Group Satellite was founded in 1971 by Mr. Pankaj Shah, a man widely revered and respected in the Mumbai business community. The company was quick to recognize the tremendous potential of real estate in Mumbai and in that same year completed its first project, in Chembur.
Much of Satellite’s success during this early period can be attributed to its commitment to a customer-centric approach and reputation for honesty and integrity in its dealings. Consequently for the next 37 years with Mr. Pankaj Shah at the helm, Group Satellite emerged as one of Mumbai’s most successful real estate developers.
In 2008 the company suffered the tragic loss of its founder Mr. Pankaj Shah in the 26/11/2008 terrorist attacks on Mumbai. As a result, Mr. Sarjan P Shah and Mrs. Kalpana P Shah took on the roles of Managing Director and Chairperson respectively.
Despite this tragedy, the company has proved to be resilient and remained committed to the principles of its founder. In the aftermath of 2008 the senior management of the company has remained the same, the company has continued to meet all of its obligations and has continued to forge ahead with new projects.
The fact that since 2008, Group Satellite has created real estate worth 17.45 bn. (present market value) bears testament to the fact that Group Satellite is continuing to grow and evolve.