HYDERABAD: He may have been born with a golden spoon, lives in a palace, travels the world and has an envious collection of Mont Blancs and Rolexes. But at the end of the day, Nawab Mir Nasir Ali Khan is a man who dresses only in cotton and loves a filling portion of the humble khatti daal with rice. Breaking out of the traditional aristocratic life, he is the first in his family to run a business. While the man has a mind of his own and lives life on his terms, he believes that nothing trumps relationships, not even business. CE caught up with the 57-year-old real estate baron at his 20,000-sft residence, Xanadu, in Jubilee Hills. Nasir speaks about his journey as a businessman, how he became the Honorary Consul of Kazakhstan for TS & AP, and being the first-mover in the sustainability housing sector
How was it growing up in the lap of luxury?
I was lucky to be born in an aristocratic family. I was born in a palace — eight acres, 40,000 sft and 17 bedrooms. It was a very luxurious house, but we lived a normal, simple life. My parents were very ruly. They used to tell us that you are born with privileges, but you have to be responsible, humble and firm. We were taught to look after the less fortunate too. The only difference, according to my mother, between them and us, was money. They are as good or as bad as we are. We also spent a lot of our time playing outdoors. The only rule was to return home before it gets dark. Unfortunately, today’s kids spend very little time outdoors.
How was it to be homeschooled?
It was a trend back then. Even now, homeschooling is big in the US. Those days, it was a preferred format of education as teachers could give more attention to children. When we were young, we had one teacher for all subjects. As we grew up, we had different teachers for languages and other subjects.
You are the first businessman in your family. How did that happen?
I always wanted to be in business. Since I am from a noble family, nobody did business. There were reservations, my mother used to tell me to be cautious, don’t borrow too much, be conservative. That’s what I am — I am very conservative, I don’t believe in over-borrowing. God has been kind, we have been very successful. If you are more aggressive and borrow a lot, the risks are definitely higher. But more the risks, more the money. Business is a risk, but I believe in maintaining a good balance.
Who taught you the ropes of business?
I had a friend, philosopher and guide — Harishchandra Reddy — but he is no more. He used to be the chairman of Green Park Hotels. He built an empire, but was also conservative. He was a successful businessman — not in terms of the turnover or profits, but they way he did business. He was my inspiration. I miss him. When I was just starting off, he used to say be careful about whom you trust. This comes with experience, it’s an instinct. I have made my share of mistakes, trusted the wrong people and I have learnt well.
How did you become a diplomat?
I have always been interested in international relations and diplomacy. I wanted to be a diplomat and love being one; the advantage is you get to meet people from different countries. Even before I could become the Honorary Consul, I had a lot of good friends in the US Embassy, Turkish Consulate and the British High Commission. I saw how they could help people globally. I wanted to do the same, it’s very satisfying. My assignment was confirmed by the Central government on January 20 and it is for four years. Kazakhstan is a beautiful country, it is the ninth largest in the world with a small population of 90 million.
Your mantra for success?
Sincerity, hardwork and dedication. Commitment and consistency are also important. Commitment will take you to the start line, but consistency will take you to the finish line. I also surround myself with positive people, I am scared of negative people and their company. You cannot be successful on your own; it takes a village. You need to accept the fact that you need the support of your friends, family and relatives to be successful. I owe my success to a lot of people. But when you fail, it’s only because of you.
Do you believe in luck?
I always wanted to do something in life. I worked hard for it, but I have also been very lucky. The harder you work, the luckier you get. But at the same time, it is important to be at the right place at the right time.
You have great style. Tell us more about it.
I was inspired by my father. I am very much like him. He had taste for all the good things — good house, good cars, accessories. I love cars, watches and pens. I am very loyal to three brands — Rolex, Mont Blanc, Mercedes. I always tell my kids this: in life, accha raho, accha khao, accha pehno.
What’s next for you?
We are getting into sustainable housing in a joint venture with the Forest Innovation Investment (FII) which is the crown agency of the British Columbia government in Canada. I’m the first-mover in India when it comes to wood and sustainable housing. FII is supporting the project, which is coming up at BTR Greens in Maheshwaram on the Srisailam highway. Sustainable development is a $50 billion industry in India.
Aren’t you worried about the risks that come with being a first-mover?
The risks are not many, but there are disadvantages. When you venture into a new area, you have to depend a lot on imports — right from the material to manpower. That’s expensive and time-consuming. But these are short-term disadvantages.
Highest and lowest points of your life?
I tried to diversify into information technology. I was inspired by the success stories of Infosys, TCS and Wipro. But I got into the business at the wrong time — it was in 2000, the 9/11 attacks happened and everything changed. The dotcom boom turned into dotcom bust. I lost a lot of money, but more than that, I lost five years. In 2005, I realised that the business was beyond repair. I think I lacked the domain knowledge and experience. That was the lowest point of my life, it was very depressing. Many people wrote me off, they said I was finished. But the beauty of failure is you know who your friends are; you can count them on your fingers. I always believed that I will bounce back, and I did. I returned to real estate and started MAK Projects. Ever since, life has been full of highs.
Know the Nawab:
Your Favourite food?
Sushi is my favourite. But at the end of the day, I’m a rice-eating South Indian. Give me khatti daal and rice, I am happy
What keeps you awake at night?
Sometimes, when I am excited about an idea, I can’t sleep. There have been times, when I am jotting down an idea at 3 am. This happened when I was newly married (laughs). I am extremely passionate about my ideas
Your hobbies/passions?
Before I got busy with business, music was my first love. Music is food for the soul. My favourite bands are Air Supply and Foreigner from the 80s. I like Jagjit Singh’s ghazals. I also love to drive
What annoys you the most?
Imperfection, inefficiency and mediocrity. I’m a tough but caring boss. I cannot tolerate the chalta hai attitude
How does it feel to have the title of ‘Nawab’ in today’s day and age?
Earlier, I was very conscious of using the title. When I was a pure businessman, I never used ‘Nawab’ in my name. Today, because of the diplomatic assignment that I’m part of, I have started using it