According to NITI Aayog, the Indian real estate sector will reach $1 trillion in market size by 2030 and contribute 13 percent of the country's GDP by 2025. India's expanding infrastructure demands are getting fulfilled with a tremendous expansion in retail, hotel, and commercial real estate, where the sectors are rebounding to pre-pandemic times. Most operators in the student housing sector are active across major cities and are in educational hubs such as Dehradun, Jaipur, Chandigarh, and Delhi. These cities have a more significant number of migrant students than most other cities, thus marking their scope for student accommodation. Experienced professional with a demonstrated history of working in real estate, Niharika Jain, founder of Zhelter, is leading the company towards higher skies. Zhelter provides the coolest youth settlement by making the living comfortable, luxurious and transformative with mentors to guide the students professionally.
A born entrepreneur skilled in negotiation, business planning, market research, and management, Niharika is passionate about providing stress-free accommodation for students and believes in building a solid community glued with cultural ties.
Niharika Jain engages in a one-on-one interaction with the CEO Insight Magazine.
Tell us about your early educational journey and prior industry experience.
Being raised in a business family, I got enamored by the business world as even dinner conversations revolved around upcoming opportunities and viability. I always wanted to start my own business, which prompted me to pursue a Bachelor in Commerce with honours from Delhi University. Then did an MBA focused on Strategy and Marketing from the Indian School of Business to understand the various nuances of business. I worked with funded startups like Housing.com and Flipkart to get more insights into the startup world and finally joined my family business in real estate and led commercial leasing from them.
What motivated you to establish Zhelter? Tell us about the underlying idea behind the firm and some of its most unique features.
While evaluating various startup ideas, I was looking at creating impact as much as making a profit. With an ultimate drive of earning profit with a purpose, I was looking at businesses through which I could empower and positively impact the lives of the underserved segments of the society-women or students. Even though 90 percent of the students seek off-campus accommodation, living solutions for students in India are minimal and often neglected. My motive for starting Zhelter was to provide cost-effective and comfortable accommodation to students enabling them to focus all their time and effort on their education and personal development. Our properties are fully equipped with all the facilities like comfortable space, nutrition, and super fast wifi, keeping in mind the specific requirements of these young adults. As a by-product, we created a strong community of students collaborating and leaning on each other. We have fueled this community with knowledge-sharing sessions, mentoring support, and cultural celebrations. We have professional teams to care for food, laundry, security, and much more, and technology ensures a seamless experience. We are proud to be that place where these students make their first friends and transition into responsible young adults. Zhelter is their first home, away from home.
What are some of the most pressing challenges you encounter in leading the Zhelter team? How do you successfully mitigate these challenges?
As my teams work in different locations and geographies, I have to take various initiatives to engage with them, apart from just taking updates from work. We have set processes to ensure accountability and regular reporting to ensure consistency across properties and locations. I want to extend this interaction beyond work and enable communication amongst teams. I feel that the employees need to have a sense of belonging to feel a part of the mission and share the common goal. We are trying to organize mixers at different properties to get to know each other better and provide candid feedback. I thrive in building teams who are trustworthy and believers in the company's mission statement.
"Be surrounded by people who support their dream and create their set of cheerleaders"
What are some of the most significant milestones you have achieved throughout your professional journey? What has been the driving force behind your success as a professional?
The first set of customers has been the most significant milestone for me as they give you a great sense of validation when you need it the most. Also, their unfiltered feedback has helped me shape the business and improve. Another milestone was when we sold out our entire inventory within seven days of launching and achieved 125 percent of the targeted revenues. Customer satisfaction and happiness have been my most significant parameter for success and motivation, as I feel these loyal customers end up being our biggest cheerleaders. They not only bring in new customers but also bring new growth opportunities.
In your opinion, which emerging industry trends are going to create a significant impact on the way the Indian real estate industry functions? How do you keep yourself aligned with the various evolutions in your respective field of work?
The industry is experiencing a paradigm shift due to the dynamic nature of new businesses, and the uncertainty presented. Real estate industry is adapting to flexibility and accountability which has been lacking over the years. Many policies are coming to empower the end consumer and make the builders and developers more accountable. Also, the developers are accepting emerging classes of real estate which present better and more consistent returns. Their role is evolving from an isolated and indifferent landlord to almost a business partner and stake holder, adapting to the unique requirements of the emerging segments. The best way to be aligned with new trends is to keep in touch with people. I am a part of many online and offline communities which facilitate such interactions, and I also enjoy meeting new people, especially entrepreneurs and business owners.
Niharika Jain, Founder, Zhelter
An outstanding leader guided principally by her intellect, Niharika is enthusiastic about supporting students in their success by offering a luxurious, comfortable space with an intellectual environment.
Awards & Recognitions:·
Awarded funding by Mumbai Angel Investor at IIM-B Flagship event·
Recognised for spearheading and scaling woman safety initiative- Safecity in Delhi NCR
