Real estate developers like Lodha, DLF, Unitech and Raheja have begun ramping up their presence in Business school campuses in the past two years in a move to have a more professional image. The move coincides with the growing interest of business school graduates in the real estate sector.
The real estate firms have sold promising careers to the students by offering competitive compensation packages. They usually hire students with prior work experience so that within two years they are ready to hold fairly senior posts.
Lodha, one of the highest paying companies on campuses made offers approximately in the range of Rs 16 lakh per annum. Real estate companies have felt a need to keep pace with growth and build organizational capabilities. Unitech has roped in McKinsey to conduct a study to on the balanced ratio between professional and family work force.
Unitech general manager of corporate planning, R Nagaraju said, “Although family continues to handle board level positions, senior strategic positions were taken by professionals. There is a higher level of delegation now at the professional level.” Unitech hired around 15 students from IIMs and ISB this year. This number was similar to last years.
Having had an experience with the Indian real estate majors, B-schools are now looking at luring foreign real estate companies. Many are looking at real estate companies based in Dubai and Singapore as potential recruiters. Some are already strengthening ties with existing players.