The Hindu Business Line : Maytas Properties gets 4 quality certificates

Maytas Properties, Hyderabad-based realty company, has said that it has become the first property development company in the world to get four international quality standards in one go.

The global certifying authority TUV Nord, Germany, has certified Maytas Properties for the ISO 9001, ISO 14001, OHSAS 18001 and SA 8000.

These certificates demonstrate the company’s commitment to environment, product quality, safety and occupational health of our associates, said Mr K. Thiagarajan, CEO of Maytas Properties, a company promoted by the founders of Satyam Computers.

Maytas Properties, which has invested up to Rs 300 crore in developing 3 million sq. ft. around Hyderabad, has projects in the pipeline to complete 25 milion sq. ft. by 2010. It is into residential townships, commercial buildings, retail infrastructure, hotels and SEZs (Special Economic Zones), explained Mr Thiagarajan.

While refraining from divulging financial information or whether any private equity fund or strategic partner has been finalised in developing projects, Mr Thiagarajan said about five-six big projects were coming up, of these three were SEZs around Hyderabad.

The company is also foraying into Chennai, Bangalore and other cities in a phased manner, with a goal of emerging among the top three property developers in the country by 2010, he told newspersons.

The Managing Director of TUV India, Mr Anil Rairikar, who handed over the certificates to Maytas said it was rare for a property developer to go through all the certifications, more so in the social accountability area.

Currently, in India, about eight major property developers were getting certifications in piecemeal. Across sectors, TUV has certified nearly 4,500 companies with various quality certifications, Mr Rairikar said.

He felt that the construction industry, which generates the highest employment, also puts big stress on the environment and quality of life of people. Therefore, quality certifications to ensure their concern for environment and safety are mandatory.

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