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Legacy and Innovation - RMZ Journey to Growth and Social Responsibility with Next-Gen Leaders

Updated on: 04 March,2024 04:11 PM IST  |  MUMBAI
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RMZ Corporation, a leader in the real estate and commercial spaces, prioritizes diversity and familial values in its operational approach.

Legacy and Innovation - RMZ Journey to Growth and Social Responsibility with Next-Gen Leaders

Sidharth Menda and Mihir Menda second generation leader and member of the supervisory board, RMZ Corporation

Sidharth Menda and Mihir Menda, second-generation leaders at RMZ Corporation, shed light on the company's core values of diversity, innovation, and sustainability. They emphasize RMZ's blend of tradition and modernity, driven by familial values and guided by next-generation leadership, shaping the future of the real estate industry.

1. How does RMZ Corporation focus on diversity and familial values to enhance its operational and employee dynamics?

RMZ Corporation's operational and employee dynamics are deeply influenced by its unwavering commitment to fostering diversity and familial values. Deeply rooted in principles like respect, meritocracy, grit and humility, our approach to cultivating an inclusive work culture is shaped by the resilience and perseverance of our family members who endured the embittered India's partition. Their stories serve as poignant reminders of the importance of adaptability and determination in navigating challenges, especially in a rapidly changing industrial landscape. We believe in the continuous journey of learning, recognizing it as indispensable for staying ahead.

Our culture at RMZ is characterized by empowerment and meritocracy, where every individual is encouraged to lead within their expertise. Through coaching and support, we nurture leaders, breaking down barriers and promoting collaboration. Thought leadership is actively sought, and diverse voices are brought together to co-create and innovate, resulting in enhanced collective output. At the very core of our ethos is a deep sense of care, both within our family and the broader RMZ community, fostering belonging and driving impactful change. This commitment guides our mission to make a meaningful difference in our communities, inspiring all members of our organization to embody these values and contribute to a thriving, inclusive work environment.

2. As RMZ transitions with new leadership, how do you balance legacy preservation and innovation, guided by inherited values in achieving financial success and social responsibility?

Navigating the transition within RMZ's leadership while honoring our legacy and embracing innovation is a responsibility we hold dear. The legacy that RMZ holds as a revered institution in the real asset sector stands as a testament to the visionary groundwork laid by our predecessors. As we step into our roles as the next generation, we are humbled by the opportunity to further enrich this legacy.

For us, the allure lies in the unique position we occupy – inheriting a strong foundation, while also being poised to steer RMZ into new frontiers. We are driven by the prospect of expanding RMZ's reach across diverse sectors, envisioning its evolution to a premier global alternative asset owner. Our approach centres around the recognition of our distinct role as owners, utilizing familial capital to drive innovation and growth, a departure from the conventional model of managing institutional funds with limited ownership stakes. The landscape ahead is brimming with possibilities, and we eagerly embark on ventures spanning various industries and geographies. Our commitment to preserving our heritage while embracing innovation is unwavering, as we seek to achieve financial success and uphold our social responsibility. We are excited to embark on this journey, fueled by boundless enthusiasm for the transformative opportunities that lie ahead.

3. How does RMZ blend financial savvy with social consciousness in its ventures? And, how will you achieve growth while prioritizing sustainability?

RMZ embodies a holistic approach that integrates financial acumen with a strong sense of social consciousness in its ventures. One-way RMZ blends financial savvy with social consciousness is by incorporating environmental, social, and governance (ESG) principles into its investment decisions and business practices. We recognize that addressing environmental challenges, promoting social equity, and upholding governance standards not only align with our values, but also contribute to the resilience and longevity of our ventures. This approach allows us to mitigate risks, enhance stakeholder trust, and create value for all involved parties, including investors, employees, communities, and the environment.

At the core of our strategy is the understanding that sustainable growth and social responsibility are not mutually exclusive but rather intertwined elements essential for long-term success. Moreover, RMZ actively seeks out opportunities that generate positive social impact alongside financial returns. Whether it's investing in sustainable infrastructure projects, fostering inclusive workplaces or supporting community development initiatives, we prioritize ventures that contribute to societal well-being while also delivering competitive financial performance. By leveraging our resources and expertise, we aim to address pressing social and environmental challenges while simultaneously driving economic growth and prosperity. In terms of achieving growth while prioritizing sustainability, RMZ is committed to adopting a comprehensive and integrated approach across all aspects of our operations. RMZ focuses on implementing sustainable practices across our real estate portfolio, including energy-efficient building design, resource conservation measures and green building certifications. We also prioritize stakeholder engagement and collaboration to ensure that our growth initiatives are aligned with the needs and aspirations of local communities, regulatory requirements, and global sustainability goals.

4. How does RMZ Corporation utilize the varied expertise of its Supervisory Board members to foster growth, sustainability, and ethical governance?

Being entrusted with the RMZ legacy as the next generation is a profound honour. RMZ has evolved into a globally respected institution in the real asset sector, is a testament to the formidable foundation laid by our parents. This profound appreciation of our family values guides us in every sphere of our lives, imbuing us with the belief that success and ethical conduct are not mutually exclusive but rather complementary.

For instance, Sidharth's background in real estate finance equips him with the acumen to spearhead strategic initiatives aimed at driving innovation and sustainable growth within dynamic markets. His strategic vision encompasses the development of new asset classes and strategic land acquisition, enabling RMZ to expand its footprint strategically while maintaining financial prudence. Likewise, Mihir brings a technical perspective grounded in engineering and finance to the table. His expertise enables a deep dive into operational efficiencies, financial structuring, and innovation implementation, contributing to the enhancement of RMZ's operational effectiveness and financial resilience.

The synergy between these diverse skill sets fosters collaboration and comprehensive decision-making within the Supervisory Board. RMZ ensures that its growth strategies are well-informed, resilient, and aligned with its long-term vision. This collaborative approach not only enhances the quality of decision-making, but also promotes a culture of continuous learning and adaptability, essential traits for navigating the complexities of today's business environment. Moreover, the Supervisory Board members' experiences outside RMZ, gained from working in various institutions, provide invaluable insights into different industry practices and enhance their ability to contribute meaningfully to governance and strategy discussions. These experiences, coupled with their diverse skill sets, enable the Supervisory Board to uphold the highest standards of ethical governance while driving sustainable growth initiatives.

5. How is RMZ pioneering the integration of AI and other advanced technologies to revolutionize efficiency, collaboration, and growth in real estate, setting a new standard in an industry traditionally slow to adopt innovation?

Despite the industry's historical reluctance to adopt innovation, RMZ is leading the charge by embracing technology across all facets of its operations. The role of AI is particularly significant in reshaping RMZ's approach to efficiency and strategic decision-making. From digital notaries to cloud-based document storage, we have digitized nearly all our workflows to facilitate remote operations, making our processes markedly more efficient. Moreover, AI will play a crucial role in our operations, particularly in forecasting and predicting trends. This capability allows us to make informed decisions, stay ahead of industry shifts, and identify new opportunities with greater accuracy. In today's competitive landscape, technology adoption, especially AI, is not just a bonus—it's an absolute necessity.

Furthermore, RMZ is developing its proprietary RMZ Operating System (OS) to streamline operations and facilitate faster access to critical information for all stakeholders, both internal and external. Through this initiative, RMZ aims to drive cost savings and operational speed, empowering teams to collaborate more effectively and make data-driven decisions in real-time. By partnering with a leading global management consultancy for implementation, RMZ ensures that its OS incorporates best practices and cutting-edge technologies to maintain a competitive edge in the industry.

The role of Gen-Next leaders within RMZ is pivotal in driving these technological advancements forward. As the torchbearers of innovation, our young leaders bring fresh perspectives, digital fluency and a forward-thinking mindset to the table. Their understanding of emerging technologies and willingness to embrace change play a crucial role in championing technological initiatives within the organization. By actively participating in the development and implementation of AI-driven solutions, our next-generation leaders contribute to RMZ's success in redefining industry norms and setting new benchmarks for efficiency and growth.

6. How does RMZ Corporation intend to cultivate a culture of collaboration and joint decision-making among new CEOs to drive innovation?

As RMZ Corporation's supervisory board has transitioned away from direct management responsibilities, we repose complete faith in our CEOs and their teams, empowering them with the autonomy to oversee their respective business domains confidently. In order to cultivate collaboration and consensus-building among our new CEOs, RMZ employs a comprehensive approach centered on open communication, mutual respect and goal alignment. One of our crucial strategies involves establishing regular fora or meetings, where our CEOs can convene to discuss strategic priorities, share best practices and collectively address common challenges. These sessions serve as invaluable platforms for relationship-building, trust formation and the exchange of diverse perspectives, facilitating greater synergy across the organization.

In addition, RMZ has implemented robust governance frameworks for decision-making, ensuring that risks are managed effectively, and resources are allocated optimally towards strategic opportunities. By providing clear guidelines and structures, we empower our CEOs to navigate complex decision-making processes with confidence and clarity. RMZ also invests in the professional development of its CEOs by organizing workshops and training sessions focused on effective communication, conflict resolution and consensus-building techniques. Equipped with these essential skills and tools, our CEOs are better equipped to navigate challenging situations, build consensus among stakeholders, and drive collective action towards achieving the company's overarching objectives.

7. How do Gen Next leaders utilize its family legacy and values to gain a competitive edge while adapting to emerging real estate trends?

RMZ Corporation's next generation of leaders hold in high esteem the principles passed down to them. Our deep-rooted connection to our family values guides our actions, reminding us that success and ethical conduct are intertwined, not separate entities. Drawing from the wisdom of our predecessors, we are steadfast in our belief that achieving success while upholding ethical standards is not only achievable, but imperative. As custodians of our family's capital, we approach investments with a dual perspective: they must be both prudent and socially responsible. We lay the groundwork for sustainable businesses that drive positive change in the world by investing in ventures that align with our values of social and environmental responsibility.

Growing up within a family deeply entrenched in the real estate industry, we have cultivated a profound appreciation for the spaces we inhabit and the impact they have on individuals and communities. This awareness fuels our commitment to fostering a respectful and nurturing relationship with our environment. We recognize our role as stewards of the Earth, and our decisions – both personal and professional – are guided by a sense of responsibility towards our community and the planet at large. By acting as conscientious inhabitants of our environment, we strive to ensure that our actions contribute positively to the well-being of the ecosystem we are part of, leaving a lasting legacy of sustainability and social impact.

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