Sunil MishraManaging Director and CEO, Growth Business and Chief Strategy Officer
Sunil Mishra boasts over 28 years of diverse business expertise in Telecom, BFSI, Online Startups, and tech-driven Real Estate. Currently serving as ANAROCK group’s Chief Strategy Officer and CEO of Growth Businesses, he steers strategic direction, innovation, and AI integration. His tenure witnessed successful ventures like Trespect and amplification of ANAROCK’s Channel Partner, Home Solutions, and MENA business. Previously, as Chief Business Officer at PropTiger-Housing and CEO at Karvy Private Wealth, Sunil demonstrated prowess in private equity and management consulting. An alumnus of Indian Institute of Management, Bangalore, and Mumbai University’s VJTI, he’s a social media enthusiast, published author, avid blogger, and passionate half-marathon runner.
ORGANIZATION STRATEGY/ KEY CHALLENGES
1. How does ANAROCK define the core essence of digital transformation within its operations, particularly in an industry traditionally reliant on conventional methods?
Right from our inception in 2017, when we invested about Rs 150 Cr in building a robust digital technology infrastructure right from the beginning, we were convinced that efficiency, productivity and then eventually differentiation in real estate sales and marketing would come from technology-enabled processes and digital way of working
2. In the face of increasing digital advancements, how does ANAROCK ensure it strikes a harmonious balance between technological progress and upholding a people-centered approach to real estate?
Real estate sales and marketing has two dimensions of physicality – the physical nature of the transaction and the physical nature of intermediation through real-life human brokers. These two dimensions more than take care of the human-centric approach to the real estate transaction process. The digitalisation of the process hence is an uphill journey to move the game from this duo-physical truth, towards a digital, online way of working, partially.
3. What has posed the greatest challenge in incorporating digitalization into ANAROCK’s operations, and how has the company effectively addressed these hurdles?
As mentioned above, the buying or renting of an apartment or a shop or an office necessarily involves a visit to the project site, even in cases when the project is in PowerPoint. The sheer physicality of the sale process is the most challenging part. We have been able to move parts of the sale process online, and customers can now at least eliminate wrong-fit choices and visit more serious options.
PEOPLE ASPECT
4. How is ANAROCK harnessing Proptech to revolutionize property transactions and management, and what specific Proptech innovations or platforms has the company embraced or developed to stay competitive in this dynamic field?
We have developed our own CRM system, which is an integrated digital-marketing-sales platform to cover the home-buying journey of the customer. There is a seamless process from marketing to generating enquiries to closing of the deal. And there is a reverse feedback loop from sales into marketing, to guide marketing on the right channels to be used.
5. What unique skills or attributes is ANAROCK looking for in potential hires to excel in a real estate industry heavily influenced by digital advancements?
The millennials and Gen Z employees are digital natives, which is one of the important attributes that ANAROCK seeks actively in our employees. This is irrespective of the function that the employee is performing. Sales employees constitute 90% by numbers but are expected to work on the CRM system on our mobile app, track performance on dash boards, receive incentives information through CRM updates. The customer is getting increasingly younger and more digitally comfortable. Hence, the employees must
follow suit to be in sync with their needs and their way of communication.
SHORT/MEDIUM TERM OUTLOOK & STEPS TAKEN
6. Can you spotlight a recent or upcoming project that exemplifies ANAROCK’s vision for the future of real estate, especially concerning digital integration and customer focus?
ANAROCK has developed (and recently successfully patented) Astra, our predictive AIML solution to maximize revenues. It has two models. The Platinum model identifies the propensity of prospective customers to convert, right at the beginning of the journey, and ensures higher focus is given to higher seriousness leads (Platinum leads). The Phoenix model, on the other hand, scavenges through buckets of junked leads and reintroduces to sales teams 10-15% of such leads as false negatives, i.e. leads which should be tried again. Between the two models, ANAROCK projects have reported a 7-10% increase in revenue in the same time period.
7. How does ANAROCK secure funding for its digital projects in real estate, and how does it evaluate and mitigate risks related to financing such initiatives in a rapidly changing market?
All our digital projects have been funded from internal accruals and we have not raised external funding for any of those.
LEADERSHIP
8. How does ANAROCK foster a culture of continuous learning and upskilling among its workforce to keep up with the rapidly evolving digital landscape in real estate?
All employees of ANAROCK undergo continuous refresher training on basic skills required for their roles. Most of this training is also digitally imparted. This training necessarily involves modules on new digital ways of communicating with customers, new platforms like WhatsApp Business, new social media platforms, using new features on LinkedIn, YouTube, etc. Some of our sales processes are digitalized as well, keeping in line with changing preferences of the homebuyers. Sales teams get trained in this digital sales process, which itself keeps on evolving. We see many Indian leaders on the global stage. How can more Indian leaders become Global Leaders?
9. How has ANAROCK implemented measures to promote diversity and inclusivity in its hiring procedures, particularly in technology-related positions, where gender disparity is often prominent?
ANAROCK has almost 30% gender diversity (unfortunately, women form 30% and not 70%). Being in real estate where weekends are working and Tuesday is a holiday, this is a bit of an achievement. This percentage shoots to 40-60% for Marketing, Digital Marketing.