ANTARA SENIOR LIVING

Mrs. Tara Singh Vachani

Managing Director & CEO

Mr. Ajay Agrawal

Chief Financial Officer

Ms. Ambica Chaturvedi

Director - Human Capital

Mr. Badar Afaq

Head - Information Technology

Ms. Deepa Sood

Legal Counsel

Mr. Kenneth Sannoo

Consultant – Community Development

Mr. Nitin Mathur

Head – Projects

Ms. Renuka Dudeja

Head - Brand & Communications

Mr. Sanjay Bhatia

Head - Relationship Building

Antara Senior Living, part of the Max Group, is an idea to create an active, comfortable and warm residential concept for progressive seniors. Spread over 14 lush green acres in Dehradun, Antara is a luxurious, fully integrated community designed around the safety, wellness and lifestyle requirements of progressive seniors above the age of fifty-five. The promise of a better life at Antara for our residents is built on the pillars of a unique location, thoughtful design, a curated community and holistic well-being. One that offers physical, mental and spiritual well-being. A place you can look forward to be a home in every sense of the word, in serene atmosphere, where one can relax in the lap of nature.

Antara thus is a ‘continuous care’ proposition. Full of vibrant life, an epitome of care and gracious living, the habitats can make life magical post fifty-five. With a fulfilling lifestyle and myriad opportunities to explore, engage and enjoy. Antara is a carefully designed, sprucely serviced community. Here senior citizens can enjoy in the luxury of nature with like-minded people of almost the same age group. Every minute detail is looked into; no household chores and daily routines.

At Antara, the aspiration is to create a community where our residents feel they belong to each other like a family although they may have never met before. Common interests, beliefs and hobbies bond our residents together in enigmatic threads to build and nurture a community where friends can become family. Antara truly believes that seniors should be made so comfortable that they just do not miss the comforts of their homes.

With over 60,000 square feet of recreational and wellness spaces, 190 apartments, Antara Senior Living brings a unique dimension to the perception of retirement homes in the Indian subcontinent.

Our Concept and Positioning: Antara Dehradun

With a growing number of seniors, who are well travelled and are accustomed to a certain quality of life and infrastructure, Antara is a community which enables them to maintain the lifestyle they are habituated to.

Antara has been carefully crafted by internationally renowned architects Perkins Eastman from New York and Esteva & Esteva from Spain, with design execution support from ArcopArchirecture Inc. and Studio Lotus. With leading construction partners such as Shapoorji Pallonji, Suri & Suri Constructions, Vadhera Builders (Civil works and finishing works respectively), Sterling Wilson (Plumbing & Fire Fighting), Jakson (Electricals), Antara has been created with a unique design philosophy to encourage the highest quality of living. This has been integrated into every aspect of the community through an adherence to international standards of specialised design intervention. With over 60,000 square feet of recreational and wellness spaces, 190 apartments, Antara Senior Living brings a unique dimension to the perception of retirement homes in the Indian subcontinent.

Business Performance

Antara achieved the following results in FY 2018:

  • Sales: By March 2018, Antara was able to achieve 91 sales.

  • Collection: Antara’s collections at the end of FY 2018 totalled ₹ 250 Crore

  • Resident Satisfaction (RSAT) Score: Antara achieved an impressive 84.75% RSAT score in FY 2018. The Resident Satisfaction survey was launched in July 2017, and is conducted on a quarterly basis. The above performance is basis the weighted average score of three surveys conducted in FY 2018.

  • Team Engagement Score: Antara’s team engagement score in FY 2018 stood at 91.30%.

  • Business Growth and Development: The Antara team has been working on identifying low-risk, capital-light opportunities in Delhi/NCR and Mohali region.

Key Developments of FY 2017-18

Antara Dehradun became operational in April 2017. Over 61 residents have already moved into their apartments. The operations team has worked very closely with the projects execution team during the transition phase. This close synchronisation has helped the operations team complete a seamless handover of projects.

With the entire team in place, all spaces being operational, both hardware and software aspects of the community are in place to offer every service to Residents as envisaged by them at the concept stage. Over 92% of the sold apartments have already been offered possession of which more than 69% Residents have moved into the Community.

FY 2018 focussed on the following initiatives:

  1. Building efficient operational systems, processes and an integrated technology platform to help drive the Community operations smoothly.

  2. Focus on stabilising community operations in terms of people, process and product.

  3. Working on creating resident satisfaction survey and its implementation through an online medium, tracking of survey results, MIS and closure. The eventual goal is to move to a scoring system based on the “Happiness Index” for all residents which would be an indicator of the services provided by Antara.

  4. With the Community becoming operational, there is an increased focus on acquiring customers through experiential visits to the actual site, -- taking likely occupants or their families around the community homes --, backed with well-planned campaigns over print and digital media, advertorials, resident and client events at the Community.

  5. Scouting for right growth opportunity in partnership with credible developers in Delhi NCR where Antara contributes to the partnership in the areas of its core strength, thus making it a low-risk and capital-light business model.

  6. Creating and presenting a complete business plan for setting up such a partnership model for the approval of the Board.

Life at Antara

A typical day at Antara starts with waking up to the picturesque view of Mussourie, going for a morning walk on a jogging trail, followed by yoga / meditation. Generally, residents like to enjoy breakfast at Avika. Pre-lunch activities include pottery class at a creative workshop, aqua aerobics at ‘The Pool’. Residents if they wish also have an option of going for a trip to Dehradun in a shuttle. Evening activities offer either enjoying a movie at ‘The Theatre’ or language learning in ‘The Library’ or participating in social engagement activities volunteered by residents and facilitated by Resident Engagement team at Antara. Residents also have options of enjoying tennis, badminton or golf putting, or even housie and scrabble.

Antara offers a variety of cuisine options to suit the tastes of a diverse group of people living as a Community. Spaces such as Avika, The Bar, The Veranda, Community Kitchen have thus been organised. The Antara Wellness Centre offers medical as well as holistic wellness services to its Residents, managed by an in-house competent team.

Future Roadmap: Low-Risk & Capital-Light Business Model

The Antara corporate team has been working over FY 2017-18 to create a clear roadmap for future communities based on learnings from Dehradun as well as exploring other potential similar avenues of business growth. In line with the direction of the Board, the team has been able to identify and work on a few low-risk and capital-light opportunities based on the Operator’s model in Delhi NCR and Mohali region.

New projects are being set up with a size of 300-400 units to achieve better operational efficiency as opposed to early communities which were mostly restricted to a size of 100-200 units.

The broad highlights of Operator’s model are explained below:

  • Antara to invest ₹ 15-20 crore to special purpose vehicle as reimbursable investment to kick-start sales and initiate early construction needs, as also corporate cost expenses.

  • Developer partner to contribute land and take the responsibility of construction.

  • Antara’s responsibility will be providing Design, Quality assurance, Sales and Marketing support, Programme Management during Project & Sales phase and independently run the Community Operations post-handover of residences by the developer.

  • Antara will get a negotiated fee for services provided during the project phase as a percentage of revenue.

Industry Outlook

In India, Senior Living as an industry is slowly being considered. It is witnessing a gradual growth phase with existing players trying to step up and develop higher value products as well as new entrants trying to launch their first modern senior living ventures. While most of these projects in the market are still being delivered by traditional real estate developers, there are instances where non-real estate players have started venturing into this sector. The market currently has a well developed senior home care segment as well as specialists who directly provide clinical and non-clinical services to seniors in their own homes.

A typical day at Antara starts with waking up to the picturesque view of Mussourie, a morning walk on a jogging trail, followed by yoga / meditation

New projects are being set up with a size of 300-400 units to achieve better operational efficiency as opposed to early communities which were mostly restricted to a size of 100-200 units. With the idea gradually gaining popularity among seniors, the average price point has also witnessed an upward trend with a new breed of senior living projects targeting a price segment of ₹ 55 lakh as opposed to earlier projects in the price range of ₹ 25 lakh.

While most of the projects continue to be in the southern part of India, there are new projects which are coming up in East and North India as well. Currently, there are a total of 50 players in the Indian senior living industry, out of which 15 are established players. As per a recent study done by JLL, by 2025, there shall be approximately 4,50,000 houses in the senior sector and 10,00,000 seniors would be touched by the idea of enjoying their lives in such retirement homes. These habitats aim to provide our senior citizens with an environment where choice of food, comfort, safety, right medical care and recreation is of the highest quality. Hence, they would feel well looked after and happy, perhaps in the last phase of their journey. After all, they deserve this and so much more.

Outlook for FY 2018-19

Over the course of FY 2018-19, Antara’s focus will be two-fold:

  1. Antara Dehradun:

    • To achieve financial sustainability for Community Operations by building operational efficiencies and attracting footfall to create additional revenues.

    • The Company will continue to build its brand positioning and product awareness amongst the target customers through sales and marketing initiatives, events and activities at the Community premises to generate leads and client acquisition.

  2. Growth Initiatives: To identify low risk capital, light opportunities based on Operator’s model in Delhi NCR and Mohali region.