MIR REALTORS PRIVATE LIMITED COCHIN

Organization Study Report submitted in partial fulfilment of the requirements for the MBA (full time) degree of the Mahatma Gandhi University

Submitted by
KUMAR R. Reg. No.33522

2011-2013 Batch

ALBERTIAN INSTITUTE OF MANAGEMENT (A UNIT OF ST. ALBERTS COLLEGE) Banerji Road, Cochin 682018.
May 2012

ACKNOWLEDGEMENT

Any accomplishment requires the effort of many people and there are no exceptions. There are in numerous helping hands behind it who have guided me on my way. At the outset, I bow before God, the almighty for his bountiful blessings without which I would not have completed the enclosure successfully. First I would like to thank Dr. George Sleeba, Director, Albertian Institute of Management, and Dr. George Thomas, Dean, Albertian Institute of Management who gave me an opportunity to do the project. I express my sincere thanks to Mr. Ramesh, General Manager, Projects & Consultants, Mr. Sreejith Nair, Assistant Manager HR, Mr. Siva Prasad, Assistant Manager, Marketing, Mr. Bino, Project Manager, Kakanad Site and all other Department Heads for their precious time they spent with me for guiding me to compile this work. I gratefully acknowledge my indebtedness to my guide Mr. Nidhin Johny, Assistant Lecturer, Albertian Institute of Management for his meticulous guidance and constant support throughout my project. I am immensely grateful to all the employees at MIR Realtors for the help and co-operation rendered to me during the study. Also it was the love and inspiration instilled in me by my family members and friends that helped me to complete this venture, and also I extent my whole hearted gratitude to all those who have directly and indirectly helped me during the study.

Kumar.R
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DECLARATION

I hereby declare that the Organisation Study Report entitled MIR Group Private Limited, Cochin is a record of bona-fide work done by me in MIR Realtors Private Limited, Cochin during May 2012 under the supervision of Mr. Sreejith Nair, Assistant Manager of Human Resource, MIR Group Private Limited , and Mr. Nidhin Johny (Assistant Lecturer), Albertian Institute of Management, and that no part of this report has formed the basis for award of any degree, diploma, associate ship, fellowship or any other similar title or recognition in any other institution.

Place: Cochin Date:

Kumar. R

TABLE OF CONTENTS

SL.NO

CONTENTS

Page no

Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 5.1 Chapter 6 6.1 6.2 6.3 6.4 6.5 6.6 Chapter 7 Chapter 8 Chapter 9

Introduction Industry Profile Group Profile Company Profile Organisation Structure Organisation Chart Functional Departments Purchase Department Marketing Department Human Resource Department Finance Department Stores Department Projects Department SWOT Analysis Biography Conclusion

7 10 23 38 54 55 56 57 65 75 84 89 93 101 105 106

List of Tables

SL.NO 1) 2) 3) 4) 5) 6) 7) 8) 9) 10)

TABLE NAME List of the world's 10 hottest property markets Real Estate Sector List of various projects done by MIR Projects MIR-IFCR associates Mir Energy Solutions for Street light Management Objectives and target of various department Amenities at all Townships Materials purchased &Major Suppliers list of Promotion mix Construction process- flow chart

PAGE NO 11 14 28 32 35 36 53 64 74 97

List of Figures & Charts

SL.NO 1) 2) 3) 4) 5) 6) 7) 8) 9) 10)

TABLE NAME List of the world's 10 hottest property markets Real Estate Sector List of various projects done by MIR Projects MIR-IFCR associates Mir Energy Solutions for Street light Management Objectives and target of various department Amenities at all Townships Materials purchased &Major Suppliers list of Promotion mix Construction process- flow chart

PAGE NO 11 14 28 32 35 36 53 64 74 97

List of Symbols, Abbreviations

COO GM M.R MD QSM QSP WEP Jr. Exe NRI Sr. Exe CAR HO MB CC ERP QC PM HR QP

Short Form Chief Operating Officer General Manager Management Representative Managing Director Quality System Manual Quality System Procedure With effect from Junior Executive Non Resident Indian Senior Executive Corrective action request Head Office Measurement Book Customer Care Enterprises Resource Planning Quality Control Project Manager Human Resources Quality Plan

CHAPTER 1 INTRODUCTION

INTRODUCTION

Organization is a social unit which is deliberately constructed and reconstructed to seek specific goals .An organization comes into existence when there are a number of persons in communication and in relationship to each other and are willing to contribute towards a

common endeavor. Thus, an organization is born when people combine their efforts for some common purpose. It is a universal truth that an individual is unable to fulfill his needs and desire alone as he lacks strength, ability and resources. So he seeks the cooperation of other people who share goals with him. Organization can be defined as a system of consciously co-ordinate activities of two or more persons. In an organization, all the departments are related to one another by means of an organizational structure which shows the flow of authority, responsibility and the channels of communication within each department and in the organization. So being an MBA student, study of an organization, its functions and procedures helps a lot in providing important and useful knowledge for the future. This organizational study is to understand how a company functions and to familiarize ourselves with the practical side of various management concepts. This report is prepared by me as a result of my organizational study conducted at MIR Realtors Private Limited, Cochin.

1.1 OBJECTIVES OF THE STUDY Primary Objectives To understand the structure and the different functions of MIR Realtors Private Limited, Cochin. Secondary Objectives To study the profile & history of the company. To analyze the strengths, weakness, opportunities, and threats to the company.

1.2 SCOPE OF STUDY The study done at MIR Realtors during the period of one month starting from 1st May 2012, the scope of study covers a detailed study of all the functional areas of each department in the organization. It also helps to identify the strength and weakness of the organization and also helps to find out the area where the organization should improve. The study also helps to familiarize with the real estate industry and also ascertain the present position of the company. 1.3 RESEARCH METHODOLOGY This study was a descriptive study conducted mainly to familiarize with the activities, processes, policies, program and procedures followed in the firm. Required data for the study was collected through monitoring and interrogation. The study is made personally visiting the company at Cochin. The data were collected through various methods the methods adopted mainly are:

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 Primary Data Primary Data was collected from different manager, various department heads, officers and employees by direct interviews and by observations. Secondary Data Secondary data for the study was collected from internal annual reports, website, and office records were used for collecting relevant information for this study and external sources. Internal records like annual reports, website, office records, management reports, house magazines were used for collecting relevant information for this study. The data needed to prepare this project was obtained from other published sources like internet, magazines, business dailies, journals and business magazines.

1.4 LIMITATIONS OF THE STUDY The employees of the company were cooperative to me, but still they could not explain everything to me because of their tight schedule. 1. Lack of availability of confidential data. 2. Unavailability of Financial Datas restricted me to analyze the financial position of the company

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1.5 RATIONALE OF THE STUDY Organization can be defined as a system of consciously coordinated activities of two or more persons. In an organization all the departments are related to one another by means of an organizational structure which shows the flow of authority, responsibility and the channels of communication within each department and in the organization. So being an MBA student, study of an organization, its functions and procedures helps a lot in providing important and useful knowledge for the future.

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CHAPTER-2 INDUSTRY PROFILE

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2.1) GLOBAL SCENARIO The real estate industry, the world over, is a volatile one. The fluctuations in property values are largely attributed to the scarcity of this precious resource. The growing world population has resulted in a subsequent growth in the demand for land and property. People all over the world are investing heavily in real estate, both land and built up properties. In spite of some slow real estate markets in certain regions, the value of land and property only appreciates. The global real estate investment scenario is run by extensive networking and an unspoken understanding between the management gurus within the industry the brokers and agents and the buyers and sellers of the land and properties. The international scenario of this highly profitable investment market is run along the paradigms set by the management gurus of the industry over a period of time. There is no other investment avenue that offers more flexibility and a more international scope for appreciation.

The roles of each of the industry components is well defined and played along the same lines the world over. The global real estate investment scenario has the same rules and regulations everywhere, except of course in the case of certain legal paradigms set by certain jurisdictions, being peculiar to that region. The buying and selling within the global real estate investment market is handled either individually or by the versatile agents and brokers who assist the transactions in return for a commission. The extensive networking makes it possible for buyers and sellers to identify potential investments across the globe. The global real estate investment appreciations are largely influenced by the urbanization of the region, the facilities, utilities and amenities available in and around the land or property and the fiscal
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policies that rule the transactions. The industry components, the buyers, sellers and the agents and brokers, all play their roles in upgrading the factors that influence the value of real estate in a region.

The main aim of the buyer, anywhere in the world, is to ensure that he or she is able to bag a good investment within the pre determined budget and a property that is in a safe and facilitated neighborhood. Similarly, the seller primarily targets selling the property, post renovation, for a price that beats the original cost price and offers a profit. The agents and the brokers on the other hand are more focused on enabling the seller and buyer to reach an understanding and close a deal that benefits both and enables the agency to earn a decent commission. The commission of the agents and brokers are pre determined in nature or a percentage of the final transaction. The agents and brokers take care of all the civic and legal nuances involved in each transaction. They also ensure that the party they represent is satisfied with the final deal by guiding them with the desired changes in the property to boost the deal and even raising the required finances. Each component of this system plays its role individually and within a network.

List of the world's 10 hottest property markets based on research by global real estate consultancy Knight Frank, which ranks countries according to highest average growth in housing prices from the fourth quarter of 2006 to the same period in 2011:

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RANK

COUNTRY 1) China 2) Hong Kong 3) Israel 4) Singapore 5) Colombia 6) Taiwan 7) Canada (tie) 8) Norway (tie) 9) Malaysia 10) Switzerland

PRICE GROWTH 5-year price growth 5-year price growth 5-year price growth 5-year price growth 5-year price growth 5-year price growth 5-year price growth 5-year price growth 5-year price growth 5-year price growth

PERCENTAGE 110.9 percent 93.7 percent 54.5 percent 50.5 percent 39.4 percent 30.1 percent 28.7 percent 28.7 percent 28.5 percent 27.5 percent

TABEL-1(List of the world's 10 hottest property markets) SOURCE (http://www.msnbc.msn.com/id/47197011/ns/businessworld_business/t/worlds-hottest-real-estate-markets/#.T5QTV8WfW0M) There are many reasons behind such a huge price rise in this sector, it should be monitored and should be controlled. Then only the final aim of any real estate investment anywhere in the world is to ensure that a property is bought at the best negotiable price and either re-invested in for sale or used to the optimum.

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2.2) INDIA SCENARIO The Indian economy has witnessed robust growth in the last few years and is expected to be one of the fastest growing economies in the coming years. Demand for commercial property is being driven by India's economic growth. Real estate in India contributes about 5 per cent to India's gross domestic product (GDP). The total revenue generated in 2010-11 stood at US$ 66.8 billion. Demand is expected to grow at a compound annual growth rate (CAGR) of 19 per cent between 2010 and 2014Tier 1 metropolitan cities are projected to account for about 40 per cent of this. Growing requirements of space from sectors such as education, healthcare and tourism provide opportunities in the real estate sector. FDI of more than US$ 9 billion was infused in real estate in the last decade. In 2010-2011, over 11 per cent of total FDI in India was in the real estate sector. There have been 110 deals in this sector during the period 2001 to the first half of 2011. Urban population has been increasing and is expected to cross 590 million by 2030. Urbanization and growing household income are some of the major factors that influence demand for residential real estate and growth in the retail sector. Real estate is a legal term that encompasses land along with those improvements to it such as commercial and residential structures, roadways and ports that are all fixed in location. Meanwhile, construction is the process of building new infrastructure on real estate. Given their close inter-linkages, these sectors are often treated as one. Far from being a single activity, large scale real estate development is a feat of multitasking by a wide host of professionals, including financial analysts, legal experts, project managers, construction managers, design engineers and project architects, amongst others.

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The modern trend in construction design has been towards the integration of previously separated specialties, especially among large firms who offer themselves as "one-stop shops" for construction projects. In the past, architects, interior designers, engineers and developers were more likely to be entirely individual companies, even in the larger firms. Presently, a firm that is ostensibly an architecture firm may have experts from all related fields as employees, or it may have an associated company that provides each necessary skill. These design firms then work with the legal firms and financial companies to develop complete solutions. According to a study by ICRA, the construction industry in India ranks 3rd among the 14 major sectors in terms of direct, indirect and induced effects in all sectors of the economy. A unit rise in construction spending generates five times the income, having a multiplier effect across the board. With backward and forward linkages to over 250 ancillary industries, the positive effects of real estate growth spread far and wide. Therefore, real estate acts as a catalyst for adding momentum to growth of the Indian economy.

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Residential space

Fragmented market with few large players Demand of over 300,000 units in the seven major cities in 2010 Few players with presence across India Over 30 million sq ft demand in 7 major cities during 2010

Commercial space

Real Estate Sector

Retail space

Fragmented market with few national players Demand of over 2 million sq ft in 7 major cities during 2010
A competitive market with many players Over 100,000 hotel rooms in the country as of 2010 Over 550 SEZs have been approved by the government so far Majority of SEZs are in the IT/ ITeS sector

Hospitality space

SEZs

FIGURE-1(Real Estate Sector) Source (http://www.ibef.org/download/Real_Estate50112.pdf)

Growth potential Real estate emerged as the popular sector for private equity funds who invested US$1,700 million in this sector during 2011. Private equity in real estate projects will fetch considerable returns by next year-end or early 2013, with the growing quantum of domestic and international capital inflow, economic growth is likely to continue, and with it, the demand for infrastructure to maintain and accelerate this trajectory. As a result, the public sector has remained a big investor in this sector, given
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the acute shortage of infrastructure in India compared to the requisite level required to achieve the next growth target. The Government of India proposes to achieve 9.0% GDP growth during the Eleventh Plan period. To achieve growth of this scale, adequate infrastructure is the most basic requirement. In order to overcome the current constraint of insufficient modern infrastructure, the government is developing a program for infrastructure investment through both public and private sectors, and expects to more than double public investments from ~1.2% of GDP in FY07 to 2.8% by FY12. It is also partnering with private companies on initiatives such as the ultra mega power projects and Golden Quadrilateral project. Government Initiatives

The foreign direct investment (FDI) up to 100 per cent is allowed with Government's permission for developing townships and settlements

New home loan borrowers of up to Rs 1.5 million (US$ 30,477) will get Rs 14,865 (US$ 302) as interest subsidy from the Government, on the condition that the cost of the house should not exceed Rs 2.5 million (US$ 50,798)

Allowing 100 per cent FDI under the automatic route in development of Special Economic Zones (SEZ), subject to the provisions of Special Economic Zones Act 2005 and the SEZ Policy of the Department of Commerce

In the Union Budget 2011-12, Mr. Pranab Mukherjee, Union Finance Minister presented various initiatives for the real estate sector, especially

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focussing on affordable housing. Some of these initiatives are listed below:

Increasing the limit on housing loans eligible for a 1 per cent subsidy in interest rates

Widening the scope for housing under "priority-sector lending" for banks, making interest rates cheaper on them

Allocating substantial amount to the Urban Development Ministry for spending on extension of Metro networks in Delhi, Bengaluru and Chennai

Earmarking US$ 20.03 million for the urban infrastructure

development project. The Urban Development Ministry received US$ 1.5 billion, an increase of US$ 68.53 million from the last fiscal 201011

2.3) KERALA SCENARIO Kerala is a beautiful greenish state situated in southern part of India. Till now we can see the flow of money from other sources to real estate industry. Investing money in land and properties is benefited not only as an asset but also as a deposit for future. Comparing to other investing methods, real estate seems to be more rigid and free from high fluctuations in exchange rate. Economic specialists recommend youngsters to invest their money in solid assets like land, house, buildings etc compared to investing money in share markets. If you are not ready to participate in high risk business like share and equity markets, the best choice is real-estate business.

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In India one of the major destinations for real estate companies is Kerala right after major metro cities. It is because of some of the following reasons. * Growth of tourism in Kerala * Flow of NRI (Non-Resident Indian) money to this state * Growth of IT and IT related services in Kerala * High human density Kerala is one of the top rated tourist hub in International tourism map. If we compare the overall foreign visitors who came to India, Kerala enjoys the major share of it. Warm and pleasant climate, hill stations, beaches and back waters of Kerala attract visitors and the number of them increases per year. So investing money in acquiring properties in tourist places in Kerala is a new trend we can see. Another reason for the sudden growth of real-estate in Kerala is the huge flow of NRI income. Kerala is the highly literate state in India and most of the youth is employed in United States, European couturiers and in Middle East. The money send by them is mainly used to purchase land and buildings. This phenomenon is one of the major backbones of realestate industry in Kerala. After tourism and NRI income, IT is the next major source of income in Kerala. In recent years Government of Kerala is promoting IT industries in Kerala and many new companies started their operation in Kerala. Introduction of major IT cities encourage the investment of money in acquiring lands near them.

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The state began witnessing intense construction activity three decades ago, fuelled by massive inflow of funds from migrant citizens working abroad, mostly in the Gulf countries. Builders soon stepped in with offers of modern bungalows, villas and flats. As foreign remittances grew, the demand for luxurious abodes rose. Some big players then entered the scene to cater to the high-end market. Real estate operators started grabbing property, pushing up land prices. When the financial markets crashed, expecting a fall in the demand for costly homes, many builders switched to construction of budget flats. The appearance of advertisements offering world-class villas and apartments indicates that the real estate business is again on the upswing.

According to industry sources, the quick turnaround was made possible by the improved liquidity resulting from steps taken by the central government and the Reserve Bank of India to tide over the economic crisis. They claim that speculators, who were very active before the economic downturn, have withdrawn from the field. The middlemen have also disappeared. As a result, they now deal only with genuine buyers. Banks have helped in the recovery process by holding interest on housing loans at low levels, especially for small, short-term borrowings. The State Bank of India group, for instance, has been charging an interest of only eight per cent in the first year. In the second and third years a higher rate of 9 per cent will apply on loans of up to Rs3 million and of 9.5 per cent on loans exceeding Rs3 million. The borrower has the option to stay on 8 per cent interest for two more years, and then move to floatingrates.

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In Thiruvananthapuram and Kochi, apartment builders, with their eyes on high-earning professionals, have gone in for projects close to information technology parks and hospitals. The big builders, who were only operating in the cities and their immediate vicinity earlier, have now started moving into smaller towns which are flush with money like Kottayam, Thiruvalla, Kannur and Thalasseri. The industry has begun aggressive promotional activity abroad. Last month the states builders organized a Property Expo in Abu Dhabi, where they sought to put across to non-resident Keralites the message that high living does not cost the earth and that the right time to buy property is now. Much of the construction activity in the recent past has been along the waterfront. Apart from apartment buildings, many tourist resorts have also come up close to the water bodies which give Kerala its distinct identity as a must-see destination. Environmentalists have voiced concern over the impact of large-scale construction on the regions fragile ecology. The Indian Green Building Council, which has been promoting environmental awareness in the industry, has set up a centre in Kochi. Some builders are already claiming that their projects are in tune with the green philosophy. While there is no reliable data on the size of the real estate sector, claims by builders indicate it is huge. A three-year-old firm, which has won this years national Emerging Developer of the Year Award, says it has completed 15 mega projects so far and has 11 on hand. At the lower end, builders are offering affordable homes for Rs1 million to Rs2.5 million. At the higher end there are super -premium condos of 2,500 to 5,000 square feet in the price range of Rs100 million to Rs250 million. Several builders are said to be planning to mobilize additional capital from the open market to be able to expand their
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operations while the boom lasts. According to official statistics, more than 705,000 families in the state are homeless. Of them, about 333,000 are both landless and homeless. More than 372,000 have land but not homes. The housing scene testifies to the alarming growth of disparity in Kerala society. Real estate agents are grabbing farmlands and islands with the tacit support of the political establishment to build apartment complexes even as thousands of landless families, mostly Adivasis and Dalits, are clamouring for land to cultivate.

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CHAPTER-3 COMPANY PROFILE

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3.1) THE MIR GROUP The Russian word, Mir, means peace & prosperity and the essence of these values are always reflected in the groups philosophy to foster a peaceful, positive impact on the environment and build prosperity in the world through ethical codes of business practice. The multi-faceted Mir Group is one of the leading and fastest growing business houses in South India. Spearheaded by a team of enterprising businessmen in India, Russia and the Middle East, the Group is engaged in diverse business sectors such as Real Estate, Project Management & Consultancy, Tourism, Hospitality, International Trade, Biotechnology, Infrastructure, Energy solutions and Education. Headquartered in Cochin, Kerala the Group directly employs close to 350 professionals in India and enjoys a wide network of operations in the country. Mir Group also has a strong presence in UK, USA, Middle East, Europe & other Asian countries with innumerable associates across the globe. Within the last five years of its operation, the Group has witnessed substantial growth in all areas of business operation and has recorded an aggregate annual turnover of INR 250 Crore within a short span. Mir Group's well-earned reputation is based on time-tested corporate values, which includes strong adherence to ethical codes of business, social consciousness and responsibility, commitment, integrity and fair relations with both customers and employees. The various businesses under MIR group include.

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3.2) COMPANY OVER VIEW I. Holistics MIR HOLISTICS It owes its origin to the vision and deep commitment to spread natural health, based on Ayurveda, Indias 5000 year old science of good health and well-being of body, mind and soul. MIR Holistics is based in Kerala, India. A land, blessed by thousands of herbs where the practice of Ayurveda thrived. MIR has also got its full-fledged operations in Moscow, Russia. Focus of MIR Holistics is into developing patented medicines based on Ayurveda and tour operations. MIR Holistics Tour division offers you wide range of travel and tourism related services in Kerala & South India. Our quality and reliable services includes well tailored packages within the limits of your budget. Working together we give you that special trip which will be a most reliable, efficient and exquisite tour of Kerala. a) Hospitality MIR HOTELS & RESORTS Mir Hotels and Resorts is the hospitality vertical of Mir Group, one of the fastest growing, diversified business groups in India. The company currently manages a chain of resorts, service apartments, business and budget hotels under the brand, and presently owns two resorts at Alleppey and a business hotel at Cochin. The company is in the process of acquiring properties at other leisure destinations in India and will soon build and operate two premium business class hotels in Bangalore and Jubail in Saudi Arabia.

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Respect for the environment has always been the cornerstone of the company's corporate philosophy and they are committed to using the state of the art best practices to achieve environmental sustainability in and around there properties.

Kayaloram (Alleppey)
Classified as a heritage resort by the Government of India, Kayaloram Heritage Lake Resort is one of the few prevailing architectural marvels in Kerala that abounds in rustic beauty and offers all the luxuries of a modern getaway resort. With the enchanting Lake Vembanad at one end and the refreshingly green paddy fields of Alleppey at the other end, Kayaloram is an ideal holiday spot to enjoy a memorable rendezvous with nature at her best.

Park Central (Cochin)

Park Central, the Premium Luxury hotel is a modish piece of creativity adding feather to the cap in the commercial capital. The hotel caters to the needs of the Business Travelers and the Pleasure Seeking Tourist alike. It is an ideal venue for conferences/ exhibitions/meetings/parties for up to 750 persons. It has well furnished guest rooms, a multicuisine Restaurant and a Business Center. Its elegant decor, fully airconditioned interiors and location advantage makes it a much sought after venue.

b) Tourism Until the early 1980s, Kerala was a relatively unknown destination, with most tourism circuits concentrated around the north of the country. Aggressive marketing campaigns launched by the Kerala Tourism Development Corporation the government agency that
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oversees tourism prospects of the statelaid the foundation for the growth of the tourism industry. In the decades that followed, Kerala Tourism was able to transform itself into one of the niche holiday destinations in India. The tag line Kerala- God's Own Country was adopted in its tourism promotions and became a global super brand. Kerala is regarded as one of the destinations with the highest brand recall. In 2010, Kerala attracted 0.66 million foreign tourist arrivals.

MIR TRAVEL & TOURS Mir Tours is the travel & tourism vertical of the multi-faceted business house Mir Group. The company has been able to carve a niche for itself in the competitive tour industry and emerge as a leading travel boutique and tour operator in India, specializing in inbound and outbound tours, experiential travel packages and MICE operations. Within a short span of 2 years, Mir Tours has earned substantial brand loyalty and recorded a growth rate of more than 300% annually. MICE MICE segments are rapidly emerging as significant contributors to the bottom lines of tourism and hospitality sectors globally. Businesses and corporate organizations the world over have realized the benefits of MICE initiatives that organize business meetings, international conferences, conventions, incentive packages, events and exhibitions. Meetings, conferences and conventions can be taken out from the limiting environments of offices and boardrooms to the most exotic locations in different parts of the world, adding a spark to deliberations. Events can be added on to break the ice and help in team building or help promote products. While achieving targets is the primary objective for any company, it is equally important to reward the people responsible for achieving those targets with incentive programs that have been proven to be excellent motivators for both employees and channel partners. Further, incentives to show clients appreciation for their patronage lead to a stronger working relationship. Indias historical legacy, stunningly
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beautiful geographical beauty and diversity have all made it a sought after tourist destination and an extremely attractive proposition as a MICE destination as well. As your MICE facilitator of choice, Mir Tours will seamlessly orchestrate every aspect of conducting an event: choosing a great location, arranging world class hospitality and state of the art infrastructure. Our intimate understanding of global and domestic destinations, reliable vendor chain and partners, and the experience of working with some of the most demanding business entities has enabled us to match the expectations of our clients in successfully providing full spectrum MICE services both, within India and globally.

OUR SERVICES Over 2 million travelers have explored unseen destinations with Mir Tours. They so much enjoyed the taste of heaven they had never known before, that 99 percent say they will travel with Mir Tours again. Mir Tours endeavors to bring you some of the most beautiful places on earth that has never been touched by a human soul. Couple it with some of the most innovative itineraries ever crafted and you have the perfect recipe for a holiday in paradise. They so much enjoyed the taste of heaven they had never known before, that 99 percent say they will travel with Mir Tours again.

Mir Tours endeavors to bring you some of the most beautiful places on earth that has never been touched by a human soul. Couple it with some of the most innovative itineraries ever crafted and you have the perfect recipe for a holiday in paradise. Mir Tours endeavors to bring you some of the most beautiful places on earth that has never been touched by a human soul. Couple it with some of the most innovative itineraries ever crafted and you have the perfect recipe for a holiday in paradise.
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a) Accommodation b) Culture & Cuisine c) Transportation d) Special Arrangements e) Ground Assistance f) Conferences & Events

II. Consultants MIR PROJECTS & CONSULTANTS Ever since inception, Mir Projects & Consultants has been an industry leader in catering to the Project Management & Consultancy requirements of clients for a diverse range of sectors. It offers efficient consulting services in the Residential, Industrial, Infrastructure as well as Transportation sectors for the development of seaports, airports, heliports, railways, roads, highways, bridges, etc. Its efficient team of experts and professional staff believe in fostering a successful partnership with clients by offering consistent services that surpass all expectations. Apart from having state-of-the-art infrastructure and cutting-edge project

management tools, it has formed strategic alliances with global consulting giants to further accentuate their knowledge-base and enhance their service delivery capabilities across the Asian region. A large number of in-house experts, consultants and external associates make up the expertise and the team behind this company to efficiently manage successful large projects across various geographical regions. Over the last few years the company has been contracted and has successfully delivered Techno-Commercial Feasibility Reports for
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various port related development assignments under the Public Private Partnership (PPP) model. This experience has firmly established the company as a leading Consultancy organization in the development of Greenfield Ports under the PPP model of investment. The company has already completed feasibility studies to an estimated value of around Rs.1500 crores and ongoing projects of around Rs.4000 crores in the Port sector alone. The value of projects being undertaken in the Transportation Sector is to the tune of Rs.2500 crores and several projects in various other sectors totaling to around Rs. 1300 crores.

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Some of the projects are: Sl.no Feasibility Study 1 International Cruise Terminal cum Public Plaza 2 Development of Waterfront West of Breakwater 3 Mechanized Coal Handling Terminal- Berth 11 Development of Vasco Bay Transaction Advisory ServicesNagapattinam Port Development of Tadri Port Location Client Kochi, Kerala, Cochin Port India Trust Period March 2007 to March 2008 Mormugao Port October Trust 2008 to December 2009 Mormugao Port FebruaryTrust June 2010

Vasco, Goa, India

Vasco, Goa, India

4 5

Vasco, Goa, India

Mormugao Port Ongoing Trust

Nagapattinam, Tamil Nadu Ongoing Tamil Nadu, Maritime India Board, Chennai

Karnataka State Ongoing Industrial Investment & Development Corporation TABLE-2 Projects done by MIR Consultancy Source (Company Manual)

Tadri, Karnataka

III. Life Science Bio-technology offers tremendous economic, medical and agricultural potential for India and is poised to take off the way Information Technology did 15 years ago. Undoubtedly, the biopharmaceutical industry is one of the fastest growing industries in the world and is responsible for generating many curative therapies.

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 BIOCURE HEALTHSCIENCES LTD

It is a research and development bio-technology company with an extensive scientific network and profound professional talent comprising prominent internationally recognized biomedical scientists. BHS-Biocure Healthscience Ltd, is a bio-technology venture rapidly taking shapes in Banglore,India with an innovative and promising portfolio of products and technologies. BHS is a jointly promited by a group of enterprising businessmen in India and BioPharm Biologics Inc., USA and is actively supported by leading business personalities and scientists from India and abroad. There are countless diseases which have no therapy or at best poorly effective therapies.BHS aims to bring a new generation of logically designed, generic biopharmaceutical drugs, developed through genetic engineering technology or gene cloning, to address this issue. BHS has identified 5 key drivers, which would help its customers and shareholders and arm it with a competitive positioning. RESEARCH & DEVELOPMENT BHS has charted out an aggressive research and development programmed that will be supported by the extensive scientific talent of BioPharm Biologics and aimed at developing patented drugs for diseases with an unmet need. Innovation will help BHS to meet the challenges of the new patent laws in India.

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IV. Education MCME (Mir Centre for Management Excellence) Mir Education Foundation (MEF) promotes education through a series of innovative approaches. MEF presently undertakes three major activities in the areas of professional management education, overseas education consultancy and clinical research training.

MIR-IFCR(Mir Inter-Ed Faculty of Clinical Research)

Mir Group - and the leading clinical research training institute - MirIFCR has joined hands to offer a new career opportunity in clinical research to students and medical professionals across India, thereby meeting the ever-growing demands of the research industry all over the globe. As a centre of academic excellence and a temple of higher learning, Mir-IFCR trains graduates in medicine, science and other allied sciences to become competent researchers, well-equipped to challenge the global standards of an ever-growing industry. Mir-IFCR India is an internationally accredited clinical research training and educational organization. Mir IFCR graduates 120 highly skilled specialists annually in clinical research - all of whom secures and agrees to job offers prior to the end of their graduation at Mir-IFCR. Within a short span of 5 years, Mir-IFCR has trained 19 batches of students and professionals and offered all its scholars excellent placement even before the actual completion of the course.

36

 Partners and Affiliations Mir-IFCR-India partners with some of the most respected education, pharmaceutical, biotechnology, medical, and healthcare organizations globally. Prior to agreeing to a partnership, Mir-IFCR India makes sure each organization meets the stringent standards Mir-IFCR India has established for itself, its staff, its students, and its partners involving but not limited to ethics, professionalism, philanthropy, and education. Quality standards and awards ISO 9001-2000 from British Standards Institute (BSI Global London).

37

International Educational Associations

Campbell University, North Carolina, USA Inter-Ed Centre for Foreign Education and Management Training Bournemouth University, UK - (Inter-Ed) Southern New Hampshire University, USA - (Inter-Ed) California Baptist University, USA - (Inter-Ed) University of Findlay, USA- (Inter-Ed) INTI College, Malaysia (Inter-Ed)

Indian University Affiliations

IGNOU, India Goa University, India Sikkim Manipal University (SMU)

Industry Affiliations

Trans Atlantic Spine Inc., FL, USA Alzheimer's & Related Disorders Society of India (ARDSI) AABC Techno park, Trivandrum, The Indian Institute of Arbitration and Management (IIAM), Kochi. Arjuna Natural Extracts, Kerala ICRC- Kard Scientific India

Research

Hospitals

VNH Maternity & Childcare Centre, Trivandrum St.Marys Hospital, Thodupuzha, Kerala Krishna Hospital, Ernakulam, Kerala Rajas Dental College, Nagercoil, Tamilnadu Roshan Eye Care Hospital, Tripunithura, Kerala Malabar Institute of Medical Sciences, Calicut ,Kerala Little Flower Hospital , Angamaly, Kerala MAGJ Hospital, Mookannur, Kerala Indira Gandhi Co-operative Hospital, Ernakulam, Kerala

Figure-2 (MIR-IFCR associates) Source (Company website)

38

V. Energy & Solution MIR ENERGY SOLUTIONS As global specialists in energy management solutions, we have been providing innovative energy solutions and products to various engineering segments (Power Sector, Avionics, Aerospace, Industrial Automation, Automotive and so forth) for over a decade. Our efforts are bolstered by a full-fledged, in-house electrical engineering division, that helps address the specific needs of each vertical right from R & D to manufacturing. With a project management and consultancy division that has over 20 years of experience in energy infrastructure development projects, our expertise extends beyond excellence. All products and solutions of Mir Energy meet international quality standards, thereby ensuring greater reliability. Empowered by a highlyskilled engineering team Mir Energy is committed to successful execution of projects, in terms of technical delivery as well as management expertise. Being true to its corporate vision of Endurance and Sustained Growth, Mir Energy is all set for a huge leap forward in making a world a greener place to live in.

Products & Solution

1. Automated Metering Infrastructure Development(AMI) Automated metering infrastructure (AMR) is described as a modernized transmission and distribution system that uses digital technology as well as modern IT infrastructure to increase overall system reliability, efficiency, safety and customer satisfaction. The core of the system is a network of real-time, two-way integrated communication system and digital meters that offers communication facility with state-of-the-art IT infrastructure and Utility Software.
39

Since 2004, Mir Energy has been a leading player in the, AMR market providing the industry with innovative products and solutions. Mir Energy has comprehensive in-house capability right from system study to turn-key project execution, with active participation from all technology providers Mir Energy Products and Solutions for AMI. a. b. c. d. e. f. Data Concentrator Units Head End Systems Meter Data Management Software GPRS Modems PLCC/RF Modems Utility Software for Billing, Energy Audit, Network Management, Demand Response, Energy Trading. g. Requirement Analysis, System Design and Project Planning h. Turn-key Project Execution i. Project Management and Consultancy 2. Street Light Management Infrastructure Street Lights are a vital service area for any Municipality or local governance body which requires proper operations and maintenance. Improper functioning of the system right from energy consumption to poor management will result in huge expenditures for operation and maintenance. Mir Energy Street Light management System brings in state-of-theart solutions for the following areas: Improve the overall efficiency of system which leads to substantial savings in energy consumption in street lighting system. Reduce operation and maintenance costs. Improve environmental conditions. Improve maintenance and operation of the facilities. System Features I. II. III. Web based Software for Energy Saving system, Control System etc. Remote wireless time based switching On/OFF system. Wireless energy Tracking and Planning.
40

IV.

Precise monitoring of Energy Consumed in lighting Monitoring of faulty street lights and fault repair and servicing system in real time.

Mir Energy Solutions for Street light Management LED-based Lighting Solutions Solar-powered LED Lighting Solutions

Feeder Controller Systems

GPS/Light Sensor/RTC-based On/Off Timer Systems Web-based Remote Lamp Management System System Design and Planning Project Management and Consultancy

Figure-3 (Mir Energy Solutions for Street light Management) Source (Company Manual) 3. Remote Base Station Infrastructure Management System With fastpaced technological advancements in wireless communication, there is now a greater demand for more reliable technology for transmission equipment. One of the most important requirements for the wireless communications industry is effective management of base stations for communication purpose. In order to provide the best transmission service to customers, base stations need to be spread over a large area. A large network of base stations requires a secured, stable and effective management system to ensure quality transmission. The solutions and products offered by Mir Energy, ensures real time monitoring and control of the major components that come under a standard base station.
41

Mir Energy Products and Solutions for Base Station Monitoring I. II. III. IV. V. VI. VII. Base Station RTU Energy Meters Sensors Fuel Level Indicator Web-based Centralized Base Station Monitoring System Web-based Remote Lamp Management System System Design and Planning Project Management and Consultancy

VI. International Trade MIR ENTERPRISES Its based in MOSCOW; Russia is actively involved in International trading with a major focus on crude oil and coal. Focus of MIR Holistics is into manufacturing and marketing of herbal medicines as well as into tour operations.

42

3.3) MIR REALTORS MISSION & VISION ENVISIONING ECO-FRIENDLY LIVING SPACES

Our vision entails the development of eco - friendly self-contained living spaces that are in perfect harmony with nature and in adherence to the objectives of our Quality Policy:

Swimming Pool with separate toddler's pool Badminton Court Children's play area with equipments Gust parking Round the clock security and guard room Automatic generator back up for common facilities and street lighting Landscaped Lawn with Party Pavilion

VITAL STATISTICS Name Address : MIR Realtors Private Limited : 1st floor, M M Building, Kalabhavan Road, Cochin Registered Office : 1st floor, M M Building, Kalabhavan Road, Cochin Nature of Business Nature of Product : Construction : Apartments & Villas

43

Brand Name Total Capital Employed Annual Sales Turnover M.D Auditor Bank

: MIR REALTORS : Rs 20 lakh per month : 48 crores : Arun Kumar : Kavoor & Company : Federal Bank, Bank of India, ICICI

LEGAL FRAME WORK OF THE ORGANIZATION Legal frame work of the company means the rules and regulations which governs the company. To be more precise it means the rules and regulations that each and every Individual employee or employer of an organization should perform. MIR Realtors has a well structured legal frame work which can be considered to be the most important factor for the success of the organization. A standing order has been issued to each and every members of the organization. This standing order prescribes the manner in which every member should perform; it also contains a detailed report on the rights of each individual in the organization. An employer cannot dismiss a particular employee in the organization without following certain procedures and they must act within the legal frame work of the organization. It contains details regarding how an employee should perform in the organization or details of how an employee must behave in the organization.

44

A) RESPONSIBILITIES AND AUTHORITIES I. COMMON RESPONSIBILITY OF ALL STAFF Ensuring that quality policy and objectives are implemented and maintained Following the quality system as applicable to their area of operation. Ensuring the latest documents is referred for working. Ensuring that only product that meets all specifications is allowed to the next stage. Taking appropriate Corrective Action on discrepancies. Maintaining relevant quality records as evidence of proper functioning of the quality system. Taking corrective action on internal quality audit findings without undue delay. Take action and maintain appropriate records on achievement of the departmental objectives.

II. RESPONSIBILITIES OF MANAGEMENT REPRESENTATIVE Ensure that a documented quality system in accordance with ISO 9001:2008 is developed established and maintained. Maintaining master copy of all system documents, issuing controlled copies to recipients. Ensuring promotion of awareness of customer requirements throughout the organization. Reporting to the management on the performance of the quality management system and any need for improvement.

45

 Planning and coordinating Internal Quality audits and follows up audits. Planning and organizing management review meetings and follow up action on decisions taken in such review. Co-ordination with external agencies like certifying bodies on matters related to the quality system.

ISO certification MIR Realtors got ISO 9001-2008 certification. They are committed to Construction of Residential & Commercial Buildings. MIR Realtors is the leading builders with ISO 9001 - 2008 in South India for Townships. Currently there are doing three major township projects in Kerala at Cochin, Trivandrum, and Kannur. All its Projects give important to the nature also, for this they are give their brand under the name Eco-friendly.

46

 OBJECTIVES & TAGETS Effective date: 1/4/2012 to 31/3/2013

DEPART MENT

Parameter Strike rate (conversion of enquiry)

Yardstick No: of sales closed/ no: of enquiries where at least one site visit has occurred Adherence to sales budget No: of demand notes aged above 60 days as on month end Excellent rating in feedback form No: of referrals from customer Net sales

Target 25%

Due Date for achievement 31-3-2013

Report frequen cy Monthly

Sales closing Timely collection Marketing Customer satisfaction Referrals Cumulative net sales Inventory in hand

100% Zero

31-3-2013 31-3-2013

Monthly Monthly

100% 2nos. 4 sales per branch month 50

31-3-2013 31-3-2013 31-3-2013

Monthly Monthly Monthly

Cancellations

Drawing amendments

Timeliness of drawings Design Cost saving

Retention of employees Suggestion HR Training

Inventory in hand during the month end Cancellation during the financial year No: of amendment in drawing due to errors pointed out from site Delay from release schedule in release of drawings Cost saving due to design optimization without compromising Qty Attrition rate No: of suggestions implemented Adherence
47

31-3-2013

Monthly

Zero

31-3-2013

Monthly

Zero

31-3-2013

Monthly

Zero

31-3-2013

Monthly

5%

31-3-2013

Monthly

5% 1 per year employee 100%

31-3-2013 31-3-2013 31-3-2013

Monthly Monthly Monthly

Man days of training Timeliness

Projects Safety Rework Cost control Waste control

Timely purchase

Purchase and stores

Loss / damage in stock Average inventory levels Cost saving in purchase tiles/sanitary fittings Timely service

Man days of training per employee per year Days of delay in completion of milestones as per working programme No: of accidents Qty of rework done Variance above budget Steel waste Cement waste Tile waste No: of delays reported in site due to non availability of materials Quality booked as damaged / lost No: of days consumption cement and steel Saving from budget

3 man days Zero

31-3-2013

Monthly

31-3-2013

Monthly

Zero Zero 5% max 3% 2% 5% Zero

31-3-2013 31-3-2013 31-3-2013 31-3-2013 31-3-2013 31-3-2013 31-3-2013

Monthly Monthly Monthly Monthly Monthly Monthly Monthly

Zero 15 days

31-3-2013 31-3-2013

Monthly Monthly

5%

31-3-2013

Monthly

After sales service Service rework

Service rework

Legal

Legal pending matters

Emergency Routine No: of calls where service rework was necessitated Maintenance cost of handed over projects No: of legal issues remaining unresolved at month end Delays in calibration No: of repetitive defects Delay from patrol inspection plan Delays in site due
48

24hrs 48hrs Zero

31-3-2013 31-3-2013 31-3-2013

Monthly Monthly Monthly

0.5% of project value Zero

31-3-2013

Monthly

31-3-2013

Monthly

Calibration QC Repetitive defects Patrol inspection Electrical Timeliness

Zero Zero Zero Zero

31-3-2013 31-3-2013 31-3-2013 31-3-2013

Monthly Monthly Monthly Monthly

Plumbing Fire Lift Gas STP

Timeliness Timeliness Timeliness Timeliness Timeliness

PR Liaison

to electrical work Delays in site due to plumbing work Delay in site due to fire related work Delay in site due to lift related work Delay in site due to gas related work Delay in site due to STP related works No: of delays in site due to public/regulatory issues

Zero Zero Zero Zero Zero

31-3-2013 31-3-2013 31-3-2013 31-3-2013 31-3-2013

Monthly Monthly Monthly Monthly Monthly

Zero

31-3-2013

Monthly

TABLE- 3 Objectives and targets for various departments Source (Company Manual)

49

3.4) COMPANY PROFILE Mir Realtors is an ISO-certified eco-friendly builder. The company's signature township "Green Metropolis" designed on 6 acres of green expanse at Kakkanad, Cochin is the first eco-friendly self-contained township in Kerala. Located in close proximity to Smart City, the project comprises of 400 dwelling units and a 32-storeyed twin tower apartment complex, the tallest in South India. Mir Realtors is also constructing the largest township in Trivandrum "The Greens" on 11 acres of lush greenery at Karakulam near Peroorkada. Located on the state highway to Nedumangad, the proposed project features 364 dwelling units and exclusive Pool Villas. The third project is an exclusive beach township at Kannur, the mystic land of looms and lores. Christened as "Sailors Cove", this township is the first and largest in the city and features the tallest 27-storeyed twin towers in Kannur. Living in a township built by Mir Realtors gives you all the joys of gated community living. World-class amenities are a part and parcel of Mir Realtors' large residential townships. Club houses, jogging tracks, pools, crches, cafeterias, guest suites, drivers' accommodation, medical clinics and bank ATMs among many others serve to enhance the lifestyle of residents. 24 hour high-speed broadband connectivity makes you a global resident! A lifestyle that would have required time, effort, costs and travel has all been made available within the township. Neighborhood harmonies within these townships create more healthy relationships and go a long way in bringing about a harmonious co-existence of likeminded people.

50

1) Various Ongoing Projects under MIR Realtors A) Cochin MIR Green Metropolis - Jade Heights Tower 1 & II The fresh, vibrant and 32-storeyed Jade Heights is the tallest twin tower in South India. Jade Heights is the last word for luxurious community living in apartments, where everything is an extravaganza - right from the exquisite design and spacious interiors to ample lighting and ventilation with all quality fittings. The floor plan takes in uniquely designed apartments on each floor, with penthouse option included on the top most floors. Parking facility for the residents has been provided making enough room for leisure on the ground level. Jade Heights too upholds a quality unique to Mir apartments. The residents can enjoy maximum privacy and security, as no two windows of opposite apartments overlook each other. Another desirable factor is that the apartment block provides separate access area for servants. In short, Jade Heights is the perfect choice for those who value Quality Living in Apartments.

SPECIFICATIONS STRUCTURE ROOMS RCC frame structure with well designed foundation to withstand seismic and wind forces. Walls with CC Blocks plastered to smooth finish. Spacious rooms with proper ventilation, foyer, separate living and dining area, independent balconies. Vitrified flooring for apartments, joint-free ceramic tile for toilets and balcony. Platform done in quality granite with stainless steel sink. 2 feet dado above granite counter, Aqua Guard point. Concealed plumbing with PVC pipes, provision for
51

FLOORING KITCHEN

TOILETS

Geyser, Exhaust, and Mixer Tap in all bath rooms. CP fittings of Jaquar or equivalent, Parry ware or equivalent WC. Servants toilet with European Closet, Ceramic anti- skid tiles for floors and glazed tiles for walls up to 7 feet height. Teak main door moulded paneled hard wood for interior doors (at Cochin / Kannur townships). Anodized aluminium windows with safety grills. Putty finished/plastic emulsion in all rooms. Enamel painting for doors/window and safety grills. Three phase concealed wiring using ISI approved cables, Siemens/ Crabtree or equivalent switches with ELCB and MCB. KWA / treated ground water & rain water harvesting.

WOOD WORKS WINDOWS PAINTING

ELECTRICITY WATER GAS SUPPLY

Provision for centralized gas supply. (only for apartments) POWER Generator backup for elevators, common lighting, BACKUP pumps and 500W power limit points for the apartments. FIRE SAFETY Fire safety features as per standards. FLOOR ACCESS Three fully automatic, 8 passenger, high speed elevators, one 13 passenger elevator. COMMUNICATI Provision for Cable TV connection in Drawing and ON Master Bed Room. INTERNET Broadband connectivity in all apartments. CAR PARKING Covered car parking provided at additional cost. CAR WASH Exclusive Wash Area in Ground Floor. TABLE- 4(Specifications in JADE HEIGHTS) SOURCE (Company Manual) B) Trivandrum The Greens Haritham The apartments comprise of four 15 storied blocks. Each block is named as - Haritham, Prakrithi, Sangamam and Viharam. The interiors are spacious and meticulously planned so as to optimize natural ventilation, to provide ample lighting, enchanting views from the balconies and fittings of the highest quality. Residents will enjoy utmost privacy as
52

none of the windows of the apartments look into each other. Each apartment is provided with a separate access area for servants. A spacious parking lot, unique to each block, is included on the groundfloor. SPECIFICATIONS CAR PARKING Covered car parking provided at additional cost. CAR WASH AREA Exclusive Wash Area in Ground Floor. COMMUNICATION Provision for Cable TV connection in Drawing and Master Bed Room. Three phase power supply with concealed wiring ELECTRICITY in PVC conduits controlled by DB, ELCBSiemens/Crabtree or Equivalent and MCB of Havells or equivalent. Elegant modular switches of Siemens/Crabtree. Independent connections. FIRE SAFETY Fire safety features as per standards. FLOOR ACCESS Two fully automatic, 8 passenger, high speed elevators, one 13 passenger elevator, one common staircase and one fire escape staircase. FLOORING GAS SUPPLY Vitrified flooring for apartments. Provision for centralized gas supply. (only for apartments) KITCHEN Platform done in quality granite with stainless steel sink. 2 feet dado above granite counter, Aqua Guard point. PAINTING Putty finished/plastic emulsion in all rooms. Enamel painting for doors/window and safety grills. POWER BACKUP Generator backup for elevators, common lighting, pumps and 500W power limit points for the apartments. WATER Own water treatment plant. Source of water through bore/Open wells. Rain water harvesting for recharging of open wells with adequate storage facility through underground and overhead tanks. WOOD WORKS Moulded Panelled /Hard wood doors. TABLE- 4(Specifications in Haritham) SOURCE (Company Manual)

53

C) Kannur Sailors Cove Situated adjacent to the most popular beach front location in Kannur, Sailors Cove commands a towering presence with 27-storey twin tower apartments, panoramic sky villas, posh pent houses and ultra-modern duplex. Claimed to be the largest residential project here, this beach-front self-contained township captures the essence of gated & guarded community in the land of looms and lores. The project, with an anticipated investment of Rs.100 crore, will include 27-storeyed twin apartment towers offering a variety of dwelling units including apartments, duplex and penthouses as well as a host of amenities including swimming pool, drivers' dormitory, guest suites, business centre, super market, cafeteria, doctor's clinic, day care and beauty parlour.At 27 storeys, this is the tallest twin tower apartment complex in Malabar region. Comfortable elegance combined with amazing views of the beach. There is ample space for duplex and spectacular views for penthouses. The first-of-its-kind sky villas are crafted with terraced gardens, bright living spaces and stunning sunset views. SPECIFICATIONS STRUCTURE RCC framed structure designed to withstand seismic and wind forces with concrete block masonry walls, plastered with cement mortar. Covered car park with additional cost. Superior quality vitrified tile flooring and skirting. Putty finish wall with Plastic emulsion paint for walls. Superior quality ceramic anti-skid tiles for floors. Superior quality glazed tiles for walls up to 7 feet height. Concealed plumbing with PVC pipes, provision for Geyser in master bed toilet. Wash Basin EWC - Cera / Parryware / Hindware or its equivalent. Chromium plated taps, shower fittings
54

FOYER/LIVING/ DINING/BEDROOM S TOILETS

KITCHEN

WORK AREA

STAIRCASE

COMMON AREAS BALCONIES/ ULTILITIES JOINERY

FLOOR ACCESS LANDSCAPE WATER

COMMUNICATION

and health faucets (Jaquar/ Hindware/Parryware or equivalent). Elegant water proof door with solid frame/ FRP shutters. Superior quality vitrified tile flooring. Superior quality ceramic tiling above kitchen slab up to 2 feet height. Platform done in quality granite with stainless steel sink with drain board. Plastic emulsion paint for walls. Ceramic tile flooring. Open Balcony. Plastic emulsion paint for walls. Provision for sink and washing machine point. Open Staircases/ Fire escape stair. Superior quality stair case tile. MS handrail/ Stainless steel handrail as per design. All walls painted with emulsion paint. Vitrified tile flooring and skirting. Emulsion paint for walls. Superior quality ceramic tile flooring and skirting. MS handrail as per design. All walls painted with emulsion paint. Elegant moulded front door with paint finish, with quality lock. Internal doors - moulded painted door. High quality fittings for all doors. Aluminum glazed sliding windows made from specially designed and manufactured sections. High speed lifts. One service elevator . One common staircase. One fire escape staircase. Designer landscaping around the building. Drinking water from Public Distribution System supplemented by treated water (Subjected to availability at site). Additional source of water treated water through bore wells/ Open wells. Rain water harvesting for recharging of bore wells and adequate storage facility through underground and overhead tanks. Provision for cable TV connection in each apartment. Telephone points in living and master bed room. Broadband connection. Telephone point provided in living and Master bedroom. TV point provided in living and Master bedroom. Intercom facility provided from security cabin to each Apartment (only point is provided, no instrument
55

ELECTRICAL

is included). Standby power (Generator back up) of 500 Watts per apartment with flexibility to use any light points and 5A Points only. Power connection for split AC in Master bed room and dummy points in other bedrooms. KSEB Power supply with 3 phase. Standby power (Generator back up) for common facilities. Switches and accessories made out of Poly carbonate white plastic modular type as per ISI and IS specifications.

TABLE- 4(Specifications in Sailors Cove) SOURCE (Company Manual)

56

 AMENITIES AT ALL TOWNSHIPS

Health club Multi-gym Health & Beauty Bouquet Jogging Track Swimming pool Yoga and Holistic centre

Utility Bouquet

Waiting room Library 24 hour power, water, security Fully furnished guest suite
Centralized gas supply (only for apartments) Dormitory with lockers for drivers

Executive Bouquet

Conference Hall Reading Room Intercom

Entertainment Bouquet

Amphitheatre Open air party area on terrace Snooker, Cards and Carom Table tennis Kids play area

FIGURE-4 (AMENITIES AT ALL TOWNSHIPS) SOURCE (Company Brousher)

57

CHAPTER-4 ORGANIZATION CHART

58

MD COO ManagerLaisoning & Admin Branch Manager M.R ISO Executive - ISO Coordination & Legal Admin Officer ManagerLegal Laison Officer DirectorProjects Manage r- MEP Manager Planning Project Engineer Coordinati on Design Assistan t Site Execution team Quantity Surveyor GMMarketing HeadFinance & Admin GMPlanning AGMHR AMHR SR. Manager- Exe- HR Costing & Exe- HR Budgetin g Sr ExeInternal Audit DY ManagerCorporate Comm Manage r Creative Comm MD's(Dy.Manager, AM & Sr Executive coordinations)

Asst Dy Sr. Exe AM Dy Asst ManagerManager AGM Planning HC Manager ManagerSlaes TRV Sales Finance CC Sales COC Kannur Exe & Sr ExeDy AM- CC Asst Sales Manager Sr Exe Manager Manager Accounts Sales Sr. Exe Admin Sales CC Sr Exe ExeAM Purchase Sales/ System Marketing Admin Branch Dy Sr Exe/ Account EDPManager Exe ants Officer Accounts Admin Sr. Exe/ Dy Manager Sr.Exe/ ExeExe Accounts & Front Office/ Accounts Taxation Guest Relation Drivers & Office Assistants

FIGURE- ORGANIZATION CHART Source (Company Manual)

59

CHAPTER-5 ORGANIZATION STRUCTURE

60

Organization structure refers to the differentiation of activities and authority roles and relationships. Differentiation means analysis and division of activities and functions in a logical manner into compact the homogeneous jobs. MIR Realtors has the following departments: Purchase Department Projects Department Marketing Department Human Resource Department Finance & Administration Department

Each department has its own function. An absence of any department may seriously affect the whole organization. These departments are functioning interdependently, so there exists a cordial relationship among the employees of the company. This leads to good communication within the organization.

61

5.1) PURCHASE DEPARTMENT

The purchase department plays a very important role in the company and it has its effect on every vital factor concerning the construction, quality, cost efficiency, and prompt delivery to customers. Its function is to procure materials, supplies, services, for favorable terms in accordance with the desired standard of quality. Purchasing is the important function of materials management. The company is having a centralized purchase department headed by the Assistant General Manager (Finance). Under him comes the Manager Account and under him comes the Assistant Manager Purchase. The Assistant manager purchase coordinates the entire purchase activities. In case of local purchase or purchase of minor items which are frequently required, it is the responsibility of him to ensure the timely procurement of materials as per the purchase requisitions issued by the stores when the items have reached the re-ordering level. The Assistant manager purchase reports the details to General Manager.

62

a)

Structure of Purchase Department

Managing Director

Administrative Officer

Assistant General Manager(Finance)

ManagerAccounts

Assistant Manager Purchase

Figure Structure of Purchase Department Source (Company Manual)

b)

Duties and Responsibilities of Purchase Manager

To identify and choose the best suppliers for supplying materials To ensure the quality of materials purchased and procure it at the most economical price To make continuous availability so that there may be uninterrupted flow of material for construction. To make purchases of the right quantity at the right time to keep investment in materials minimum. To purchase proper quantity and good quality material in order to minimize wastage and loss in construction. To develop alternative source of supply so that material can be purchased from those alternative source if a particular supplier fails to supply the material.

63

 To adopt the most advance method of purchase to ensure smooth delivery of material from supplier and to avoid the chances of any dispute and financial loss. To serve as an information centre of the materials purchased its source of supply, specifications and mode of supply. Once order is placed, regular follow ups to be made and timely deliver to be ensured.

c)

Purchase Committee Members COO Director of Projects Concern Project Manager GM Finance Costing & Planning Purchase Department

d)

Purchasing procedure Getting the information from the store keeper. Getting approval from the committee. Exploring the sources of suppliers. Issuing purchase order. Regular Follow ups to be made. Receiving and inspecting materials. Checking and passing of Bills for payment.

64

e)

Flow chart of Purchase procedure

Construction Planning (1)

Purchase Requisition (2)

Committee Approval (4)

Purchase Department (3)

Inspection Report (12)

Purchase (5) Invoice Store (11)

Suppliers (6)

Account department (13) Material (10)

Payment (14)

Material (7)

Receiving Section (8)

Inspection (9)

Figure Purchase Flow chart Source (Company Manual)

65

f)

Purchase Process As per the work order the Civil Engineer or the concern Project

Manager will ask the Store Department to make available of needed goods. By this the store assistance will verify the store against purchase and record it and will be handed over to the Store Keeper. He will send a purchase requisition to Purchase Department showing the quantity, quality, and the time by which the goods are required. After ascertaining the requirements, the Purchase Department will get approval on quote from Reporting Authority, and then go for the Purchase vendors. It has been identified and asked for the quotation from them. Now the purchase department will prepare a quotation analysis based on the quotes received from various vendors/ suppliers, and select the best one, and prepare the purchase order. And this purchase order will be sent to the Reporting Authority for the verification of the quotes and then the order is placed. The details of order placed will be recorded in the purchase order book. If necessary order can be amended- however approval from concern authority is mandatory before amendment is made. The purchase order should be prepared in quadruplicate. One copy should send to the supplier. The second copy should send to the department requisitioning the goods and the third copy to the accounts department and the purchase department should retain the last copy. On receipt of goods, the gate keeper, after examining them properly, should enter the particulars of goods received in the Goods Receipt Note & Stock Ledger. Then, he should send th e goods to the store department, where they are kept; here inspection of inwards materials is done by the concern Project Manager. After receiving the goods, the stores should prepare a Goods Receipt Sheet and send a copy to the purchase department. After receiving the note, the purchase
66

department should compare it with the purchase order to ensure that they are of the same quantity and quality ordered. Then another clerk should check the details of the invoice and calculations made there in. After proper verification, the invoice should be handed over to the accounts department for payment. The accounts department should compare the invoice with the purchase order and verify the calculations. If the goods received are according to the order and calculations found correct, the accounts department should record the same in the purchase book. Then the invoice should be passed for payment. In the case of goods returned to the supplier, a proper record should be maintained in the Purchase Return Book. A credit note should be obtained for the amount and for other allowances claimed from the suppliers. g) Factors considering while selecting supplier

Manufacturing capacity. Product quality Reliability of suppliers. Financial condition of the suppliers. The management of the supply firms. Price quoted. Terms of payment Terms of delivery. Whether the products supplied satisfies all the Specifications

67

h)

Process of selecting the supplier

All suppliers who have supplied the products to their satisfaction as on 01.03.2009 are included in the approved suppliers list based on the past performance. A list of approved suppliers/sub contractors F/MAT/08 is maintained. A project material requirement list F/MAT/01 and a monthly material plan F/MAT/12 is prepared with the help of planning and coordination. New suppliers / sub contractors are registered only after verifying details provided in the registration form F/MAT/09. Trail order and sample verification is done if needed. Suppliers / sub contractors performance in supplying material is evaluated once in six months basis on the parameters of Quality, delivery and response in supplier rating form F/MAT/11. Only suppliers / sub contractors who achieve at least 60% for the individual parameter in the rating are retained in the list.

68

i)

Materials purchased &Major Suppliers

Cement- Dalmiya, Ultra tech ready mix..

Steel- Surya Dev, Tulsiyan...

CP Fitting- Jaquare

Sanitary Fitting- Parryware

Door- Local Parties

Electrical equipment and accessories- Havells, Lagrand

Office stationary- Local Parties

Figure-5 (Materials purchased &Major Suppliers) Source (Company Manual)

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5.2) MARKETING DEPARTMENT

Marketing is the process by which companies determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development. It is an integrated process through which companies create value for customers and build strong customer relationships in order to capture value from customers in return. Marketing is used to identify the customer, to keep the customer, and to satisfy the customer. With the customer as the focus of its activities, it can be concluded that Marketing Management is one of the major components of business management. The marketing department of MIR Realtors is very efficient. It scans the environment, analyses the marketing opportunities, designs marketing strategy, implements and controls all the marketing functions. MIR Realtors enjoys large customer base especially of NRI in which it has high demand. The head of the marketing department is the General Manager (marketing).Under him there are Assistant managers for Trivandrum, Cochin, Deputy Manager for Kannur and Customer care, Advertisement and Sales promotion. These managers are assisted by Marketing Executives and Sales Executive.

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a)

Structure of Marketing Department

GM
Asst. Manager-Sales Trivandrum Asst. Manager-Sales Cochin Deputy ManagerSales Kannur Deputy manager Customer Care Assistant Manager Home Care Executive & Senior Executive Sales Senior Executive Sales Assistant Manager Assistant Manager Customer Care

Sr. Executive- Sales Executive

Sr executive Customer Care

Figure Structure of Marketing Department Source (Company Manual)

b)

Coordination of Marketing Activities The marketing executive in MIR Realtors follows certain procedures. The Assistant Manager and General Manager (Marketing) are in constant touch with the sales executive who follow up the customer base. There are monthly meetings of sales executives where they have to give report on the sales, customer reference etc, of the month.
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Meeting of all sales personnel in the marketing department is presided by the general manager. In this meeting all the activities and achievements are discussed. New plans are formulated and issues regarding sales are also considered. c) Marketing Policy MIR Realtors has nearly around 400 flat at its Cochin, Kakanad project. There are a lot of apartments are built near and around there location by various builders. There are facing a strict and tough competition from their competitors. To face this situation the marketing department of MIR Realtors is really working hard. The marketing department has trained there executive well so that they can attract the customers. One of the most important things which have been taught is there strength and their competitors weakness. A customer who walks in to MIR Realtors may have been visited many apartments; so at this point the executive should be ready to answer any questions raised by the customer. For this the marketing department gives well training to its executive. The most important thing which attracts the customer to MIR Realtors is there location, there quality, timely completion, after sales services etc... These are giving strength to the company to meet its competitors in the market. The company does not give a huge targets to its executive and wont give them much pressure, this itself motivate its executive. The customer care department which also comes under marketing department is also the strength of the marketing department. Their regular follow ups, there service to the customer etc also attract them and give them Customer Reference too. d) Role of General manager (Marketing) Coordination with Assistant Sales Manager, Sales Executive.
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 Try to close sales & achieve target. After the sales follow up preparation of agreements, overseeing customer care executive correspondence. Meeting the customers helping them in processing loan requirement. Maintenance of customer relationship. If the customer wishes for any additional changes he has to take necessary steps for that. Follow up with the Executive for collection of booking amount. Take care of promotional activity.

e)

PROCEDURE Marketing

GM Marketing carries out prospecting for potential customers by carrying out visits, mailing brochures, advertising etc. Customer enquiries received through phone/ e-mail/ reference/ web chat in person, these details are entered into enquiry register. With the help these enquiries the Assistant Manager Sales/ the Sales Executive team will be having personal discussions and regular follow ups will be made, and also if the customer wishes for the site visit it will be also made available to them. If the customer request for time it will be again noted in the enquiry note and the Assistant sales manager have to follow up again and trys to close it, Not only that they have to Cross Sell where customers who are interested in Villas. This is to see if they would be interested in the apartment as villas are sold out. The marketing Department also helps the customer in their loan approval requirement by coordinating with the approved bank officials.

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If the customer is satisfied and interested to buy a duly filled Registration Form is collected from the customer along with the booking advance after having detailed discussions. After this the Legal Officer will prepare the sales agreement. This agreement is been executed within 30 days from the date of booking. There will be two agreements signed when a flat is booked, one is Sales Agreement which is between the Land Owner and the Customer and a Construction Agreement which is made between Builders and the Customers. With this agreement the customer will be given the Allotment Letter. The Registration of the Flat to the owners name is made at the time of Key Handling where the whole amount of the flat will be collected. In each project a flat/villa wise Booking-Sheet is maintained, where details of orders received are entered in this book and also a Sales Register is also maintained with details of sales effected each day. Customer Care Once the booking stage is over then the whole responsibility comes to the customer care department which also comes under the General Manager (Marketing). Their main role is sending Periodic Progress Report and photographs of the site to the customers and their bankers once a month, and follow up of receivables up to date is done till the handing over the key to the customer for this they will prepare Customer Follow up Record. They will accompany customers for site visits when necessary and act as one point contact between customer and project division. To build up rapport with the customers, greetings are mailed to them during birthdays, festivals etc.... Extra work if any is added by the preference of the customer is also collected duly. For this the Technical clearance is taken from the
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Manager Project Coordinator and the estimated amount is been calculated along with the Project Manager and will be sent to the customer care. The customer care will sent this estimate to the customer and gets the approval and once the approval is made it will be again informed to the Project Manager.

f)

Marketing Strategy Marketing department of MIR Realtors is very vigilant of the external and internal environment and well aware of the market potential, major competitors, strength and weakness of the company etc. As a result of stiff competition, the top management has appointed a General Manager (marketing) who looks over all the activities very efficiently. The company uses various promotional tools such as advertisements in Websites, Magazines. The company used to advertise in website mostly, as 80% of its customers are NRI, and it targets to that market only. The company has got a tie up with web site agencies, which will get the customer data base who log in the MIR Group web site and through other websites where it has advertised. And by this data, the Sales Team will contact the customer immediately and follow up the customer, if the customer needs for a site visit it is also made available. One of the most important marketing strategies which MIR Realtors believes is Customer Reference which gives good will to the company; this will also create more customers to come in for them by their existing customers. MIR Realtors takes several steps to attract them by completing the projects on time, using quality products, after
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sales service etc... To motivate its customers MIR Realtors provide 1% as commission to Customer Reference.

g)

Marketing Mix It consists of everything a firm can do to influence demand for

its product. MIR Realtors also follows the ideas of marketing mix, they are:

Place Mix Location of Site is one of the early decisions a Project team has to make for mainly attracting the customers. Location determines the value of the project as well as the value of each flat and the sales of the flats. All its sites are located in main area and in main towns only. Its sites are in Cochin-(Sea port Air port Road, Kakkanad) Trivandrum, Kannur. The minimum extend of land for a project is 6 acers. It is well connected with the road. As its major projects are township where all the availability needed for a best standard of living are available. In the case of normal flats the locations are near to get the basic facilities of the customer. Product Mix There major project is a Township & Villas with eco-friendly which is a new concept which was not at all there in the Kerala market but many builders are working and building under this concept. They provide all the facilities in there township such as Super market, Clinic, Day care, ATM counters, Health Club, Club House, Swimming Pool, Park etc... The MIR Realtors project is reputed for its quality, after sale service, and for its eco-friendly projects. The special feature
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is that raw materials are of good quality and are passed through strict inspection.

Price Mix The company maintains current market price for their projects. Price of each flat depends on the cost of land, construction cost, over head office expenses etc; these are some internal parts for the determination of price. There are external parts which also determine the price; it is the present market condition. In the year 2008-2009 the construction industry has affected a lot but now it is slowly get back to its old position. In this industry the value of flats are fixed at certain criteria they are: 1. In the initial stage (i.e. when the construction starts) the rate will be in the lower side. 2. Then while selecting the floor, usually the rate for the 1 st floor will be less and by going up the price also increases. 3. In the mid or while the construction is nearly at the finishing stage the price will increase by around 5% compared to the initial stage. 4. At the end or when the project is over, where it is a ready to occupy the price will increase by around 10% by the previous stage. These are some ways in which price of a flat is fixed. Mir Realtors projects in Cochin at Kakanad flats cost around 60 lakhs with high class materials. If the customer opts for more high standard products then the price may go up again. The price of MIR Realtor Flats at this location is comparatively low to its competitors. It
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maintains constant price and concentrates on equality of product and so it requires less investment in advertisement and sales promotion and also a very well formulated pricing policy is provided. Promotion Mix To promote its projects advertisements are used by MIR Realtors. The basic function of an advertisement is to influence and motivate people to buy products. In MIR Realtors major amount for advertisement is spent on Web-Site/ Online only. As major of its customers are NRI around 80%. It has outsourced its website to a company in Bangalore, which get the data base of the customers who log into MIR GROUP webSite. Whenever a customer log in to MIR GROUP web-site a pop up window will appear as on line chat it helps and attract the customers and collect the details from them, and give the details to the Marketing Department.

All Malayalam Daily, Magic bricks etc....

Print Media

Web-Site Developer

W.Qube, Orange dot, Matix.creation

Web-site Ad

Manoramaonline

FIGURE-6 (LIST OF PROMOTION MIX) SOURCE (Company Manual)

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h)

Customers The companys customers are above average income earners. As

its projects such as flats and villas are of luxury type. The minimum cost for a flat cost around 60 lakh and for a villa it cost around 80 lakh, it is because as all its projects are located in the hot places of the cities. Due to the cost of the land is increasing the cost of the project.

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5.3) HUMAN RESOURCE DEPARTMENT

Now days, HR is considered as one of the important asset of an organization. Behind every successful company there is need of experienced people making recruitment and retention. Human resource is considered as the life blood of each and every organization. A company with good employees never faces any problem; they are the real asset of any organization. Companies must find new ways to engage the knowledge, experience and talents of the employees to find the hidden values in organization and leverage that value to achieve strategic goals. MIR Realtors has a good HR Department and it maintains good relations with the employees. This has helped the company to achieve tremendous growth. All the employee related activities are managed by this department. The company has over 350 workers which are the

permanent employees. These employees are divided into different groups according to their position in different departments. The companies dont have any trade union. The workers and management sit together and negotiate their demands and rights, workers participation are also considered in decision making process. A good working culture prevails in the company.

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a)

Structure of Personnel and Administration department

AGM
HR

Assistant Manager HR Senior Executive HR

Executive HR

b)

HR Policies:

The HR policies are regarded as the organizational code of conduct the code specifies the behavior of the employees inside the organization and outside. 1. General employee conduct the code is to regulate the behaviour of the employees inside the organization and it clearly mentions the behaviors that accounts to misconduct. 2. Code with outside people and organizations this aspect specifies the need of maintaining confidentiality of the organizational data.

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c)

Working timings:

MIR realtors follow 6 days working and 1 day off. The work timings are from 9.30 am to 5.30 pm. The organization has a sign in register as well as a swiping system to mark the attendance. There is 30 minutes grace time for marking the morning attendance after that it is considered as late. Four days of continuous late coming could lead to half day leave.

d)

Employee classification

AGMs and above senior level Asst. Managers and Managers middle level All other employees junior level

e)

Functions of HR department

The main functions of HR manager and Administration manager are as follows: 1. Advisory Role: Industrial psychology and Sociology. 2. Operative and Service role. 3. Conciliators Role. 4. Specialist advisory Role. a. Formulation of HRD function and suggesting the HRD needs of the organization. b. To find out ways and means of implementation of HRD Function. c. Monitoring the HRD activities of the organization. d. Total commitment towards implementation of HRD.

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f)

Role of personnel manager

a. To create necessary infrastructure for HR development activities. b. To laise with HR manager in identifying areas for HR development. c. To arrange proper placement to trained employees. d. To activate association and employees to take part in HR development activities which are beneficial to both employee and management. e. To inform about the organizational operations to the employees. f. To inform the employees complaints to the management.

g)

Programs MIR Realtors has undertaken the following programs under HR

department.

a)

HRD services

HRD activity is undertakes in an integrated manner. It is one of the several organizational process evolved to cope with the changing environment and to maintain the organization at its best. The focus is on the overall development of a personality rather control. Their responsibility starts right from recruiting the right person at right place at the right time. It also includes training and development, provision for good working conditions etc... HRD programmers of the company are based on three aspects; Competency building This is usually done by improving the knowledge of employees and creating the right attitude in the mind of them. For this they will be given training and development programmers.
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 Culture building It is having a great importance, as right culture will create employee satisfaction. Every employee of MIR Realtors loves to work in the organization because of the good work culture prevailing in the organization. Culture mainly indicates the good attitude towards employees and vice versa. Soft Skill building This is done to develop the soft skill of the employees. This may help them to get developed and give a change to go to the next levels. This also motivates them to work well also. b) Human Resource Planning

Human resource planning is understood as the process of forecasting an organization future demand for, and supply, of the right type of people in the right number. In MIR Realtors, the concerned department is always updating the list of people. Recruitment Recruitment is a process of searching for and obtaining applicants for jobs from among whom the right candidate can be selected. Recruitment process is done after the job analysis and job design which specifies the taste and duties of job and qualification expected from the respective job holders. In MIR Realtors, the HR departments have a clear cut recruitment planning. For this they give advertisement in News Paper, Job Portals, and Consultants. After collecting all application, department sorts these application and call up the right candidate for the interview. Depending upon the positions the selection method varies from telephonic interviews to direct face to face interview.
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 Interview and Selection Selection is the process of picking individuals who have relevant qualifications to fill jobs in the organization. The basic purpose is to choose the individuals who can most successfully perform the job from the pool of qualified candidates. The selection takes place through interview with reference of application. Once the employee is recruited he is appointed on a probation period of 6 months. And there are quarterly appraisals done to evaluate the performance. After the completion of 6 months, if the performance of the employee is found satisfactory then a confirmation letter is offered. If the performance is found not satisfactory then the probation period could be extended up to 3 months still if the performance is not satisfactory then the employee could be terminated.

Performance Appraisal Twice in a year evaluation of performance is done for the employees. The evaluation criteria for the managerial and supervisory levels are: i. ii. iii. iv. v. vi. vii. Conceptual skills ability Decision making skills ability HR skills ability Organizational skills ability personal characteristics Job ability Integrity and honesty.

Performance Appraisal is done by the immediate supervisor and the top level management.
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 Employee Remuneration Remuneration of the employee occupies an important place. Remuneration is the compensation that the employee receives in return for his or her contribution to the organization. In MIR Realtors, the organization provides all remuneration insisted by the govt of India and Government of Kerala. This includes: Wages and salary Medi-claim policy

c)

Wages and Salary

The company follows time rate system. The employees other than the office staff and site general workers come under this system in which payment is made according to work done by them on a weekly basis. Salary is paid along with pay slip, which contains details of the pay. At the time when an employee receives salary he should sign on the copy of the pay slip and it is filed in the department. d) Medi claim policy

The company offers a medi claim policy to all its employees and the benefit ranges from fifty thousand to two lakh depending on the employee classification Up to Sr. Executives Rs 50,000 Asst. Managers and above 1 lakh AGM and above 2 lakh

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e)

Leave policy a) Casual leave there are 12 casual leaves per year. Employees are not permitted to take not more than 3 days casual leave at a stretch. b) Sick leave the employees are eligible for 12 days sick leave per year. The employee is required to produce medical certificate for leave more than 7 days. The sick leave could be carried forward only to a maximum of 3 years that is for 36 days. c) Annual / privilege leave employees are permitted for 12 leaves per year. The employee needs to apply for annul leave at least two week in advance. The annual leave can be accumulated to a maximum of 300 days in the total service period.

The leaves are classified as following.

h)

Employee Enragement Activity

The HR department has introduced various innovative measures as a part of employee engagement activities. These activities helped to improve employee morale and to improve the relations among the MIR employees at various locations. Some of these HR initiatives include MCL - The MIR Cricket League was a recently introduced event were cricket teams were formed by MIR employees of various locations and they had a tournament held. The event had participation from all the MIR employees and was a grant success. Cruise dinner in this program the employees are taken on a cruise boat and dinner would be served in it. This activity is meant for relaxation of employees and building strong bond among them.

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 Team outs the HR department occasionally organizes team outings to nearby locations as a small picnic. i) Employee Self Service

The ESS is a module in the ERP system of MIR. This module is helpful in the smooth functioning of the various HR related functions. The various services provided from ESS module involves Payroll and attendance related services Employees can post leave requests, loan/ advances requests, allowances and rebates Employees can obtain salary statement for any period, leave details, IT statements, holiday list, policies, Employee hand book, Employee profile etc.

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5.4) FINANCE DEPARTMENT

Finance is the life blood of any business. Finance department consists of all the managerial activities which include rising of funds and proper allocation of it. Finance department takes all decisions regarding investments, finance and dividend. Finance department also allocates funds for the activities of all other departments. Assistant General Manager is the head of the finance department in MIR Realtors. He decides when and where to acquire funds to meet the firms investment needs. He should determine the proposition of equity debt. The finance department should strive for obtaining the optimum capital structure for the organization. Under the AGM Finance come the Managers for Finance and Accounts. The Finance Manager is assisted by Deputy Manager and Branch Accountant. There is Senior and Executive Accounts under Deputy Managers Accounts and Deputy Manager Accounts and taxation is been headed by Branch Accountant, to deal with the transactions related to Central Excise, Tax and Audit

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a)

Structure of finance and accounts department

AGM- Finance

Head Finance & Admin

ManagerAccounts

AM- Purchase

Dy-Manager Admin

Dy- Manager Accounts

Branch Accountants

Exe- Sys Admin

Sr Exe / ExeAccounts

Dy ManagerAccounts & Taxation

Sr Exe/ ExeAdmin

Sr Exe/ Exe- Front office/Guest Relation

Drivers & Office Assistants

Figure Structure of Finance Department Source (Company Manual)

b)

Books Maintained by the Finance Department Cash Book Bank Book Sales Pay Book Purchase Pay Book Journal Register
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c)

Duties of Finance Manager Ensuring proper maintenance of books of accounts Preparation of budget estimates Preparation of administrated reports Preparation of monthly and annual accounts Verification of all proposal related to finance Strict adherence to bill of material during purchase

d)

Major Functions of the Finance Departments

Preparation of various statement regarding stock, receivables etc. which are to be submitted to various authorities. Planning and controlling of the expenses/funds for production. Approving and making payments to different parties

creditors/suppliers. Receiving payments from customers/dealers in specified time. Raising short-term loans/credit from banks and other financial institutions. Preparation of sales budget/revenue budgets and expenditure budget on a quarterly basis. Preparation and maintenance of cost records. Preparation of fund flow and cash flow statements for every month. Timely preparation and filing of financial records. Preparing and filing of quarterly and final income tax return Preparation and implementation of cost reduction and cost control Takes decisions regarding what type of Capital structure the company needs to have. To raise sufficient long term funds to finance fixed assets
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 The finance manager needs to ensure the supply of adequate, timely and cheap fund to the various parts of the organization That there is no excessive cash idling around To constantly review the financial performance of the various units of organization generally in terms of ROI (return on investment). Such review assists management in seeing own the funds have been utilized in the various divisions and what can be done to improve it.

e)

Programs

The program of finance department includes preparation of reports, auditing of accounts etc... f) Reports

The following reports are prepared by the finance department; Annual reports containing past performance and current financial figures Profit and loss account Balance sheet Fund flow statement Cash flow statement Cost sheet Cost variance report Bank reconciliation statement Comparative statements Budget reports etc

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5.5) STORE DEPARTMENT

The stores Officer heads the stores department and he will assist one assistant, and they come under the Site Project Manager. The store department in MIR Realtors stores all the materials and controls the movement of the materials to the site. Storage of all items of raw materials including cements, steel, cp fittings, electrical items, etc are the responsibility of the stores department. Functioning of stores department is controlled and administered by the stores manager. Materials stored are planned by the stores manager with the help of the purchase or site project manager. Cement, steel, tiles are stored in the site god own; and the valuable and small size/quantity are stored in the stores only. But the stores department controls the issue of both these items. a) Structure of Stores Department

Director Projects Site Project Manager Stores Officer Stores Assistant

Figure Structure of Stores Department Source (Company Manual)
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b)

Functions of Store Manager Prepares purchase requisition according to the needs of materials. Ensures the sufficient quantity of stock that there may be uninterrupted flow of production. Ensures the quantity and quality of materials received in the store. Ensures the materials ordered to be reached in correct time.

c)

Programs The following are the programs: Recording of Stock

Perpetual stock records are kept for raw materials. These records are periodically reconciled with accounting records. This is a periodical reporting of storage of excess. If differences are there, they are investigated and necessary adjustments are made in the final accounting records and store ledger accounts maintained in the stores. The store department is fully computerized. A special software package is designed and installed for inventory management in the stores. All the receipts and issues are recorded in the computer. Analysis of inventory is done on regular basis of the physical stock and it is checked once in every month by the store department. Store Keeping The quantity, quality and other specifications of the item issued are recorded in the store ledger control account prepared and maintained by the stores, issue and usage of cement , steel are recorded in stores ledger control account even though they are not stored in the stores.

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The stores department is fully computerized. A special software package is designed and installed for inventory management in the stores. All the issues and receipts are recorded in the computer. Analysis of inventory is done on regular basis; physical stock check is done once in every month by the store department. The stock verification is done independent of the stores officer and site project manager. Special care is given to materials to free them from deteriorating in quality due to rain, or other cause. All stocks of raw materials are stored in assigned areas only. Access to these areas is restricted. Material Control System Techniques: The following are the main techniques of material control used by the stores department. Perpetual inventory system. Material turnover ratio. Material cost reports. Benefits of material control: Continuous availability of all types of materials in the site. No excessive investment in stock of materials. Materials are purchased at reasonable price. There is minimum wastage while the materials are being stored in the god own. Information about availability of materials is continuously made available by the stores manager. As part of material control system there exists an internal check of material so as to avoid misappropriates use of store items.

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d)

Procedure for issue of raw materials When a particular item of raw material is required for construction,

the supervisor of the concerned section issues a Material Requisition Note to the store department. On the receipt of the note or material indent, the store manager check whether the item demanded is stored in the stores. If the required item is stored in the store, it is issued to concerned department and the acknowledgement for the same is obtained and filed in the stores. If the particular item is not available with the stores or the same has reached their ordering level, the stores department informs the purchase department and issues purchase

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5.6) PROJECT DEPARTMENT

Among the all functional areas of management, Project Department is considered as a crucial in a Construction Industry like MIR Realtors. Project department is the one which chooses the location for the project and also take cares of the entire project. In MIR Realtors mainly the project department takes care of two activities: 1. Getting Approvals 2. Entire Construction process A site study is carried out by the team of executives on a prospective site and the Site Study Report is prepared, after that getting approval from various department starts. Once the approval is got from the entire department, then the construction work will begins. There will be a chart prepared for the construction process in which the construction should takes place.

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a)

Structure of Project department

Director- Projects

Manager- MEP

Planning Engineer

ManagerProjects Coordination

Site Execution Team

Quality Supervisor

Design Assistant

Figure Structure of Project department Source (Company Manual)

b)

Functions of Site Project Manager

The main function of project manager is as follows: Overall coordination with contractors, consultants and with site supervisors for timely and effective execution of work. Coordinate with the planning department to get drawings/deviation in drawings. Planning, scheduling, and coordinating all the work in the site. Raw materials indenting/scheduling and coordinating with purchase department. Monitoring the work and follow strict in work execution. To control waste to the minimum, in raw material consumption.

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c)

Functions of Project Department

The following are the main functions of project department. Submission of budget to the board. Getting approvals from all departments for the project Design of work schedule for the site. Project planning and control. Inventory control Selection of contractors Quality control Delivery of project with in time. Research and development d) Raw Materials Used Quality Cement and Steel are the major raw material used in construction. The main supplier of cement is Dalmiya Cement & Ultra Tech, And the suppliers for the steel is Surya Dev, Tulsyian... The company never faced any raw material shortage. This is due to efficient supply chain management, scientific estimation of raw materials requirements and timely procurement of raw materials. The purchase department plays an active role in the effective and timely procurement of raw materials. Safety is of greater importance in any industrial undertaking. The company has established safety measures as provided in the Building & other construction Workers (Regulation of Employment and Conditions of Service) Act, 1996 (BOCWA) Building and Other Construction Workers (Regulation of Employment and Conditions of Service) Central Rules, 1998 (BOCWR). The company regularly checks and has put a
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notice regarding the safety measures that they have follow in the site. The construction units have several safety mechanisms like handling of construction equipment, factors to be considered while working at top floors, first aid facilities etc.. As a result of the strict safety measures adopted, the company has never come across any major accidents. The construction unit is provided with full safety equipments and all necessary needs to the workers and good working conditions. e) Pollution control The site does not have any pollutant process. The construction waste is also been given to contractors who takes away the waste and sent to needed places. Once if the people starts to using the flats more waste water will be produced, this water are recycled within the site and been used to watering the plants in the site. In addition to this the site and premises are cleaned in regular basis.

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f)

Construction process- flow chart

Selection of the site

Chiping

Pile Cap & Coloum

Soil test

Pilling

Beams

Design for the project

Getting approvals from various department

Figure Construction Process Flow Chart Source (Company Manual)

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g)

Construction Process There is a lot of process for constructing a building, especially for

building a township there are many more procedure is there. The various stages of construction process are as follows: 1. Selection of Site This is been considered as the first stage or process for begin a project. Its the MD and the Project team who finds and selects a location for a project. Once if they are satisfied with the Site they will fix it and a compound wall will be raised.

2. Soil Test Once the site is selected, Soil test will be conducted in the site and finds site capacity. With these they will clearly get a idea of how many floors will be built, how many apartments etc. will be identified. 3. Design This is the most important thing for a project. Once the soil test result is available they will began to design for the project. In this the whole project design is made such as the physical structure of the building and all. 4. Approvals Getting approval from various departments is also necessary. There are various approvals are needed for building an apartment. They are Approval from the Municipality/Corporation Approval from fire & Safety department Approval from civil aviation
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 Approval from pollution control board

5. Selecting the contractors Now the construction works starts, for the construction process all the works are outsourced to various companies. Some of the companies are Engineering Work- Cemex Group Painting work- Modern Interior Plumbing work- Modern Electro Mech Electrical work- V tech 6. Construction Begins The first and foremost work is the earth work in the construction industry. There are several procedure are there in the construction work. Pilling Chipping Pile Cap Beams After these works is done at the earth work level then the structure of the building starts and goes on under various stages. Structure Brick work Electrical and plumbing wall chase Plasting Electrical Cable pulling Fixing switches and all electrical work Furnishing the kitchen area Putty work
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 Papering (painting one coat color & emulsion) Flooring Door and window Fixing Ones these works are over a quality check is done and verified and ones all the work is over then Second Coat of painting and emulsion is carried out. When the overall work is over before the key handling a check by the customer will be done and if any changes needed it is done and key handling will be happen.

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CHAPTER- 6 SWOT ANALYSIS

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The basic objective of SWOT analysis is to provide a frame work to reflect on the firm ability to overcome barriers and to avail of opportunities emerging in the changing environment, the diagnosis of strength and weakness can be fruitfully on if the environment factors and market conditions are considered always with the internal capabilities. SWOT analysis is an important tool to find strength, weakness, opportunities and threats.

STRENGTHS One of the South Indian company building, its entire project as township only in Kerala. MIR Realtors received the ISO 9001-2008 certification for construction of residential and commercial buildings. Taking care for the environment too, by building all its township eco-friendly. Huge landscape, all projects are built in a huge area. The minimum area for its project is 6 acres at Cochin. Concentrating on luxury projects only.

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WEAKNESS Allocation of all the activities in the construction site to contractor increases the cost of the construction. Employees are not much satisfied in the salary, as there are expecting a small hike in the salary in every year.

OPPORTUNITY There is huge opportunity for the real estate sector in the future. It is one of the major sector contributes for the GDP of our nation. As in Kerala there are more NRIs who shows interest in investing their earnings in real estate sector. People wants to get there needs to be get very easy and wants a luxury life style. All these are now available in a township

THREATS Sudden change in the economy affects very bad. More companies are there and only very few customers. The government makes frequent changes in regulations so it may also affect.

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FINDINGS

There is a good relation between the employees within the organization. The company has a good customer base with them and also they follow up there customer regularly. The home care department plays a great role in satisfying their customers. MIR Realtors has a good market value. The marketing department is having a clear cut idea for selling their product. The finance department always supports the entire department and it does not allow over head expenses. Due to the well working of the marketing department all its projects are sold out very soon once the construction is started. The company motivates its employees through various programs such as small tour, cruise dinner etc. The entire construction works are been outsourced in order to avoid of shortage of workers and other problems. They are having a clear cut idea and schedule for the construction process so that it wont affect there working and can complete the project within the prescribed time.

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SUGGESTIONS

The HR Department should try to understand the employees problem through getting suggestion from them. The marketing department should try to attract the local market too, rather attracting more NRIs. The company should give more training programs to its employees so that they can be developed. The company should also try to concentrate on mid level income customers by bringing up projects on reasonable price. As at present all its projects are on luxury side only. The company should try to give a small hike in their salary every year to motivate them. The company should concentrate on the local market also.

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BIBLIOGRAPHY

REFERENCE MATERIAL Company ISO manuals Magazines

BOOKS Production and operation management K. Aswathappa Research methodology- C. R. Kothari Human Resource Management V.S.P.RAO Principles of Marketing PHILIP KOTLER

SITES www.mirgroup.in www.credai.org www.mirrealtors.in www.sloanvalve.com/Dec11_global_outlook.pdf www.cci.in/pdf/surveys_reports/real-estate-sector-india.pdf www.ibef.org/download/Real_Estate_060710.pdf

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CONCLUSION

The study was conducted at MIR Group, Cochin. The project work titled organizational study was an attempt to study about the organizational structure and the department functions and to make some

recommendations and suggestions for the improvement and development and smooth functioning of the organization. The data regarded to the study was collected from MIR Group which helped to understand the process of construction industry. Each department in MIR Realtors was analyzed in detail. Various processes are controlled and monitored under skilled supervision. The study gives information about the construction process, organizational structure of the company and the departmental functions. The co- operation and interaction extended by the employees and management of MIR Realtors have made it possible for the depth of the organizational study which would be used to the research in the future.

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