Emergence As Tourist Hub, Market Lessons From Ramayana | Ayodhya Rising | NDTV Profit - video Dailymotion

NDTV Profit

- What can market participants learn from #Ramayana? - #Ayodhya's emergence as new tourist hub - Opportunities #AyodhyaTemple will bring   Tamanna Inamdar brings you top industry voices on 'Ayodhya Rising'. #NDTVProfitLive

Transcript

00:00:00 [MUSIC PLAYING]

00:00:03 Welcome to this special show on NDTV Profit,

00:00:29 where we're talking about Ayodhya Rising.

00:00:32 Now, the big story today is one of faith.

00:00:35 It's one of spirituality.

00:00:36 It's one of devotion.

00:00:38 But it is also one about how tourism, spiritual tourism,

00:00:44 and a whole economic ecosystem can

00:00:46 find a huge boost with a planned program like this one.

00:00:53 Today on the show, you're going to be hearing

00:00:55 a variety of voices on NDTV Profit, where

00:00:58 we take you through the entire unlocking of tourism

00:01:02 and spiritual tourism potential as Ayodhya rises.

00:01:08 Of course, the big event at the Ram Temple

00:01:10 will be later this afternoon.

00:01:13 But meanwhile, we will be looking

00:01:15 at what kind of contribution we are seeing of tourism

00:01:19 to the GDP, the growth of tourism in Ayodhya,

00:01:23 and the kind of investments which have come in.

00:01:26 So just for some perspective-- and this

00:01:28 is a Jeffrey's note I'm talking about--

00:01:30 religious tourism is the biggest contributor and segment

00:01:34 in India.

00:01:35 And this new center is an example

00:01:38 of how improved infrastructure can create economic impact.

00:01:44 So the cost of the Ram Temple is about 1,800 crore rupees.

00:01:48 Tourism is projected to surge here.

00:01:51 Economic and religious migration will also increase.

00:01:55 Look at the spillover effect you're seeing.

00:01:57 Hotels, airlines, hospitality, FMCG, travel, ancillary, cement,

00:02:01 all of them will be getting a big boost.

00:02:06 You already have the phase one of the new airport coming in,

00:02:09 which can handle 1 million passengers.

00:02:11 And by 2025, you will have additional capacities coming

00:02:15 in as well.

00:02:16 So definitely, this is also a big economic and business

00:02:19 story.

00:02:20 We're focusing on it from all of the angles.

00:02:23 But first, we're going to begin with the mood of the day

00:02:26 with two very special guests.

00:02:28 I'm joined today by Nilesh Shah, Group President and MD,

00:02:31 Kotak AMC, and Vijay Kedia, MD, Kedia Securities.

00:02:35 Good morning, gentlemen.

00:02:37 What are we going to talk about today?

00:02:39 We're going to talk about lessons from the Ramayana,

00:02:42 lessons for investors, lessons for traders,

00:02:45 lessons for wealth creation.

00:02:47 Welcome to this special show.

00:02:50 Thank you.

00:02:51 Thank you.

00:02:52 All right.

00:02:53 [INAUDIBLE]

00:02:54 Absolutely.

00:02:55 Nilesh, let me begin with you.

00:02:57 Let me begin with you.

00:02:58 And some people might wonder why we're

00:03:02 linking Ramayana and lessons from Lord Ram's journey and life

00:03:09 to the markets.

00:03:10 Would you agree that there is a very clear link and lesson

00:03:13 for investors?

00:03:15 Undoubtedly, the Ramayana and Mahabharata,

00:03:20 these are our scriptures.

00:03:22 And they carry us throughout the life,

00:03:25 whether it is in market or outside of market.

00:03:29 Let's look at a few things.

00:03:32 Bhagwan Ram was God.

00:03:34 And yet, he went through ups and downs.

00:03:38 From becoming king of Ayodhya to go to jungle for 14 years,

00:03:42 there were ups and downs.

00:03:44 In market also, we witness ups and downs.

00:03:49 Sita Mata was Devi.

00:03:51 And yet, she was lured by a golden deer.

00:03:56 We are also human beings.

00:03:58 We also get lured by greed and fear.

00:04:02 We have to control our greed.

00:04:05 Sita Mata was Surakshit when she was within the Lakshman Rekha.

00:04:11 Like traders, like investors also

00:04:13 have to honor their Lakshman Rekha.

00:04:16 Beyond the Lakshman Rekha, there is certainly losses.

00:04:21 But if you operate within the Lakshman Rekha or discipline

00:04:25 of stop loss for traders and averaging

00:04:28 and long term for investors, then there is money to be made.

00:04:32 So there are multiple lessons in Ramayana

00:04:35 which can be applied to our life, both in market

00:04:40 as well as outside of market.

00:04:43 You know, the Lakshman Rekha, I think,

00:04:45 is a very, very important point and very relevant to what

00:04:49 we are seeing.

00:04:50 We're in a market boom cycle.

00:04:54 We are in a place where FNO focus has increased.

00:04:57 People are willing to take more risks.

00:05:00 Vijay Kediaji, according to you, how

00:05:02 do you set those Lakshman Rekhas?

00:05:05 What are the lessons here?

00:05:07 So what I understand, Tamanna, first of all,

00:05:12 regarding Ramayana, Nilesh bhai has said everything

00:05:15 that what we can learn and we had been learning

00:05:17 or our ancestors, what we had been learning since--

00:05:20 [NON-ENGLISH SPEECH]

00:05:23 So I think everybody has to draw its own Lakshman Rekha.

00:05:26 This is what I have understood in this market.

00:05:28 So there are some fixed rules.

00:05:30 But there are some rules which had to be

00:05:32 decided by your own self.

00:05:34 As I always say that, know yourself.

00:05:36 KYS is more important than KYC in stock market

00:05:39 while investing or trading or whatever,

00:05:40 indulging into any kind of activity in this market.

00:05:43 So that KYS actually leads you to draw your own Lakshman Rekha.

00:05:47 So you create your own do's and don'ts

00:05:49 that these are particular things which

00:05:51 are not suitable to my mindset, not suitable to me.

00:05:53 So I am going to draw a Lakshman Rekha,

00:05:56 and I'm never going to cross.

00:05:59 So the moment you cross that Lakshman Rekha,

00:06:01 then Ramayana tells us what happened in Ramayana.

00:06:05 So everybody needs to understand the market.

00:06:08 Before drawing the Lakshman Rekha,

00:06:10 you need to understand the subject matter.

00:06:12 Without understanding, you cannot draw a Lakshman Rekha.

00:06:14 So that is why this knowledge and experience

00:06:17 is very much important.

00:06:19 And sometimes, Tamannaah, if we learn everything

00:06:21 from our own life, then one life will really fall short.

00:06:24 So sometimes you draw your own Lakshman Rekha,

00:06:26 and sometimes you follow that Lakshman Rekha,

00:06:30 you obey the principle of that Lakshman Rekha drawn

00:06:33 by maybe your parents or maybe by the people whom you follow.

00:06:38 So that is also very important.

00:06:41 - You know, the other big lesson, of course,

00:06:44 Nilesh Bhai, is about discipline.

00:06:47 Discipline and having the patience.

00:06:50 Whether, you know, you draw lessons from

00:06:53 Chauda Saal Ka Vanvaas, but having the patience

00:06:56 to see your investments grow over time.

00:06:58 What are the parallels you can draw there?

00:07:00 - In Ramayana, we have been told that even though

00:07:05 Ravan was a demon, his Lanka was made of gold.

00:07:10 And Ayodhya, even though it was ruled by Raja Ram,

00:07:16 we don't hear that it was made of gold.

00:07:19 Now, Valmiki Ji and Tulsidas Ji hasn't mentioned much

00:07:22 about why Lanka was made of gold and Ayodhya wasn't.

00:07:27 But my conclusion is very simple.

00:07:30 The Lankans were investing like Kumbh Karna.

00:07:33 They used to invest in stock market

00:07:35 and go to sleep for 14 years.

00:07:37 They were long-term investors.

00:07:39 And probably, Ayodhya Vasi were day traders.

00:07:43 They were trading in F&O, they were trading in stocks.

00:07:46 Net-net, Lanka became of gold.

00:07:49 If you want to be an investor, you have to develop

00:07:53 long-term vision like a Kumbh Karna.

00:07:56 Now, obviously, Kumbh Karna used to go to sleep.

00:07:58 We can't do that in market.

00:08:00 But we need to have Kumbh Karna kind of time horizon

00:08:04 to make money in the market.

00:08:06 - Absolutely.

00:08:09 Kumbh Karna type of time horizon.

00:08:12 That definitely is a lesson in patience.

00:08:16 Vijayji, you are very well known for your singing

00:08:21 and your musical abilities, and especially your poetry.

00:08:25 What have you prepared for this occasion?

00:08:30 - So, okay.

00:08:31 Thank you for giving me this opportunity.

00:08:33 Yes, I have prepared a poem, a short poem,

00:08:36 which I will recite.

00:08:37 (speaking in foreign language)

00:08:42 (speaking in foreign language)

00:08:46 (speaking in foreign language)

00:08:50 (speaking in foreign language)

00:08:54 - Wow.

00:09:19 You know, this in typical style, that's just wonderful.

00:09:24 You know, Nileshbhai, I was just thinking about it.

00:09:29 Spirituality is something that everyone experiences

00:09:32 individually, but this entire day today

00:09:35 and the last few days is showing a sort of collective,

00:09:40 you know, I would say a geshen, an occasion

00:09:44 of everyone coming together to celebrate something

00:09:46 that's important to them.

00:09:47 What do you think is the biggest sort of takeaway

00:09:50 from an event like this?

00:09:51 And how does it relate to the kind of,

00:09:55 I would say joyous celebration we've been seeing

00:09:57 in the markets as well?

00:09:58 - So many, many years ago, a lot of us fund managers

00:10:04 were sitting with some very, very knowledgeable person.

00:10:08 And he asked, "What makes a country grow?

00:10:11 How does a country become underdeveloped

00:10:14 to develop nations?"

00:10:16 We were all fund managers and we said capital,

00:10:20 markets, efficiency, productivity,

00:10:23 utilization of land, labor, and resources.

00:10:27 And finally he asked a question,

00:10:30 "Does character of people matter?

00:10:32 Has Japan risen because their people

00:10:36 had discipline and character?

00:10:39 Has America risen because their people had character?"

00:10:44 I think we, the market-oriented people,

00:10:48 probably give far less importance to character

00:10:51 than needed in a country's growth trajectory.

00:10:55 Every country prospers based on certain anchoring.

00:11:00 And that anchoring in India's case has to be spiritualism.

00:11:03 Spiritualism is different from religion.

00:11:07 But as long as we are all anchored into our character,

00:11:12 into our spiritualism, as Vijaybhai mentioned,

00:11:15 there's no one who can stop India's progress.

00:11:19 We are a culture where (speaking foreign language)

00:11:24 We are a culture where if a visitor comes,

00:11:30 we provide buttermilk to them in summer

00:11:33 and water in winter.

00:11:36 These are all ingredients of our spiritualism.

00:11:39 And as country becomes more spiritual,

00:11:41 as people and citizens develop character,

00:11:44 I think that results into progress of the country.

00:11:48 - Absolutely.

00:11:50 I think a lot of lessons about tolerance,

00:11:55 extending mercy to those who are weaker,

00:12:00 all of those are lessons, of course, from the Ramayana.

00:12:04 But let's come back to lessons for the markets

00:12:08 and for investors.

00:12:09 And Ileshbhai, you have an interesting take

00:12:11 on spotting multi-baggers.

00:12:14 Tell us about that.

00:12:15 - So essentially, if you look at Ramayana,

00:12:21 Lakshmanji got hit by Indrajith's bow and he fell down.

00:12:26 And then Vibhishan says that there is a Vaitraj in Lanka,

00:12:33 whom if we can bring, he can probably help revive Lakshman.

00:12:37 The Vaitraji comes and says, "Lakshmanji needs Sanjivani."

00:12:41 And then Hanumanji goes to fetch Sanjivani.

00:12:44 He doesn't recognize Sanjivani,

00:12:47 and hence he lifts entire mountain and brings it.

00:12:50 In investment also, everyone wants Sanjivani,

00:12:54 a Sanjivani which is a multi-bagger.

00:12:56 But everyone is not like Vijaybhai.

00:12:59 And I'm sure Vijaybhai will also agree

00:13:02 that sometimes you have to carry a whole big mountain.

00:13:06 And from that, something will become Sanjivani.

00:13:09 Like Hanumanji couldn't recognize Sanjivani

00:13:12 and had to carry the mountain.

00:13:14 An investor also has to carry the mountain

00:13:17 and have kundkarna kind of time horizon

00:13:20 to really find Sanjivani.

00:13:22 - You know, that's the big challenge right now.

00:13:27 Vijay KD, I'll come to this.

00:13:29 (speaking in foreign language)

00:13:33 - For many years, (speaking in foreign language)

00:13:39 (speaking in foreign language)

00:13:43 (speaking in foreign language)

00:13:48 (speaking in foreign language)

00:13:52 (speaking in foreign language)

00:13:55 (speaking in foreign language)

00:14:19 - So what I learned from Vivishan, exit strategy.

00:14:23 Best exit strategy can be learned

00:14:25 from the character of Vivishan.

00:14:28 He was associated with a AAA company, okay?

00:14:31 Which was a really AAA, as Nileshbhai said,

00:14:33 (speaking in foreign language)

00:14:34 Just imagine.

00:14:35 (speaking in foreign language)

00:14:39 (speaking in foreign language)

00:14:43 Anyway, so Vivishan was associated with a AAA company.

00:15:04 But when he found and he realized

00:15:06 that this is AAA company,

00:15:07 the management of the company is defocused now.

00:15:10 (speaking in foreign language)

00:15:14 (speaking in foreign language)

00:15:18 (speaking in foreign language)

00:15:22 (speaking in foreign language)

00:15:26 (speaking in foreign language)

00:15:34 - Vijay KD, you know the fact that

00:15:40 don't go in for what you can't really achieve.

00:15:44 Know your limits.

00:15:45 What do you think the lesson is there?

00:15:47 - You're asking me?

00:15:49 - Yes, yes.

00:15:50 - No, of course.

00:15:51 You should know your limits.

00:15:52 Like again, like Nileshbhai said,

00:15:55 (speaking in foreign language)

00:15:58 (speaking in foreign language)

00:16:02 - Yeah, yeah.

00:16:24 So absolutely, you have to have a balance on greed.

00:16:27 You have to understand that you need to have patience.

00:16:31 Nileshbhai, you also have to understand

00:16:35 about what your larger duty is to society.

00:16:39 And I think that's also an important lesson

00:16:41 when you think like an investor.

00:16:43 That yes, of course, everyone is here in the markets

00:16:45 to make money, to create wealth.

00:16:47 But what do you do with that wealth

00:16:49 also is important, isn't it?

00:16:50 - Undoubtedly.

00:16:53 In Ramayana, the story is all about

00:16:56 (speaking in foreign language)

00:16:59 He always discharges his duty to the society.

00:17:03 If he has to ask Sita Mata to go through Agni Pariksha,

00:17:08 even though he's fully convinced

00:17:10 that Sita Mata doesn't need any Agni Pariksha,

00:17:14 yet he goes through that pain.

00:17:16 So to discharge his responsibilities and duties.

00:17:20 There is always a conflict of interest

00:17:24 for a promoter, for an investor, for other stakeholders.

00:17:29 And how do we manage that conflict of interest?

00:17:32 That is most important.

00:17:34 There are four quotients in life.

00:17:37 One is the Ram quotient.

00:17:40 Over here, your goals and your objectives are not only pious,

00:17:45 but the means to achieve those goals are also pious.

00:17:48 There's no scope for a shortcut there.

00:17:50 Second is Krishna quotient.

00:17:53 This is Kali Yuga,

00:17:55 where sometimes we are forced to take shortcuts.

00:17:59 Krishna wanted to win Mahabharata war for Pandavas.

00:18:03 It was important to kill Karna.

00:18:05 After encouraging Arjuna to kill Karna,

00:18:10 finally Krishna shares that incidentally,

00:18:13 he was your elder brother.

00:18:15 The goal of winning Mahabharata war was important

00:18:18 and means to achieve that where a brother

00:18:20 has to kill his elder brother was necessary.

00:18:25 So there is Krishna quotient.

00:18:27 In life, always try to win Ram quotient.

00:18:30 Sometimes because this is Kali Yuga,

00:18:32 you have to go to Krishna quotient.

00:18:34 Then there are two other quotients

00:18:37 which are completely avoidable.

00:18:39 One is Duryodhana quotient.

00:18:42 Duryodhana means to achieve our pious righteous,

00:18:47 but goals are always wrong.

00:18:49 Even when he's fighting for his life,

00:18:52 in the final hour of war,

00:18:55 he doesn't hit below the belt.

00:18:57 Bhimsen hits him below the belt to kill him.

00:19:00 Duryodhana's means were right, but goals were wrong.

00:19:04 Never ever follow Duryodhana quotient.

00:19:07 And then there is Ravana quotient,

00:19:09 where means and goals both are wrong.

00:19:12 As Vijaybhai mentioned, triple-errated company,

00:19:15 but the management's goals and means

00:19:17 to sustain that triple-errated rating was disaster.

00:19:21 Eventually that destroyed his golden Lanka.

00:19:25 So in life, always try to follow in Ram quotient.

00:19:29 Sometimes you have to go to Krishna quotient

00:19:32 because this is Kali Yuga,

00:19:34 but ensure that your goals are always righteous.

00:19:37 Never ever get tempted to get into Duryodhana

00:19:42 or Ravana quotient.

00:19:44 If we follow this two by two quotient,

00:19:46 I think all conflict will be resolved.

00:19:49 - Absolutely.

00:19:52 You know, it's interesting.

00:19:55 When we thought of this concept for the show,

00:19:58 the idea was how much can you relate

00:20:01 between the challenges that investors and traders,

00:20:05 market participants find, and this story of the Ramayana.

00:20:09 And there is so much that is relatable.

00:20:12 Vijay KDH, do you want to come in on this?

00:20:15 What do you think are the biggest lessons

00:20:17 that are relevant in today's challenging times

00:20:20 where there is so much of information flow?

00:20:22 And the question for investors is,

00:20:25 what do I trust?

00:20:26 How do I make the right decision?

00:20:28 - The best way to is to cut the weeds.

00:20:35 So because knowledge is free,

00:20:38 everything is available everywhere.

00:20:40 So you have to decide that what you want to pick and choose

00:20:43 and what you want to leave on the table.

00:20:46 So I agree with you.

00:20:47 (speaking in foreign language)

00:20:51 (speaking in foreign language)

00:20:55 (speaking in foreign language)

00:21:00 (speaking in foreign language)

00:21:05 (speaking in foreign language)

00:21:09 (speaking in foreign language)

00:21:39 - Lessons over there.

00:21:40 Going forward, Nilesh bhai,

00:21:42 and we've spoken about all the heroes per se of the story,

00:21:46 but what about the villain of the story of Ramayana,

00:21:49 of Ravan, and how lessons come from his journey as well

00:21:54 about how destructive ego can be.

00:21:58 How would you relate that to a time

00:22:00 where there are a lot of market participants

00:22:02 who perhaps feel that they're very good

00:22:04 at spotting stocks or investment opportunities?

00:22:07 Maybe they have all really been rewarded

00:22:12 by the tide of the markets.

00:22:14 How do they check their ego?

00:22:15 - So Tamannaah, I wouldn't call Ravan villain of the story.

00:22:21 Ravan had many great abilities.

00:22:25 He was very, very educated.

00:22:29 He ran, obviously, a very, very good administration

00:22:32 to make Lanka golden.

00:22:35 However, if he had 99 guns, he had one of gun,

00:22:40 the gun of ego.

00:22:43 There was no reason for him to go and kidnap Sita Mata.

00:22:48 There was no reason for him to put at stake

00:22:52 entire Lanka against Bhagwan Ram.

00:22:55 There was no reason for him to ignore advises

00:22:58 of his own wife, Mandodari, or his own brother, Vibhishan.

00:23:04 Ravan's ego destroyed entire golden Lanka.

00:23:08 And in stock market, every day we have seen

00:23:12 when you get ego, when you believe you are market guru,

00:23:16 your end is certain.

00:23:19 You will get crashed to the ground.

00:23:21 Market is bigger than all of us.

00:23:23 We are lifelong student of the market.

00:23:26 We cannot afford ego.

00:23:28 The day we get ego, I'm 100% sure

00:23:31 it will be end of our journey.

00:23:33 In stock market.

00:23:35 And Ramayana teaches us,

00:23:37 (speaking in foreign language)

00:23:41 - You know, what a fascinating chat this has been.

00:23:47 But before I wrap it up, KDRG,

00:23:50 we cannot let you go without hearing your voice.

00:23:54 What will you sing for us today?

00:23:55 - So I'm going to recite a short poem,

00:24:00 which luckily, Devendra Padnavis actually,

00:24:04 (speaking in foreign language)

00:24:07 Because I was with him day before yesterday,

00:24:10 only in Nagpur.

00:24:11 So that I'm going to recite for you.

00:24:13 (speaking in foreign language)

00:24:17 - Yeah, yeah.

00:24:18 All right, thank you so much.

00:24:20 You know, lessons of spirituality.

00:24:22 Of course, we are seeing, you know,

00:24:26 lessons for the markets from here.

00:24:28 It's going to be an interesting day to watch out for.

00:24:31 And I'm sure, you know,

00:24:32 we are going to be in the same boat.

00:24:34 And I'm sure, you know,

00:24:36 we are going to be in the same boat.

00:24:37 And I'm sure, you know,

00:24:38 we are going to be in the same boat.

00:24:39 And I'm sure, you know,

00:24:40 we are going to be in the same boat.

00:24:41 And I'm sure, you know,

00:24:42 we are going to be in the same boat.

00:24:42 And I'm sure, you know,

00:24:43 we are going to be in the same boat.

00:24:44 And I'm sure, you know,

00:24:45 we are going to be in the same boat.

00:24:46 And I'm sure, you know,

00:24:47 we are going to be in the same boat.

00:24:48 And I'm sure, you know,

00:24:49 we are going to be in the same boat.

00:24:50 And I'm sure, you know,

00:24:50 we are going to be in the same boat.

00:24:51 And I'm sure, you know,

00:24:52 we are going to be in the same boat.

00:24:53 And I'm sure, you know,

00:24:54 we are going to be in the same boat.

00:24:55 And I'm sure, you know,

00:24:56 we are going to be in the same boat.

00:24:56 And I'm sure, you know,

00:24:57 we are going to be in the same boat.

00:24:58 And I'm sure, you know,

00:24:59 we are going to be in the same boat.

00:25:00 And I'm sure, you know,

00:25:01 we are going to be in the same boat.

00:25:01 And I'm sure, you know,

00:25:02 we are going to be in the same boat.

00:25:04 - This has been a great conversation.

00:25:05 - Thank you, ma'am.

00:25:06 - Thank you so much for joining us.

00:25:07 - Thank you so much for joining us.

00:25:08 - We're going to take a very short break.

00:25:09 - Thank you, ma'am.

00:25:10 - We're going to take a very short break.

00:25:11 But it's not that our coverage is over.

00:25:12 But it's not that our coverage is over.

00:25:12 Far from that.

00:25:13 We're looking at every angle of this story.

00:25:14 We're looking at every angle of this story.

00:25:15 On the other side,

00:25:16 you will hear from Puneet Chatwal,

00:25:17 MD and CEO of IHCL,

00:25:18 MD and CEO of IHCL,

00:25:18 and their plans to open hotels in Ayodhya.

00:25:19 and their plans to open hotels in Ayodhya.

00:25:20 (upbeat music)

00:25:45 - The demand is very high.

00:25:46 The demand is very high.

00:25:47 And the hotel is very expensive.

00:25:48 And the hotel is very expensive.

00:25:49 And the hotel is very expensive.

00:25:50 And the stabilization,

00:25:51 And the stabilization,

00:25:52 in our opinion,

00:25:53 will happen only after the first

00:25:54 two to three weeks,

00:25:55 two to three weeks,

00:25:56 which is when availability

00:25:57 which is when availability

00:25:58 and the pricing might stabilize.

00:25:59 Though I suspect that as time increases,

00:26:00 Though I suspect that as time increases,

00:26:01 Though I suspect that as time increases,

00:26:02 this is even after the first two weeks,

00:26:03 this is even after the first two weeks,

00:26:03 the demand will be very high

00:26:04 the demand will be very high

00:26:05 because a lot of people

00:26:06 are very keen to go to Ayodhya.

00:26:07 are very keen to go to Ayodhya.

00:26:08 And there are properties

00:26:09 which are available in Faizabad,

00:26:10 which are available in Faizabad,

00:26:11 which are available in Faizabad,

00:26:30 the demand will continue to be very high.

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00:31:08 - Welcome back.

00:31:16 We're talking about what we're seeing in Ayodhya right now.

00:31:19 And of course, it's a big event

00:31:21 from the spiritual point of view,

00:31:22 but it's also a big event from the economy point of view.

00:31:25 We need to understand what has happened there

00:31:28 to this temple town in terms of huge investments

00:31:32 that are going to change the face of the local economy.

00:31:36 It is also something that can become a template

00:31:39 for tourism in India.

00:31:41 And I was referring to a Jeffrey's note

00:31:43 earlier this morning,

00:31:44 where spiritual tourism is still the biggest segment

00:31:47 in India.

00:31:48 The question is, how can this turn into an economic driver?

00:31:52 To speak more on this,

00:31:53 I'm joined now exclusively by Puneet Chatwal,

00:31:56 MD and CEO of IHCL and the Taj Group of Hotels.

00:31:59 Mr. Chatwal, very good morning.

00:32:01 Thank you so much for speaking with us today

00:32:04 on NDTV Profit as we explore every angle of this story.

00:32:09 Let's begin by understanding what your plans are in Ayodhya.

00:32:15 Good morning, Tamanna.

00:32:18 It's a great day today

00:32:19 because we just signed our third hotel in Ayodhya

00:32:23 under our IHCL selections.

00:32:26 We signed previously Vivanta and a Ginger.

00:32:31 So it's a hundred room Vivanta,

00:32:32 120 rooms Ginger and 150 rooms signed just now.

00:32:36 The one we have signed just now

00:32:38 is already into the third floor of construction.

00:32:41 So that would open the earliest

00:32:44 that we are hoping it will open by early 2025,

00:32:48 which means almost in a year from now.

00:32:50 And finally, we would come with our crown jewel,

00:32:55 the crown jewel of the nation, the Taj brand.

00:32:59 We are looking for a suitable site.

00:33:01 Ideally, we should try to do a Taj Palace branding.

00:33:06 So we are still in the process

00:33:09 of reviewing various opportunities.

00:33:12 Absolutely.

00:33:13 So you're looking at at least four properties

00:33:16 over a period of time.

00:33:17 Can you give us a sense of the timeline?

00:33:20 When will the first be open?

00:33:21 The first would open by March, April next year.

00:33:26 The other two is a combo hotel.

00:33:28 It's both a Vivanta and a Ginger together.

00:33:31 And that should open more towards

00:33:33 the end of next calendar year.

00:33:36 Yeah.

00:33:37 You know, right now we are seeing an astonishing

00:33:41 and perhaps it's because of the big event,

00:33:44 the Pran Pradesh and that might be the reason,

00:33:47 but we're seeing an astonishing skyrocketing

00:33:50 of hotel rates in Ayodhya right now.

00:33:53 And I was looking at some of the data, Mr. Chetwal,

00:33:56 rates have skyrocketed up to five to 10 times.

00:34:00 You have some rooms going as high as 70,000 rupees a night.

00:34:05 The average is between 15 to 20,000.

00:34:08 I think there's some even which are one lakh rupees a night.

00:34:13 Is that going to be the kind of pricing you're seeing

00:34:16 for your properties?

00:34:17 Because a lot of people watching are perhaps wondering

00:34:20 what is going to cost them when they plan their visit.

00:34:23 You know, Tamanna, ultimately everything levels off.

00:34:28 So currently the demand is far higher

00:34:32 than the hotel supply is.

00:34:34 But at some point as more and more hotels get built,

00:34:36 the more hotels are open and in operation,

00:34:40 the rates would obviously come down.

00:34:44 They're not going to stay 70,000, one lakh, two lakhs

00:34:47 in this kind of destination.

00:34:50 So having said that, if you looked at all

00:34:54 the spiritual destinations in India,

00:34:56 all are doing quite well and the ability to charge

00:35:01 has always been even historically very strong.

00:35:04 You know, for example, we are present for several decades

00:35:08 in the city of Banaras and we are adding 100 more rooms

00:35:12 to Taj Ganges.

00:35:13 We added a few rooms in Taj Nadesar Palace.

00:35:16 We have decided to do some luxury tented accommodation

00:35:20 in that palace area because the demand in these destinations

00:35:25 is just increasing by leaps and bounds on a daily basis.

00:35:30 - So give us a sense of that.

00:35:32 I was talking about spiritual tourism being a big driver

00:35:36 in India.

00:35:39 How do you cater to that?

00:35:42 What is the kind of potential and numbers

00:35:44 that you're projecting in terms of tourists

00:35:46 interested in this leg?

00:35:49 Because along with spiritual tourism,

00:35:51 even though the demand is high,

00:35:53 there are always complaints or questions

00:35:56 about the extent of infrastructure that's available.

00:35:59 People want to go, but connectivity, you know,

00:36:03 ease of travel, the kind of accommodation available

00:36:06 does become an issue.

00:36:08 What is the potential you see here, Mr. Jatwal?

00:36:10 - Well, it depends which destinations we talk about.

00:36:15 The relatively new destinations will obviously take

00:36:18 three to five years till the infrastructure from road,

00:36:23 train, airports, hotels, you know,

00:36:27 sarais, kutis, et cetera,

00:36:31 kind of levels down and settles down.

00:36:34 But if you look at a lot of mature destinations,

00:36:38 as I mentioned before, Banaras, it is doing fine.

00:36:42 The infrastructure is very good,

00:36:44 has significantly improved.

00:36:45 I was there 10 days ago, or almost two weeks ago,

00:36:49 and I was myself surprised at how everything

00:36:52 was working so well out there

00:36:54 versus when I was last there.

00:36:56 Similarly, if you go to Tirupati, if you go to Qatar,

00:36:59 if you go to many other destinations that we service,

00:37:03 we are in 66 such properties that we have

00:37:08 in almost 50 destinations in India.

00:37:12 And I think we cover it to the best possible extent

00:37:15 versus any other brands of our sector.

00:37:20 So we have quite a significant experience

00:37:24 in all such destinations.

00:37:26 And up till now, with the exception of COVID-19,

00:37:30 when there was a lockdown,

00:37:31 all these destinations tend to do extremely well.

00:37:35 So spiritual tourism is doing extremely well,

00:37:39 but let's move just beyond that.

00:37:41 There is a conversation now about how tourism

00:37:45 can be the next big driver for India's GDP.

00:37:49 So just for context, the contribution

00:37:52 or the proportionate share of our GDP for tourism

00:37:55 as a whole is about 6%.

00:37:57 We are definitely lower than other countries of this size.

00:38:02 The potential in the headroom is there.

00:38:06 But that is a long story,

00:38:07 which has been going on, Mr. Chharpal.

00:38:09 Do you think that there is a change there in the speed

00:38:12 of how big a role tourism will play?

00:38:15 Actually, we need to get some of the latest statistics.

00:38:21 I think in the last 18 months,

00:38:23 there has been a very strong boom,

00:38:26 especially in the hospitality sector.

00:38:28 The contribution levels have increased significantly,

00:38:33 both towards the GDP as well as towards the employment.

00:38:37 The challenge is some of the parts of the tourism sector

00:38:41 are still very unorganized.

00:38:43 So that data that you were talking about,

00:38:45 about 6% actually needs an upward correction

00:38:49 and the ability of creating jobs in multiple ways,

00:38:54 direct jobs and indirect jobs

00:38:57 through this sector is the highest.

00:38:59 And ideally, we should aim for 10%.

00:39:01 I recently saw a presentation from one of the economists

00:39:04 and the highest private CAPEX that is going in India today

00:39:09 is actually in the hotel sector.

00:39:11 So hotel sector is leading by far in terms of private CAPEX.

00:39:16 I think what you had was very interesting conversation

00:39:19 earlier when Nilesh Bhai was talking.

00:39:23 I think the key differentiator that India can build upon

00:39:27 from underdeveloped to developed to a thriving nation

00:39:31 is in the character of the country

00:39:33 and the character differentiator, as he said,

00:39:37 and I would like to kind of repeat

00:39:39 and actually support that, is spirituality.

00:39:43 I'm not talking about religion,

00:39:45 but spirituality can be a key differentiator

00:39:48 as the world moves on towards the next 50, next 100 years.

00:39:53 This factor, your spirituality quotient

00:39:56 is going to play a more important role

00:39:59 in your business lives, in your personal lives,

00:40:02 and in anything and everything that you might want to do.

00:40:05 You know, having said that, you talked about,

00:40:10 and I thought this was very important, Mr. Chetpal,

00:40:11 you talked about the kind of jobs

00:40:15 that will be generated from this.

00:40:18 So let me just take the example of Ayodhya.

00:40:20 If you're looking at three,

00:40:21 you've inked your third hotel now,

00:40:23 and you're looking at the Taj Palace also coming there,

00:40:26 so you're looking at at least four properties

00:40:28 over the next few years.

00:40:30 How would an IHCL go about staffing these?

00:40:34 I'm trying to understand end-to-end

00:40:36 what kind of job opportunities something like this creates.

00:40:41 See, all these four hotels combined

00:40:43 would offer anything between 500 to 750 rooms

00:40:47 in five years from now.

00:40:48 The 500 to 750 rooms, this kind of properties,

00:40:53 would mean you have almost 1,500 to 2,500 direct jobs,

00:40:58 depending on the nature of the Taj that we will build.

00:41:03 So those jobs will create another 8,000 to 10,000

00:41:07 indirect jobs, why?

00:41:08 Because you need somebody to supply milk,

00:41:11 somebody to supply soft drink,

00:41:13 somebody to supply the food,

00:41:16 and all these, the guides out there,

00:41:19 the guides who will walk you through the city of Ayodhya

00:41:22 to get that historic experience.

00:41:25 So there is also the rickshaw-wala and the transport.

00:41:29 All that gets very positively impacted,

00:41:33 and it helps to build a destination.

00:41:35 If you look at the entire world,

00:41:37 some of the spiritual destinations

00:41:39 are the most important destinations across the globe.

00:41:43 And I see no reason why India, with Ayodhya

00:41:48 and many others that are existing,

00:41:49 and the new ones that will come,

00:41:51 should not be at the forefront of this

00:41:55 in terms of contribution to GDP,

00:41:57 in terms of contribution to jobs,

00:41:59 in terms of building and positioning

00:42:02 the tourism sector in the country.

00:42:05 The question is about equitable availability

00:42:10 of such facilities.

00:42:14 And I know I'm speaking to Puneet Chetwal of IHCL today,

00:42:18 best known for luxury and quality properties.

00:42:22 But if you put on your hat as someone

00:42:25 who knows this space very, very closely,

00:42:28 I was looking at some of the fares, the airfares,

00:42:31 and the average airfare out of Mumbai

00:42:33 is at least 12,000 rupees.

00:42:35 And maybe you're right, that's right now,

00:42:38 but going forward, when you talk about spiritual tourism,

00:42:42 it's also about accessibility to all.

00:42:44 Do you see the average quality of connectivity,

00:42:49 of facilities to stay improving, Mr. Chetwal?

00:42:53 Because that's important as well, isn't it?

00:42:55 Absolutely, it's a given.

00:42:57 And I just sometimes try to avoid discussions on pricing.

00:43:02 And we are so blessed to have become

00:43:06 the fifth largest economy,

00:43:08 with the likelihood of becoming third largest.

00:43:11 And the aspiration is 7 trillion in seven years,

00:43:14 or it was seven years last year, so it's by 2030.

00:43:18 You cannot become a 7 trillion economy

00:43:21 and not have increase in per capita income,

00:43:24 increase in GDP, increase in discretionary spend.

00:43:27 So obviously, travel and hospitality is a direct,

00:43:32 and an indirect beneficiary of the investment

00:43:35 in the infrastructure, of the growth in the country,

00:43:38 of the desire and wants and needs of people

00:43:42 to want to travel, which comes

00:43:44 when you become a developed nation,

00:43:46 and when you start going up,

00:43:48 the sector itself moves from being just luxury,

00:43:52 or just, you know, like once in a while,

00:43:57 to almost a habit to go to restaurants,

00:44:01 or a habit to travel, to take long weekends,

00:44:03 to go for spiritual reasons, or health reasons,

00:44:06 or medical tourism.

00:44:08 I mean, the opportunities are immense,

00:44:11 but if you did not have the means,

00:44:13 then it was difficult.

00:44:14 Today, we should be very happy,

00:44:17 it's not about the 12,000 rupees for the ticket.

00:44:19 The important thing is that the airport got built,

00:44:22 and that you have direct access,

00:44:25 both from Delhi and Mumbai to, you know,

00:44:27 the national capital and the commercial capital,

00:44:31 to Ayodhya, and I think that is very important.

00:44:34 You know, one last point over here, Mr. Chetwal.

00:44:40 We are looking at numbers

00:44:42 in terms of consumer demand coming in,

00:44:44 and a lot of it, and a lot of detailing is coming in

00:44:47 from the first crop of results that we have seen,

00:44:50 corporate results that we have seen.

00:44:52 We know we'll have more details about yours in a few days,

00:44:55 and you're in a silent period on the numbers,

00:44:57 I won't come to you on that.

00:44:58 The sense I'm trying to get is that more and more,

00:45:03 there is also a concern about demand

00:45:06 at bottom of the pyramid.

00:45:09 Yes, luxury demand has been good,

00:45:11 discretionary and maybe parts of urban demand have been good,

00:45:15 but it's not been even, the growth has not been even.

00:45:19 Does that concern you at all

00:45:20 when you look at the sector as a whole,

00:45:23 about whether the demand that we're seeing

00:45:25 currently is sustainable?

00:45:27 On the contrary, I think this is just the beginning.

00:45:29 As you said, at the beginning of the pyramid,

00:45:33 I think there is a lot of room upwards,

00:45:37 mainly because of the GDP growth in the country.

00:45:42 That's number one.

00:45:43 Number two is the development of infrastructure.

00:45:45 I always give this example,

00:45:47 and even if I'm repeating myself,

00:45:49 you know, take Bharat Mandapam as an example,

00:45:52 in Delhi, in Pragati Maidan.

00:45:54 Or the Dwarka Convention Center.

00:45:58 Now, they never existed before, or Jio in Mumbai.

00:46:01 If a big event is happening in Jio in Mumbai,

00:46:04 anything around five kilometer radius gets sold out.

00:46:07 But before that, space never existed.

00:46:10 So if you have three, four big events in a year,

00:46:13 you know, we have G20 behind us.

00:46:16 But if there are more such events coming,

00:46:19 and they will come,

00:46:20 you get thousands of delegates

00:46:22 traveling from outside of the country,

00:46:25 coming into the country,

00:46:26 and some of them will add a few more days

00:46:29 to explore India,

00:46:31 that will create significant increase in demand.

00:46:34 So that is the second.

00:46:35 The first being, as I said, the GDP growth.

00:46:39 The second is the infrastructure.

00:46:41 And the third is obviously the increase

00:46:44 in your disposable income, employment,

00:46:47 people moving from, you know,

00:46:50 one class to the other,

00:46:51 middle to high middle, high middle to, you know,

00:46:54 richer and richer people.

00:46:55 So I think there is a lot happening,

00:46:58 which is going to support this sector

00:47:00 for many, many years to come.

00:47:02 And the supply will need to catch up,

00:47:05 because during COVID, not much got built.

00:47:08 What we are seeing is the completion of projects

00:47:11 that were not completed because of COVID.

00:47:14 So it takes time to build the supply,

00:47:17 but the demand is unstoppable.

00:47:19 It'll keep increasing.

00:47:20 - Absolutely.

00:47:22 Demand is unstoppable.

00:47:24 I think at least right now in the hotel industry,

00:47:26 if I'm not mistaken, you have,

00:47:27 supply is shorter than demand.

00:47:31 You have to build more and faster.

00:47:33 Four properties in Ayodhya in the next five years.

00:47:36 That's the target that Mr. Puneet Chetwal

00:47:38 has spoken about.

00:47:39 Thank you so much for joining us, Mr. Chetwal.

00:47:41 It's been great talking to you

00:47:43 and getting some perspective

00:47:44 on the role that spiritual tourism is going to play.

00:47:47 And when you talk about tourism,

00:47:49 there are many aspects to it.

00:47:51 Of course, hotels is one,

00:47:53 but flights is another important one.

00:47:55 And my colleague, Maria Shaquille of NDTV

00:47:57 spoke earlier with SpiceJet's Ajay Singh

00:48:00 to understand the kind of connectivity

00:48:02 the airline would see in Ayodhya.

00:48:04 - Who doesn't know Mr. Ajay Singh?

00:48:08 He needs no introduction,

00:48:09 but he is here at a rather interesting time.

00:48:12 It's Ayodhya and Ram Ki Pairi right here

00:48:15 in front of this big image of Lord Hanuman.

00:48:20 Mr. Ajay Singh, welcome to Ayodhya.

00:48:22 But before that, have you traveled to Ayodhya in the past?

00:48:26 And what has changed in Ayodhya in recent times?

00:48:29 - You know, I've never come here,

00:48:30 but from what I hear from people here,

00:48:33 there's been just an incredible change

00:48:35 over this last couple of years.

00:48:37 Incredible development and incredible, you know,

00:48:40 feeling of hope and optimism.

00:48:42 And I think that what you see today

00:48:45 will be vastly different from what you'll see

00:48:47 in a year or two.

00:48:48 There's going to be just massive development.

00:48:49 I don't think Ayodhya will really realize what's hit it

00:48:53 because after tomorrow,

00:48:55 there's going to be this massive influx of tourists

00:48:58 into this city and it will change beyond recognition.

00:49:01 There's no doubt about it.

00:49:03 (speaking in foreign language)

00:49:07 (speaking in foreign language)

00:49:10 - This is a moment of great pride for all Indians, really.

00:49:21 Because, you know, this temple is a symbol of great pride

00:49:26 and also, I think, symbolic of what Indian civilization

00:49:34 really stands for.

00:49:36 The fact that there is an aspiration for Ram Rajya

00:49:41 and Ram Rajya really stands for a just society,

00:49:44 an equitable society and a prosperous society.

00:49:47 Prosperity for all.

00:49:49 So, this is what we--

00:49:51 - As a businessman, you know, because I need to ask that,

00:49:55 what are you seeing as potential areas in Ayodhya?

00:49:59 - No, I think the economy of this city

00:50:03 is going to increase by many, many fold.

00:50:07 And tourism, this is going to be the hub of tourism

00:50:12 in times to come.

00:50:13 In terms of the hotel industry,

00:50:15 in terms of anything connected with tourism.

00:50:17 - And aviation sector.

00:50:18 - And the aviation sector.

00:50:19 - That is your domain.

00:50:20 - That is our domain.

00:50:21 And we need to provide connectivity

00:50:23 from all corners to Ayodhya.

00:50:25 And that's exactly what we are attempting to do.

00:50:28 - So, SpiceJet is going to have eight flights

00:50:31 going into Ayodhya from the 1st of Feb

00:50:34 as per what they've released.

00:50:36 And of course, all other players are also coming in.

00:50:39 So, that should perhaps ease up the fares in a bit.

00:50:43 And as things settle, maybe there should be

00:50:47 a better sort of fares to go by.

00:50:49 But, you know, this is an aspect of tourism

00:50:52 that we're seeing all around.

00:50:54 And a new paradigm in that sense of religious tourism

00:50:56 is getting set.

00:50:57 That's the word coming in from Dhruv Shringhi

00:50:59 of Yatra Online, who we spoke to listening.

00:51:02 - There is a very strong demand for Ayodhya in particular.

00:51:09 And I think what has also happened is Ayodhya

00:51:11 has maybe brought the entire religious travel

00:51:15 and pilgrimage travel in the country

00:51:17 into the mainstream right now.

00:51:19 Because not only is Ayodhya seeing a significant bump,

00:51:23 we are seeing all other major religious destinations also

00:51:27 seeing a very meaningful jump at this point

00:51:30 as compared to the previous year.

00:51:32 And I'm talking about, you know,

00:51:34 the lowest I'm seeing is about a 35% jump in demand.

00:51:38 And the highest I'm seeing is almost 120% jump in demand.

00:51:42 So, it's pretty much across all religious destinations

00:51:45 right now that we are seeing a meaningful improvement

00:51:48 and lift in terms of demand.

00:51:49 - All right, time for a very short break,

00:51:52 but we're not done with our special coverage by far.

00:51:55 So far, we've talked about lessons for market investors.

00:51:59 We've talked about tourism opportunity.

00:52:01 Next, after the break, we're going to be talking

00:52:03 about real estate.

00:52:04 Real estate prices in Ayodhya and around have skyrocketed.

00:52:08 What is the potential here?

00:52:10 What is the availability of real estate land parcels?

00:52:13 We're talking about all of that after this very short break.

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00:56:55 - Welcome back.

00:57:07 We've been talking about the kind of economic boom

00:57:11 we're expected to see in Ayodhya

00:57:13 and whether this can become a template

00:57:15 for what spiritual tourism can contribute to the GDP.

00:57:19 So far, we've talked about the tourism angle,

00:57:22 of course, lessons for investors from the Ramayana,

00:57:24 but now we're talking about what's happening

00:57:26 with real estate.

00:57:28 I'm joined now by Anuj Puri,

00:57:29 Chairman and Founder of Anirock.

00:57:31 Anuj, great to have you on NDTV Profit

00:57:33 and superb to speak to you today.

00:57:35 Give us a sense of what the potential is in Ayodhya

00:57:40 and the kind of increase we have seen in prices

00:57:43 over the last few years.

00:57:44 - First of all, thank you for having me on the show.

00:57:48 What a great day, what a proud day,

00:57:51 what a positive day.

00:57:53 And given what's going to happen later today,

00:57:57 I can tell you is that this is going to spread

00:57:59 a huge amount of positivity across India

00:58:02 and certainly for the real estate sector in Ayodhya.

00:58:06 A number of things, Tamanna,

00:58:08 one, the amount of infrastructure spent that has been done,

00:58:12 I was just comparing it with other global cities

00:58:15 and any city which has had that kind of infrastructure

00:58:20 spent over $6 billion, new airport, new train station,

00:58:24 new roads that are being built,

00:58:26 does have a increase in the property prices.

00:58:29 Not only that, a new city usually takes a very long time

00:58:32 to get economic activity.

00:58:34 And here through your show,

00:58:36 we've been talking about religious tourism.

00:58:38 So there is already economic activity.

00:58:41 And where we are finding three or four things

00:58:44 on the real estate,

00:58:45 one, property prices jumped from 2019 to 2023,

00:58:49 used to be about 2000 rupees a square foot in Ayodhya,

00:58:52 already at four and a half thousand rupees a square foot.

00:58:56 We think is that there is still a lot of potential

00:58:58 from here going onwards.

00:59:01 We think is about 50 to 75% growth,

00:59:04 you will continue to see in the property prices.

00:59:08 And it's not only just, you know,

00:59:10 blocks that are getting sold.

00:59:12 We heard Puneet Chatwal on your show

00:59:14 was speaking about the hospitality,

00:59:16 but where the excitement is coming in from the retailers.

00:59:20 And there's a huge amount of retailers,

00:59:22 both listed and unlisted,

00:59:23 who are wanting to open stores in their F&B,

00:59:27 entertainment, all these guys want to go into Ayodhya.

00:59:31 I think the biggest problem, Tamanna,

00:59:34 is that we do not have land in Ayodhya,

00:59:37 which is assembled,

00:59:38 which is easy for a developer to buy.

00:59:40 I mean, today we have insane amount of demand

00:59:42 coming in all across from Indian developers

00:59:45 to buy land in Ayodhya to do retail development,

00:59:49 hotel, plotted developments, residential apartments,

00:59:53 but very, very, very difficult to be able to acquire

00:59:57 consolidated large piece of land in Ayodhya.

01:00:01 Just to understand, Anuj,

01:00:04 this is largely commercial real estate demand

01:00:07 that you're seeing in Ayodhya,

01:00:09 or is it residential as well?

01:00:11 Are there enough players coming in to acquire

01:00:14 and build out these properties?

01:00:17 So, Tamanna, it's largely residential.

01:00:19 On the commercial, it's only on the retail,

01:00:22 retail and hospitality,

01:00:23 but not on the offices as yet.

01:00:27 On the retail, it's largely F&B and fashion,

01:00:31 which is wanting to open up retail stores.

01:00:34 On the residential, majority of the demand is plotted.

01:00:38 And, you know, this demand is coming in

01:00:40 not only from people living in India,

01:00:42 but a lot of the NRIs who are wanting to buy plot

01:00:46 in Ayodhya at this stage.

01:00:49 A number of developers across India

01:00:50 are wanting to do development in Ayodhya.

01:00:53 But as I say, it's very difficult to find

01:00:56 large consolidated land parcel in Ayodhya

01:00:59 to do development.

01:01:00 I want to understand, Anuj,

01:01:02 what this means for residents of Ayodhya.

01:01:04 You know, we have been looking at this entire story

01:01:06 from the point of view of visitors.

01:01:09 Tourists, spiritual visitors, business,

01:01:12 people who want to go and set up establishments.

01:01:15 What about the residents there?

01:01:17 Is this a great opportunity for them?

01:01:19 Is it an infringement for them?

01:01:22 Is there a smooth process in place

01:01:25 for people who have been living here for generations?

01:01:29 So, Samana, look at any other Indian city

01:01:31 which has developed.

01:01:32 You know, look at Bangalore.

01:01:33 It used to be a sleepy town in the mid to late 90s.

01:01:37 And today you look at the amount of commercial activity

01:01:39 and the upgradation that has happened

01:01:41 for the people who are living in Bangalore.

01:01:43 You know, likewise in Ahmedabad,

01:01:45 you know, for a very long time,

01:01:46 you know, there was very little economic activity.

01:01:48 And today you look at it,

01:01:50 it has increased the quality of the life

01:01:52 of people who are living in there.

01:01:54 Similarly in Ayodhya,

01:01:56 two or three things will happen is,

01:01:57 you know, because there is economic activity

01:01:59 that is coming, their income levels will go up.

01:02:03 But on specific on the real estate,

01:02:05 there weren't any quality developers.

01:02:07 There were largely illegal constructions

01:02:09 that were going on, very poor accommodation

01:02:12 that was being provided,

01:02:14 no experience on retail or hospitality.

01:02:17 And today with large developers

01:02:20 wanting to now enter Ayodhya,

01:02:22 you're going to see good quality buildings,

01:02:24 which are going to be safer, better amenities,

01:02:27 you know, better infrastructure within those buildings,

01:02:29 retail, which will be like a retail mall culture

01:02:33 rather than just mom and pop,

01:02:35 you know, small little store

01:02:36 without any car parking facility being provided.

01:02:39 So you will, you know, the people living in Ayodhya

01:02:44 will get a better experience and exposure

01:02:46 of like a metro city.

01:02:49 And, you know, they were like a distant

01:02:50 number three, number four, tier three, tier four town.

01:02:54 And suddenly they're going to become tier two

01:02:56 or maybe tier one and a half.

01:02:58 So you see Ayodhya going to tier one and a half

01:03:02 or tier two, Anuj, in how many years?

01:03:05 And what are the other pockets

01:03:08 which are going to get boosted by spiritual tourism?

01:03:11 Do you see these places as investment opportunities

01:03:14 for second homes or, you know,

01:03:17 are these largely going to be beneficial

01:03:20 for people who have already been residing there?

01:03:23 So the one I feel is that it is for both.

01:03:25 It is as second homes, as I said, is, you know,

01:03:28 the demand that has come in for plotted development

01:03:31 from NRIs is unprecedented.

01:03:34 We're not seeing that kind of demand,

01:03:36 you know, coming to buy plots.

01:03:38 And clearly it is for second home for those people.

01:03:41 For the people who are living in there, you know,

01:03:44 the experience that they are going to be able to get

01:03:46 of quality development within residential,

01:03:49 gated communities, within retail,

01:03:52 within hospitality will really uplift it.

01:03:55 I do feel as if this gets replicated maybe in Mathura

01:03:59 as a next, you will see is a similar kind of boost

01:04:03 coming up there.

01:04:05 You know, the biggest thing is, Tamanna,

01:04:06 there are many, many, many cities globally

01:04:09 who were set up with that kind of infrastructure,

01:04:11 that kind of investment,

01:04:12 but it took a very long time for them

01:04:14 to get economic activity going.

01:04:16 Here, fortunately, we have a fulcrum of economic activity.

01:04:20 So the moment we put in the infrastructure,

01:04:23 you're seeing, you know, thousands and lakhs of people

01:04:26 already thronging in there.

01:04:28 So it is, you know, an example that comes to my mind,

01:04:32 Tamanna, is Milton Keynes,

01:04:34 just on the periphery of London,

01:04:36 took a very long time after the infrastructure

01:04:39 had been put in place to get an economic activity.

01:04:42 The fortunate part of these religious places is

01:04:44 that the moment the infrastructure is put,

01:04:46 you know, the religious devotees are immediately

01:04:49 wanting to come in and invest in that city.

01:04:53 - So for religious devotees, I'm wondering, you know,

01:04:56 people watching this, if they're thinking about

01:04:57 a second home in Ayodhya, why would they want to do it?

01:05:00 Is there, you know, a return angle over there?

01:05:04 You see Airbnbs thriving,

01:05:07 and what could be the kind of returns?

01:05:10 - So both, Tamanna, it will be on the rental side

01:05:13 that you will get the return,

01:05:15 clearly on the residential.

01:05:17 On the commercial side, you'll be able to lease it out

01:05:19 to larger brands, national brands,

01:05:21 who are going to take that space from you.

01:05:24 But my thinking is that this is largely

01:05:26 as a capital appreciation.

01:05:28 If you are an investor that you're looking at

01:05:30 rather than a rental return.

01:05:32 But many, many, many people are going to say,

01:05:34 "Look, you know, this is our second home.

01:05:36 "We're buying it for, you know, the devotion that we have,

01:05:40 "not necessarily from an investment perspective."

01:05:45 - Absolutely.

01:05:46 So just last point, Anuj, we've talked about Ayodhya.

01:05:50 If I were to ask you the top two or three locations

01:05:54 where you see this spiritual tourism,

01:05:57 or this new trend showing a boom in real estate prices,

01:06:01 what would be there?

01:06:02 What's on your map right now?

01:06:05 - So Tamanna, I'm very fond of UP,

01:06:07 the way they have put in the infrastructure.

01:06:09 You know, two weeks ago, I was in Benares.

01:06:11 I can tell you, is that place is absolutely thronging

01:06:14 with vibrancy, and you're going to see more and more

01:06:18 real estate development and capital appreciation

01:06:20 happening in there.

01:06:22 If, you know, Mathura comes up next on the radar,

01:06:26 then, you know, that's a place

01:06:28 that one should really keep an eye on.

01:06:30 And you may see what we have seen in Ayodhya,

01:06:33 prices already doubled over the last three or four years,

01:06:36 and we'll continue the same pace of capital appreciation.

01:06:39 Then maybe the time, if Mathura is the next destination

01:06:42 that is picked up for putting in the infrastructure,

01:06:46 then that will be a good point to enter.

01:06:49 One other thing I'll say is, Tamanna, the, you know,

01:06:53 between Lucknow and Ayodhya, it's about 90 kilometers.

01:06:58 I would say that belt,

01:06:59 you will see a fair amount of investment happening

01:07:02 because Lucknow already is a big destination

01:07:05 from an economic perspective,

01:07:06 and these will become like a twin city

01:07:09 and would be a good idea to invest

01:07:11 between Ayodhya and Lucknow.

01:07:13 - Yeah, okay.

01:07:14 So the Lucknow-Ayodhya belt is one that, you know,

01:07:18 Anuj Puri has identified for us.

01:07:20 Thank you so much, Anuj.

01:07:22 Great speaking with you today

01:07:23 and getting a perspective on the real estate

01:07:26 development potential in these areas as well.

01:07:30 - Thank you.

01:07:31 - Our coverage continues right here on NDTV Profit.

01:07:35 Next, we're speaking with Mr. Anshu Malik.

01:07:37 He's MD and CEO of Adani Wilmar,

01:07:39 and we're trying to understand a lot of the on-ground

01:07:42 activities that are happening here.

01:07:44 You know, every sector sort of thrives

01:07:46 when you have a new ecosystem developing.

01:07:48 So, Mr. Malik, welcome to the show.

01:07:50 Thank you so much for speaking with us on NDTV Profit

01:07:53 on this special program where we're trying to understand

01:07:56 the economic boom which will come in from Ayodhya rising.

01:08:01 So let's begin with your take on that

01:08:03 and all of the activities that your company

01:08:05 is doing on ground.

01:08:08 - UP has been a very important market for Adani Wilmar,

01:08:11 right, since inception.

01:08:13 We will be celebrating 25 years of the launch

01:08:16 of the brand next year.

01:08:18 So looking at that, for the last 25 years,

01:08:20 we are working in UP and possibly we have more

01:08:23 than 50% market share in refined oils.

01:08:26 Now, it's a household brand and more than one out

01:08:30 of every three consumers are buying the product.

01:08:33 So we are very close with the consumers of Uttar Pradesh

01:08:39 and more so where each of the big towns,

01:08:42 including the rural markets, we have been working

01:08:44 consistently for over a long period of time.

01:08:46 Now, Ayodhya is a very important place for us

01:08:50 because Ayodhya, Kashi, Mathura, and Prayagraj,

01:08:54 all these four places, we have been working

01:08:56 for the different sectors like the food,

01:09:01 Horeca segment, which is the catering and other things,

01:09:04 and then the retail segment and then consumer activations.

01:09:08 Now, looking at Ayodhya, last one month,

01:09:10 we have jacked up our distribution, one,

01:09:13 because the town did not have a very strong distribution

01:09:17 in the sense that only three and a half lakh population original.

01:09:20 So we ramped up with an additional distributor

01:09:23 because two will require.

01:09:25 Then we have ramped up the Horeca because a lot of hotels,

01:09:28 restaurants, dhabas will now be coming up.

01:09:30 And on the way, not only in Ayodhya,

01:09:33 but at least 30-40 kilometers in and around Ayodhya,

01:09:36 we are working on ramping up the supply chain at the dhabas.

01:09:40 So distribution was the key first

01:09:43 because availability of stocks and easy supply chain

01:09:47 is one very important.

01:09:49 We have three, four depots supplying to Ayodhya.

01:09:51 One can be from Prayagraj, one is from Lucknow,

01:09:54 one is from Faizabad.

01:09:56 So we have three depots which can supply.

01:09:58 So there is no problem of supply chain.

01:10:00 And we deal in essential commodities like rice,

01:10:04 wheat flour, maida, suji, dal, besan, oil, sugar.

01:10:09 So we are putting everything together.

01:10:11 That is one.

01:10:12 Two is that because today's event is such a big event,

01:10:19 so over the last 15-20 days,

01:10:21 we have ramped up the brand building activities.

01:10:23 And as you enter Ayodhya from anywhere,

01:10:26 whether from Varanasi or Lucknow or any other place,

01:10:29 all the roads have been decorated with our banners

01:10:32 at the dhabas.

01:10:33 And along with the entry gates,

01:10:36 we have done with Dainik Jagran as our partner

01:10:41 because they can do a better job.

01:10:44 So we both together are working on all these activities.

01:10:48 But the main event for us is interaction with the consumers.

01:10:53 And that is where we have done a lot of activities.

01:10:56 I will just tell you one by one.

01:10:59 One is that you have seen the fortune bloom,

01:11:02 that round bloom that we have made.

01:11:06 So we have made jalebi as per the bloom.

01:11:08 So we have designed the jalebi as per the bloom.

01:11:11 And like this, more than 25,000 pieces

01:11:14 will be put up in three places.

01:11:17 And we will make hot-serving jalebis of this bloom size.

01:11:21 And we'll be giving it to the visitors there.

01:11:25 Not necessarily that one can have only one,

01:11:28 but it is two, three people will require to finish one.

01:11:31 That is what we have made.

01:11:33 The sizes are big.

01:11:35 After that, we have made a bhog because obviously,

01:11:38 khichdi will be the most important thing there.

01:11:41 And along with that, some vegetables.

01:11:43 And then we have made puri and sabji and all that

01:11:45 because with our products, we can make all these things.

01:11:48 So we have gone for it.

01:11:49 So this will be at least 5,000 people today event,

01:11:53 which we have given it to a caterer to manage it.

01:11:56 And then we have pakora stalls, 10 places,

01:12:00 because we know people will come and move.

01:12:03 So we have made pakoras and different pakoras

01:12:06 with our besan and oil, frying oil and all that.

01:12:09 So there is a lot of activities that will happen today.

01:12:13 And then we will continue this for at least 10, 15 days

01:12:17 so that all the people who cannot come today

01:12:20 but will come in the next couple of weeks,

01:12:24 we would like to be with them.

01:12:26 So Mr. Malik, all of this is FOC,

01:12:29 free of cost for the devotees.

01:12:31 And it's sounding quite mouth-watering.

01:12:34 Pakoras, jalebis, bhog and all of that.

01:12:38 You see, pakoras also, we have said for cauliflower pakora,

01:12:41 then we have said aloo pakora,

01:12:43 we have said brinjal pakora, everything.

01:12:45 And, you know, the mood is so good that in this mood,

01:12:50 food and festival go together.

01:12:54 Food and such occasions goes together.

01:12:57 So good food is always required.

01:12:59 And we are kitchen essentials.

01:13:01 So each and every product has a role to play today.

01:13:04 So whether it is maida, samosa, or it is atta, poori,

01:13:08 or it is rice, khichdi and dal khichdi.

01:13:12 So all this will go with fortune banner.

01:13:15 Okay, my stomach is rumbling a bit

01:13:16 listening to all of that food,

01:13:18 but let me ask you the serious questions,

01:13:21 which is, you know, we've been talking about

01:13:23 the economic impact of what we are seeing in Ayodhya today.

01:13:27 And I want to understand from you,

01:13:29 especially when you have a tier one city move to a tier two.

01:13:34 What is the kind of increase you see in demand

01:13:38 from a staples point of view?

01:13:41 See, I'll give you an example of Kashi.

01:13:44 You have seen how Kashi has transformed

01:13:46 in the last two, three years.

01:13:50 Last one month in Kashi,

01:13:52 there has been so much of rush

01:13:54 because the Ayodhya thing coming up.

01:13:56 So people visiting Kashi first.

01:13:58 And in Kashi, I can tell you our sales are up by more than 30%.

01:14:03 In the last one month, that is because principally

01:14:07 the dhabas, hotels, restaurants,

01:14:09 they are picking up our basmati rice, small local rice.

01:14:13 And then we have the oil demand coming up.

01:14:18 So Kashi is an example where we have seen floating population,

01:14:24 at least three to five lakh people there every day coming and going.

01:14:29 So Kashi's population has increased by almost five lakhs.

01:14:32 Similarly, Ayodhya is three and a half only,

01:14:34 but we will see seven lakh people moving here.

01:14:37 So that means whatever is my sale should double actually.

01:14:40 And that we are finding that these are essential products.

01:14:43 You know, most important is supply chain.

01:14:46 If you are available, people pick up.

01:14:48 The brand is known, but it should be available.

01:14:51 So we are working more on the supply chain

01:14:53 so that there is no stock out.

01:14:55 And we have more number of restitutors

01:14:57 and more number of depots or the stock points,

01:14:59 fulfillment centers to ensure that there is no problem

01:15:02 because traffic can there be a problem of the road.

01:15:05 Say in Allahabad, many times the roads are closed for any such occasions.

01:15:09 So we need alternate arrangement to dispatch.

01:15:13 Mr. Malik, just a broader question over here.

01:15:16 And we've been seeing this with consumer staples

01:15:18 as we go into results season, the focus also on FMCG companies.

01:15:23 And I just want to get a sense from you on what you're seeing in demand.

01:15:28 The initial commentary coming in is showing some troubles of pocket,

01:15:33 some pockets of trouble, especially in rural areas,

01:15:36 you know, bottom of the pyramid in terms of demand for staples.

01:15:41 Are you seeing signs of that?

01:15:43 Anything that you can share, any insight you can share on this?

01:15:46 See, to some extent, we have seen a small impact.

01:15:50 I can tell you our sales from rural edible oil is around 30%

01:15:54 and 70% comes from the urban areas.

01:15:56 This 30% has become 29% in the last six months,

01:16:01 indicating that there is some pressure in the rural market,

01:16:04 but not great significance.

01:16:06 We have seen some pockets can be a little slow,

01:16:09 but otherwise by and large, rural has supported us

01:16:12 because we are in essentials.

01:16:13 And you will agree that every individual,

01:16:17 whether in the rural or in the urban,

01:16:19 requires staples, whether in loose or in packed form.

01:16:23 But packed staples are increasing consumption.

01:16:26 We have seen Atta doing very well in rural markets.

01:16:31 We have seen even Basmati rice doing well.

01:16:33 People won't imagine, but branded sugar, we sell 25% in rural market.

01:16:38 So that's an indication that rural market is growing.

01:16:43 Although there has been a little stress,

01:16:44 but I feel it has not impacted us to that extent.

01:16:49 Coming March, once the harvest is through of wheat,

01:16:52 which is a bumper crop, mustard, which is going to be a very good crop,

01:16:56 and chana is also there, dal is there.

01:16:58 So I think the rural income will increase after March.

01:17:02 And April onwards, at least I foresee good demand coming up,

01:17:06 the marriage season picking up from 15th of April.

01:17:09 And rural marriages are more in summer than winter.

01:17:13 Do you also see prices then coming down of staples,

01:17:17 which would have a positive impact on margins?

01:17:21 See, one is wheat prices will surely come down

01:17:23 because the harvest is there in March, April.

01:17:25 So obviously from there, it will come down. That is one.

01:17:29 Two, pulses, chana is coming in the market, so chana will stabilize.

01:17:33 Oil is already at a very reasonable level.

01:17:36 One can't say it is high or low,

01:17:38 but it is very reasonable and affordable price of less than Rs.100.

01:17:43 So to take everything together,

01:17:46 I think the staples prices are very well positioned as of now.

01:17:51 And going forward also, I don't see any hike in prices and all that.

01:17:56 Okay. Just one last question.

01:17:58 And I know that nothing much is being said on this publicly right now, Mr. Malik,

01:18:03 but I can't help it. I'm tempted to ask you since I have you here.

01:18:06 Anything you can share on a timeline for divestment or what the plans are there?

01:18:11 Any clarity you can give us?

01:18:14 See, we went public in February 22 and we diluted around 12%.

01:18:21 As per the norms, we are supposed to dilute up to 25%.

01:18:25 So another 13% dilution is awaited. And we have time till next February 25.

01:18:32 So obviously we will have to work on it and there will be discussions

01:18:39 how to dilute it to further 25%. That much I can say.

01:18:45 No plans to exit the business in a large way?

01:18:50 I am not in a position to comment on it as the CEO of the company,

01:18:55 but that is a promoter's call. No, nothing on that I can say.

01:19:00 All right. Thank you so much, Mr. Malik.

01:19:02 Thank you so much for speaking to us and sharing the plans, you know, on this big day.

01:19:07 Definitely what's on the menu sounds delicious.

01:19:11 And of course, for your outlook on what's happening with the rural space as well.

01:19:15 It's time for a very short break. But before we get into that break,

01:19:19 you know, Ayodhya is thronging with celebrities today. Let's listen in to some of those voices.

01:19:25 It's the day of Harsh Olaas. It will be written in the history of India, in the golden words of today.

01:19:31 Ram Lalla will return to his home. Not return, he will return.

01:19:37 And I went to Hanuman Gadi in the morning.

01:19:40 And this whole event, this whole grand event has brought the country together.

01:19:48 The whole atmosphere today, the whole country,

01:19:56 in fact, the whole of India, the whole world is celebrating.

01:19:59 I have never seen such an atmosphere.

01:20:02 Today is Diwali. Today is not just a religious festival.

01:20:08 Ram Chandra's feelings of sacrifice, of being together, and a feeling of selflessness,

01:20:21 all of that will come to our minds. And I want to thank you all very much.

01:20:28 You are taking this message to the whole world.

01:20:31 Jai Shri Ram.

01:20:35 It is a great celebration because it feels like the call has come from the God's world,

01:20:41 and God has called us.

01:20:43 And today is such a good day, today's moment is so good,

01:20:47 that not only in India, but in all three worlds, there is celebration.

01:20:52 Not only in the human race, but in all living beings, there is celebration.

01:20:57 Even the trees are dancing.

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01:24:52 Welcome back, Ayodhya Rising.

01:24:54 You're watching the special show this morning on NDTV Profit,

01:24:57 as we're setting you up for an eventful day.

01:25:01 What we're trying to look at is the economic opportunities

01:25:04 which are being created in Ayodhya.

01:25:07 Vittal Kamath, CMD of Kamath Hotels, is now with us on the show to add more perspective.

01:25:12 Mr. Kamath, welcome to NDTV Profit.

01:25:14 Great to speak with you over here.

01:25:16 Can you give us a sense of the kind of investments we're going to be seeing in Ayodhya from you?

01:25:24 See, anything related to tourism I can speak about because I am in tourism.

01:25:31 Firstly, I would like to compliment you.

01:25:34 You said Ayodhya Rising.

01:25:36 Yes, it is Ayodhya, India and Indians rising.

01:25:41 Because once this kind of thing comes in,

01:25:44 anywhere, it's like a circus.

01:25:46 When the circus comes to the town, the business goes up.

01:25:49 Now, this is an iconic thing which has come to Ayodhya.

01:25:53 And we are also opening in February.

01:25:56 We have our Ira brand coming up there.

01:25:59 Now, I expect there should be at least 300 to 400 hotels will come in at present.

01:26:06 The land price is very, very, very high.

01:26:10 So, slowly it may settle and then along with land also, shops will come in.

01:26:17 Because tourism brings a lot of business, but a lot of turnover, a lot of revenue to the country.

01:26:24 At the same time, people will be coming in, their other requirements.

01:26:29 It's going to grow.

01:26:31 They're going to brush their teeth.

01:26:34 They're going to newspaper.

01:26:36 They're going to go around in the travel.

01:26:38 So, all the allied industry will also grow.

01:26:41 So, about investment, I can't tell you.

01:26:45 I can tell you my prosperity, my industry prosperity.

01:26:48 The industry has a great scope and especially vegetarians like us.

01:26:52 We are in this industry for 80 years.

01:26:55 And last 80 years, we have been selling the best idli, vada, dosa and also vegetarian thing.

01:27:03 We have other four brands like Orchid, Ira and Lotus.

01:27:09 So, we will be bringing all the brands here.

01:27:12 There is enough scope here.

01:27:14 And since we are opening in February, we will be there.

01:27:18 And the early bird gets the worm.

01:27:21 That's the point.

01:27:22 First two, three years, there'll be heavy rush.

01:27:25 I have been a fan, I must say, Mr. Kamath, of your idli, dosas for years.

01:27:31 Whenever you're traveling on the road, you know that that's one stop where you will get great quality.

01:27:36 But just give us a sense.

01:27:38 You're saying your first property opens in Feb.

01:27:41 How many properties in all in Ayodhya?

01:27:43 What are the kind of number of rooms or number of keys that we're going to see in total from you?

01:27:50 Now, I expect around 500 to 600 rooms from Kamath Hotels in Ayodhya.

01:27:57 We have completed 50 rooms already.

01:28:00 There are another 50 rooms in progress.

01:28:03 And we'll be bringing all four brands of ours, Ira, Orchid, Lotus and Kamath Hotels.

01:28:11 All these four brands will be coming in.

01:28:14 I expect nearly around 1.5 lakh people to come once the airport is just opened now.

01:28:22 But the transportation, once it is good, my compliments to Yogi ji,

01:28:27 because the last seven months I'm going from Lucknow or from Kashi, and the roads are the best.

01:28:35 I think Indian roads, one of the finest roads in India, are in UP, and they are wide.

01:28:42 At the same time, the culture is changing, the old habits, they are leaving.

01:28:48 And since Modi ji has provided toilets in every home, now what you see early morning,

01:28:54 what you used to see, that habit is also gone.

01:28:57 So I see that there will be a great footfall here, and there will be a business.

01:29:03 But this is not for us only.

01:29:05 The saree fellow will sell saree, the other businessmen will do their business.

01:29:09 And because there is a business, more people will come in,

01:29:13 and the younger people will get a lot of chance to do business.

01:29:17 Okay. So of course, the economy will boom, you're seeing 1.5 lakh tourists coming in.

01:29:23 I want to speak to you, Mr. Vitthal Kamath, about prices.

01:29:26 Because at least right now, hotel room rates in Ayodhya are mind-boggling.

01:29:32 I mean, you can explain that saying, because we've been showing pictures,

01:29:36 there are only celebrities, top corporate honchos, VVIPs in Ayodhya right now.

01:29:42 So perhaps that's why, because of that surge of demand, you're seeing high prices.

01:29:46 There's a record number of private jets parked at the Ayodhya airport.

01:29:52 So maybe that's why. But going forward, what is the kind of average room rate that you will see in this space?

01:30:02 I see the average rate will be, from a good hotel, a four-star, will be around 8000 to 16000 rupees,

01:30:11 which is not too much, because in Gujarat, now Sardar Patel, Sardar Patel Place,

01:30:19 where it's Sardar Patel at Paroda, their room charges are around 16000 rupees.

01:30:27 So from 8000 to 16000 rupees. At present, because it's just opened, the rates are high, they will settle down easily.

01:30:36 Secondly, other guest houses, small places, and a few other people who have approached us,

01:30:43 there will be long stay. So slowly there'll be a mix.

01:30:47 What exactly happens is, like in Las Vegas, when they announced Las Vegas, they announced 800 hotels also.

01:30:55 They have earmarked their hotel premises, hotel area.

01:30:58 I seem to have lost that feed.

01:31:03 Ayodhya, but Varanasi, at the same time, Lucknow, all the periphery also will grow.

01:31:10 So that's great. There'll be at least 45 to 50,000 rooms will come in Ayodhya.

01:31:19 45 to 50,000 rooms?

01:31:21 45 to 50,000 rooms.

01:31:23 By when, Mr. Kamat, do you think 45 to 50,000 rooms will be there?

01:31:27 Exactly four years from today, 50,000 rooms will come because that includes homestay, that includes the like YMCA style thing.

01:31:38 Then that also includes two star, one star, bed and breakfast, five star, and three star, two star, four star, and the resort place also.

01:31:49 So there'll be a mixture of minimum, minimum 500.

01:31:53 I'm trying to understand whether the infrastructure for that kind of boom exists.

01:32:01 Is there enough land available for 50,000 rooms over the next four years?

01:32:07 Is there that much demand going to be coming in? Just your thoughts on this.

01:32:13 Okay. Firstly, let me tell you about infrastructure.

01:32:17 Once you grow the FSI, the land tool changes.

01:32:23 Bombay had only one FSI, but when they've seen that, yes, now it's short, what they do, they give you vertical FSI.

01:32:32 And that is today Bombay has around four FSI.

01:32:36 So Ayodhya will also solve this problem by releasing or giving this concession of FSI to hotels, to hostels.

01:32:45 Secondly, the infrastructure which is provided is at present, there is a road which is enough, but they will have to make a ring road also.

01:32:58 Third and most important, all connectivity, they have provided for connectivity right now.

01:33:04 They may increase it to eight.

01:33:06 So as the business grows, they definitely do it.

01:33:09 But I've seen the Yogi government is doing a great job and it is a miracle.

01:33:15 It's like the last seven months, what I see and what is today is unbelievable.

01:33:23 All right. So what is the kind of jobs do you think are going to be created, Mr. Kamath?

01:33:29 Because, you know, tourism has a multiplier effect wherever you see that kind of boost.

01:33:35 And spiritual tourism is the fastest growing segment and the largest contributing segment.

01:33:40 What is the kind of multiplier effects you're having on jobs?

01:33:43 If you have, if you said correctly, 500 rooms and all, right, from your end in the next year.

01:33:48 500 hotels. I said 500 hotels.

01:33:51 No, from 500 hotels and all, but from.

01:33:55 50,000 rooms.

01:33:57 From Kamath hotels.

01:33:58 No, no, no, no, no, no, no, no, no, no. Kamath Hotel will put four, all four brands there. We have four brands.

01:34:05 Yes, we will be putting 500 rooms all in all.

01:34:10 OK, so, no, no, I'll tell you what I'm asking.

01:34:12 So 500 rooms from Kamath hotels. What does the kind of employment do you think that will generate?

01:34:18 Madam, one room generally gives job to 35 people.

01:34:23 One room gives job to 35 people person. And that is how, and actually one room gives to the city 75 people job.

01:34:33 So there will be a shortage of training since we have our own training center.

01:34:38 And most of the hotels also have their training center like Taj, ITC.

01:34:43 So there won't be, we'll have to train people and we'll have to send there.

01:34:47 But I have many people working from UP.

01:34:50 So some of them we can release it. We have trained them already here in Bombay.

01:34:54 And then we are sending them there. So there will be a trainer, trainer, trainer program.

01:34:59 And today, what you need is not a highly qualified person, a person whose mindset is to serve.

01:35:08 He must be a hospitable industry person. That's all.

01:35:12 So there will be at least around 20,000 jobs will be available in our industry only.

01:35:21 Okay.

01:35:22 Because one hotel, let me tell you, one hotel of 100 room and is 1.5 ratio.

01:35:30 So 100 room hotel will give 150 people direct job and minimum 600 people indirect job.

01:35:42 That means people who are working will be 150 and who will be making this hotel work like drivers,

01:35:52 like laundry, all other infrastructure what is required for hotel, vegetable vendor, all these people will get job.

01:36:04 Okay. So a lot of jobs coming in in Ayodhya. Definitely you are seeing a boom over there.

01:36:11 Thank you so much, Mr. Vittal Kamath for joining us.

01:36:14 You know, we have spoken over the last several minutes, 90 minutes actually to a whole variety of voices on this special show.

01:36:25 You can go back and see any of those interviews on NDTVProfit.com and on our YouTube channels.

01:36:30 But our coverage is continuing on what we are going to be seeing in Ayodhya.

01:36:35 The celebrities are coming in. You will hear from them.

01:36:38 And of course, live coverage of the Pran Pratishthan from 12 noon onwards.

01:36:43 Thank you so much for joining us.

01:36:45 (upbeat music)

Emergence As Tourist Hub, Market Lessons From Ramayana | Ayodhya Rising | NDTV Profit

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