About Brick Eagle Group
India is home to 78 million homeless people. The country needs over 5 million affordable homes each year, whereas supply is less than 10% of this demand. Affordable housing in India is a local game and over 90% of the supply today comes from ‘Local Developers’ across the country. Growth of these developers has been hampered due to lack of funding and professional management.
Brick Eagle was founded in 2011 with a vision to provide market-based solution for the housing poverty in India. The group strives to bridge the funding gap and empowers Local Developers across the country. Besides providing capital to developers, we also offer them a management tool kit on corporate governance, financial discipline and Industry best practices. We realize that Developers need support across the value chain in order to deliver housing in scale. Hence we are incubating an ecosystem of entrepreneurs providing various services right from product design to township management.
We understand that with great opportunities come great responsibilities. Our commitment to sustainability is one amongst it and hence, we pioneered the concept of ‘Affordable Green’;. Our goal is to reduce carbon footprint of our developments by using locally available materials and adopting green construction technologies. Once demonstrated, we hope this model can become a prototype for affordable housing development across the country.
We at Brick Eagle envision a movement to eradicate homelessness in India over the next few years. Being in a position to make a huge impact only inspires us to continue doing what we do best… changing lives of people by providing them their dream homes.
Brick Eagle’s Ecosystem of Affordable Housing
Over the past five years, we have developed a disruptive model to deliver Affordable Housing across the country. The model hinges on partnering with Local Developers and incubating Entrepreneurs to plug gaps in the affordable housing value chain.
We operate through four business divisions.
India needs 5 million homes each year which translates into a $100 billion opportunity annually. Despite tremendous potential, the affordable housing industry remains capital starved. Today, the demand side is adequately serviced with multiple Housing Finance Companies and banks thriving on policy and regulatory support.
On the supply side, major bottleneck constraining development of low cost homes is availability of initial 30% capital which translates to a funding requirement of about $30 billion year on year. Today, this space remains virtually untapped without presence of any significant institutional player. This has resulted into a huge void which needs to be filled in order to build housing in scale.
Brick Eagle, being a financial services platform, endeavours to bridge this funding gap and enable development of affordable homes. Brick Eagle’s fundamental premise for making investments in affordable housing segment is that every $100 million invested into housing projects should catalyse 100,000 homes.
Affordable housing remains a local game and over 90% of the supply today comes from Local Developers across the country. However, the growth of these developers has been hampered due to lack of knowledge, funding and professional management. Brick Eagle empowers such capable developers, who are willing to deliver affordable homes, and nourishes them with a ‘Venture Toolkit’.
The governance framework injects discipline and maintains integrity of the processes and commitments made to the market. The Venture Toolkit contains best practices from the Brick Eagle family and the real estate industry. This helps in attaining high performance standards against time, quality and budget. The professional management, technology, knowledge and access to capital empowers the developers to scale up.
Today we have incubated five such developers
Promoted by Brick Eagle, Sheltrex offers self-sufficient and sustainable community living spaces in India’s residential segment. Focused to employ world’s latest technologies, Sheltrex assures highest standards of health, safety, education and environment.
Sheltrex has already delivered close to 800 units till date in its marquee township project ‘Sheltrex Karjat’ and is poised to handover about 300 houses per quarter. The company has projects executed and planned at Karjat, Kasara, Oragadam, Coimbatore and Kalamb. With a vision to promote quality life spaces and technology enabled living, Sheltrex aims to evolve as India’s foremost technology driven housing company.
A developer specialized in affordable townships, Olympeo has its focus set on bridging the gap between ‘lifestyle’ and ‘affordability’. The company’s DNA is based on ‘Care x 4’ wherein the focus lies on care for customers, employees, community and environment.
Olympeo has showcased capabilities in land acquisition and project execution. The company launched its first project ‘Olympeo Riverside’, an integrated township spread over 25 acres at Karjat, near Mumbai.
Deriving its name from the words ‘Play’ and ‘Liberator’, Playtor remains true to its meaning and develops child-centric community spaces. Playtor also represents Brick Eagle’s first incubated company committed to delivering social housing, with homes available for as little as Rs. 10 lakh.
The developer holds a proven track record of delivering projects spanning about 2 million sq ft across 6 projects. Currently focused on creating cheerful, vibrant and sustainable communities in and around Pune, Playtor aims to extend its reach to the outskirts of India’s major metropolitan cities.
VALUE CHAIN PARTNERS
We realise that to deliver in scale, it is imperative to plug gaps in the affordable housing value chain. To address this need, we created an ecosystem of affordable housing by incubating entrepreneurs who would provide various services to local developers. Few among the key services offered through our value-chain partners are – marketing and sales, design and architecture, construction, project management, technology, supply chain management and targeted distribution.
Today we have six such service providers
With a commitment to ‘innovation based green designs’ which promote ‘Green Living’, IdeinLab serves as the ‘Soul of Sustainability’ for Brick Eagle and our incubated developers. Apart from its architectural expertise, IdeinLab also assists a developer as an integrated design consultant.
The services offered from Idein Lab’s basket involve – innovative and spatial designs, cost and material efficient structural designs, sustainable water management strategies, designing energy efficient systems, eco-friendly lighting systems, designing waste management techniques and sustainable landscape design.
Foyr brings interior designing to your handheld devices and computers. Blending both design and technology, Foyr is a one-stop destination to meet the interior design requirements for affordable homes.
From hand-picked furniture to top design inspiration, Foyr is also developing interactive elements via 3D software to make customised home designs. Foyr aims to create India’s biggest inventory of local home-décor products.
Shraburey serves as an engineering, procurement and construction partner with a focus on affordable housing projects. Equipped with best in class technologies, Shraburey aims to contribute effectively, improvise and fast track the process of project delivery.
The team has a proven track record and is backed by professional experts from the construction industry.
SOCIAL HOUSING FOUNDATION
The Brick Eagle Foundation (earlier known as Ashram) was set up in 2014 as a section 8 company, to specifically focus on the housing needs of the urban poor. Since most of the housing gap exists for the low income and economically weaker sections of society, it becomes imperative to design and build spaces that reflect their specific requirements. It is our endeavour to create 500,000 units of housing for the urban poor by 2030 leading to improvements in health, education and livelihoods, reduced crime rates and enhanced dignity, self-esteem and self-respect.
The foundation has been focussing on building the social housing ecosystem by partnering with other Brick Eagle group companies, NGOs, CSOs and donors/ impact investors to address the social housing challenges. The foundation and its partners with their deep understanding of the ‘customer’ is able to present a unique, scalable and sustainable market driven solution for social housing, combining three key elements: R&D, Financial Engineering and Social Infrastructure.
Research & Development
BEF works with local communities, architects and designers to develop locally relevant and appropriate design solutions for the urban poor. By conducting ethnographic studies, review of local material and discussion with experts, the foundation is developing small format designs that are innovative, optimize space and are environmentally sustainable. Our project site in Karjat is presently developing a model site based on all these factors. Other innovative elements include not only rain water harvesting as required by law but will go a step ahead to become water positive and supply water to other housing units in its vicinity. The foundation is presently developing designs for retirement homes for the urban poor, housing for vulnerable women groups, rental hostel designs for youth travelling to urban places to study or acquire a vocational skill, etc.
BEF has developed a unique model to deliver houses at as low as Rs.5 -10 lakhs ($8-15,000)/unit. The groups expertise in identifying the right investment opportunities allows the foundation to leverage social capital and invest in ventures that generate fair economic and high social returns. Every $1 million of social capital leads to creation of $150 million of assets for communities living is sub optimal habitats while grants can lead to asset creation in perpetuity with the right financial engineering.
The foundation has developed a unique model of partnership with NGOs/CSOs who play a crucial role is understanding customer needs, creating awareness amongst the urban poor on the home buying process, building their capacity to access home loans and government subsidy (where applicable) and hand holding the buyers through the entire home ownership process. Our partnership with Griha Pravesh, a social enterprise in Gujarat has already led to 700 homes being purchased and successfully transferred to our target customers. In addition, the foundation is developing models that will ensure the right social ingredients for our habitats viz. livelihood and vocational training centres, common service centres, good management practices for the new habitats like RWAs, etc.