PROJECT REPORT

On

“Demand & supply in housing for

lucknow specific parsvnath developer”

Submitted For the Partial Fulfillment of the Degree of

Master of Business Administration

2009-2011

UNDER THE GUIDANCE

SUBMITTED BY

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 ACKNOWLEDGEMENT

I have no word to express to propound gratitude to Ms. who had been the source of

perpetual help in the completion of this project because any successful work is always a

result of high co-operation and guidance.

I am also highly obliged to Mr. and all faculty member and also all staff of College.

I would always be indebted to all above for their co-operation and guidance and in last I

thankful for my parents and my friends.

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 TABLE OF CONTENT

Chapter I

• Introduction
• Objective of the study
• Methodology : this would contain the following thing
• Sources of data sample sizes,
• Methods of data collection
• Instrument used
• Tools and techniques of analysis

CHAPTER II

• The background
• The promoters
• The company and its product line
• Features of the product

CHAPTER III

• About the project (Topic) taken in the organization

• Survey, Feedback, Findings & Data Analysis

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CHAPTER IV

• Suggestion/ Recommendation

CHAPTER V

• Conclusion

Bibliography

Appendix/ Annexure

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Chapter I

• Introduction
• Objective of the study
• Methodology : this would contain the following
thing
• Sources of data sample sizes,
• Methods of data collection
• Instrument used
• Tools and techniques of analysis

5
6
 INTRODUCTION

Supply and demand

The price P of a product is determined by a balance between production at each price

(supply S) and the desires of those with purchasing power at each price (demand D). The

diagram shows a positive shift in demand from D1 to D2, resulting in an increase in price

(P) and quantity sold (Q) of the product.

Supply and demand is an economic model of price determination in a market. It

concludes that in a competitive market, the unit price for a particular good will vary until

it settles at a point where the quantity demanded by consumers (at current price) will

equal the quantity supplied by producers (at current price), resulting in an economic

equilibrium of price and quantity.

The four basic laws of supply and demand are

1. If demand increases and supply remains unchanged then higher

equilibrium price and quantity.

2. If demand decreases and supply remains the same then lower

equilibrium price and quantity.

3. If supply increases and demand remains unchanged then lower

equilibrium price and higher quantity.

4. If supply decreases and demand remains the same then higher price

and lower quantity.

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The graphical representation of supply and demand

The supply-demand model is a partial equilibrium model representing the determination

of the price of a particular good and the quantity of that good which is traded. Although it

is normal to regard the quantity demanded and the quantity supplied as functions of the

price of the good, the standard graphical representation, usually attributed to Alfred

Marshall, has price on the vertical axis and quantity on the horizontal axis, the opposite

of the standard convention for the representation of a mathematical function.

Determinants of supply and demand other than the price of the good in question, such as

consumers' income, input prices and so on, are not explicitly represented in the supply-

demand diagram. Changes in the values of these variables are represented by shifts in

the supply and demand curves. By contrast, responses to changes in the price of the

good are represented as movements along unchanged supply and demand curves.

Supply schedule

The supply schedule, depicted graphically as the supply curve, represents the amount of

some good that producers are willing and able to sell at various prices, assuming ceteris

paribus, that is, assuming all determinants of supply other than the price of the good in

question, such as technology and the prices of factors of production, remain the same.

Under the assumption of perfect competition, supply is determined by marginal cost.

Firms will produce additional output as long as the cost of producing an extra unit of

output is less than the price they will receive.

By its very nature, conceptualizing a supply curve requires that the firm be a perfect

competitor—that is, that the firm has no influence over the market price. This is because

each point on the supply curve is the answer to the question "If this firm is faced with

this potential price, how much output will it be able to sell?" If a firm has market power,

so its decision of how much output to provide to the market influences the market price,

then the firm is not "faced with" any price, and the question is meaningless.

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Economists distinguish between the supply curve of an individual firm and the market

supply curve. The market supply curve is obtained by summing the quantities supplied by

all suppliers at each potential price. Thus in the graph of the supply curve, individual

firms' supply curves are added horizontally to obtain the market supply curve.

Economists also distinguish the short-run market supply curve from the long-run market

supply curve. In this context, two things are assumed constant by definition of the short

run: the availability of one or more fixed inputs (typically physical capital), and the

number of firms in the industry. In the long run, firms have a chance to adjust their

holdings of physical capital, enabling them to better adjust their quantity supplied at any

given price. Furthermore, in the long run potential competitors can enter or exit the

industry in response to market conditions. For both of these reasons, long-run market

supply curves are flatter than their short-run counterparts.

The determinants of supply follow:

1. Production costs

2. The technology of production

3. The price of related goods

4. Firm's expectations about future prices

5. Number of suppliers

Demand schedule

The demand schedule, depicted graphically as the demand curve, represents the amount

of some good that buyers are willing and able to purchase at various prices, assuming all

determinants of demand other than the price of the good in question, such as income,

tastes and preferences, the price of substitute goods, and the price of complementary

goods, remain the same. Following the law of demand, the demand curve is almost

9
always represented as downward-sloping, meaning that as price decreases, consumers

will buy more of the good.

Just as the supply curves reflect marginal cost curves, demand curves are determined by

marginal utility curves. Consumers will be willing to buy a given quantity of a good, at a

given price, if the marginal utility of additional consumption is equal to the opportunity

cost determined by the price, that is, the marginal utility of alternative consumption

choices. The demand schedule is defined as the willingness and ability of a consumer to

purchase a given product in a given frame of time.

As described above, the demand curve is generally downward-sloping. There may be rare

examples of goods that have upward-sloping demand curves. Two different hypothetical

types of goods with upward-sloping demand curves are Giffen goods (an inferior but

staple good) and Veblen goods (goods made more fashionable by a higher price).

By its very nature, conceptualizing a demand curve requires that the purchaser be a

perfect competitor—that is, that the purchaser has no influence over the market price.

This is because each point on the demand curve is the answer to the question "If this

buyer is faced with this potential price, how much of the product will it purchase?" If a

buyer has market power, so its decision of how much to buy influences the market price,

then the buyer is not "faced with" any price, and the question is meaningless.

As with supply curves, economists distinguish between the demand curve of an individual

and the market demand curve. The market demand curve is obtained by summing the

quantities demanded by all consumers at each potential price. Thus in the graph of the

demand curve, individuals' demand curves are added horizontally to obtain the market

demand curve.

The determinants of demand follow:

1. Income

2. Tastes and preferences

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3. Prices of related goods and services

4. Expectations

5. Number of Buyers

Microeconomics

Equilibrium

Equilibrium is defined to the price-quantity pair where the quantity demanded is equal to

the quantity supplied, represented by the intersection of the demand and supply curves.

Market Equillibrium:

A situation in a market when the price is such that the quantity that consumers wish to

supply is correctly balanced by the quantity that firms wish to supply.

Comparitive static analysis:

Examines the likely effect on the equillibrium of a change in the external conditions

affecting the market.

Changes in market equilibrium

Practical uses of supply and demand analysis often center on the different variables that

change equilibrium price and quantity, represented as shifts in the respective curves.

Comparative statics of such a shift traces the effects from the initial equilibrium to the

new equilibrium.

Demand curve shifts

An outward (rightward) shift in demand increases both equilibrium price and quantity

When consumers increase the quantity demanded at a given price, it is referred to as an

increase in demand. Increased demand can be represented on the graph as the curve

being shifted to the right. At each price point, a greater quantity is demanded, as from

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the initial curve D1 to the new curve D2. In the diagram, this raises the equilibrium price

from P1 to the higher P2. This raises the equilibrium quantity from Q1 to the higher Q2. A

movement along the curve is described as a "change in the quantity demanded" to

distinguish it from a "change in demand," that is, a shift of the curve. In the example

above, there has been an increase in demand which has caused an increase in

(equilibrium) quantity. The increase in demand could also come from changing tastes and

fashions, incomes, price changes in complementary and substitute goods, market

expectations, and number of buyers. This would cause the entire demand curve to shift

changing the equilibrium price and quantity. Note in the diagram that the shift of the

demand curve, by causing a new equilibrium price to emerge, resulted in movement

along the supply curve from the point (Q1, P1) to the point Q2, P2).

If the demand decreases, then the opposite happens: a shift of the curve to the left. If

the demand starts at D2, and decreases to D1, the equilibrium price will decrease, and

the equilibrium quantity will also decrease. The quantity supplied at each price is the

same as before the demand shift, reflecting the fact that the supply curve has not

shifted; but the equilibrium quantity and price are different as a result of the change

(shift) in demand.

The movement of the demand curve in response to a change in a non-price determinant

of demand is caused by a change in the x-intercept, the constant term of the demand

equation.

Supply curve shifts

An outward (rightward) shift in supply reduces the equilibrium price but increases the

equilibrium quantity

When the suppliers' unit input costs change, or when technological progress occurs, the

supply curve shifts. For example, assume that someone invents a better way of growing

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wheat so that the cost of growing a given quantity of wheat decreases. Otherwise stated,

producers will be willing to supply more wheat at every price and this shifts the supply

curve S1 outward, to S2—an increase in supply. This increase in supply causes the

equilibrium price to decrease from P1 to P2. The equilibrium quantity increases from Q1

to Q2 as consumers move along the demand curve to the new lower price. As a result of

a supply curve shift, the price and the quantity move in opposite directions.

If the quantity supplied decreases, the opposite happens. If the supply curve starts at S2,

and shifts leftward to S1, the equilibrium price will increase and the equilibrium quantity

will decrease as consumers move along the demand curve to the new higher price and

associated lower quantity demanded. The quantity demanded at each price is the same

as before the supply shift, reflecting the fact that the demand curve has not shifted. But

due to the change (shift) in supply, the equilibrium quantity and price have changed.

The movement of the supply curve in response to a change in a non-price determinant of

supply is caused by a change in the y-intercept, the constant term of the supply

equation. The supply curve shifts up and down the y axis as non-price determinants of

demand change.

Elasticity

Elasticity is a central concept in the theory of supply and demand. In this context,

elasticity refers to how strongly the quantities supplied and demanded respond to various

factors, including price and other determinants. One way to define elasticity is the

percentage change in one variable (the quantity supplied or demanded) divided by the

percentage change in the causative variable. For discrete changes this is known as arc

elasticity, which calculates the elasticity over a range of values. In contrast, point

elasticity uses differential calculus to determine the elasticity at a specific point. Elasticity

is a measure of relative changes.

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Often, it is useful to know how strongly the quantity demanded or supplied will change

when the price changes. This is known as the price elasticity of demand or the price

elasticity of supply, respectively. If a monopolist decides to increase the price of its

product, how will this affect the amount of their good that customers purchase? This

knowledge helps the firm determine whether the increased unit price will offset the

decrease in sales volume. Likewise, if a government imposes a tax on a good, thereby

increasing the effective price, knowledge of the price elasticity will help us to predict the

size of the resulting effect on the quantity demanded.

Elasticity is calculated as the percentage change in quantity divided by the associated

percentage change in price. For example, if the price moves from $1.00 to $1.05, and as

a result the quantity supplied goes from 100 pens to 102 pens, the quantity of pens

increased by 2%, and the price increased by 5%, so the price elasticity of supply is

2%/5% or 0.4.

Since the changes are in percentages, changing the unit of measurement or the currency

will not affect the elasticity. If the quantity demanded or supplied changes by a greater

percentage than the price did, then demand or supply is said to be elastic. If the quantity

changes by a lesser percentage than the price did, demand or supply is said to be

inelastic. If supply is perfectly inelastic;that is, has zero elasticity, then there is a vertical

supply curve.

Short-run supply curves are not as elastic as long-run supply curves, because in the long

run firms can respond to market conditions by varying their holdings of physical capital,

and because in the long run new firms can enter or old firms can exit the market.

Elasticity in relation to variables other than price can also be considered. One of the most

common to consider is income. How strongly would the demand for a good change if

income increased or decreased? The relative percentage change is known as the income

elasticity of demand.

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Another elasticity sometimes considered is the cross elasticity of demand, which

measures the responsiveness of the quantity demanded of a good to a change in the

price of another good. This is often considered when looking at the relative changes in

demand when studying complements and substitute goods. Complements are goods that

are typically utilized together, where if one is consumed, usually the other is also.

Substitute goods are those where one can be substituted for the other, and if the price of

one good rises, one may purchase less of it and instead purchase its substitute.

Cross elasticity of demand is measured as the percentage change in demand for the first

good divided by the causative percentage change in the price of the other good. For an

example with a complement good, if, in response to a 10% increase in the price of fuel,

the quantity of new cars demanded decreased by 20%, the cross elasticity of demand

would be -2.0.

In a frictionless economy, the price and quantity in any market would be able to move to

a new equilibrium position instantly, without spending any time away from equilibrium.

Any change in market conditions would cause a jump from one equilibrium position to

another at once. In real economic systems, markets don't always behave in this way, and

markets take some time before they reach a new equilibrium position. This is due to

asymmetric, or at least imperfect, information, where no one economic agent could ever

be expected to know every relevant condition in every market. Ultimately both producers

and consumers must rely on trial and error as well as prediction and calculation to find

the true equilibrium of a market.

Vertical supply curve (perfectly inelastic supply)

When demand D1 is in effect, the price will be P1. When D2 is occurring, the price will be

P2. The equilibrium quantity is always Q, and any shifts in demand will only affect price.

15
If the quantity supplied is fixed in the very short run no matter what the price, the supply

curve is a vertical line, and supply is called perfectly inelastic.

Other markets

The model of supply and demand also applies to various specialty markets.

The model is commonly applied to wages, in the market for labor. The typical roles of

supplier and demander are reversed. The suppliers are individuals, who try to sell their

labor for the highest price. The demanders of labor are businesses, which try to buy the

type of labor they need at the lowest price. The equilibrium price for a certain type of

labor is the wage rate.[4]

A number of economists (for example Pierangelo Garegnani[5], Robert L. Vienneau[6], and

Arrigo Opocher & Ian Steedman[7]), building on the work of Piero Sraffa, argue that that

this model of the labor market, even given all its assumptions, is logically incoherent.

[8]
Michael Anyadike-Danes and Wyne Godley argue, based on simulation results, that

little of the empirical work done with the textbook model constitutes a potentially

falsifying test, and, consequently, empirical evidence hardly exists for that model.

[9]
Graham White argues, partially on the basis of Sraffianism, that the policy of increased

labor market flexibility, including the reduction of minimum wages, does not have an

"intellectually coherent" argument in economic theory.

This criticism of the application of the model of supply and demand generalizes,

particularly to all markets for factors of production. It also has implications for monetary

theory[10] not drawn out here.

In both classical and Keynesian economics, the money market is analyzed as a supply-

and-demand system with interest rates being the price. The money supply may be a

vertical supply curve, if the central bank of a country chooses to use monetary policy to

fix its value regardless of the interest rate; in this case the money supply is totally

inelastic. On the other hand,[11] the money supply curve is a horizontal line if the central

16
bank is targeting a fixed interest rate and ignoring the value of the money supply; in this

case the money supply curve is perfectly elastic. The demand for money intersects with

the money supply to determine the interest rate.[12]

Empirical estimation

Demand and supply relations in a market can be statistically estimated from price,

quantity, and other data with sufficient information in the model. This can be done with

simultaneous-equation methods of estimation in econometrics. Such methods allow

solving for the model-relevant "structural coefficients," the estimated algebraic

counterparts of the theory. The Parameter identification problem is a common issue in

"structural estimation." Typically, data on exogenous variables (that is, variables other

than price and quantity, both of which are endogenous variables) are needed to perform

such an estimation. An alternative to "structural estimation" is reduced-form estimation,

which regresses each of the endogenous variables on the respective exogenous variables.

Macroeconomic uses of demand and supply

Demand and supply have also been generalized to explain macroeconomic variables in a

market economy, including the quantity of total output and the general price level. The

Aggregate Demand-Aggregate Supply model may be the most direct application of supply

and demand to macroeconomics, but other macroeconomic models also use supply and

demand. Compared to microeconomic uses of demand and supply, different (and more

controversial) theoretical considerations apply to such macroeconomic counterparts as

aggregate demand and aggregate supply. Demand and supply are also used in

macroeconomic theory to relate money supply and money demand to interest rates, and

to relate labor supply and labor demand to wage rates.

History

The power of supply and demand was understood to some extent by several early Muslim

economists, such as Ibn Taymiyyah who illustrates:[verification needed]

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"If desire for goods increases while its availability decreases, its price rises. On the other

hand, if availability of the good increases and the desire for it decreases, the price comes

down."[13]

John Locke's 1691 work Some Considerations on the Consequences of the Lowering of

Interest and the Raising of the Value of Money.[14] includes an early and clear descriptions

of supply and demand and their relationship. In this description demand is rent: “The

price of any commodity rises or falls by the proportion of the number of buyer and

sellers” and “that which regulates the price... [of goods] is nothing else but their quantity

in proportion to their rent.”

The phrase "supply and demand" was first used by James Denham-Steuart in his Inquiry

into the Principles of Political Oeconomy, published in 1767. Adam Smith used the phrase

in his 1776 book The Wealth of Nations, and David Ricardo titled one chapter of his 1817

work Principles of Political Economy and Taxation "On the Influence of Demand and

Supply on Price".[15]

In The Wealth of Nations, Smith generally assumed that the supply price was fixed but

that its "merit" (value) would decrease as its "scarcity" increased, in effect what was later

called the law of demand. Ricardo, in Principles of Political Economy and Taxation, more

rigorously laid down the idea of the assumptions that were used to build his ideas of

supply and demand. Antoine Augustin Cournot first developed a mathematical model of

supply and demand in his 1838 Researches into the Mathematical Principles of Wealth,

including diagrams.

During the late 19th century the marginalist school of thought emerged. This field mainly

was started by Stanley Jevons, Carl Menger, and Léon Walras. The key idea was that the

price was set by the most expensive price, that is, the price at the margin. This was a

substantial change from Adam Smith's thoughts on determining the supply price.

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In his 1870 essay "On the Graphical Representation of Supply and Demand", Fleeming

Jenkin in the course of "introduc[ing] the diagrammatic method into the English economic

literature" published the first drawing of supply and demand curves therein,[16] including

comparative statics from a shift of supply or demand and application to the labor market.

[17]
The model was further developed and popularized by Alfred Marshall in the 1890

textbook Principles of Economics.[15]

Criticism

At least two assumptions are necessary for the validity of the standard model: first, that

supply and demand are independent; and second, that supply is "constrained by a fixed

resource"; If these conditions do not hold, then the Marshallian model cannot be

sustained. Sraffa's critique focused on the inconsistency (except in implausible

circumstances) of partial equilibrium analysis and the rationale for the upward-slope of

the supply curve in a market for a produced consumption good [18]. The notability of

Sraffa's critique is also demonstrated by Paul A. Samuelson's comments and

engagements with it over many years, for example:

"What a cleaned-up version of Sraffa (1926) establishes is how nearly empty are

all of Marshall's partial equilibrium boxes. To a logical purist of Wittgenstein and

Sraffa class, the Marshallian partial equilibrium box of constant cost is even

more empty than the box of increasing cost."[19].

Aggregate excess demand in a market is the difference between the quantity demanded

and the quantity supplied as a function of price. In the model with an upward-sloping

supply curve and downward-sloping demand curve, the aggregate excess demand

function only intersects the axis at one point, namely, at the point where the supply and

demand curves intersect. The Sonnenschein-Mantel-Debreu theorem shows that the

standard model cannot be rigorously derived in general from general equilibrium

theory[20].

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The model of prices being determined by supply and demand assumes perfect

competition. But:

"economists have no adequate model of how individuals and firms adjust prices in

a competitive model. If all participants are price-takers by definition, then the

actor who adjusts prices to eliminate excess demand is not specified"[21].

The problem is summarized in the Ackerman text: "If we mistakenly confuse precision

with accuracy, then we might be misled into thinking that an explanation expressed in

precise mathematical or graphical terms is somehow more rigorous or useful than one

that takes into account particulars of history, institutions or business strategy. This is not

the case. Therefore, it is important not to put too much confidence in the apparent

precision of supply and demand graphs. Supply and demand analysis is a useful precisely

formulated conceptual tool that clever people have devised to help us gain an abstract

understanding of a complex world. It does not - nor should it be expected to - give us in

[22]
addition an accurate and complete description of any particular real world market."

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 OBJECTIVE OF THE STUDY

This study is undertaken to determine the perception of the supply and demand in

housing. Lucknow is chosen as the location because it has a large population are wanting

full security. Most Customer use Parsanath Developer. Over the last few years, the use of

Flat in the city has grown tremendously, and new players have entered this circle.

The main objective of this study is to generate perceptual picture for the developers.

The target group for the survey is graduate and postgraduate Customer of arts,

science, technologies, and professional colleges in Lucknow .

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22
 RESEARCH METHODOLOGY

The study is an exploratory study of a new product that has suddenly increased in

adaptation, due to which the key questions are designed to find out the consumers

expectations and satisfaction. Hence, the study is conducted without any research-

hypothesis in mind about selected factors for the judging the performance.

INTRODUCTION

This chapter aims to understand the research methodology establishing a framework of

evaluation and revaluation of primary and secondary research. The techniques and

concepts used during primary research in order to arrive at findings; which are also dealt

with and lead to a logical deduction towards the analysis and results

RESEARCH DESIGN

The research design applied here was exploratory research and descriptive research.

Exploratory Research is one in we don’t know about the problem, we have to find about

the problem and then work on solving the problem. Whereas in case of descriptive

research, we know the problem, we just have to find the solution to the problem.

Generally descriptive research design is applied after exploratory research design.

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Here after doing the secondary research, we found the general perception about the retail

baking but then in second phase we tried to figure out where the difference lies and on

what basis the banks differ from each other

RESEARCH TOOL

Research tool

The purpose is to first conduct a intensive secondary research to understand the full

impact and implication of the industry, to review and critique the industry norms and

reports, on which certain issues shall be selected, which remain unanswered , this shall be

further taken up in the next stage of secondary research. This stage shall help to restrict

and select only the important question and issue, which inhabit growth and segmentation

in the industry.

DATA COLLECTION:

Both primary and secondary data have been collected very vigorously

Secondary data: it is collected by the study of various reports. The reports studied under

secondary data.

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 THE RESEARCH PROBLEM

The problem formulation is the first step to a successful Research process.

Project undertaken the problem of analyzing the customer satisfaction level of the Tata

Indicom and to find the Consumer satisfaction in Tata Indicom.

THE RESEARCH OBJECTIVE

Based on the problem the objective of the research is divided into two

which are as follows:

Primary Objective:

 To analyse demand and supply of customers towards the company’s products range.

Secondary Objective:

 Analyse consumer satisfaction for different Parasnath product.

 Analyse the Consumer behaviour of Parasnath product.

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 THE RESEARCH DESIGN

The research design used in the project is exploratory design. The

investigation is carried upon the customers in Lucknow city. The reason for choosing

this design is to get responses from the customers so that their perception about the

products of the company and their equity could be predicted.

THE DATA SOURCE

The data has been taken from two sources

 Primary data source

The primary data source has been collected through questionnaire by personally

interviewing each respondent on a number of queries structured in a questionnaire.

 Secondary data source

Secondary data was collected from following sources

Prior research reports

Websites

Books

Newspaper

26
Personal consultation

THE AREA OF WORK

The field work is conducted in the Lucknow city in various situated in

different location all over the city.

THE SAMPLE SIZE

The sample size consists of 100 units out of which the most logical and

non biased response are selected thus the sample size is taken out to be 100 units.

All the data is obtained by the means of in-depth interviews, focus group

discussions and surveys. It is conducted in two phases –

1. The exploratory phase

2. The conclusive study phase

EXPLORATORY PHASE:

The exploratory phase ascertained the different factors that are used by Customer

in forming opinions about a particular computer provider. Customer from a number of

local institutes were asked to participate in focus group discussions, followed by in depth

personal different. The different parameters to be considered for formulating opinions

about a service provider were tabulated.

27
 It was clearly stated that the study was being undertaken for Branded computer s.

As a result, factors like the kind of handset used and post-paid offers available, were not

to be taken into consideration. The Customer were also asked to group the different

parameters listed by them into a few main sections.

Under each of these broad parameters; the important component attribute were

identified, which contribute to this factors as a whole. During the study a number of

constituent factors were obtained, but only the most important and relevant factors were

obtained, but only the most important and relevant factors were considered the important

factors were decided on the basis of in-depth interviews.

As an outcome of this initial study, three main factors were obtained that are used

by Customer for forming an opinion about a computer provider. These are:

1. Economy

2. Performance

In all, a total of four focus group discussions, with six Customer each, and 30 in-

depth interviews were conducted in this phase. Subsequent to this phase, a survey of

Customer was carried out during conclusive study phase, where in the importance of the

different parameters and their constituents were ascertained.

CONCLUSIVE STUDY PHASE

In this phase, a questionnaire was designed using the preliminary data collected

from the exploratory phase (Annexure 1). The questionnaire was administered to

28
respondents, who were graduate and post-graduate Customer from different colleges

from Lucknow . In all, a total of about 150 questionnaires were administered, out of

which 100 were finally considered as valid responses with complete data. Hence, the

effective sample size for this phase was 100 respondents.

For the executive of the present research, some methodology was adopted and

questionnaire has been developed for respondents which are fully capable to elucidate all

types of information required for the present study to identify the perception of Computer

telephony among youth of Lucknow City . Following the summary of the methodology

used for the research

Tools and techniques

Research Design : Exploratory Research

Data Type : Primary and secondary

Sample Size : 100

Contact method : personal

Sampling criteria : convenience sampling

Area Covered : Lucknow

Data Collection Tools : Questionnaire

Data Collection Techniques : In-depth interviews and focus group discussion

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CHAPTER II

• The background

• The promoters

• The company and its product line

• Features of the product

30
31
 THE BACKGROUND

Our Journey

Pioneering Excellence

There are few parallels in the annals of the Indian real estate and construction industry

that emulate the success trail blazed by Parsvnath Developers Limited. Over the past two

decades, our company

Quick Fact

Parsvnath is the first real estate company to have integrated with ISO 9001, 14001 and

OHSAS 18001.

32
has emerged as one of the most progressive and multi-faceted real estate and construction

entities in the country. Through the years, we at Parsvnath have stayed true to our

commitment to `building a better world’ by transforming barren tracts into landscaped

green belts housing world class commercial, residential and recreational properties.

Parsvnath is a company whose business philosophy lies in the commitment to creating

architectural marvels using state-of-the-art technology and global architectural,

construction and business practices. We are passionate about providing cost-effective and

holistic solutions for our customers while creating and adding value for our partners and

stakeholders. Our unwavering focus on these factors catapulted Parsvnath Developers

Limited into the top echelons of the Indian Real Estate and Construction Industry in

2007.

With a pan-India presence in over 45 cities in 16 states, we are steadfastly focused on

continuing to create and build dreamscapes that transform lives and the world around us –

be it through contemporary residential spaces, state-of-the-art office complexes,

affordable housing, luxurious, shopping malls and hypermarkets, posh hotels, futuristic

multiplexes, and ultra modern IT Parks and special economic zones.

Parsvnath is committed to making a difference.

33
Jammu & Kashmir

Jammu

Punjab

Derabassi, Mohali, Rajpura, Amritsar, Chandigarh

Haryana

Dharuhera, Faridabad, Gurgaon, Rohtak, Kurukshetra, Sonepat, Panchkula, Karnal,

Panipat

Uttarakhand

Dehradun

Delhi

Delhi

Rajasthan

Bhiwadi, Jodhpur, Jaipur

Gujarat

Jamnagar

34
Maharashtra

Pune, Shirdi, Nanded

Goa

Salgonda, Panaji

Karnataka

Mysore

Kerala

Kochi, Palakkad

Tamilnadu

Chennai

Andhra Pradesh

Hyderabad

Madhya Pradesh

Indore, Ujjain

35
Uttar Pradesh

Greater Noida, Ghaziabad, Mohan Nagar, Lucknow, Agra, Moradabad, Saharanpur,

Sahibabad, Khekhra, Raebareli

Bihar

Patna

36
 OUR VISION

Our Vision

Vision of a better world

Our vision statement can be encapsulated in our corporate philosophy

and motto of `building a better world’. To envision, design and

construct the most magnificent landmarks and edifices; to contribute

tangibly in regional and national development by way of key

infrastructure projects, and to protect and preserve the environment

we live in.

At the end of the day, our vision is about making the world a better

place to live in; to transform and uplift quality of living and lifestyles of

each and every individual that comes in contact with us.

37
 OUR MISSION
Committed to build a better world

• To cater to the real needs of a growing population

• To set standards and improve our environment

• Offer a wide portfolio of international quality products that cater

to different markets and segments

• To deliver value for money and excellent investment returns

• Take customer relationships and customer satisfaction to new

levels

• To focus on strategic growth

• Evolve contemporary benchmarks in construction and marketing

practices

38
 IMPORTANT MILESTONES

July 2008: Parsvnath Developers Limited announced an association with Mr.

Sabeer Bhatia and HSIIDC jointly promoted Nanocity Haryana Infrastructure Limited to

develop a Knowledge City spread over an area of 11,000 acres in Panchkula near

Chandigarh. The city named as “Parsvnath Nano city” is envisaged to sustain modern

lifestyle and will have world-class infrastructure. It is a public-private partnership project,

in which Haryana Government through HSIIDC will have 10% equity stake, Parsvnath

Developers Limited will have 38% equity stake and the remaining 52% will be with

Sabeer Bhatia promoted group.

• May 2008: Parsvnath Retail Limited envisaged the impact of globalization and

high standard of living of people and thus decided to bring forward the concept of

Luxury mall in the heart of the city – Connaught Place. The Company

strategically identified a plot situated at 27, Kasturba Gandhi Marg through a

subsidiary “Primetime Realtors Pvt. Ltd.” to build luxury shopping and state-of-the-

art offices.

The first of its kind mall will offer a mix of fashion, lifestyle and entertainment. The

39
luxury mall will showcase host of selected major international and Indian luxury

brands, across categories.

• April 2008: Strategic Tie up - for First FDI worth INR 186 crore in

Parsvnath Project. Parsvnath tied up with two Saffron Group funds for its first

Mumbai project for the development of BEST bus depot near the Bandra Kurla

Complex in Mumbai on April 17, 2008 on 30, 820 square metres of land area in

Kurla, Mumbai, situated on L.B.S. Road on East side, S. G. Barve Marg on North

side at Kurla (West).

• April 2008: "Foundation Laying of star rated project - Parsvnath

PRIDEASIA" at Chandigarh on April 5, 2008, by his Excellency Gen. (Retd.) S.F.

Rodrigues, PVSM, VSM, Governor of Punjab & Administrator UT along with Mr.

Pradeep Jain - Chairman Parsvnath Developers Ltd., Mr Mohan Jeet Singh IAS -

Chairman Chandigarh Housing Board and dignitaries of Chandigarh at its site at

Rajiv Gandhi Technology Park Chandigarh.

• February 2008: Announced JV of Parsvnath Hotels Ltd (PHL) and Royal Orchid

Hotels Limited (ROHL) under the name of “Parsvnath Royal Orchid Hotels” to

develop 10 projects. PHL own & develop these projects with JV Company to

operate.

• February 2008: Announced JV of Parsvnath Hotels Ltd (PHL), a subsidiary of

Parsvnath Developers Ltd with Fortune Park Hotels Ltd (FPHL), a wholly owned

subsidiary of ITC Ltd to develop 50 Projects.

• December 2007: Incorporated subsidiary company “Parsvnath Assets Ltd.”

40
• November 2007: Incorporated subsidiary companies “Parsvnath Retail Ltd.”,

Parsvnath Developers Pte Ltd” for Singapore, “Parsvnath Hotels Ltd.”

• October 2007: Announced tie up with Al-Hassan Group of Industries, Oman,

Muscat to undertake the offshore real estate development.

• September 2007: Launched 1st of its kind most premium project “Parsvnath

PRIDEASIA” in Rajiv Gandhi Chandigarh Technology Park

• August 2007: Parsvnath Developers Ltd. incorporated Parsvnath Telecom Ltd.

and was the first real estate company to gauge the business opportunity and planned

to diversify its business portfolio and went ahead to apply for Telecom license for

22 circles.

• November 2006: Came out with an IPO clearly witnessing a strong and healthy

investor’s response. The issue was oversubscribed by more than 55 times.

• August 2006 Received integrated management system certification comprising of

ISO 9001:2000, ISO 14001:2004 and OHSAS 18001:1999 certification from RINA

in relation to design, development, construction and marketing of infrastructures.

• June 2006- November 2006 Received formal approval of the GOI for the

development of four SEZ projects and in principle approval in relation to the

development of seven SEZ projects

• June 2006 Our bid for the development of an integrated facility at Rajiv Gandhi

Chandigarh Technology Park on 500,960.80 sq. mts. of land was accepted by the

Chandigarh Housing Board subsequent to which the Company has entered into a

development agreement and lease deed with the Chandigarh Housing Board.

41
• January 2006 – August 2006 Secured acceptance of bid from the DMRC for 2

property development projects in Delhi (Metro Stations at Azadpur & Common

wealth village site near Akshardham).

• 2005 “Parsvnath Exotica” Gurgaon: Launched the first of its kind mega and

prestigious project.

• 2004 – 2006 Secured ten concessions from the DMRC for the development of

malls at metro stations.

• December 2005 Received certificate from the ICL certifying compliance with the

Environment Management System Standard ISO 14001.

• September 2005 Received upgraded rating DR2- ICRA-NAREDCO rating from

ICRA Limited indicating strong project development capacity.

• November 2002 Received ISO 9001:2000 rating from the International

certifications Limited (“ICL”) in relation to the development, construction and

marketing of infrastructures.

• March 2002 Received DR3 ICRA-NAREDCO rating from ICRA Limited

indicating moderate project development capacity. Parsvnath Developers Limited

was the first real estate developer whose grading was published under by ICRA-

NAREDCO.

• October 2000 Our Flagship housing project “Parsvnath Estate” in Greater Noida

was launched which had 277 dwelling units in addition to 20 shops with a total built

up area of about 4 Lac sq. ft.

• 1998 Launched a commercial project “Parsvnath Plaza” in Saharanpur with a

saleable area of 1, 20, 000 sq. ft.

42
• 1994 Launched 1st large commercial (Shopping Mall) project in Moradabad,

Parsvnath Plaza – I, which was completed in three years and handed over units

during December, 1997.

• July 1990 Parsvnath Developers Limited was incorporated.

• May 1984: With no capital in hand Mr. Jain migrated to Delhi and started as a

broker for property selling of some established names. He also learnt and assisted

these companies in assembling land parcels. Having understood the finer norms of

housing business Mr. Jain started Parasnath and Associates Pvt. Ltd.

43
Chairman's Desk

Business in the new globalized economy is all about reaching out to the emerging

markets and getting competitive in the existing markets with better understanding of new

variables. This requires an integrated approach for both horizontal and vertical

operational synergy across various segments. In this new environment, the demand for

multi-faceted development has become crucial for keeping pace with the progression.

Parsvnath Group has taken an initiative and emerged as one of the prominent entities in

the real estate industry in the country. The business philosophy of the group derives its

core strength from a firm belief that lays stress on induction of state-of-the-art

engineering techniques and use of top quality materials in various construction projects.

Mr. Pradeep Jain

Chairman, Parsvnath Developers Ltd. Enlarge

44
45
Achievements and Industry Positions held by Mr. Pradeep Jain, Chairman,
Parsvnath Developers Ltd.

This results in cost-effective and holistic solutions specific to contemporary standards for

residential complexes and business centers. The group has forged linkages with leading

global consulting architecture firms to introduce new design and construction concepts in

India.

We at Parsvnath are constantly striving to scale new heights in professional competencies

and efficiencies by pushing performance and human potential to new limits. You may

experience this facet not only in the decision-making process at our company, but also in

a wide range of other activities which create value for our customers and business

partners. Using our intellectual and managerial prowess and harnessing the benefits of

state-of-the-art technology, Parsvnath Group is all set to venture into the next level of real

estate development and construction in the country.

I am sure with the patronage of our customers, banks, financial institutions and marketing

associates, we shall be able to fulfill the dreams of millions and set new benchmarks in

our stated spheres of activity and influence.

Pradeep Jain, Chairman

46
 KEY PERSONNEL

Meet the prime movers and motivators behind the Parsvnath

success story.

Chairman Mr. Pradeep Jain, (In the centre)

Managing Director Mr. Sanjeev Jain, (Left)
Director Dr. Rajiv Jain (Right)

Mr. P K Jain Mr. Pawan Dr. B P Dhaka Mr. S P Oberoi

President Gupta C.O.O (UP, MP) C.O.O (South)
President

47
Mr. Sunil Mr. Pawan Mr. R N Maloo Mr. M C Jain
Malhotra Kumar Sr. Vice President Sr. Vice President
Chief Financial Sr. Vice President (Finance) (Corporate)
Officer (Purchase)

Mr. V Mohan Mr. Sunit Mr. Deepak Col. V K Oberoi

Sr. Vice President Sachar Mowar (Retd.)
(Legal & CS) Sr. Vice Vice President Vice President
President (Market (Hotels, Retail, (Project)
ing & Cinemas &
Commercial) Strategic
Planning)

Wg. Cdr. R K Mr. Rajesh Jain Mr. V Ms. Jayanthi AR

Maheshwari Vice President Gopalakrishnan Vice President
(Retd.) (Moradabad) Vice President (Business
Vice President (Technical) Development)
(Mktg.)

48
Mr. Mahesh Mr. Umesh
Verma Kumar
Vice President Shandilya
(Liason) Vice President
(Legal)

49
 MOU with AMC

Parsvnath Developers Limited has signed a Memorandum of Understanding (MoU) with

Ahmedabad Municipal Corporation (AMC). Under the MoU, Parsvnath Developers Ltd

will establish projects in Gujarat and AMC would facilitate in obtaining necessary

permissions/registrations from concerned departments of the State and Central

Government.

AMC would also help the company to avail incentives under various schemes announced

by State/Central Government, wherever applicable.

50
 BOARD OF DIRECTORS

Mr. Pradeep Mr. Sanjeev Dr. Rajiv Jain Mr. G R Gogia

Jain Jain

Mr. Sunil Jain Mr. R N Mr. Ashok Mr. R J Kamath

Lakhotia Kumar

Dr. Pritam
Singh

51
INTEGRATED MANAGEMENT

52
53
54
55
BRAND ASSOCIATION

56
57
As Contractor

Telecom City, Noida

Doorsanchar Sehkari Awas Samiti Ltd. better known as Telecom City is a society floated

by the employees of MTNL and allied personnel of the telecom sector to provide housing

to its members in Sector 62, Noida.

This residential project comprising 200 units was made on a plot size of 14,544 square

meters. It offers 100 3-bedroom units and 40 2-bedroom and 4-bedroom units. The

society has over 70 percent green/open area and an in-house club with swimming pool,

gymnasium, etc.

The total cost of project including Services was Rs. 20.51 crore. The work was

successfully completed on time and handed over.

Platinum Independent Floor

We have constructed 111unit of approx. 1500 sq.ft. area of each unit at a cost of 9.07

crore for M/s Ardee Citi. The work has been successfully completed and handed over.

58
FDDI Project, Fursatganj, Raebareli

An Institute for FDDi, known as Footwear Design and Development Institute which is

under Ministry of Commerce and Industries, Govt. of India, is being constructed at

Fursatganj, Raebareli with total area of 28,000 Sqft. approx at a total cost of 47.0 Crores.

Sai Ashram, Shirdi

The Contract was awarded in December 2007. The Project Comprises of 17 Blocks of

approx. 9,00,000 sq.ft with entire infrastructure facilities. The contract value is Rs. 91.0

crore and work will be completed by Dec 2009. This will facilitate accommodation for

15,000 devotees per day on very Reasonable Tariff.

BSUDC, Patna

Buddha Smriti Udhyaan Project, an ionic tourism destination in the land of the origin of

Buddhism to house the relics of Lord Buddha. The work is awarded to us by a special

purpose company “Buddha Smriti Udhyan Development Company Ltd. (BSUDC) which

has been constituted as a joint venture between Government of Bihar & Indian Public

Private Partnership Capacity Building Trust (I-Cap). I-Cap is a Trust under the Indian

Trust Act 1882 contributed by Infrastructure Development Co. LTD. (IDFC). The

development, designed by M/s. Lall & Associates, consists of beautifully landscaped

areas, a Stupa, Meditation Halls, Museum, Car Parking and Public Amenities.

The project is spread over in approx. 20.65 Acre area at Prime location at Old Bankipur

59
Jail near Patna Railway Junction.

The total cost of the project is 125 Crore.

The agreement for the same was signed on 27.06.08

Dhaula Kuan DMRC Station, New Delhi

Dhaula Kuan Metro Station work for Airport Metro Express commenced in Oct 2008.

The total Estimated Cost of the Project is Rs. 29.42 crores. The work was started in Oct

2008 and will be completed by Sep 2010.

Apart from the above projects we have successfully completed and handed over various

projects like, Regency Creations- Moradabad, Tulip Garden – Sushant Lok III, Gurgaon

and Omsons Holiday Inn Pvt. Ltd – Moradabad..

60
61
 SEGMENTATION OF THE REAL ESTATE

MARKET

With the proliferation of real estate users, several segments have also

emerged lately, each with their own specific needs. The real estate consumer

market has been segmented in the figure below-

The rationale behind the segmentation is to identify customers on the basis

of their stage in life and hence, to tailor-make schemes for each customer segment.

The different segments are explained below.

Over the years, service providers have started giving greater attention to this

segment, as it has ·emerged as one of the biggest users of realestate. For the young,

generation is not just a necessity, but rather an indispensable accessory. This

segment particularly values schemes with his flat . It is further' differentiated into

various micro-segments based on age and gender. For instance, Older person in the

age group of 50 to 75 years generally have a large circle of friends and more access;

to money. Companies thus focus on providing services like group talk.

This segment is very dynamic as its needs keep changing very frequently,

driven by the latest trends and fads.

YOUNG PROFESSIONALS :

People entering the workforce and thus moving out of the dependent bracket
constitute this market segment. They generally prefer using flat information.

62
SPECIAL :

This category includes a small but growing segment which requires largely

customized services sought by celebrities, politicians, CEOs and the super-rich.

Tailor-made schemes for each segment have been a great success so far. This

customization, however, has reached such a stage that every service provider has

numerous schemes being provided at the same time. They keep changing frequently

these short-term schemes, and customers thus start Switching from one service

provider to another based on the attractiveness of the scheme. This has brought

down customer equity and hence service providers are finding it difficult to retain

existing customers. It is estimated that in the near future the plethora of schemes

provided by the different service providers will stop being a differentiating factor.

63
CHAPTER III

• About the project (Topic) taken in the organization

• Survey, Feedback, Findings & Data Analysis

64
 ABOUT THE PROJECT

Topic : DEMAND & SUPPLY IN HOUSING FOR LUCKNOW SPECIFIC

PARASNATH DEVELOPER

The report is the result of a survey which was undertaken in Lucknow city. The

objectives of the project has been fulfilled by getting response from the customer

associated to these segments through a personal interview in the form of a questionnaire.

The responses available through the questionnaire are used to evaluate the supply and

demand for the products of Parasnath developer and the willingness of the customer to

purchase its products on future.

The project also covers an analysis of the switch over of customers to competitor's

products in the market.

65
66
DATA ANALYSIS AND INTERPRETATION

Which Income group do you belong?

1000-15000 23
16000-25000 27
26000-350000 21
above 36000 29

29% 23%

27%
21%

1000-15000 16000-25000 26000-350000 above 36000

67
Are you a want to invest in real estate ?

Yes 73
No 27

27%

73%

Yes No

68
If Yes, In which Corporation ?

LDA 33
Parsavnath 27
Free Hold 19
Omax 21

21%
33%

19%

27%

LDA Parsavnath Free Hold Omax

69
If Parsvnath then why

Quality 17
Facility 27
Security 31
Other region 25

25% 17%

27%
31%

Quality Facility Security Other region

70
If Parvnath? Which one?

Quality 21
Performance 17
Low in prize 27
Security 35

Quality Performance Low in prize Security

71
Which feature do you like in your Home?

Quality 23
After sales value 37
Comfortable 40

23%
40%

37%

Quality After sales value Comfortable

72
Why did you prefer Parsvnath above others?

Low in prize 23
Good after sales service 27
Resale value 33
Security 17

17% 23%

33% 27%

Low in prize Good after sales service Resale value Security

73
How will you rate your present home performance?

Poor 0
Satisfactory 23
Fair 21
Good 27
Very good 17
Excellent 12

12% 0%
23%
17%

21%
27%

Poor Satisfactory Fair Good Very good Excellent

74
Q10. If provided an opportunity, will you purchase a parsvnath flat again?

Yes 77
No 23

23%

77%

Yes No

75
If yes. Why?

Quality 17
Low maintenance 27
Security 26
Architecture design is very good 17
Resale value 13

13% 17%
17%

27%
26%

Quality Low maintenance

Security Architecture design is very good
Resale value

76
If no. Why?

Price 37
Product do not match specification 33
Maintenance 30

30%
37%

33%

Price Product do not match specification Maintenance

77
Do the present Parsvnath product range satisfy for your need.

Yes 77
No 23

23%

77%

Yes No

78
Q14.Do you suggest Parsvnath products to others

Yes 77
No 23

23%

77%

Yes No

79
CHAPTER IV

80
 SUGGESTION AND RECOMMENDATION

The report comes to the following conclusion

 The customers of Parasnath are brand loyal with only a small percent want to shift

over to other brands. Trying of other brands by customers is mainly because the

customer wants to try something new.

 The performance of Parasnath is fair in comparison to other brands.

 Quality is the basic feature influencing brand Equity.

 The best selling product is Parasnath and the least selling

 The competition of Parasnath is meagerly with LDA.

 Due to high brand Equity of the customers of Parasnath recommend it’s product to

others.

 The customers are satisfied with the product range of Parasnath .

The recommendations are

81
 The brand equity for Parasnath can be increased if the price and appearance of the

products are given due attention

 The switch over of the customers can be prevented if more of new products are

launched more frequently like Parasanath and Eldco which launches new products

with slight variations from the previous models.

82
CHAPTER V

83
 CONCLUSION

The report comes to the following conclusion

 The customers of Parasnath are brand Loyal with only a small percent wants to shift

over to other brands. Trying of other brands by customers is mainly because the

customer wants to try something new.

 The performance of Parasnath is fair in comparison to other pro brands.

 Mileage is the basic feature influencing brand Equity.

 The best selling product is Parasnath.

 The competition of Parasnath is majorly with Eldeco.

 Due to high brand Loyal the customers of Parasnath recommend it product to others.

 The customers are satisfied with the product range of Parasnath.

84
 RECOMMENDATION

The recommendations are

 The brand Equity for more Parasnath can be increased if the price and appearance of

the products are given due attention because Eldeco has captured a major share of real

estate.

 The switch over of the customers can be prevented if more of new products are

launched more frequently like Eldeco which launches new products with slight

variations from the previous models.

 After sales services of Parasnath are good but it still needs improvements.

 The most selling Computer should be given schemes like free gift, extended on real

estate.

85
86
 BIBLIOGRAPHY

BOOKS AUTHORS

 Marketing Management : Philip Kotler

 Marketing Research : D. D. Sharma

 Research Methodology : C. R. Kothari

 Websites

 www.parasnath.com

 www.Altavista.com

 www.google.com

87
 QUESTIONNAIRE

Name:

Contact no:

Q1. What is your age?

Q2. Which Income group do you belong?

a. 1000-15000 b. 16000-25000

c. 26000-350000 d. above 36000

Q3 Are you a want to invest in real estate ?

 Yes

 No

Q4 If Yes, In which Corporation ?

a LDA b. Parsavnath

c. Free Hold d. Omax

Q5. If Parsvnath then why

a. Quality b. Facility

c. Security d. Other region

Q6. If Parvnath? Which one?

88
 Quality

 Performance

 Low in prize

 Security

Q7. Which feature do you like in your Home?

 Quality

 After sales service

 Comfortable

Q8. Why did you prefer Parsvnath above others?

 Low in prize

 Good after sales service

 Resale value

 Security

Q9. How will you rate your present home performance?

 Poor

 Satisfactory

 Fair

 Good

89
 Very good

 Excellent

Q10. If provided an opportunity, will you purchase a parsvnath flate again?

 Yes

 No

Q11.If yes. Why?

 Quality

 Low maintenance

 Security

 Architecture design is very good

 Resale value

Q12. If no. Why?

 Price

 Product do not match specification

 Maintenance

Q13.Do the present Parsvnath product range satisfy your need.

 Yes

 No

Q14.Do you suggest Parsvnath products to others

90
 Yes

 No

91