Mr. Atul Ruia was born to be a prodigy in the Indian Retail Industry. He is the Chairman of The Phoenix Mills Limited which is one of the leading retail led real estate companies in India. The company has established its presence in 7 major cities with different kinds of projects such as residential projects, hospitality projects, commercial projects, and retail projects.
It is said that” Our hardest times often lead to our greatest moments of life.” Atul’s story can be related to this saying, his father Mr. Ashok Kumar headed Phoenix in the 90s, he was a textile tycoon back then but due to the continuation of textile workers strike for a long time and increase in the cost of operating a mill inside the city, led to the business dissolution. But this was not the end of The Phoenix Mills Ltd, a decade later, Atul reconstructed the mill into a mall “High Street Phoenix” which is one of the Mumbai’s first mall. This transformation of the mill into a mall drove Atul’s name into the Forbes Billionaires List for the first time.
When it comes to retail business Atul has his own ways and understanding, his business models are unique and not easy as many competitors of Phoenix have tried to copy his models but almost failed. In 2010 Phoenix realized Rs 100 Cr in sales which were really good for the commercial complexes of the country. Atul has a rare skill in managing numbers of retail outlets and gains more value from the same land. He established this mall and looked out for rentals who wanted large space, he managed to tug well-known brands like Big Bazaar and McDonald’s and soon Phoenix became a hangout spot for families on weekends.
Atul has worked on several projects starting with Market City Project in Kurla which is a thickly populated area, this project was sort of clone of property in Central Mumbai, another project was Palladium, Mumbai it’s a mall of luxurious brands where Atul managed to obtain 85% occupancy rates, One Bangalore West which is luxurious residential apartment and recently Phoenix launched Kessaku which is ultra-luxurious residential apartment with world class facilities and amenities. Atul is an alumnus of The Wharton School of the University of Pennsylvania.
Under Atul’s leadership, Phoenix Mills Limited grew into leading retail led real estate companies in India, his leadership skills are commendable.