Enter a new house in Srinagar, Baramulla, or Anantnag and Havells greets you at every turn. Switchboards flash on spotless walls, ceiling fans whirl with silent force, and wires pulse like the unseen veins of modern Kashmir.

Kashmiris stick to the brand almost like a ritual, whether it's a wedding, a new house, or a simple repair job. Lakhs of rupees flow out of our pockets into this network of copper and glass.

Our homes are brighter, and appliances more efficient. But the real light is falling elsewhere: on Havells' balance sheets and its patient shareholders.

The numbers tell a startling story.

A single ₹1.89 investment in Havells in 2001 would today be worth more than ₹16 crore.

While we light up our living rooms, those who bought and held the company's stock have been lighting up their portfolios.

This is not an argument for buying Havells shares. It is a wake-up call about the way we Kashmiris handle money.

Kashmiri families pour savings into bigger houses, grander halls, and the latest electrical fashions. Traders and distributors promote advanced systems, like remote-controlled switches, designer fittings, and are proud of modern look they bring.

Even then, most of us remain consumers in the narrowest sense. We spend with enthusiasm, but we rarely invest with intent.

Deepak Parikh, the noted banker, offers a piece of advice worth repeating in our context: the cost of a home should not exceed five times a family's annual income.

If a household earns ₹20 lakh a year, the house should ideally cost no more than ₹1 crore. The principle applies to every major expense.

Consumption means buying things that lose value the moment they are installed. Investment means putting money into assets that grow over time.

Our parents knew this instinctively. In earlier decades, land appreciated while the buildings on it decayed. A simple orchard often outperformed a grand house in the long run.

Today we risk forgetting that lesson. Electrical fittings, decorative lights, and imported gadgets may impress guests, but they depreciate the moment they leave the showroom.

Functionality matters more than fashion. A well-built room with sturdy wiring is an asset. A room packed with gadgets is an expense pretending to be comfort.

This distinction is especially significant in Kashmir. Situation already limit opportunities for wealth creation. Salaries remain modest, and employment in government jobs, once seen as secure, no longer guarantees long-term stability.

But we continue to chase the next shiny object, including a chandelier and a modular switchboard, while ignoring the slow power of investment.

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