LET’S TALK / VOLUME 4 LET’S TALK / VOLUME 4 LET’S TALK 1 LET’S TALK 1 LET’S TALK 1 LET’S TALK CONTENTS 6 1 0 2 LET’S TALK VOLUMEVOLUME 1 1 LET’S TALK LET’S TALK R VOLUME 2 VOLUME 3 E SUMMERSUMMER 2014 2014 MONSOON 2014 SUMMER 2015 M S U M CREDITS: EDITORIAL AND CONTENT - ANUBHAV GUPTA NAMRATA MEHRA CREATIVES - JYOTIKA PURWAR THE MAKING GOOD BUSINESS SENSE BY DESIGN THE TREES | GODREJ BKC STUDIO DESIGN METRICS 04 - 21 HOW WE WORK APPROACH 22 - 95 PARTNERSHIPS SCALE SUSTAINABILITY ENGAGEMENTS STUDIO 2.0 NEWS & NOTEWORTHY 96 - 101 INSIDE STORIES 102 - 117 2 3 LET’S TALK / VOLUME 4 LET’S TALK / VOLUME 4 THE STUDIO Vikhroli has always been a vibrant test bed for entrepreneurship, new visions, experimentation and innovation. More recently, the Imagine Studio and The Trees (GPL’s flagship development) as a whole have emerged as successful prototypes of a new way of thinking and delivering real estate in India. A brand new vision is currently underway – one that celebrates our legacy, encapsulates our values and offers the opportunity for brighter living. 5 4 LET’S TALK / VOLUME 4 LET’S TALK / VOLUME 4 DESIGN THINKING DESIRABILITY MARKETABILITY DES IGN W T H O R? H IS T F O IN I K I N G DESIGN FEASIBILITY VIABILITY CONSTRUCTION (BUSINESS) APPROVABILITY most benefits from point out that design is The hypothesis of this MAKING GOOD BUSINESS SENSE BY DESIGN – design seem to only be not about design, well - cultural shift is based recognized after the fact as most people know it. on making our interface DESIGN THINKING DECODED FOR REAL ESTATE of producing the tangible Steve Jobs famously said - with complexity simpler, artifact and its subsequent Design is not how it looks intuitive, pleasurable They say, what you don’t business success. like or feels like. Design and memorable. Design know can’t hurt you but is how it works. In real thinking could be the yet we are afraid of it. However, whilst this estate, we coined our own dot connector and a Design is somewhat like success acknowledges phrase – Design is not a progressive system based that and for the most design as a powerful business vertical, Design tool for whole brained part it hugely benefits contributor, its value is is a business horizontal. thinking, decision making us (if done right), yet in never quantified; rendering Jon Kolko’s article in the and finally to achieve traditional real estate it a speculative case-by- Harvard Business Review* a desired business development it appears case investment to those refers to our world of outcome. Hence, to make to be the most stifled, who deem its importance dynamic complexity where that leap between fuzzy under optimized, least somewhat necessary in an organizational shift is logic to Boolean business invested in and always today’s day. In light of currently underway to logic, we set up the GPL at the sacrificial alter of this it maybe useful to put design close to the Design Studio, an anomaly any other priority deemed center of enterprise. He within the traditional to have more immediate articulates that this shift real estate development and significant business is not about aesthetics company. The Studio can interest. The process of but about applying be described as an open design appears fuzzy to design principles to the source framework that most left brained thinkers way people/companies/ applies the principles who tend to get frustrated things/interfaces work. of design thinking and with making (what appears powers the organization to be) a blind investment to – ‘make good business in its fuzzy logic to sense, by design.’ arrive at a desirable business conclusion. *https://hbr.org/2015/09/ It is no surprise that design-thinking-comes-of-age 6 7 LET’S TALK / VOLUME 4 LET’S TALK / VOLUME 4 DESIGN THINKING W HAT IS IT ? ION NNOVAT SS I INE BUS R FO G W IN The concept/application story. Companies that are NK H HI of design thinking is perceived at the cutting T N A not a new one nor is edge of innovation and IG S T it rocket science. It thought leadership across E D DEFINE was first discussed in sectors have design 1969 by Nobel laureate, thinking in common HO Herbert Simon in his with their core business W book, The Sciences of strategy. These include the Artificial. Over the (but may not be limited years, leading international to) Apple, IBM, GE, EMPATHISE IDEATE design/business Philips, Pepsi, 3M, Aston schools and more Martin, Tata Motors and recently management more recently the Godrej consultancies like IDEO, group. As evidenced from Mckinsey, Bain, BCG, available literature, it is Deloitte and Accenture (to also interesting to note name a few) are advising that investors are taking global companies on its notice of design thinking clear value additions to and its benefits in the their businesses. boardroom for their long- term returns. W PROTOTYPE Essentially, design thinking O is a problem solving H system that answers the - who, what, how and why by empathizing, defining, STORY TELLING ideating, prototyping TEST and testing, all woven WHY together in an authentic narrative to make a compelling/participative N IG DES DS MAN ION DE INNOVAT 8 9 LET’S TALK / VOLUME 4 LET’S TALK / VOLUME 4 DESIGN THINKING H O E ? W IS IT D O N So what do these FOCUS ON PARTICULARLY EMPATHY, USING companies do that others 1 EMOTIONAL RESONANCE are still struggling to EXPERIENCE embrace? This issue of Let’s Talk focuses on specific examples where we have successfully CREATE TO EXAMINE COMPLEX deployed design thinking 2 PROBLEMS USING DESIGN to demonstrate both MODELS & ARTIFACTS TO EXPLORE, DEFINE, qualitative and quantitative EMPOWER COMMUNICATE AND BUILD benefits for our real estate CONSENSUS business. DEPLOY TO TEST POSSIBLE SOLUTIONS 3 AND SOLICIT FEEDBACK ON PROTOTYPES SUCCESS PARAMETERS TOLERATE WITHIN REASON BACKED 4 BY COST BENEFIT ANALYSIS FAILURE TO INVEST IN SUPERLATIVE SUCCESS THROUGH ITERATIVE EXPERIMENTATION SYSTEMISE THIS WAY OF THINKING AND 5 PROBLEM SOLVING & SCALE CELEBRATE AND SHARE GREAT STORIES 6 OF SUCCESS MAKING EVERY- ONE FEEL GREAT 10 11 LET’S TALK / VOLUME 4 LET’S TALK / VOLUME 4 EES % TR O F E V H DESIGN A T L U THINKING E G E GPL WHY WOULD N G E O R YOU DO IT? A PORTFOLIOGPL D T E RE D J BKC 2% 98% COMMERCIAL | RESIDENTIAL GODREJ EXAMPLES OF DESIGN LED PROJECTS BKC The Trees is GPL’s flagship Godrej BKC is one of final product. The vision project and the first node the company’s marque conceived during concept in Vikhroli’s development commercial projects. design is refined during Godrej BKC, our Grade A and regeneration. Its Responding to the subsequent design stages commercial asset record- success can be attributed stringent architectural and rigorously evaluated ed sales of 435,000 SFT in large measure to the controls mandated by on business parameters with a value of 1,479 crore clear and deliberate MMRDA for the Bandra prior to sign offs. A making it the largest ever “ focus on design across Kurla Complex, the large contribution to the “end-user commercial real scales from master building manages to create success of the project was estate transaction in India. At a price of 34,000 per SFT, planning to innovations a sense of place through the invaluable, tangible the project has been able at the dwelling level. The its sensitive architectural and intangible benefits in to command this premium project addresses the and landscaping response. the building design, which basis our focus on design, key principles of identity, An integrated joint effort customers recognized and and project specifications. sustainability, community, between the site team, appreciated. - Royden Braganza and connectivity saving central design and our Head – Commercial 90% of existing trees consultants has ensured sales and leasing, GPL to set up a unique accurate and precise VIKHROLI THE product proposition. An translation of design TREES adaptive reuse project - during execution at site. The Imagine Studio was The approach process delivered to house the involves design and BKC project’s experience engineering working The Trees was GPL’s most centre focusing on the hand-in-hand through an successful launch in terms walkable mixed-use area intensely collaborative of value of real estate sold with sales of 862 crore in between buildings. The engagement across the first month alone. The narrative of ‘Imagine various stages and Life in the Trees,’ has milestones to achieve the “launch commanded 1.35 “ times the premium over consistently influenced the base micro-market rates project’s positioning and with the project beating product strategy, visual sluggish real estate market identity, place making, trends to create significant marketing communication, value for the company. and sales strategy. - Anubhav Gupta Business head – Vikhroli 12 13 LET’S TALK // VOLUMEVOLUME 44 LET’S TALK / VOLUME 4 OPPORTUNITY VISION FOCUS ON TECHNICAL DUE PRODUCT DILIGENCE MASTER PLANNING DESIGN NARRATIVE THE IMAGINE STUDIO LANDSCAPE ARCHITECTURE ARCHITECTURE PRODUCT INNOVATION EXPERIENCE LIGHTING MASTERPLAN 14 15 LET’S TALK // VOLUMEVOLUME 44 LET’S TALK / VOLUME 4 FOCUS ON EXPERIENCE THE TREES LAUNCH There are those rare times evangelists. Planning, when - we question how organizing, collaborating, we conduct business; managing and delivering when innovation isn’t timely business results restricted to a function, in such a complex matrix product features or a based primarily on soft singular ‘unique selling influence and people point’; when we break relationships came with boundaries to disrupt and several challenges that unite across differences.