Public Relations has entered a bold new era. No longer just a back-office function, it has transformed into a strategic powerhouse shaping brand reputation and influence. Companies and leaders now see PR not as an afterthought, but as an essential force driving credibility, trust, and long-term success. The industry has undergone a radical shift with the rise of social media, fundamentally transforming PR strategies. Influencers now play a crucial role in shaping consumer perceptions and engagement. PR is no longer confined to securing media visibility; it has expanded into a dynamic, results-driven discipline focused on meaningful interactions and measurable outcomes. With a younger, more digitally savvy audience emerging, PR professionals face new challenges. Brands and practitioners must be more agile, data-driven, and proactive in crafting business solutions that resonate with their audience. The future of PR lies in adaptability, authenticity, and strategic storytelling that build lasting trust and impact. In our exclusive weekly column, PR Conversation, Adgully interacts with leading business leaders to gain their exclusive views and insights on various trends in the PR and communications industry. In conversation with Adgully, Samir Shah, Founder & Chairman, Strategic Growth Advisors (SGA), speaks about his entrepreneurial journey from corporate finance to building India’s leading Investor Relations consulting firm. Shah shares insights on the evolution of IR and PR in India, the growing importance of narrative building in financial communication, and how SGA’s integrated approach is adding value to corporates across sectors. He also reflects on the changing dynamics of retail investors from Tier 2 and 3 cities, his advice for young professionals, and his long-term vision of positioning SGA as a one-stop consultancy powerhouse. From corporate finance to leading India’s largest IR consulting firm, what inspired your journey to establish SGA? What was the gap you identified in the Indian market back then? It all started in 2010, I was45 years old with a work experience of over 22 years. I decided to take the entrepreneurial plunge. Having closely worked with promoters in my previous stints I had an advantage of closely watching how promoters build and ran businesses. It also developed both my character and skills. At that stage of my career, when I finally took the ‘bold call’ to pursue entrepreneurship, failure was not an option; I knew that I HAD TO SUCCEED! Back then, the Indian economy was around $1.50 trillion with many corporates eyeing a listing on foreign stock exchanges like Nasdaq, LSE, NYSE, AIM, etc. At that time, investor relations was still evolving in India and I saw the need for trust-based, insight-led communication that could help companies bridge the gap with stakeholders. I believed that India’s growing economy and its opportunities would reflect in the capital markets, and that investor relations consulting would become a crucial function in years to come. Drawing from my experience of managing the IR department of Suzlon and being part of its growth journey, from an initial PE fund raise of $50 million to a listing at $3.5 billion, I was confident that small and mid-cap companies in India could benefit from IR advisory support. I had a strong view that over the next 15-20 years, India will do what China did in 1990s and 2000s and we will be an economic force to reckon with over the next two decades. This was impossible without the growth of equity markets. This firm belief was the starting point for SGA. SGA has advised corporates with a cumulative market value of over $100 billion. What do you believe has been the core differentiator behind this trust and long-standing success? We are in consulting business, where only two things matter – People and Clients. Our people-first and client-first approach are our key differentiators. We invest in identifying and hiring top-notch talent and then groom them through continuous learning and skill development initiatives. Retaining people is one of the biggest priorities for the senior management. We believe in building a team that shares common value system and drives continuous excellence. We have built a culture that is inherently inclusive, free from biases and merit oriented. We continuously keep investing time, energy and efforts to make SGA a people’s place to grow. We have been “Great Place to Work” certified for the third time in a row. SGA advises corporates of different sizes, in different sectors with their own unique challenges and opportunities. A one-size-fits-all approach will tend to fail and hence customisation is the key. It is very important that as a consultant, we should be well-versed with the finer nuances of the business of the client and also practical aspects of market which will equip us to provide tailored solutions to every client. The ultimate goal of all our services is to add value in the client’s overall growth strategy. We developed excellent relationship with the client which results in a long-term association. 40% of our clients have been with us for over 5 years which demonstrates our contribution as a partner to the client. We added more services at SGA which help the client get intra-related communications services through a single partner. The role of IR and corporate communication has drastically evolved in the last decade. How do you see the role of investor relations shaping up in the next five years? The success of a communications program is now measured from the lens of Value Creation. The role of Investor relations will further evolve in our view. It will be a collaborative approach with more stakeholders, including business heads, corporate communication and compliance teams. Investor relations will play a central role for everything that corporate engages for with capital markets whether its capital raise, product launch, compliance reports (like BRSR and integrated reports), M&A and corporate communication. The investor relations role will help Corporates to sharpen and refine their business strategy via continuous engagement with capital markets to unlock value for them. Being market leaders in IR what led you to do integrate and venture into PR and Brand & Design? Our decision to integrate PR and Brand & Design practices was a well-thought-out strategy to offer more value to our clients across their business life cycle. Today, we are the only consultancy in the country that offers such integrated services wherein client communications are taken care of from its early age to maturity and eventually to IPO, post listing through our basket of PR, IR and Brand & Design offerings. As the Indian market develops and economy grows and more companies opt for IPO, we believe our unique expertise will augur well both for us as well as our clients. Moreover, by unifying IR with PR and branding under one roof, we provide clients with cohesive strategies, sharper storytelling and a single unified voice that resonates with diverse audiences viz., consumers, investors, employees and other stakeholders. Integrated practice helps clients get the best outcomes as SGA has a numbers-led thought process as its DNA for client servicing. How important is narrative building in today’s financial communication? Do you believe Indian corporates are embracing storytelling as much as global peers? Financial communication is as much about performance as it is about perception. And having a strong narrative that conveys the story behind performance helps in creating that perception besides building confidence among capital market participants. And this is what reflects in valuations. Thus, a perfect blend of IR and PR along with consistency, clarity and delivery (in terms of performance) will help market trust the narrative and reward the corporate with assigning fair valuation. Indian corporates have warmed up to storytelling and have come out of their cocoon to share their business fundamentals, strategy, leadership styles, experiences in business, their learnings, struggles and many such topics. This has reflected in the growth of the market capitalisation of over $4 trillion with over 6,000+ listed companies and many more aspiring listing. Could you talk about how you have added value to clients in PR? Please share some examples. Our key differentiator lies in the fact that in our endeavour to create value for our clients, we do not just chase coverages but instead we focus in building a strong brand IP that will gradually drive overall conversation at an industry level. Our craft lies in not just delivering headlines but driving growth focused business consulting, narrative driven storytelling that ultimately creates sustainable business impact. For example, for a B2B client, we have gone beyond traditional PR activities to recommend and execute stakeholder engagement program which were closely linked to business growth objectives. We strategized and executed ‘micro-market strategy’ for one of our long standing B2B Fintech clients. The client appreciated our role in the subsequent substantial business growth from those markets. We believe our integrated approach enables us to look at information from varied perspectives resulting in an incisive output as strategies that can be employed for the client. Measurable outcomes for clients in terms of Value Creation is the objective for our PR practice. Tier 2 and Tier 3 cities are seeing a boom in retail investors. How are PR-IR strategies evolving to cater to this new and growing investor class? The smaller cities and towns in India have for long remained away from mainstream conversations and capital markets. As the divide between the urban, semi-urban and rural areas are getting blurred through technology and digitization, the participation from these markets are rising. We have professionally run IR and PR practises, for a client, wherein our aim is to create shareholder value along with positive brand reputation. This can only be possible when both IR and PR are seamlessly integrated, and strategies are designed with a common objective. Both our PR and IR strategies focus on creating enough awareness about the clients’ business growth and its future potential among these retail shareholder clusters so that they are able to make informed decisions and participate in the growth of the India’s capital markets. What is your advice to young professionals or entrepreneurs looking to make a mark in the new age communication industry? My advice to budding entrepreneurs will be – do not start something for the sake of it; just because that’s the trend. Money will get scarce, and ideas will be quickly replicated; think long term and a unique business model. Always invest your time, energy, and money in something you believe in. Focus on creating a long-term, unique model which is sustainable and differential in nature. Also, success is never a destination but a journey. It is an ever-changing goalpost. One should focus on the journey of capturing milestones which is a true determinant of success. The key to success for young professionals to enhance growth is Knowledge and Maturity. Consulting is a combination of Art and Science. Data is science and can be captured by AI, but the feel of the market is extremely different and so one needs to have the maturity of understanding the ‘Direction of Wind’ as we say in Hindi ‘Hawa ka Rukh’. These youngsters have to learn and mature early to make a mark in their consulting role. We are building the firm with ‘Youngsters’. The average age of our professionals is between 25 and 30 years. We are investing a lot of time and effort training youngsters to make them relevant in the business of consulting entrepreneurs. How has been the growth in the PR business over the last 2-3 years? Any good campaign that you have rolled out and which has created an impact on client’s business? The PR business has grown exceptionally well in the last couple of years. We are a perfect blend of industry veterans, leading the practice with an ever-growing team of enthusiastic and eager-to-learn youngsters. In a short span, we have grown into a team of over 60 people spread across several cities, including Mumbai, Delhi, Bangalore, Ahmedabad, among others. We have a strong portfolio of clients from several sectors such as mutual funds, housing finance, fintech, wealthtech, real estate, pharma, chemicals, green energy, healthtech, education, textile, automobile, industry body, etc., and have been delivering value for all of them. We have just begun and are very excited to grow further in our journey. We have recently ventured into fully integrated IPO services right from SME IPO, Mainboard IPO and SME to Mainboard transition. Owing to our significant expertise in capital markets through our IR practice, we believe that SGA PR is uniquely placed in the industry both in terms of understanding and execution capabilities to deliver exceptional results for companies eyeing capital market listing. Going forward, what is your vision for SGA group overall and also about the two new practises – PR and B&D? SGA aims to be “THE ONE” brand that offers exceptional quality, varied service offerings, and culture. We aim to be a place known for best-in-class client servicing and extra ordinary performance by team members to deliver exceptional value to the clients. The vision is to continuously add newer practices that help to create value for clients and offer a single point consulting for all their business needs, from finance to communication to creative services. The ultimate goal is to establish SGA as a standout brand in the crowded consultancy industry.
