The affordable housing space has been smeared by lack of trust and shoddy quality. While some reputed players have recently ventured in this space, the affordable housing segment is still primarily dominated by local builders. Shapoorji Pallonji is a visionary brand that has over 150 years of experience in creating premium and high-quality real estate. By leveraging their heritage and expertise the brand wanted to lead the change in the way the consumers looked at affordable housing.
About Shapoorji Pallonji
Shapoorji Pallonji has been in the business of construction for 150 years, creating iconic landmarks like the Taj Mahal Hotel in Colaba, the Mumbai Central railway station, the Reserve Bank of India building, the Bank of India building and the Palace of the Sultan of Oman. With a rich legacy and strong heritage, Shapoorji Pallonji is known to be a trustworthy and premium real estate developer in India. Over the last 3 decades, Shapoorji Pallonji has expanded across India and into new market segments.
The Challenge & Brief
With urbanisaiton and increase in income levels, the real estate industry has seen a rise in demand in the affordable housing segment. However, real estate developers have not been able to match the demand. Shapoorji Pallonji has a vision to bridge the supply gap in this by offering quality homes and lifestyle coupled with trust and empathy towards their customers, whilst being true to their roots.
Shapoorji Pallonji has been primarily known for creating high-end, premium properties. Concerned that their venture into the affordable housing segment would stretch their brand, they asked Landor to create an approachable and trustworthy brand that will be the gold standard for affordable housing in India.
What We Did
We conducted in-depth interviews to understand the vision of internal stakeholders and spoke to industry experts to identify market trends in affordable real estate. We also commissioned a consumer research study to understand the aspirations of the target audience. What were they really looking for in their homes?
We discovered a drastic change in the mind set and aspirations of the lower-mid to low income consumers. They no longer define themselves by where they were born. They are constantly seeking ways to make their lives better by working hard and earning more. They dream of things they cannot achieve in their current situation but believe that hard work will pay off one day. Buying their own home and offering their families the best that they can afford gives them a sense of achievement, bringing them a step closer to their aspired reality.
This led us to the insight that ‘A home is a badge of honour that determines one’s social standing. It is a reflection of one’s aspirations. Aspirations that are sometimes larger than life.’
Based on the insight, we created a brand positioning of ‘The Maximizer’, which matches the bold and daring personality of the target customers. The new brand empowers aspirational Indian buyers to step up towards their dreams. The brand is built on the pillars of resourceful thinking, an innovative mindset, a value-driven approach and unparalleled experience garnered over 150 years, enabling Shapoorji Pallonji to maximize the value that they create for their customers at every step of the way.
The real estate market is flooded with names that feel luxurious and Western. We felt the need to ensure that the new brand name spoke to the aspirations of customers in an approachable manner. We jointly selected Joyville, which speaks to happiness, togetherness and the elation of achievement; and is a strategic fit to the brand personality.
Brand Identity and Visual System
The brand positioning and name are perfectly blended together in the brand identity. The letter ‘J’ illustrates a person jumping with joy of achievement of his life goals. The bright orange colour, combined with the Shapoorji Pallonji brand colours, brings out the warmth and vibrancy of the new brand.
The Road Ahead
The new brand, Joyville, has already bagged foreign direct investment from three major private equity firms and was launched in the end of January 2016. Their goal is to build about 20 million square feet of affordable home space in Kolkata, Mumbai, Pune, National Capital Region, Chennai, Bangalore and Ahmedabad in the next seven years. They are nearing completion of their first project at Howrah, Kolkata and have begun talks of a project at Virar, Mumbai.
See more of our work on: landor.com/work