Kunal Premnarayen who serves as the Group CEO at ICS Group is responsible for maintaining the track record of leadership in the real estate services and takes key decisions with respect to strategizing, client management, etc. Having graduated from Wake Forest University in North Carolina (Communications), he worked with Merrill Lynch and Lucent Technologies in the USA. He has been with ICS since the time he returned to India. His insight about the booming real estate sector in India enabled him to play hands on role in the working of the company. Besides devising long term and medium term strategies, he works with varied individual CEOs and is operationally involved with the asset management business ofthe company.
ICS Group offers wide-ranging services catering to Real Estate and Financial Services. By bringing in the international best practices, the company wishes to uplift the standard of services in our country. Professional ethics and integrity is at the heart of its activities. Its tie- ups with the international domain leaders like Old Mutual Property (South Africa), Bentel Associates (South Africa), Secure Parking (Australia) has enabled it to attain expertise in each of these domains.
In an interview with Anil Mascarenhas of IIFL, Kunal Premnarayen mentioned that this collaboration with numerous international partners of diverse disciplines has enabled ICS to explore new avenues and keep themselves abreast of the latest trends and happenings. He explained his business model stating that the company‘s present activities revolves around segments including real estate, hospitality, asset management and financial services. The real estate sector has divisions including Property Development & Management, Architectural Services, Parking Management and Consultancy. The financial sector entails to corporate finance and asset management. It has recently entered the hospitality sector.
Speaking about the services of his company, Kunal Premnarayen stated that the real estate sector has PPZ, which serves to be the property management and development business of the group. Bentel Associates Realty Design Consultants caters to the company’s architectural design and development segment. Secure Parking Solution is the company’s parking management section. Ayana Hospitality is its new luxury boutique division. It offers financial advice to institutions via its Financial Services.Their revenue model adheres to charging fees to itsclients by providing services that are capable of adding value to their business.
Projects that have enabled it to accomplish this feat include Bentel, Pioneer Property Zone, Secure Parking, and Asset Management projects across more than 25 cities. The asset management of the group accounts for an AUM of around Rs. 375 crores. This division intends to accumulate its next fund worth Rs.1350 crores.
Their foray into the luxury boutique segment with Ayana will explore the immense potential in the boutique segments in the Indian subcontinent and South – East Asia. Adhering to their philosophy of collaborating with the top players in the key domain, they tied up with Mantis, the leaders in this industry (Boutique Hotels, game reserves, luxury yachts). Their venture in this segment was to provide niche services to foreigners and affluent class who look for luxurious accommodations. Indian Tourism Industry is increasingly gaining momentum these days and this will serve to be a thrust factor for their business according to him.
Their clientele include Prestige Group, DB Group, Brigade Group, Bansal Group, Mantri Group, etc. He added that their capex is limited as they belong to the service industry and are funded by internal accruals. He also revealed that Mr. Deepak Premnarayen and his family are the sole owners of the company.
Apart from being a dynamic team leader, Kunal Premnarayan is an ardent sports person who was ranked as one among the top five tennis players being the national champion of Maharashtra earlier. He is also passionate about running and squash. According to him, his interest in sports has contributed a lot to the success he is enjoying presently. He got an opportunity to meet and work with different people belonging to different countries and comprehend different cultures, which enabled him to work energetically and take up responsibilities at a young age. Besides, tennis infused in him qualities like determination and diligence that makes him a go- getter.
