Mukund Deogaonkar on the trends & innovations powering prop tech industry

In conversation with Adgully, Mukund Deogaonkar, Director – India Operations, Planet Smart City, speaks about strategy to revolutionise urban living by supporting security, sustainability, inclusion, and innovation. He sheds light on the inception of global prop tech company Planet Smart City in Italy, its foray into the Indian market, marketing strategies, and much more.

How has the journey of Planet Smart City been so far?

Planet Smart City is a global prop tech company that was founded in Italy by two entrepreneurs – Giovanni Savio and Susana Marchionni – in 2015. We are now headquartered in London with offices in Italy, Brazil, India, and USA. We also have plans to expand to Colombia by the end of this year. We started our first commercial project with a 700 acre land parcel in Laguna, Sierra in the north part of Brazil.

In India, we have we three business units – real estate, advisory, and resident interface. We have a strong hold in Pune currently where we have partnered in Kolte-Patil for 3 projects in the city. Our first real estate project – Universe, part of Life Republic township by KPDL, was launched in December 2020. Our second business unit – Advisory, is where we bring in Planet SIM (Smart Infrastructure Management) to these societies. This was first commercialized in December 2022. Our third business unit is our resident interface. We develop, design, build and sell large scale residential housing projects and stay within the project through our digital platform Planet App which is the resident interface. Through the Planet App, our community managers bring in the social innovation solution. We deploy these community managers to interact with the residents and help them with the adoption of the app.

What are the trends observed in the prop tech industry?

Developers and residential societies are now keen on adopting tech solutions into their developments. Homeowners are seeking comprehensive living experiences in housing societies, going beyond basic accommodation. Integrating smart technologies in common spaces provides convenience and efficiency, from energy-saving systems to automated water and lighting. There are a lot of innovations and advancements to the industry as well. For instance, our Planet SIM empowers communities with an IoT-driven user-friendly water management system that detects leaks and conserves water which leads to significant savings. We see an upward trend of home owners, residential societies, developers being more environmentally conscious today and opting to incorporate technology that reduces water and energy consumption.

What are the major milestones achieved in the journey of Planet Smart City so far?

Pune is our home ground in India. We have 3 real estate projects with Kolte-Patil Developers, while our digital business unit, Planet SIM, has been implemented in over 60 societies. Pune faces a persistent water crisis spurred by urbanization and limited water supplies. Since we first commercialised Planet SIM in December 2022, we have helped manage more than 1 billion litres of water across 15,000+ households in Pune. Planet SIM collected the data from the 60 societies to understand consumption patterns and identify anomalies to trigger corrective action. This has resulted in 20% - 25% reduction in water consumption within these societies. By leveraging these advanced analytics and real-time data insights, we empower communities to make informed decisions about their resource consumption. Through this platform we are able to provide practical, tech-driven solutions that not only address immediate concerns but also contribute to sustainable urban living.

On the real estate front, we are on the very last leg of completion for our first project in India - Universe in collaboration with Kolte-Patil Developers. This project is spread across 10 acres and offers commercial and residential spaces.

What are the future growth and expansion plans of Planet Smart City?

We continue our focus on expanding our services to large number of societies in Pune and will be expanding to Bangalore in the first phase. We already have a few customers testing our services in Bangalore.

What are the major innovations in the prop tech industry in the recent years?

AI and ML solutions, that aim to generate data-driven insights for predictive maintenance and smoother operations help save time and money, are the biggest innovations. Apart from real-time water management, the one innovation we have also brought in is that most residential societies’ water management activities require numerous staff members, however, with Planet SIM it can be easily managed remotely by one single person, and the additional resources can be deployed in more meaningful activities.

What are the challenges facing the prop tech industry right now?

The smart home sector in India still holds immense scope for growth and expansion. This is possible with awareness and education among consumers about the benefits, functionalities, and long-term cost savings of these innovations. Affordability is another challenge; however, at Planet Smart City, we have brought down the cost of these products and services, making them more accessible to aspirational homebuyers, RWAs, and housing societies that are looking to upgrade their infrastructure.

Furthermore, a significant ongoing challenge for homeowners is the issue of cybersecurity. Consumers remain sceptical about the potential misuse of sensitive data and personal information. Lastly, the costs associated with integrating Property Technology and smart solutions, if not meticulously planned, can pose considerable financial constraints, especially for smaller societies and residential complexes. Overcoming these challenges requires collaborative efforts from real estate developers, technology providers, policymakers, RWAs and housing societies to create a conducive environment for the widespread adoption of smart home technologies.

What is the marketing strategy of Planet Smart City?

As a brand, Planet Smart City stands for socially connected, sustainable and inclusive urban living. As urban living gets democratised through aspirational and affordable housing, we intend to play a significant role to modernise through cutting edge tech and social innovation solutions.

For the existing communities, our focus is making as many societies aware of the fact that they don’t need to live with water anxiety and bloated maintenance costs. With tech and intuitive interventions, they can manage basic infrastructure within a community in a smart way.

We focus on taking this message to the stake holders and residents with a 360 degree approach. While the awareness is created with digital channels, we also participate in expos to share the same message.

What are the marketing activities undertaken by Planet Smart City this year?

Awareness campaigns on social media about the brand and what we stand for
Participation in society expos
Recommendations from existing communities about our products and services

What is the brand vision of Planet Smart City?

Our brand mission is profoundly founded on the desire to revolutionise urban living by supporting security, sustainability, inclusion, and innovation. We envisage thriving communities that seamlessly integrate cutting-edge technology with smart social innovation.

Our dedication extends beyond creating structures; we are committed to designing places that transcend traditional limits. The goal is to build intelligent, people-centered places where inhabitants may thrive, connected not only physically but also via a shared sense of well-being and community.

We recognise the importance of technology in improving lives in the digital age. As a result, our brand goal entails utilising Proptech technologies to reinvent real estate development. We want to be the first to integrate smart, scalable, and repeatable forms that meet the core requirements of families worldwide. Our dedication to R&D emphasises our forward-thinking strategy, ensuring that we remain at the forefront of innovation.