Exclusive: Dr Niranjan Hiranandani on Building an Empire, India’s Growth Story, and Why Real Estate is the Best Investment

Real Estate Market in India, is one thing that has seen an upward trend, with PM's Awas Yojana it has further boost the development in this particular sector and in this exclusive discussion with Co-Founder & Managing Director of Hiranandani Group, Dr Niranjan Hiranandani, we decode everything related to real estates and his life.

Excerpt from the Conversation:

Niranjan Hiranandani, the man who has redefined city skylines and created entire geographies, believes that while business is often thought of as a game for the head, not the heart, real estate demands emotion. “When we’re creating homes for people, builders must put their heart into it,” he says.

India’s real estate sector, according to Hiranandani, is currently on a strong growth path. With the economy growing at 6–7%, infrastructure investment becomes the backbone of job creation, which in turn fuels the entire ecosystem. “If we invest in real estate, it helps generate employment across the country,” he points out.

His own journey into this sector was far from straightforward. Coming from a family of doctors, his father being one of the country’s top ENT specialists, Dr. Hiranandani has been trained as a Chartered Accountant and even taught in CA school. “Nobody in my family was sure about me doing business, but I had one aspiration to become a builder and create homes that are not just spaces to live in, but spaces that make people happy. I started with a dream, really.”

He recalls that when he started out, things were far from easy. Borrowing from banks was more difficult than today, but that didn’t deter him. Today, he strongly advises young buyers to consider purchasing property, even with a small loan rather than renting. “When we are old, we cannot afford to build the home of our dreams. In India, we don’t have social security. Owning a home becomes a crucial investment for the future.” In short, to summarise the real estate Tycoon, it’s a safety net.

Speaking about his son Darshan’s achievements, Dr. Hiranandani beams with pride. Darshan built 23 Marina, once India’s tallest building and now the second tallest. “I told him, this is the tallest building, how will you make it? Nobody has done anything like this before. He replied, ‘Which is why I want to build it.” The proud father that he is, also, spoke about the two way learning graph.

Adding on the different aspects of his business, different sectors including health, education, Niranjan Hiranandani emphasised on 5 new properties across Mumbai and the newest one in Alibaug.

Moving on, on the broader investment trend of Indians moving to Dubai, Dr. Hiranandani notes that while tax advantages are a major draw, many also see Dubai as a desirable second home destination. Yet, he remains optimistic about India’s prospects while answering Trump's take on India's economy, “We might look like we are struggling at times from an outsider perspective, but we are in fact the fastest-growing economy. By 2047, I believe we can be the top economy in the world. India has a beautiful growth story."

He is clear about what drives real estate growth in any country: opportunities, infrastructure, and public welfare. “India needs to focus on what we need to do, rather than what others think of us,” he says, citing issues like eradicating slums, providing water for all, and creating opportunities as key priorities.

Interestingly, the Hiranandani Group’s original vision was to create quality housing for the lower middle class, but the quality of work ended up attracting wealthy buyers, elevating the brand into the premium segment. “We wanted to make it available for everyone… but the richer buyers liked it too, and my properties became premium,” he reflects.

Looking ahead, Hyderabad is on his radar for expansion in the next 6–7 years, although there are no immediate plans. He also notes the transformative role of AI in the sector, from building layouts, models to communication and believes those not embracing it are in the “past.”

Despite decades in the business, the “fire” is still alive. “One thing that hasn’t changed is the aspiration to do better, give a better deal the next time, create better ideas the next time. I was never in competition with other companies; my only competition was with myself.”