Sushil Mohta Managing director, Merlin Group

The house that the Merlin Group has built has many rooms. The core is housing. But the Calcutta-based group has now extended its activities to commercial complexes, office buildings, malls, townships, clubs and the hospitality sector. Says Sushil Mohta, managing director and the man who has propelled the group for the past three decades: “Our mission is simple: To surpass customer expectations, sustain quality, and go beyond just making homes by adding new dimensions to lifestyle.” But execution is not so simple. “You won’t get anything if you don’t dream and work towards actualising it,” says Mohta.

Born in a typical Marwari family in Calcutta, Mohta aspired to surpass the achievement of his father, whom he idolises. “My father was a self-made man. I definitely wanted to do more than him. He gave me a launch pad and it was up to me to take the leap,” he says.

Mohta did his schooling from Birla High School and went on to pursue his bachelors from St Xavier’s College, Calcutta. He was only 17 when he started working in his family’s ball bearings business. “Like any Marwari boy it was obvious that I would be helping out my father in our family business and carry on with my studies simultaneously,” he says. “I still remember how I would rush everyday to office once my morning college was over. The routine was a bit hectic but it did help in the long run.”

Once done with his bachelors, Mohta plunged into the family business full time. But he soon decided to forge out on his own. His choice — real estate — was unusual. Back then real estate was not a happening area. But Mohta felt there was huge potential in the organised real estate market.

“During those days the market was mostly unorganised and developments in the city were limited in size to 5-10 cottahs (each cottah is around 720 sq ft). There were also huge information gaps,” he says.

But this didn’t act as a deterrent. “The real estate business requires sound knowledge of land-related laws,” says Mohta. “As a fresher I faced a lot of problems. But the burning desire to make it big made me spend quality time with lawyers, read up on laws related to land acquisition, and learn the tricks required to get land clearance. Hard work pays, you see.”

Did he go back to college to upgrade his knowledge? Prompt comes the reply: “The practical experience that I gained by joining my father’s firm equipped me to handle the situation. I never felt the need to go for higher studies. The experience that I was gaining was far better than theoretical lessons.” However, he did acquire a couple of relevant diplomas, if only to satisfy his customers.

Once Mohta learned the ropes, there was no looking back. Because all this was new to him, he started on the right foot. He ran his business along corporate lines, which brought in a degree of professionalism into this sector.

Mohta also decided to widen his experience by tapping others. He visited real estate development sites around the country. He studied projects at various stages of construction. He analysed the experiences of other developers and constantly learnt from them.

After years of hard work and lessons learnt, he rejigged his business and created the Merlin brand. This was in 1990. Says Mohta: “The Merlin Group is an achievement for me. I have managed to do what I had dreamt of. This makes me quite happy.”

“Today the Merlin Group has a high brand recall and is a trusted name in not only affordable housing but also concept formats like Merlin Greens, Ibiza, Homeland Mall, Princeton Club, South City and many more outstation projects,” he continues.

“That makes me proud of what I have achieved. But now my interest lies elsewhere.” The priority for Mohta today lies in developing mass housing for those who can’t afford plush residences. And to meet his call he has got into an association with the government of West Bengal. The two have set up a joint venture styled Bengal Merlin Housing Ltd. Mohta has also flagged off a public-private partnership with the Kolkata Metropolitan Development Authority to develop Acropolis, a mixed-use commercial project.

Mohta is extremely optimistic about the future of the real estate business in India. “The next 20 years will see massive growth in the Indian economy. This will definitely raise the standard of living of Indians and will, in turn, result in a real estate boom. For any youngster this is the best sector to work for.” Merlin and Mohta are casting an alluring spell.

Based on a conversation with Shabina Akhtar in Calcutta