According to Shankar, who appeared on Mint’s show Brick by Byte anchored by real estate editor Vandana Ramnani, the accelerator was initiated at a time when the Indian real estate sector was not actively investing in technology. “Most real estate companies spend less than 1% of their top line on technology. That includes hardware, software licenses—everything,” she said.
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Areas of Focus
Start-ups working with REAP have addressed a variety of operational and infrastructure-related challenges. These include:
- Smart water management systems to detect leakages and enable consumption tracking
- Indoor air quality monitoring and purification using real-time data
- Sensor-based lighting systems and contactless access for office environments
- Retail optimisation using behavioural analytics to improve tenant mix and customer experience
- Sewage treatment systems that operate without chemicals or electricity
Approximately 40% of the start-ups that have gone through the REAP program have raised follow-on funding, Shankar noted.
Earth Fund: Expanding the Investment Strategy
To address the needs of later-stage start-ups that have outgrown the accelerator model, Brigade Group established Earth Fund, an investment vertical focused on scalable and sustainable technologies. Unlike REAP, which provides acceleration and mentorship, Earth Fund is positioned as an investment initiative targeting companies that can integrate with Brigade’s core operations or contribute to broader smart city and sustainability goals.
Shankar said Earth Fund allows the company to participate more meaningfully in the growth of solutions that have already demonstrated product-market fit and operational viability.
Construction-Site Technology and Policy Considerations
While several areas of real estate operations have seen increased adoption of technology—particularly in sales, leasing, and customer experience—Shankar observed that the core construction process has not evolved at the same pace. The majority of on-site workflows remain manual, and there is limited automation in the physical building process.
She highlighted a gap in innovation targeted specifically at the construction site, despite it employing the majority of the real estate workforce. According to her, tools that improve labor productivity, project speed, and efficiency are critical but still underdeveloped in the Indian context.
Shankar also noted the importance of policy support in driving adoption of sustainable building technologies. She pointed to mechanisms such as green credits, concessional financing for certified projects, and incentives for resource efficiency as potential enablers for broader adoption.
Professional Background and Approach
Shankar is a second-generation executive at Brigade Group and oversees multiple business verticals. She is involved in land acquisition, project feasibility, and operational execution. She emphasised that her role is not limited to a single function and that she participates directly in project negotiations and strategic planning.
She also spoke about the internal structure of the company, noting that Brigade is building capabilities not only in real estate development but also in innovation and sustainability through structured programs like REAP and Earth Fund.
Outside of her professional responsibilities, Shankar maintains an interest in fitness and endurance sports. She also engages in strategic games such as poker, which she described as helpful in decision-making and situational analysis.
Disclaimer: Mint Brick by Byte is an editorial series in partnership with Nucleus Office Parks.
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