Prashant Thakur: One Of Indias Best-Known Real Estate Thinkers
Prashant Thakur
Chief Research Officer
Prashant has 20 years of expertise in several industries, including financial services, realestate, and consumer business, and specializes in corporate strategy and management consulting. Prashant has been able to establish and lead large to medium-sized teams located in various places due to his proficiency in people management and operations.
Below is an excerpt of Prashant’s exclusive interaction with CEO Insights magazine.
What inspired you to take up the role of CRO at Anarock Property Consultants, and what motivates you today?
Working in consulting, research, and data operations across various sectors over the last 20 years has given me a wide range of exposure. The real estate business is one of the most significant industries for the economy and is going to play a major role in the country’s aspiration of becoming a $5 trillion economy, thus I decided to take on the post of Chief Research Officer at ANAROCK Property Consultant. This sector, although being the second-largest employer, lacks transparency since there is no strategy based on solid research and market data. Since I wanted to use my skills and be instrumental in creating worldclass research verticals, which bring actionable knowledge to the
business, I figured this would be the best way for me to become involved in the sector. I figured this would be the best place to share what I've learned about a sector that's critical to the overall sustain ability of the Indian economy. This prompted my decision to join Anarock Property Consultants.
What is the importance of research for a property consultant? Also, share your journey at Anarock and the roadmap for the research team.
The ultimate goal of every research program is to improve individuals and companies by making the organization a thought leader in its field. In the same way, the real estate industry relies heavily on research for the benefit of investors, customers and enterprises. In today’s dynamic business environment, companies rely heavily on actionable insights provided by the research team to stay ahead of the curve and identify new growth opportunities as well as spot any impeding business risk. Post the introduction of RERA and other regulatory changes introduced by the government to bring transparency and accountability to the real estate sector, the importance of research has gained importance and now has become an integral part of the decision making for the stakeholders.
Since the beginning, Anarock and management have been very openminded about letting employees design their practice from the bottom up. Like wise, my guiding principle has always been to give useful findings from research. Data & business analytics thought leadership & brand recall and eminence development is in my opinion the three cornerstones of every research team.
Furthermore, high standards for the practice have been created and established because of the ability to operate in a manner that is favourable and allows alignment with the different verticals to harness synergies.As a result, the company has seen an increase in productivity while also building a solid foundation of market expertise. As of now, Anarock has the largest share of voice in the media and maintains a consistent presence on all digital and print media.
Research in real estate shortly will focus on determining how changes in the economy that is among the world's fastest growing, the social
Research backed decision-making by the stakeholders is gaining prominence in the real estate industry
What is the importance of research for a property consultant? Also, share your journey at Anarock and the roadmap for the research team.
The ultimate goal of every research program is to improve individuals and companies by making the organization a thought leader in its field. In the same way, the real estate industry relies heavily on research for the benefit of investors, customers and enterprises. In today’s dynamic business environment, companies rely heavily on actionable insights provided by the research team to stay ahead of the curve and identify new growth opportunities as well as spot any impeding business risk. Post the introduction of RERA and other regulatory changes introduced by the government to bring transparency and accountability to the real estate sector, the importance of research has gained importance and now has become an integral part of the decision making for the stakeholders.
Since the beginning, Anarock and management have been very openminded about letting employees design their practice from the bottom up. Like wise, my guiding principle has always been to give useful findings from research. Data & business analytics thought leadership & brand recall and eminence development is in my opinion the three cornerstones of every research team.
Furthermore, high standards for the practice have been created and established because of the ability to operate in a manner that is favourable and allows alignment with the different verticals to harness synergies.As a result, the company has seen an increase in productivity while also building a solid foundation of market expertise. As of now, Anarock has the largest share of voice in the media and maintains a consistent presence on all digital and print media.
Research in real estate shortly will focus on determining how changes in the economy that is among the world's fastest growing, the social
fabric is changing. As a result of the recent pandemic a sea shift has occurred. The future demand will be determined by population developments and economic patterns.
In my opinion, currently, the Baby Boomers are reaching retirement age while Millennials are gaining economic stability as a growing number of them reach their professional stride. As a result the real estate market will alter in a manner that accommodates economical elder living, as well as an aspiring younger group with money to invest. When and where to invest, will be determined by keeping an eye on potential demand patterns. Anarock will undoubtedly benefit from the thought leadership developed over the last five years as forecasting methodologies evolve to include these more nuanced considerations.
What has been the success mantra that constantly helps you arrive at positive outcomes?
Patience, persistence, and planning are three of my most important mantras. I've always relied on these three mantras to get me through any difficult scenario. If you're in the consultant and advisory business, you'll need to be laser focused and well-organized because of the high level of uncertainty. Because of this, patience is a virtue for everyone engaged in the field of research. Continuously upgrading your knowledge base and skill sets is critical for a person working in Research & Advisory role.
Based on your strong professional experience, what advice would you give to the upcoming leaders in the same industry?
For young professionals who are interested in a career in research and consulting, my most common piece of advice is to extend their horizons. Reading about the global economy and how geopolitical issues shape an in depth financial analysis is as important as reading about your industry. For new researchers joining my team, I often remind them that the more you study, the more diverse your perspective gets, and the more this is evident in their work.
Prashant Thakur, CRO, Anarock Property Consultants
Prashant completed his MBA in Finance from IBS Hyderabad and is currently pursuing a Ph.D. from ICFAI Foundation for Higher Education, Hyderabad. In his professional journey so far he has been part of various prestigious companies like Deloitte, Ernst & Young, Propequity, Commonfloor.com and Quikhomes. Currently, Prashant is the Chief Research Officer of the ANAROCK Property Consultants
In my opinion, currently, the Baby Boomers are reaching retirement age while Millennials are gaining economic stability as a growing number of them reach their professional stride. As a result the real estate market will alter in a manner that accommodates economical elder living, as well as an aspiring younger group with money to invest. When and where to invest, will be determined by keeping an eye on potential demand patterns. Anarock will undoubtedly benefit from the thought leadership developed over the last five years as forecasting methodologies evolve to include these more nuanced considerations.
What has been the success mantra that constantly helps you arrive at positive outcomes?
Patience, persistence, and planning are three of my most important mantras. I've always relied on these three mantras to get me through any difficult scenario. If you're in the consultant and advisory business, you'll need to be laser focused and well-organized because of the high level of uncertainty. Because of this, patience is a virtue for everyone engaged in the field of research. Continuously upgrading your knowledge base and skill sets is critical for a person working in Research & Advisory role.
Based on your strong professional experience, what advice would you give to the upcoming leaders in the same industry?
For young professionals who are interested in a career in research and consulting, my most common piece of advice is to extend their horizons. Reading about the global economy and how geopolitical issues shape an in depth financial analysis is as important as reading about your industry. For new researchers joining my team, I often remind them that the more you study, the more diverse your perspective gets, and the more this is evident in their work.
Prashant Thakur, CRO, Anarock Property Consultants
Prashant completed his MBA in Finance from IBS Hyderabad and is currently pursuing a Ph.D. from ICFAI Foundation for Higher Education, Hyderabad. In his professional journey so far he has been part of various prestigious companies like Deloitte, Ernst & Young, Propequity, Commonfloor.com and Quikhomes. Currently, Prashant is the Chief Research Officer of the ANAROCK Property Consultants