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Thursday , 15 November 2018
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Mantri Developers: The stepping stones of the real estate giant

mantri developers review

Two decades ago, growth of the Indian real estate was at its peak with the people-demand curve rising exponentially. In 1999, the industry received one of the major boosts with the inception of Mantri Developers. Founded by SushilMantri, the company made its debut with Mantri Woodlands in Bangalore and has since, never looked back. Mantri Developers are one of the most veteran players in the realty business, with a rich portfolio that includes residential as well commercial verticals.

A decade of achievements by Mantri Developers:

2000: The company made headlines by delivering Mantri Residency, a month ahead of the suggested timeline. They became the first builder to deliver a project of 571 apartments within 17 months in comparison to the promised timespan of 18 months.

2001: SushilMantri received the award of ‘Best Entrepreneur by Ernst & Young’ as Mantri Paradise registered a sale of 65 flats within 3 days. This year, Mantri Developers handed over two more projects, Mantri Terrace and Mantri Gardens.

2002: While Mantri maintained their seamless track record by delivering Mantri Paradise within 19 months, they became the first developers with the facility of individual swimming pool for penthouses.

2003: MantriAltius was one of the few properties where the units were sold by invitation only.

2005: SushilMantri’s company became the first ever builders to enter into a Public Private Partnership (PPP) with the government for the improvement of Bannerghatta Road in Bengaluru.

2006: Mantri Developers became the company to receive India’s first real estate FDI priced at $68 million by Morgan Stanley. Furthermore, Mantri Tranquil sold more than 100 flats in 30 days. It is arguably the most iconic year for the company.

2007: The developer expanded its area of operations to Chennai, with MantriSyngery and Mantri Tranquil received the CNBC CRISIL award for Best Residential Project in India 2007.

2009: Launched Mantri Junction, a commercialproperty built over approximately 28,000 sqft with 500 brands and four screen multiplexes. The real estate giants expanded their market to Hyderabad with MantriCelestia.

2010: This year marked the inception of MantriSquare in Bangalore, the commercial crown of Mantri Developers. Built across 1.7 million sqft space, it is home to over 250 retail outlets. It is one of the largest malls of India.

Mantri Developers completed 14 million sqft of built space in 2014, and continues to achieve fresh milestones. Pratik Mantri, the son of SushilMantri, won the ‘Emerging Entrepreneur of the Year’ award in 2017, presented by Golden Bricks Award.SnehalMantri, the wife of Sushil, has made valuable contribution to the company with programs like Propcare and Insignia. It would not be an understatement to say that Mantri Developers is the testament of this power couple’shard work, persistence and innovation.

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