The founder-CMD of Brigade Group, 55-year-old M.R. Jaishankar, comes from a reputed family of coffee planters from the hillock town of Chikmagalur, in the Western Ghats, Karnataka. For over a nose candy years, his family has been well known in the region for their business faithfulness and philanthropy.
Jaishankar completed a degree in country Sciences (University of Agricultural Sciences, Bangalore, 1974), following which, he earned an MBA degree from Mysore University in 1977.
afterward a brief stint as a instruction Trainee in UB-MEC Batteries, Jaishankar started MLR Industries in 1980. It was a small-scale unit that fabricate chicory (used for blending with coffee powder to add sizeableness and flavour to the famous South Indian coffee). MLR Industries soon became the largest supplier to Brooke Bond India Ltd. In 1984, the company faced serious industrial relations problems and Jaishankar decided to diversify his entrepreneurial efforts. However, he move to run MLR Industries till 1991.
Selecting a new domain for diversification
scan the horizon to find a channel in which to diversify, the consequently nascent industry
of office development appeared on Jaishankars radar screen. It was in the
pre-liberalisation and pre-IT days.
But Jaishankar had the prescience to see a outstanding emerging opportunity in this yet-to-be organised industry and alike in the potential of Bangalore. His market research confirmed his intuitive grasp that property development would be a dawn industry.
Challenges faced in launching Brigade
At the same time, property developers were a suspect group; not known for imprecate and reliability, and notorious for focusing on short-term gains and totally compulsioning(p) in long-term vision. There were just a lucifer of organisations in the sector, struggling to earn respectability. Expecting people to pay sluice before the building was ready, was a counter-intuitive phenomenon in the business world.
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