Even as discussions continue around the life and legacy of Confident Group founder CJ Roy, a resurfaced podcast clip has renewed attention on one of the most striking examples of foresight in India’s real estate history his early land investment in Bengaluru.
The clip, taken from the podcast Editoreal, has been widely shared on social media following Roy’s passing. In it, Roy is asked about comparisons being drawn between him and Rangannan, the real-estate baron portrayed by Fahadh Faasil in the Malayalam film Aavesham. In the movie, Rangannan is credited with having owned land in what later became the Bengaluru airport zone an anecdote that symbolises long-term vision and speculative courage. Roy clarified that he had no knowledge of the character being inspired by him and said no one from the film’s team had ever contacted him. However, he acknowledged that the broader storyline felt familiar. While the film places its fictional land investment in Devanahalli, Roy said his own defining real estate bet was made in Sarjapura in 2001 an area that was then considered remote, underdeveloped and largely barren. “At that time, nobody believed in Sarjapura,” Roy said in the podcast. “I bought land for about Rs 5–6 lakh per cent.”
More than two decades later, Roy claimed that the same land is now valued at nearly Rs 12 crore per cent, translating into an extraordinary return that has since become emblematic of his approach to real estate patient capital, long-term conviction and contrarian thinking. Roy often described Confident Group as a zero-debt enterprise, a rarity in India’s highly leveraged real estate sector. Under his leadership, the group expanded beyond property development into hospitality, entertainment, education, retail, golfing, international trading and film production. In recent years, Roy said the company had increasingly adopted a joint development model, contributing land while partnering developers handled construction and execution. The approach allowed the group to scale projects while limiting balance-sheet risk, aligning with Roy’s aversion to debt-fuelled growth. Outside business, Roy was known for his eclectic personality. He was a trained magician, a luxury car collector and a film producer who often stepped in to support stalled projects. He also sponsored multiple television shows and cultural initiatives. In the same podcast, Roy spoke candidly about his outlook on life and mortality. In a remark that has since gone viral, he said that even if the pilot of his private aircraft announced an imminent crash, he would not panic but dance to dappankuthu, reflecting his philosophy of celebrating life rather than fearing death.
Roy described himself as someone who lived with a sense of completion, believing he had achieved everything he set out to do a mindset that, much like his Sarjapura land bet, continues to define how he is remembered.
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CJ Roy’s Sarjapura land call: The real estate bet that delivered a 12-crore-per-cent return
