Customer Satisfaction… Quality in Constructions

Shanta Sriram Constructions MD
M. Narsayya’s 30 years of real story

A small dispute at work completely changed his life. With a hardworking mindset and the support of his brother, they persevered together. Starting with small projects and always being available to customers — regardless of their size or needs — they tackled every challenge head-on. This journey, which began in 1995, has now seen over 80 projects completed and more than 10,000 happy customers. Looking back, there’s immense satisfaction and joy. Recently, M. Narsayya, Managing Director of Shanta Sriram Constructions, shared his inspiring story in Real Estate Guru’s “Real Talk with King Johnson” program. He discussed several interesting aspects of his journey. Excerpts from the interview:

His career began with a salary of Rs 900 a month in a real estate company, but within five years, his journey took a turn. He quit his job and ventured into real estate as an agent. Soon after, he started his own construction company and began his real estate journey with just two houses. From there, he never looked back. For the past 30 years, this journey has continued relentlessly. Thousands of apartments, over 50 lakh square feet of commercial projects, multiplexes, and IT parks — he has faced countless challenges and overcome them all with determination. His focus has always been on customer satisfaction, and his commitment to quality in construction has helped him successfully complete many projects. Not only has he consistently delivered successful projects, but he has also treated every customer like family, ensuring an ongoing journey with them. This is the success story of M. Narsayya, Managing Director of Shanta Sriram Constructions. Having completed 30 successful years in his real estate journey, he recently stepped into the 31st year of his career.

Narsayya, hailing from Dhurajpalli in the Suryapet taluk of Nalgonda district, grew up in a family of farmers. He studied up to the 10th grade in Suryapet and later completed a Polytechnic course in Civil Engineering in Nalgonda. After that, he moved to Hyderabad and joined a job. While working at RE/MAX Construction Company, he completed his Engineering degree in the evenings from JNTU. His career began in 1990 with a salary of Rs 600. In 1994, he completed his B.Tech. After facing a small issue at the office, he resigned in 1995, at that time earning Rs 2,500. After quitting his job, he worked as a real estate agent for some time. Later, he entered the construction business by building two houses in Bowenpally, and started Shanta Sriram Constructions, named after his parents.

First apartment

Initially, he successfully completed an apartment with eight flats in the LIC Colony of Mehdipatnam. At that time, the construction cost was Rs 400 per square foot, and the flats were sold at a rate of Rs 600 per square foot. After completing this project, he started another project with 15 flats in Marredpally. From there, he never looked back. In Marredpally alone, he completed 13 ventures. By consistently maintaining quality in construction and focusing on customer satisfaction, he took several steps to ensure the customers’ happiness. One of the key strategies was ensuring that the value of the flats increased by at least 50% by the time customers took possession compared to when they booked the flats. Through these efforts, he earned a reputation as a reliable builder. Additionally, he viewed his customers not just as clients but as family members, building a strong and lasting relationship with them.

In project construction, he always consulted with his customers and continuously showed quality standards at every stage of the work. As a result, the customers were always happy and satisfied. That’s why even after 25 years, those who bought properties in the Shanta Sriram project continue their journey with them. The projects built in Marredpally were sold at rates ranging from Rs 800 to Rs 1000 per square foot at that time. Even now, those buildings still look new, and their current price is above Rs 10,000 per square foot. The commercial and residential project named Mehtab Arcade, undertaken in Tarnaka, was a huge success. He also completed two more projects in Tarnaka, and in Padmarao Nagar, he built 10 projects.

In Jubilee Hills, they acquired 10 to 12 properties and ventured into various projects. The buildings housing Neerus Building, Roshan Garments, Varamahalakshmi Silks, Tanishq Showroom, Aanchal Showroom, and P. Satyanarayana Jewellers were all constructed by Shanta Sriram Constructions. Additionally, the Bluemoon Hotel located opposite the CM camp office is now the Tanishq Showroom. Other notable projects include Malabar Gold Showroom, Punjagutta Bajaj Electronics, Shanta Sriram Tech Park next to DLF, Sudarshan Theatre Multiplex, Odeon Theatre Multiplex, and a multiplex at Patny Circle, among many others. Due to the pandemic, the construction of multiplexes was delayed.

Speaking of their iconic project, it is the Skycity IT Park in Gachibowli. They completed this project on approximately 11.5 acres of land in collaboration with the Vasavi Group.

Manikonda.. Kismatpur..

Recently, villa projects in Manikonda and Kismatpur have been completed. Currently, they are working on an apartment project named Bodhivriksha near the Telangana Police Academy. This project will have 800 flats, and to promote greenery, 800 trees have also been planted. They are progressing towards completing the project and handing over possession by December 2026. The prices of flats in this project will range from Rs 1 crore to Rs 1.20 crore. Narsayya mentioned that they are incorporating luxury amenities in these flats, which are expected to be worth around Rs 2-3 crores.

Additionally, in the Kalpavriksha project, the prices of flats will range from Rs 50 lakhs to Rs 70 lakhs. He mentioned that the amenities in these flats would be comparable to those in Rs 1.5 crore apartments. Shanta Sriram Constructions, which has completed over 8,000 apartments and commercial projects spanning over 50 lakh square feet, has also faced several challenges along the way.

There were troubles too!

In 2007-08, during the Telangana movement, and again during the COVID-19 pandemic, Shanta Sriram Constructions faced significant challenges. The business was hit hard, but despite these setbacks, the company managed to recover quickly and emerge stronger. Key factors that have contributed to the company’s success include its policy of not conducting pre-sales, launching projects only after obtaining all necessary approvals, and always prioritising customer satisfaction.

Narsayya emphasised that now is a good time to buy property in Hyderabad, with prices currently being 10 to 15 percent lower than usual. He clarified that Hyderabad’s real estate market is always “evergreen” and consistently reliable. He also pointed out that property prices in Hyderabad are still lower compared to other metro cities in the country. Additionally, he mentioned that the Regional Ring Road is expected to be a game-changer for the real estate industry in the region.

Regarding high-rise towers, Narsayya stated that there are challenges with unlimited Floor Space Index (FSI), and he recommended that for such projects, it would be better to set limits on the maximum floor area per acre, suggesting a range of 2.5 to 3 lakh square feet per acre.