As someone who went back to his roots and entered the world of business, Parind Nachinolcar has made a mark for himself in the business of motorbikes and car retail as well as in the realty business. He spoke to Ajit John about his plans and the challenges involved in doing business in the state.
Herald: Why did you get into business when you could have followed in the steps of your father and become a doctor?
Parind Nachinolcar: While my father is a doctor, an orthopaedic surgeon, my grandfather was in fact in business. He was a dealer for Lambretta and Honda prior to 1961. My father’s generation however were all professionals. He was a doctor, my uncle was an engineer. I however always had this passion to do something. It was like this worm within me that would keep reminding me that I would be happy doing business. I am an engineer by education. I wanted to generate employment, earn money , create things. My father is a different person. He is a doctor and one has to be selfless when one is a doctor. One cannot be money minded and there has to be a social outlook. The level of responsibility when one is a doctor is unbelievable. One is essentially responsible for someone’s life. He works at night. I on the other hand deals in cars. Once it is sold that’s it. I had the fire to start it and take it forward. I hope it is there forty years down the line. I want to go ahead and build more.
Herald: When did you first start your business?
PN: I worked for a year in Mumbai, it was tough but it was also a lot of fun and then in 2004 I returned. We had land and I decided to build a building with six flats in Talegoa. It was really very tough. Called Paris Primero, it took me 11 months to get my papers cleared. That is the problem in Goa. They don’t want new guys coming into the business. It is the bus mentality. Whosoever is in the bus is happy with their position and don’t want new people to step on board cause it will mean they will have to adjust to changing conditions.
I remember a bureaucrat saying that this experience would teach me a lot and that I would know how to handle it better the next time I would be faced with such situations. And yes I did.
Herald: What did you do after that?
PN: I made money from the sale of the flats and since I had an affinity to automobiles I decided to get into the dealership business. I committed a cardinal error by taking up the dealership of an automobile company based in Western India. Faced against international competition, specifically Honda, I failed. I lost all my money and I was back to ground zero. This was around 2006 end. My brother had completed his education and he joined me. We had another plot of land and since I had learned the tricks of the trade I went back into construction. I caught the boom in the realty business. The property sold out in two months in Talegoa. I was back.
Herald: How did Skoda happen?
PN: I received an offer from Skoda in 2008. Those days they were selling 4 cars a month in the state. In the fisrt month I sold 8 cars and it kept increasing. Today on an average we sell 40 cars a month. Prospective customers walk in and we talk to corporates. We get inquiries online from people which we then try to convert to sales. It is a tough battle in this market and in Goa let me tell you it is important that the owner be present at the outlet to handle queries too. Immediate decisions have to be taken. Everyday is fire-fighting.
Herald: What are the various arms of your business group?
PN: The Skoda dealership, Honda dealership, private construction company and contracts for GSIDC. Oh yes, we also have a restaurant called Swadik. My brother handles the construction business. There is a divide in the chain of command to ensure that one of us will be the sole voice in that business though both of us interact continuously and discuss the business.
Herald: What next in the construction business?
PN: We had properties in Talegoan, Santacruz and Merces and we purchased property in other places. We have one in Kadamba plateau. The depression in the market is a state of mind. We need to look for business. Nothing is permanent. There are a lot of opportunities in Goa. Need people to be open minded for industry to come in. We have fish and fruit here but no processing of it. Why, we need to ask these questions.
Herald: What do you think needs to be done?
PN: The investment policy is a good step but one has to also look at the problems faced by existing players. Policies have to be framed to encourage business. Today we have to comepte with Bengal, Chattisgarh which promote themselves. What are we doing? We have a port, an airport and a railway staion which then begs the question why are we not a logistics hub. You cannot drive people away and get prosperous.
Herald: What are your future plans?
PN: Our turnover is between Rs 60-70 crore, we want to take it past Rs 100 crore. I want to get into the electronics space. With all those apps now in the market, I want a piece of that cake.
