Says Prakash Saxena (name changed), a 2008 Indian Institute of Management (IIM) Calcutta student who works with a real estate developer: "What attracted me was the exposure I would get, since there is a boom in real estate market. And if it doesn't work out, then there is always a fall-back option."

The real estate firms have sold promising careers to the students by offering competitive compensation packages. They usually hire students with prior work experience so that within two years they are ready to hold fairly senior posts.

"Even with prior work experience, I wasn't getting a job in the middle management at any other firm," says Atul Sharma (name changed) another IIM graduate. The compensation offered by these firms are upwards of Rs 12 lakh per annum.

Lodha, one of the highest paying companies on campuses made offers approximately in the range of Rs 16 lakh per annum.
Apart from professionalising, these companies have felt a need to keep pace with growth and build organisational capabilities. Unitech has roped in McKinsey to conduct a study to on the balanced ratio between professional and family work force.

Says Unitech general manager of corporate planning, R Nagaraju: "Although family continues to handle board level positions, senior strategic positions were taken by professionals. There is a higher level of delegation now at the professional level." Unitech hired around 15 students from IIMs and ISB this year. This number was similar to last years.

Having had an experience with the Indian real estate majors, B-schools are now looking at luring foreign real estate companies. Many are looking at real estate companies based in Dubai and Singapore as potential recruiters. Some are already strengthening ties with existing players.