Bengaluru :

Infosys co-founder and former CEO SD Shibulal is joining the board of The Tamara, the hospitality venture set up by his daughter Shruti, as its chairman at a time when the company is planning at least one fresh acquisition in the German speaking region of Western Europe

Since he retired from Infosys last year, Shibulal has been making investments through his family office Innovations Investment Management, most notably in real estate and hospitality sectors.

“He (Shibulal) plans to use his years of experience on a professionally run board to bring the foremost standards of corporate governance to The Tamara,” said Senthil Kumar N, director and chief executive of The Tamara.

The Tamara, which operates under the umbrella of Shibulal’s family office, also helps manage properties owned by the Shibulal family across the world.

Real estate makes up over half the portfolio of Shibulal’s family office, which has several resorts and projects in India.

The company’s flagship property and brand is the Tamara Coorg – a pet project of Shruti Shibulal, who is currently spearheading the venture’s Thiruvananthapuram project as well as the acquisition being pursued in Europe.

Shruti, who holds an MBA degree from Columbia Business School and started her career with Merrill Lynch, has also been actively building the family’s real estate portfolio. She also runs several finedining restaurants, including Caperberry and Fava in Bengaluru’s upmarket UB City mall.

“Each one of our platforms (such as The Tamara) has a professional management and governance structure in place from the beginning. They develop their own medium and long-term plans based on various factors. For example, our decision to consider acquiring a hotel property in the German speaking part of Western Europe is part of our long-term strategy,” said Kumar, an IIM-Bangalore and BITS-Pilani graduate who joined the Shibulal family office in 2005.

The company has started construction for its upcoming projects in Thiruvananthapuram and Kodai projects. It has also begun operating two new properties – Lilac in Bengaluru and Palma Laguna on the Kerala backwaters, Kumar said.

Shibulal’s family office currently manages the entire wealth of the family including any new funds added through dividends and share sales, and also helps build the philanthropic and business platforms which the family is interested in, Kumar said.

Since his retirement, Shibulal has also become an active investor in the startup ecosystem and even set up a venture capital and accelerator program called Axilor under the purview of his family office, roping in fellow Infosys co-founder S Gopalakrishnan as an investor.

ET had reported last year that Shibulal and his family own several hundreds of apartments and properties across the world. Shibulal and his family currently have about 1.97% of shareholding in Infosys, worth nearly $1 billion (about Rs 6,400 crore).

source: http://www.economictimes.indiatimes.com / The Economic Times / ET Home> Tech> ITes / by Anirban Sen, ET Bureau / July 29th, 2015

Only Special Land Laws can save this Paradise

Making an excuse of my attending a friend’s daughter’s wedding at Virajpet, Kodagu (Coorg), I decided to spend the night at Club Mahindra, about 12 kms from Virajpet proper. Located in a valley, apparently a paddy field earlier, surrounded by coffee plantation in sharp contrast to Taj Vivanta in Madikeri (Mercara), located atop a hill, Club Mahindra is good for young couples with children for a holiday. As for me and my wife Ralie, it was like being in an OCU — Oxygen Care Unit. After all, towns in Kodagu are crowded with people and tourist vehicles spewing toxic fumes and raising dust that do not disappear into atmosphere because of the veil of mist and cold air.

My experience as a guest says that the success of any hospitality industry, specially this kind of holiday resorts, depends on facility and food with courteous, prompt service. How a guest is attended to on arrival and when the guest leaves is also equally important. Actually I was discouraged to choose Club Mahindra by a member of Round Table, who had stayed here last month, for the reason of delay in checking in, goof-ups in allotting rooms and in room service.

It is here the need for efficient human resource arises — from a sweeper to the master chef. Happily, I had no problem — except once when I called for a buggy to take us for the dining hall and it was drizzling. I was told ‘Buggy is only for the old.’ I was flattered that I must have sounded like an youngster to the person at the reception. At the massive dining hall, all was well for us — service, food and personal attention from Executive Chef – Kitchen, Nitten G. Chughh.

Be that as it may, this wedding afforded me an opportunity to meet my old friends and college-mates. One was M.C. Nanaiah, former Law Minister. Many imagine, not without truth, that being a Kodava (Coorg) is to be hard-drinking and pork-eating. Nanaiah as a Kodava and an unemployed politician was a pleasant company for me. Of course, with age we have sobered and are wise to be moderate, both in drinking and eating. However, I confess [and am sure Nanaiah will agree] that the mind is willing to indulge but alas the flesh is weak!

These days it has become a fashion among Kodavas and even among other original inhabitants of Kodagu, to discuss about the onslaught of tourists to Kodagu and the climate change. The damage caused to the district as a result of mushrooming of Home Stays and Holiday Resorts has become a matter of serious concern. I am reminded of the English man’s reaction to the London climate. Everybody complains about the climate, but nobody does anything about it. So it is with Kodagu at present. Nobody seems to be able to do anything to save Kodagu from the impending danger to its land and eco-system as a result of heavy influx of tourists and tourist-related infrastructure — roads, holiday resort buildings, etc. There is another area that poses threat to Kodagu — deforestation, mining of granite and sand.

According to M.C. Nanaiah, Prof. Madhav Gadgil’s Report on Eco Sensitive Zone (ESZ) of Western Ghats is the most acceptable than the second one by Dr. Kasturirangan because the first report would have prevented the proliferation of Holiday Resorts that leads to deforestation and imbalance in ecosystem.

I did not venture to react for I knew that the report, even if accepted, would not have stopped the establishment of Holiday Resorts of all India repute like Club Mahindra, Taj Vivanta or The Tamara Coorg and more, simply because Gadgil Report had merely mentioned 53 villages as out-of-bounds for these activities but what about the remaining 246 villages? Resort hunters could always go in here. If this is under Red category of the two categories created by Gadgil Committee, under its Yellow category you are prevented from using chemical fertilisers for the coffee estate and for other agricultural crops. As agriculture is a gamble, to allow only organic farming will only increase the number of farmer suicides!

The general opinion in Kodagu is that the difference between these two Reports is cosmetic — a difference between tweedledum and tweedledee. Whatever it is, there is an urgent need to bring in special laws relating to land use in Kodagu to save Kodagu from the land sharks and vandals.

And finally, what is a holiday for the fun-loving if there is no booze at an affordable price? Reports say the Excise Department has banned sale of liquors and even home-made wines at the Home Stays. Good Luck bootleggers.

Tailpiece: For the record, according to Excise Department about one crore litres of liquor and 25 lakh litres of beer was sold in Kodagu during the financial year 2014-2015. Hic!

e-mail: kbg@starofmysore.com

source: http://www.starofmysore.com / Star of Mysore / Home> Abracadabra…..Abracadabra / by K.B. Ganapathy / Wednesday – July 08th, 2015