The story of real estate mogul Niranjan Hiranandani, 71, is the story of Mumbai. A little bit of the maximum city’s chequered history, its evolution, and its challenges, can be pieced together in the choices that Niranjan, the son of Mumbai’s well-known ENT surgeon Dr Lakhumal Hiranand Hiranandani, made.

In a free-wheeling chat with AKADialog, Dr Niranjan, ranked by Forbes among the 100 richest Indians, shares his entrepreneurial journey, his leadership mantra, and his love for the city of Mumbai.

Q. Your father was a well-known ENT surgeon. You have a degree in chartered accountancy. Why then did you choose real estate business?

Being the son of a famous father is a challenge. You have to live up to his reputation and make a name for yourself. You have to not just emulate him, but do things in life which will make him proud.
So, while I crafted out my life along a different track, I was very sure that it was the right path. Obviously, it calls for hard work and smart work. Smart work is about setting up the right team and enabling them to grow.
I was sure I was not cut out to be a doctor; the second best alternative in my days was to graduate in Commerce, and a Chartered Accountant was among the toughest exams to clear. The profession itself was challenging. So, that was the path I chose; as a student of Sydenham College, I stood second in Bombay University. The academics being done with, I initially taught students studying for the CA exam, before launching the garments factory in suburban Mumbai’s Charkop. Along with that, I also dabbled in real estate development. As both businesses grew, I had to take a call: which would be the one I would continue with, and which one I would exit from. The garment unit’s labour union made that task easy, they went on strike and asked for doubling of their wages – which made the garments business an unviable proposition. So, I took an exit from the garments business, and real estate development became my preferred option.