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Deval is a seasoned investment professional with track record of origination, evaluation, underwriting, structuring, leveraging, asset monitoring and exits in Real Estate.
How long have you been in the real estate industry, and how did you get involved?
I completed my MBA in Finance in 2010 and joined State Bank of India in their Corporate Accounts Group. After an enriching stint in the Bank working as an Investment Manager for large corporates of the country, I got a fantastic opportunity to work in Piramal Capital in 2012. The company was in the lending business to real estate developers. The book size of Piramal Capital at that time was approx. INR1500 crores. When I decided to move on from Piramal in 2020, the book size was approx. INR50,000 crores. The opportunity that I received has enabled me to see the entire real estate cycle, structure deals innovatively, and understand the company's growth phase.
I have a total work experience of more than 14 years, with ten years of work experience in the real estate industry.
You have been in the same business for a couple of years. What do you like the most about your job?
In 2020, I decided to switch sides from the buy-side to the sell side to increase my knowledge of the industry and apply my learnings from the previous organization to structure deals that are beneficial both to the developers and Financial Institutions.
I have been given the opportunity to head the West market (Mumbai, Pune, and Gujarat) for Capital Markets and Investment Services (CMIS) vertical in Colliers. Although the journey has been challenging, it has been more rewarding. I like to engage with my customers, offer innovative solutions and suggest the best options to all stakeholders.
The company has given me the freedom to be innovative, and the same has brought the best out of me. I am also blessed with exceptional senior management and a team that strives hard to give their best in every assignment we take up.
The learning is unparalleled. After having worked on both sides, I can vouch that being in an International Property Consulting (IPC) business makes you a better professional, allows you to work on various deals, improves your knowledge base, and connects you to people from all sides of the industry.
How do you describe, in short what your team does at Colliers?
As I mentioned earlier, I am a part of the CMIS vertical in Colliers. My team does the following:
- Provide capital solutions to the Developers by raising debt/equity/mezzanine from Financial Institutions and suggesting the risk capital mix to the developers.
- Solve the stress of the developer by bringing in the right partner, assisting landowners and purchasers for land sale/purchase, and assisting in selling and buying core assets
How do you think you use your expertise to add value to clients?
As I have a good mix of working on both the buy-side and sell-side, I understand the nuances of lending from developers' and financial institutions' perspectives. This helps me advise the Developers on how to approach a project, what is expected from them to raise the right mix of capital, and most importantly, how to close the deal. I ensure that I am involved till the time of deal closure.
My experience in understanding land value, technicalities, and dealing with core assets helps me connect the buyer and seller in the right way, and the same has been reflected in the deals we have done in the past 1.5 years.
My experience in funding and dealing with real estate experience adds a lot of value to my customers.