Bangalore( Karnataka)24/6/19:: India’s most admired and trusted real estate brand, SOBHA reinforces its brand leadership in the Indian real estate sector yet again. The company has been recognised as the Top National Realty Brand across Asset class in India by BrandXReport 2018-19, an annual study conducted by Track2Realty. This is the 5th consecutive year when SOBHA has been conferred with the National Brand Leadership of Indian real estate, making it one-of-its-kind achievement for any company in the sector.
Based on a rigorous selection process, which includes Indian and NRI consumer votes, SOBHA’s leadership position is stable. Further, this year’s findings have once again reiterated the trustworthiness of Bengaluru-based real estate developers. Out of the top 10 national brands, 5 are from Bengaluru. This highlights the business practices of the real estate developers of Bengaluru and consumers’ confidence in them.
The comprehensive Brand Perception Audit Report has recognised SOBHA as the Top National Realty Brand, Top Brand in South India, Top Brand in Residential Space, Top Brand in Super Luxury Segment and its Compact Luxury sub-brand SOBHA Dream Series as the Top Brand in Affordable Homes – the latest category. The consumers across the country (20-city survey with a sample size of 10,000) have also voted SOBHA as their top choice.
It is noteworthy that SOBHA could retain its brand leadership in the wake of the scope of study getting changed this year, and evaluation metrics were also more inclusive and broad-based. The ten metrics of brand evaluation this year were: Fiscal Trust; Project Quality; ROI; Industry Reputation; Buyers’ Endorsement; Community Connect; Aspiration Value; Recall Value; Image Management; and Risk Free Reputation.
Speaking on the occasion, Mr. Ravi Menon, Chairman, SOBHA Limited said, “We are delighted to be recognised as the top brand nationally by Track2Realty – BrandXReport for the 5th consecutive year. Over the last five years, we have been continuously improving our brand leadership score and consolidating our position. It is a rare achievement. This validates the strength of our processes, unique backward integration model and unmatched execution capabilities. We appreciate the constant support and confidence of our stakeholders in helping us stay ahead in the sector. There is still a lot to do and we are committed to take right steps in that direction.”
Mr. J.C. Sharma, Vice Chairman and Managing Director SOBHA Limited said, “We are happy to receive the top honours once again. While the market continues to face tough conditions due to liquidity issues, SOBHA has been able to improve its performance significantly. Our ability to maintain the leadership position in any given situation exhibits our solid foundation and resilience. It is this quality that has helped us become one of the most admired brands in the Indian real estate sector. For us, each milestone brings with it an opportunity to raise the bar further and create value for the entire ecosystem.”
Track2Realty – BrandXReport used stringent methodology to collect data and analyse it. A large sample size of 10,000 consumers were targeted across 20 cities in the country with a set of open-ended and close-ended questions. This was supplemented by in-house research with the data available in public domain and opinion of the neutral experts of Track2Realty’s jury. This year, some changes have been made to the scope of study and brand evaluation metrics post a detailed research of the buyer behavior and their outlook to assess a brand. The Financial Performance parameter was changed to Fiscal Trust to evaluate consumers’ trust in the brand’s financial strength and Media Perception was changed to overall Image Management to include online reputation and social media management for a holistic brand image.
The 7th edition of BrandXReport introduced a new category of Affordable Homes. In this segment as well, SOBHA has been ranked as No. 1 for its SOBHA Dream Series with a score of 81.8 out of 100. Additionally, SOBHA has achieved the number 1 position in the Brand Disruption category for its excellent CSR activities for 3rd year in a row with a score of 80.2 out of 100. The company was measured on the parameters of Relevant Cause – 8.5; Skill-Based Volunteerism – 8.2; Long-Term Investment – 8.2; Management Involvement – 8.2; Compliance & Transparency – 7.9; Disclosure Standards – 7.6; Alliance Partners – 7.5; Brand Linkage – 7.0; Beneficiary Perspective – 8.5; and Value Creation – 8.6. SOBHA’s CSR initiatives span across education, healthcare, care of vulnerable sections and women empowerment.
Further, in the Super Luxury segment, SOBHA maintains its Brand Leadership for the 6th consecutive year with a score of 83.4 out of 100. The company has improved its score consolidating its Brand Leadership in the segment. In addition, SOBHA has been way ahead of the industry curve when it comes to the holistic image management of the brand. The study this year broadened the scope of Media Perception and Coverage to gauge the holistic Image Management of the respective brands through newly developed metrics of Media Coverage; Media Tonality; Media Perception; Industry News; Digital Presence; Online News; Social Media; ORM; Communication Consistency; and Consumer Interface. SOBHA has achieved its all-time high score of 76.1 out of 100, and the Number 1 rank for the 2nd consecutive year.
The 7th edition of Track2Realty – BrandXReport 2018-19 is a part of a yearly brand perception audit conducted by Track2Realty – an independent real estate think-tank. The report finds that the Indian real estate companies that are resilient brands with professionalism have continued to shine despite challenges in the market.