising aspirations of thepopulace and also due to a 47 per cent increase inpopulation in a decade. Now Indore is also known for township hub of M.P, there is many big names as well as small builder are also there in Indore such as Shalimar, Mid-Town, Mount-bug Etc. Now Investor from all over the India want to invest in Indore and the price of real estate is also increasing like omaxe start from Rs. 450 now Rs. 850 (per square feet).

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At now the real estate market in Indore is at growth stage.

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Omaxe ltd.

Established in 1987 by Mr. Rohtas Goel as Omaxe Builders to undertake civil construction and contracting business, the company was renamed as Omaxe Limited, to reflect the subsequent change in ownership pattern and diversification of business into real estate development. After making its foray into real estate in 2001, Omaxe Limited has emerged as one of the prominent Indian real estate companies, piggybacking on the demand for world-class housing and business complexes. In a short span of five years, Omaxe Group has carved a niche for itself for providing high-quality residential and commercial real estate solutions across NCR of Delhi now in different part of India that offer value for money to customers.

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Omaxe in Indore

In year 2006 Omaxe started there project in Indore (Omaxe City at 110 acres) then in year 2008 now its total size is 400 acres (approx.) they started second project Omaxe City 2 at 89 acres and then again in 2008-09 omaxe launch there third project in Indore “Omaxe Hills” 90 acres in starting phase.

In Omaxe-City, the company is having product mix from Plot to flats Omaxe is having all the products.

Omaxe-City: - The Company is having plots from 7534 Sq. feet to 775 sq. feet. This is initially sold at Rs. 450 now at Rs. 850 (psf). In Omaxe-1 Company are having multiple productslike Row House, Flats, plots.

The first phase of Omaxe-City is almost fully sold out and about the second phase company launch’s the flats which are selling at rapid pace. And recently company launches the project of 250 acres.

Omaxe-City is 5 km from main city and about 8 km from the Indore railway-station. Omaxe-City is the first township in Indore.

Omaxe City 2:-

Omaxe City 2 is just 3 km from Omaxe-1 having only plots which is having 7530 sq. ft. to 968 sq. ft. at Rs. 650

Omaxe City 2 is about 11 km from Indore railway station.

Omaxe 3:-

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Omaxe-3 is having multiple products from build-up to plot, Omaxe-3 or Omaxe-hills is doing well in the market and challenging its competitor very well. The market share of omaxe increases day by day, now current price of omaxe-hills is Rs. 800(psf).

Omaxe launches omaxe-hills in year-2009.

Distance from Indore city: - 3km

Distance from Railway station: - 8km

Distance from Omaxe City-1:- 10km

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The Boston Consulting Group (BCG) Matrix is a simple tool to assess a company’s position in terms of its product range. It helps a company think about its products and services and make decisions about which it should keep, which it should let go and which it should invest in further.

Star: - High market share and high growth rate.

Question marks: - Low Market share but high growth rate.

Cash cow: - High Market share but low growth rate.

Dogs: - Low market share as well as low growth rate.

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According to this BCG MATRIX Omaxe City is STAR because of its first move advantage and increasing market share and high growth rate, for Omaxe the Omaxe City is STAR performer.The Omaxe launches the Omaxe city in 2006 and it’s a first township on AB road (Indore) so Omaxe City gets first mover advantage in Indore.

Omaxe City-2 is DOGS according to the BCG MATRIX because the growth rate is low and market share of this is low as compare to other township on that road.

Omaxe Hills is Question mark because its market share is low but its growth rate is high. Omaxe launch Omaxe Hills in 2009 which is too late, therefore its market share is low but growth rate of Omaxe Hills is high.Omaxe Hills launches in 2009 which is too late because of many big townships alreadyestablish in Indore city but still the growth rate of Omaxe Hills is high due to the name of Omaxe LMT.

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Advisement done by Omaxe in Indore

Omaxe mostly did advisement through hoarding. Omaxe sponsor some T-20 inter state competition and some stage shows and Omaxe gives some advertisement on CNBC and on NDTV. Omaxe doesn’t do aggressive advisement in Indore.

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SWOT Analysis

S: - StrengthW: - WeaknessO: - OpportunityT: - Threats

Strength:-

1. Omaxe City is having first mover advantage in Indore.2. Omaxe is having big brand name.3. Omaxe is having multiple products like plot, row house, flats.4. Omaxe is having a product for all classes from low class to higher class.5. Omaxe is also havinga mid Rise apartment for the people having a low budget.6. Omaxe is having over 500 acres of land in Indore.7. Omaxe can offer discount up to 2-3% which is very rare in real estate market.8. The marketing team of Omaxe is very efficient.9. The Township is duly approved by Town & Country Planning, Madhya Pradesh.10. Omaxe City is just 5 km from the main city and nearest to the city.11. Living in complete harmony with Nature in Omaxe City.

Weakness:-

1. Omaxe City-2 cant able to make big profit due to its distance and Omaxe City -1 cutting the market share of Omaxe City-2

2. Omaxe City-2 is in loss due to DLF biggest competitor of Omaxe City-2.

3. Omaxe city-2 is having bad impression in city.

4. Omaxe doesn’t concentrate on small brokers which can provide them a big market.

5. Omaxe don’t do aggressive marketing to increase its market share.

6. Omaxe advisement is up to Indore only; they have to target people from Bhopal also, where there is a big potential market.

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Opportunity:-

1. Bhopal can be a big potential market for the company.

2. Target small brokers they can also provide big market to the company.

3. Omaxe have to do aggressive marketing.

Threads:-

1. Competitor is the biggest thread for Omaxe.

2. Word-of-mouth plays very important role in real estate.

3. Competitors give more brokerage to brokers.

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Chapter-2

Competitor of Omaxe in Indore

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DLF-Gardencity

DLF one of the biggest real estate of India, launches its Gardencity project in the year 2007. According to DLF Gardencity:- The best way to understand nature is to make it a part of your life. DLF well & truly brings this sentiment to Gardencity, where you live amidst nature and enjoy a contemporary lifestyle. A Gardencity 82 acre of pollution-free environs gives the residents a perfect answer to beat their stressful lifestyle. The township has been aesthetically designed by Hafeez Contractor while the landscapes are beautified by a renowned Singapore based consultant. With theme gardens, Gardencity brings you a step closer to nature. With a Club, School, Shopping Mall and a well-equipped Healthcare Center within the vicinity, DLF fulfills its promise of bringing world-class lifestyle to Indore.

DLF-GARDENCITY:-

Plot size(sqft)

Price(psf) Row-house(sqft)

Build-up area

Price(psf) Distance from Omaxe-1

Distance from Indore city

Distance from Railway station

3600 Rs. 870 1400 2160 Rs. 1850 3 km 8 km 13 km2700 Rs. 870 1200 1875 Rs. 1850

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Suncity-Vistara

Suncity is one of the fast developing real estate of India, having number of project in India. In Indore Suncity launches its project as “VISTARA”. According to Vistara:- "VISTARA" an ultra modern integrated township, beautifully designed and developed across 150 acre approx. prime land is to bring a Metropolitan Lifestyle to its residents. The magnanimous township Vistara has been designed with facilitation of all modern amenities with outstanding world class features encompassing long connecting green parks, exotic landscape, well lit wide roads, 3 tier security, shopping complex, school, community Centre, medical facilities, play areas etc. So when you move here, you move in to a world of comfort, luxury and peace, a world where you can stop worrying about daily problems and start concentrating on living life at your terms.

Vistara:-

Plot Size(sqft)

Price(psf) Row-house(BHK)

Build-up area(sqft)

Price(psf) Distance from Omaxe-1

Distance from Indore

Distance from railway station

5425 Rs. 700 5 BHK 3292 Rs. 1899 3 km 6 km 13 km3875 Rs. 700 4 BHK 3132 Rs. 19002964 Rs. 700 3 BHK 2295 Rs. 18082691 Rs. 700 3 BHK 1877 Rs. 18112153 Rs. 7001453 Rs. 700

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Apollo DB

Apollo DB is the product of denik bhaskar renowned news paper of India and renowned real estate group APOLLO CREATIONS. According to Apollo DB:-

This township has been designed with facilitation of all modern amenities with wide roads, 3 tier security, shopping complex, school, community Centre, medical facilities play areas and land scalped parks etc. across 30 acres

Apollo DB:-

Flat (BHK) Area (sqft) Price(psf) Distance from Omaxe-1

Distance from Indore City

Distance from railway station

3 BHK,1-5th floor, Luxury

2525 Rs. 2300 6 km In city 8 km

3 BHK, 6-10th floor, Luxury

2525 Rs. 2350

4 BHK, 11-14th duplex, Luxury

5625 Rs. 2400

3 BHK 1890 Rs. 21503 BHK 1505 Rs. 21503 BHK 1495 Rs. 21502 BHK 1335 Rs. 21502 BHK 1300 Rs. 21502 BHK 1130 Rs. 21501 BHK 705 Rs. 21501BHK 695 Rs. 2150

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SAHARA CITY

Sahara Parivaar one of the biggest Parivaar in India and Sahara City is emerging township in Indore, since year 2000 and it is an oldest township of Indore and they targeted people of premium class only. This township is spread in 88 acres.The key features of Sahara City are:- 1. The name of Sahara.2. Target only premium class customer.3. Sale Build-up unit only4. 100% power back-up and best security.5. All basic Amenities.

Distance:-

1. Distance from Main City :- 8.0km

2. Distance from Railway Station:- 7.5km

3. Distance from Airport:- 13km

4. Distance from Bus Station:- 7.0km

5. Distance from Omaxe-1:- 10km

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Sahara City:-

Flat (BHK) Area(sqft) Price (Rs. lacs)

Row House Area (sqft) Price (Rs. lacs)

1BHK, Type- A 712.85 16.94 Independent Row House

1823.92 86.92

Penthouse,2BHK,Type-B

1158.03 38.75 Independent Semi Detached House

3150.67 141.58

2BHK+Terrace, Type-B

954.73 32.00 Independent Bungalows

4263.31 227.14

2BHK,Type-B 954.73 23.40Penthouse,3BHK,Type-C

1861.39 65.64

Penthouse,3BHK,9th floor, Type-C

1256.17 39.60

3BHK,Type-C 1455.25 35.67

3BHK,Type-C 1268.73 32.05

3BHK,Type-C 1256.17 31.73

2BHK,Type-C 939.38 23.02

4BHK,Duplex,Type-D

2613.74 77.40

4BHK, Duplex,Type-D

2307.82 63.95

4BHK, Duplex,Type-D

2347.65 64.08

4BHK, Duplex,Type-D

2357.04 64.13

3BHK, Duplex,Type-D

2063.79 55.15

3BHK, Duplex,Type-D

1966.08 52.58

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Parsvnath City

Parsvnath one of the biggest real estate in India, they are in Indore since 2007; spread over 250 acres of area. According to Parsvnath City:-

Parsvnath City will be a state-of-the-art township with world class features and modern infrastructure.It will offer optimum solitude and luxurious lifestyle to its residents who are inclined to communicate with global lifestyle.

Parsvnath City, Indore will deliver indulgence and freedom accompanied with comprehensive facilities. It is being developed with best of contemporary infrastructural facilities. Rejuvenate your life with the most modern facilities that are all destined to match your ideals of living and expectations from life.

1. Sector-wise Township

2. Roads with high quality riding surfaces

3. Underground optical fiber cables

4. Ducts for cabling

5. Solid waste management

6. Well lit, wide metaled circular roads

Parsvnath City, Indore will offer a distinctive convergence of global lifestyle and entertainment avenues. The honored residents of this contemporary township can get into a shopping extravaganza for globally reputed products at retail outlets, boutiques and neighboring departmental stores.

The much-anticipated global lifestyle is determined to invigorate Indore and its citizens. Shopping and dining facilities will offer a holistic perspective of modern urban lifestyle.

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Parsvnath City:-

Plot Size(sqft)

Price(psf)

Flat(BHK) Area(sqft)

Price (psf)

Distance from Omaxe-1

Distance from Indore City

Distance from railway station

1548 Rs. 800 2BHK,Ground floor

1150 Rs. 1650

6km 16km 19km

2250 Rs. 800 2BHK, 1st

floor1150 Rs.

1650

2700 Rs. 800 3BHK,Ground floor

1700 Rs. 1650

3825 Rs. 800 3BHK, 1st

floor1700 Rs.

1650

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Malwa County

Satya group one of the biggest real estate groups of India. In Indore they launch a project Malwa County in 110 acres. According to Malwa County:-

MALWA COUNTY would be having a provision for an IT PARK on about 6 Acres of land. The IT and ITES Services in India as a whole are booming and they require space and also talent to operate efficiently. The ITES companies operate on low costs and are always on the lookout for cities from where they can operate in a cost effective and efficient manner. With time Indore has developed as an educational hub in the Country with numerous technical institutes like 4 engineering colleges, an IIM and more coming up and a University. Indore is an ideal location for cost effective operations and it is destined to become a preferred location for IT and ITES companies.

The Club that is proposed to be built in the Township will boast of all modern infrastructure and facilities as seen in such Utility internationally. The Club will possess the state of the art Tennis Courts, Badminton Courts, Squash Courts, Table tennis room, Card room, Billiards room, a Gym equipped with modern and state of the art equipment’s, a swimming pool of world class levels, steam and sauna facilities. The Club would be a fitness Centre par excellence. Also the club would provide for an entertainment area.

The projects under execution by the Satya Group bear an eloquent testimony and proof of experience and expertise in the real estate world, which speak volumes about sound financial standings and business.

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Malwa County:-

Plot Size(sqft)

Price(psf) Flat Area(sqft) Price(psf) Distance from Omaxe-1

Distance from Indore City

Distance from railway station

4050 Rs. 775 A-2BHK 868 ; 844 & 1519

Rs. 1095 6km 10km 15km

2700 Rs. 775 B-2BHK 943 ; 923 & 1289

Rs. 1095

1800 Rs. 775 C-3BHK 1273 & 1396 Rs. 1095

1500 Rs. 775 D-2&3 BHK

1192 & 1516 Rs. 1095

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Amrapali Modern City

Amrapali Modern City in Indore launches its project in 2008; spread over 125 acres of area. According to Amrapali:-

At Amrapali Modern City we not only talk about plush interiors but the experience & of wet grass under your feet, trickling sound of water in the lily pool, rustling sound of dry leaves, clear sky and warmth of bonfire in winter. International standard Club house with swimming pool, Jacuzzis, various indoor outdoor games and an exclusive kids play area. Three Screen Multiplex with state of the art aesthetically designed shopping mall to cater to all the entertainment and Shopping needs of the neighborhood.

Amrapali:-

Plot Size (sqft) Price(psf) Distance from Omaxe-1

Distance from Indore City

Distance from railways station

854 Rs. 500 26 km Near IIM 15.7 km1000 Rs. 5001250 Rs. 5001800 Rs. 5002086 Rs. 500

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Emaar MGF

Emaar MGF Land Limited (“Emaar MGF”, “the Company”) is a joint venture between Emaar Properties PJSC (“Emaar”) of Dubai and MGF Development Limited (“MGF”) of India. Emaar is one of the world’s leading real estate companies, having developed approximately 89 million square feet of real estate across residential, commercial and other business segments and with operations in 14 countries. MGF has established itself as one of the key players in retail real estate development in Northern India and has delivered approximately 2 million square feet of retail space and in Indore its spread over 200 acres.According to Emaar MGF:- Emaar MGF Indore Greens is one of the popular Residential Developments in Pithampur Road Indore. Emaar MGF Indore Greens is one of the most exclusive, self-sustaining communities in all of Central India. A secure residential haven that many aspire for but only an elite few can achieve. Emaar MGF Indore Greens Offering a variety of luxurious villas, premium apartments, the landscape green beautiful garden with spacious Houses and a plethora of leisure and retail options, a school, contemporary offices and a business hotel. Indore Greens is among the well known Real Estate Projects of Emaar MGF Limited. Set in a pristine natural, environment friendly setting, spanning over 200 acres of lush greenery, Indore Greens seeks to evoke and inspire the spirit of family living in a reserved yet flourishing neighborhood.

Distance from Omaxe-1:- 14 km Distance from Indore city: - 2 kmDistance from Railway station: - 11 km

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Other Real Estate’s

Other then these big real estate companies some of the small companies are also there in Indore like: -

1. Indus Town2. Shalimar Palm3. Ansal Housing 4. Ocean park5. County Walk6. Milan Heights7. Silver spring8. Treasure Vihar9. Midtown

Some of the township‘s are big like Silver spring, Ansal Housing and many of them are of local builder’s like Indus, Treasure Vihar etc. Omaxe is having competition from both local builder and big real estate company because Omaxe is having around 400 acres of land in different part of Indore, Omaxe City-1, Omaxe City-2 and Omaxe hills.

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CHAPTER-3

RESEARCH DESIGNAnd

DATA ANALYSIS

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RESEARCH DESIGN

Type of Research:

The research was a combination of both Descriptive and Qualitative type of research. Descriptive

Research includes surveys & fact-finding enquiries of different kinds. Its major purpose is to

describe the state of affairs as it exists at present & the researcher has no control over the

variables. It includes attempts by researchers to discover causes even they cannot control

variables.

Qualitative research, on the other hand, is concerned with qualitative phenomenon, i.e.

phenomena relating to or involving quality or kind. Qualitative research is especially important

in the behavioral sciences where the aim is to discover the underlying motives of human

behavior.

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Data collected from broker

Most of families dream of owning house. This makes the property market, a really huge market. It is also a common view that a house is a good asset and investment.Therefore, pursuing the job as a real estate broker or agent has turned unexpectedly hard following the latest financial recession. On the other hand, although the market has shrunk in numerous areas, people while making a deal in house for sale frequently look for real estate brokers in a quest of getting the best deals. Whether investing for a personal purpose or for others, you normally need the services and expertise of a real estate broker. So i visited many real estate broker for understanding there method of working and collecting data from them, which will help in my project.

Customers visitbroker before buying property:-

Yes 82 % No 18%

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82%

18%

Investors visit broker before buying property:-

80%

20%

Mainly Investor don’t visit any broker and most of them don’t wont there expert advise before investing in any property.

Is brand name affect buying behavior of customer?

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Yes=60%

No=40%

There 50-50% case, but yes brand name affect the buying behavior means the people like to buy there property in big companies township rather then in local builder township

Is broker want to become an associate of Omaxe:-

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Yes No0

10

20

30

40

50

60

70

80

90

Yes = 80% No=20%

Yes many broker want to be a part of Omaxe.

Are broker’s satisfied with Omaxe?

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Yes=90%

No=10%

YesNo

Data collected from different real estate’s

Mainly Marketer of different real estate spread rumors about omaxe or there respective competitor to increase its sales.

Is marketer spread bad rumors for there competitor:-

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Yes

No

0

10

20

30

40

50

60

70

80

90

100

Yes 90% of marketer spread bad rumors for its competitor’s.

Is company change its price, when there is variation in competitor price?

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Yes No0

10

20

30

40

50

60

70

80

90

100

Yes 75% of the company changes its price when there is variation in competitor.

Chapter 4

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Future Scope of Omaxe in Indore

Future Advertisement

Omaxe have to do aggressive advising because the competition is increasing day-by-day in Indore.

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New place and modes of advertisement:-

1. Bhopal there is big market in Bhopal, so Omaxe have to target Bhopal and do aggressive marketing in Bhopal.

2. Devas just 30 km from Indore and many industries are there so Omaxe have to target Devas industrial area also.

3. Omaxe have to tie-up with newspaper agencies.

4. Omaxe have to target all segments of people so expect T.V and newspapers, Omaxe have to tie-up with radio station also.

5. Omaxe have to target Jabalpur, Gwalior also there they can find a future Prospect for there company.

6. Omaxe have to tie up with news channel’s also for there advertisement.

Future Brokers

1. Omaxe have to find broker’s not only in city but in village too.

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2. Omaxe have to make broker in different part of M.P.

3. Omaxe have to give more incentives to broker’s.

4. Omaxe have to target small brokers too in Indore.

5. LIC agents can also be future brokers of Omaxe.

Maintain better relationship with Brokers:-

1. Omaxe regularly motivate there broker’s.

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2. Omaxe have to create dispute between two broker’s so there sales may increase.

3. Omaxe have to target small brokers too in Indore.

4. LIC agents can also be future brokers of Omaxe.

Future Prospect and Future Construction

Anyone can be future prospect of Omaxe, because in future the people from rural as well urban want a house for there survival and as there in no space left in city or in there village as population increases day-by-day.

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If the space is not there in there city or there village they have to move towards the townships and then the sales of the Omaxe product will increase.

As per construction is concerned Omaxe have to try some new look and give new design to there build-ups, so that they can attract customer’s very easily.

Like roof parking or eco friendly houses or energy efficient or earth quake resistance and many more, so that customer don’t get confused rather buy here or any some other big township.

Chapter 5

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Recommendation and conclusion

Recommendation

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1. If Omaxe want to increase its sale, they have to control the rumors which are spread by the competitor companies or by the broker’s which are not a part of Omaxe.

2. Omaxe have to do aggressive marketing in whole M.P. to get maximum profit.

3. Omaxe have to focus on sales maximization rather then on profit maximization.

4. Target every communication channel such as print media, T.V, Radio even they have to tie up with telecom companies also.

5. Target share market agents and bank insurance agents.

Conclusion

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The market of real estate is still in boom in India, so there is many chances Omaxe is having and Omaxe have to take the right step on right time and right place and just concentrate on brokers and potential customers.

The future of Omaxe is very bright, just utilize its potential fully.

Bibliography

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www.google.com

www.Omaxe.com

www.wikipedia.org

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