T.P.Vinayan: An Entrepreneur With Extensive Expertise Creating Upscale, Uniquely Designed Residential Properties
T. P. Vinayan
Chairman
For over twenty years, Vinayan has been running a successful business, using his expertise to build Prime residential complexes with their unique identities. Under Vinayan's direction, a small company grew into a major player serving a wide range of local and international customers. Once its vision and objectives were clearly defined, Kent quickly established itself as a household name in the world of high-end real estate ventures.
Below is an excerpt of Vinayan’s exclusive interaction with CEO Insights magazine.
What inspired you to establish Kent Constructions? How has been the journey so far?
I am Mrs. Rajamma and Mr.T. K. Parameswaran's third son. I was born in the little village of Aluva, outside of Kochi, to a humble business family of five siblings. My interest has always been construction. I began modestly by receiving electrician training at the ITI. As an electrician, I had been to Saudi Arabia and I joined the family company after my return from the Gulf. Intermittently, I invested the money I had earned while working in the Gulf in land plots and real estate properties. This was my introduction to the industry. Several years later, I decided to become a real estate developer and launched my first residential project under the name Kent.
Define Kent Constructions as an organization and its current position in the industry.
Kent is a well-defined organization in which every member or component, has specific, well-defined roles and responsibilities. This has enabled Kent to operate virtually efficiently. Kent Constructions is Kochi's premier builder in terms of the quality of the houses it constructs. Kent gives the best value to its consumers by offering Kochi homeowners industry-leading and various first-to-market features. As a result of Kent's constant excellence in the business, prospective home buyers always demand more than what has been promised, and the Kent family can state with pride that we have always surpassed client expectations.
What are some of the most captivating difficulties you have encountered so far in your professional journey? What did you learn and how did you overcome those challenges?
As with the majority of property developers, the building portion of property development was subcontracted to another entity/contractor, which was the
major challenge for Kent. As a result, we had difficulties with both the timeliness and quality of the project's construction. During the startup phase, this had a major impact on our company's viability. Because of this, we made the bold decision to establish an inhouse construction division capable of handling any and all future projects. None of our own equipment or workforce was able to remedy the situation. The onsite and remote workforce were still not producing to expectations.
At that point, Kent initiated the development of machinery and programs to regulate the effectiveness of our team. For this, we drew on the incalculable body of expertise we've amassed over the course of our many years in the field. It took around five or six years to complete the project before it was ready for deployment. Our own inhouse R&D team created this. Now, after so many years of effort, we are finally successful. There are essentially no quality problems at all.
Because of the reliability of our building methods, we can now offer our clients extended guarantees to put their minds at rest. For projects built by external contractors, we used to spend crores of rupees on maintenance throughout the necessary warranty term; currently, that cost is just 10–20 percent of what it was. We had a large workforce and many individuals doing the same things before we digitized our processes since there wasn't enough documentation of the steps involved. As a result, we were able to drastically reduce our workforce while simultaneously maximizing efficiency by eliminating unnecessary repetition of work.
As a result of the improvement in quality, we are now able to demand better prices from the market, and our clients are happy to pay the premium we want since they recognize the value increase for their purchase of a new house. As a result, we ascended to the pinnacle of our field and became market leaders.
As an entrepreneur with more than two decades of experience in the creation of elite residential complexes each with a particular individuality of its own. Which is the most unique construction project you have worked on so far?
There hasn't been a project like Kent Oakville before. Oakville in Vazhakala, Kochi, is a highend project. The fact that the apartments in the project seem like villas is what makes it distinctive. We could have built a big tower there, but instead, we went for low-density, lowrise apartments that give off the impression of living in a villa. On the five acres of land, you'll find eight similar buildings, each with five stories. A few villas are also included in the project. The expansion brings the project's overall area to five lakh square feet, and it won't feel like a cramped metropolis. Each apartment has many balconies, giving the impression of a spacious sky villa with plenty of natural light, fresh air, and greenery. We were able to get a premium price because of this.
Tell us about your leadership approach and governance style. What has been the success mantra that constantly helps you arrive at positive outcomes?
Leadership: The systems are handling all the reporting and performance analyses, so I seldom have to chastise or yell at anybody.
Kent gives the best value to its consumers by offering Kochi home owners industry-leading and various first-to-market features
At that point, Kent initiated the development of machinery and programs to regulate the effectiveness of our team. For this, we drew on the incalculable body of expertise we've amassed over the course of our many years in the field. It took around five or six years to complete the project before it was ready for deployment. Our own inhouse R&D team created this. Now, after so many years of effort, we are finally successful. There are essentially no quality problems at all.
Because of the reliability of our building methods, we can now offer our clients extended guarantees to put their minds at rest. For projects built by external contractors, we used to spend crores of rupees on maintenance throughout the necessary warranty term; currently, that cost is just 10–20 percent of what it was. We had a large workforce and many individuals doing the same things before we digitized our processes since there wasn't enough documentation of the steps involved. As a result, we were able to drastically reduce our workforce while simultaneously maximizing efficiency by eliminating unnecessary repetition of work.
As a result of the improvement in quality, we are now able to demand better prices from the market, and our clients are happy to pay the premium we want since they recognize the value increase for their purchase of a new house. As a result, we ascended to the pinnacle of our field and became market leaders.
As an entrepreneur with more than two decades of experience in the creation of elite residential complexes each with a particular individuality of its own. Which is the most unique construction project you have worked on so far?
There hasn't been a project like Kent Oakville before. Oakville in Vazhakala, Kochi, is a highend project. The fact that the apartments in the project seem like villas is what makes it distinctive. We could have built a big tower there, but instead, we went for low-density, lowrise apartments that give off the impression of living in a villa. On the five acres of land, you'll find eight similar buildings, each with five stories. A few villas are also included in the project. The expansion brings the project's overall area to five lakh square feet, and it won't feel like a cramped metropolis. Each apartment has many balconies, giving the impression of a spacious sky villa with plenty of natural light, fresh air, and greenery. We were able to get a premium price because of this.
Tell us about your leadership approach and governance style. What has been the success mantra that constantly helps you arrive at positive outcomes?
Leadership: The systems are handling all the reporting and performance analyses, so I seldom have to chastise or yell at anybody.
Everything is handled by the system. We've become like a family here at work, which is great. They may always come to me with whatever professional or personal concerns they have, and I will always make myself accessible to them. The protocols being in place assist by producing fewer instances of me becoming upset. I used to believe that I must make all ultimate choices. But now I see that I have to learn to delegate if I want to grow my company. Moreover, the practice of delegation has enhanced morale by encouraging team building.
Furthermore, the installed systems improved governance by providing employees with a transparent understanding of their roles. In order to ensure that everything is running well, we do routine system checks.
To ensure that all of our employees are up-to-date and able to follow any changes made to the organization, we provide training sessions for each position within the company. This allows them to maintain their edge and perform at their best consistently. As long as I make sure the workforce is following the established procedures, my job is done. An in-house auditing group checks to ensure that critical process stages aren't missed. Through the eyes of my auditors, I speak to my team. This helps in keeping me on good terms with my employees.
Being the Chairman, how do you plan to apply your exceptional understanding of the domain to Kent Constructions and take it to the next level?
We anticipate rapid growth in the near future. Since the start of the year, we have had a presence in Bengaluru. We are planning to expand into Goa as our subsequent market. We are in the process of expanding into GCC and African nations.
Based on your strong professional experience, what advice would you give to the upcoming leaders in the same industry?
Let me be the first to extend a warm welcome to those who are just entering the field. There is always room for new people. Indeed, it ranks among the world's most fruitful business sectors. Yet there are dangers involved. To make it in this industry, you need to minimize waste and maximize productivity. Make sure you have mechanisms in place to maintain low expenses. There has to be a standard guidebook like a Bible for the company at all times. There should be no ambiguity about what is expected of and what is forbidden from the people. Workers that are brought in from outside the property development sector will be able to quickly learn the ropes and contribute to the company's success. It will save time and money by reducing inefficiency-related confusion. As I indicated previously, it is crucial for the company to provide regular training to its employees. Make sure your employees know they are appreciated. After all, you didn't build your company alone your employees are the ones who keep it going every day. Motivate them and work at keeping them on with the company permanently.
Help them develop personally and professionally by giving them advice or guidance. Get out of the office once a quarter and spend the day with your team. Make sure they know how much their efforts are appreciated. If you believe they deserve recognition, give it to them. These measures may seem little, yet they have a significant impact on maintaining employee morale.
Furthermore, the installed systems improved governance by providing employees with a transparent understanding of their roles. In order to ensure that everything is running well, we do routine system checks.
To ensure that all of our employees are up-to-date and able to follow any changes made to the organization, we provide training sessions for each position within the company. This allows them to maintain their edge and perform at their best consistently. As long as I make sure the workforce is following the established procedures, my job is done. An in-house auditing group checks to ensure that critical process stages aren't missed. Through the eyes of my auditors, I speak to my team. This helps in keeping me on good terms with my employees.
Being the Chairman, how do you plan to apply your exceptional understanding of the domain to Kent Constructions and take it to the next level?
We anticipate rapid growth in the near future. Since the start of the year, we have had a presence in Bengaluru. We are planning to expand into Goa as our subsequent market. We are in the process of expanding into GCC and African nations.
Based on your strong professional experience, what advice would you give to the upcoming leaders in the same industry?
Let me be the first to extend a warm welcome to those who are just entering the field. There is always room for new people. Indeed, it ranks among the world's most fruitful business sectors. Yet there are dangers involved. To make it in this industry, you need to minimize waste and maximize productivity. Make sure you have mechanisms in place to maintain low expenses. There has to be a standard guidebook like a Bible for the company at all times. There should be no ambiguity about what is expected of and what is forbidden from the people. Workers that are brought in from outside the property development sector will be able to quickly learn the ropes and contribute to the company's success. It will save time and money by reducing inefficiency-related confusion. As I indicated previously, it is crucial for the company to provide regular training to its employees. Make sure your employees know they are appreciated. After all, you didn't build your company alone your employees are the ones who keep it going every day. Motivate them and work at keeping them on with the company permanently.
Help them develop personally and professionally by giving them advice or guidance. Get out of the office once a quarter and spend the day with your team. Make sure they know how much their efforts are appreciated. If you believe they deserve recognition, give it to them. These measures may seem little, yet they have a significant impact on maintaining employee morale.