www.insightssuccess.in July 2018
The
10 CONSTRUCTION In 2018
Leader's Insight GDPR – What it means for Indian Businesses?
Leader's Voice RERA: Still Rare on the Ground
Atul Chordia Chairman
Panchshil Realty Bringing the Best of the World to India!
Editorial
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ith the regulatory framework in place, organized players would surely look out to mark their presence in the Indian construction industry. Divided into three mega segments – real estate, infrastructure construction, and industrial – the sector plays a dominant role in defining the Indian economy. “Buy Land, they’re not making it anymore” – Mark Twain, Writer. It’s impossible to create land, and the space available is diminishing by each passing day. With the advent of the 21st century, players involved in the construction industry are shedding traditional and standard norms and embracing innovative practices to stay ahead in today’s competitive market. Offering distinctive features and a plethora of amenities, players are more systematic in their approach.
The Marvels of the Construction World
Even a decade earlier, people had various inhibitions when it came to buying a house. They couldn't gather the confidence in dealing with builders, entirely unaware of the property laws which existed in the country. Bank loans were the other major cliff which was out of reach for the majority of the buyers. However, today the scenario is entirely different – regulatory reforms, the surge in urbanization, and the emergence of an affordable and nuclear housing; the real estate sector is evolving at a rapid pace. As the metro cities are breathing for space, the industry players have shifted their focus towards the tier I & II cities as prospective markets. In today’s modern era, the prerequisites and expectations of the buyers have also witnessed a swift transformation. Quality of service has become a necessity rather than a benchmark – buyers are willing to pay more to get the ultimate service. This has, in turn, motivated the players to walk an extra mile and introduce ‘out-of-the-box’ ideas. The recent initiatives from the Government have also given a positive impact on the industry concerning employment, schemes, and easing the financial structures. As we march forward, these construction giants are best-placed to innovate trendy ideas and in offering luxurious lifestyles. By blending technology with standard models, players are creating their niche markets and cementing themselves as a significant contributor to the industry. As companies continue to remodel their business processes to streamline delivery and align with the best practices, they are in the process of initiating a long-term value for stakeholders and elevate the living standards of their esteemed customers.
Shweta Priyadarshini Shweta Priyadarshini
Editor-in-Chief Pooja M. Bansal Senior Editor Shraddha Deshpande Managing Editor Rajarshi Chatterjee Executive Editor Shweta Priyadarshini Copy Editor Devasish Kanojiya Contributors Rahul Neeraj, Anmol Singh Art & Design Director Amol Kamble Co-designer Rahul Kavanekar Picture Editor Alex Noel Art Editor Shweta Ambilwade Visualiser Shweta Shinde Business Development Manager Akansha Garewal Marketing Manager Dhruv Apte Business Development Executives Joan, Shraddha, Rutuja Research Analyst David Circulation Manager Vivek Bangade Database Management Prashant Chevale Technology Consultant Swapnil Patil sales@insightssuccess.com
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Panchshil Realty Bringing the Best of the World to India!
Interview Tulip Infratech: Shaping Future through Excellence in Real Estate Industry
cxo standpoint
Leader's Insight GDPR – What it means for Indian Businesses?
Leader's Voice RERA: Still Rare on the Ground
Editor's Pick
New Era of Construction
Indian Real Estate Market – Growing in Stature and Exploring New Horizons
Product Life Cycle Management Technology: Redefining the Construction Industry
Curtain Wall
Editor’s Insight
Responsive Architecture: Buildings that can Learn Now
Tech-enabled Construction: Crafting a Better Future
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In4Velcoity: Uplifting the Real Estate Market with Pioneering Solutions
Jayvin Vora:
Rutu Group: Bringing Client Aspirations and Dreams to Splendid Fruitions
Carving New Dimension in the Construction Industry
Vascon Engineers Ltd:
KNK Construction:
Taking Indian Construction Industry to Newer, Bigger Milestones
Proactive and Action Oriented Firm Implementing High Standards of Safety
Showcasing Multiple Facets of the Construction World
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ncorporating the latest reforms and regulations, the Indian construction industry is revamped and has taken the center-stage post a brief slowdown from last year. Standing next to agriculture, the construction industry is the second-largest industry and is a significant contributor to the Indian economy, in terms of revenue and employment generation. Analyzing the importance of the players in the industry, we introduce some of the finest and prominent construction companies who have constantly contributed and have assisted to transform the industry with the turn of every decade. We bring you “The 10 Best Construction Companies in 2018”. This edition aims to showcase the journey of these companies who have managed to strike an even balance between the traditional approaches and the standard practices. In this August edition, we have picked the best 10 construction companies who have embraced technology and are offering smart and innovative solutions in the market. We have presented Panchshil Reality on the cover page of this edition. Established in 2002, the brand is synonymous with world-class luxury hospitality experience. Over the years, it has been crafting fine lifestyle solutions with absolute authenticity, design, and comfort. Alongside, the edition encompasses Afcons, which is a part of the Shapooriji Pallonji Group. It stands proudly as one of the top infrastructure development companies in India with its presence in various parts of the world. Standing tall amongst one of the most promising real estate developers in Mumbai and Navi Mumbai, Bhairaav Group has grown in stature and strength over the years. The Embassy Group is known for creating wealth through innovation, passion, and joy, making it the most admired, respected and aspired-for brand in real estate in the market. Gera Developments Pvt Ltd has been in the market for over four decades and is committed towards innovation and service. Their ultimate objective is to surpass the customer's expectation. With award-winning ERP software In4Suite – In4Velocity is a leading provider of real estate and infrastructure software. Jayvin Vora Construction Company, which continues to be a forerunner in the real estate industry for over six decades. JVCC takes pride in providing complete end-to-end solutions to Architects, Builders, Developers and End users all under one roof. With its inception in 1978, KNK Construction has been a pioneer in the engineering and construction sector. It's a member of the Indian Green Building Council having a world-class record in commercial and industrial construction. Rutu Group of Companies has the vision to anticipate the needs of the customers, and the company keeps on working on the gigantic real estate projects with flexibility. From IT parks, convention centres, luxury malls and schools, and built-in office spaces Vascon Engineers Ltd have done it all. Founded in 1986, it has achieved various milestones and continues to march forward. Throwing the spotlight on the relevance and latest trends in the industry, we have included some captivating pieces of articles written exclusively by known industry experts. Our in-house editors have also penned their perspectives by talking about innovations and aspects associated with the industry. So, flip the pages and explore the insights of the Best Construction Companies, presented to you in the most elegant way!
Cover Story
Atul Chordia Chairman
Panchshil Realty Bringing the Best of the World to India!
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anchshil Realty is one of India’s finest luxury real estate developers renowned for its leadership and excellence in real estate development. Established in 2002, the company has successfully delivered over 21 million sq. ft. of prime real estate, with 20 million sq. ft. under development across multi-asset classes. Panchshil Realty aims to bring the best of the world to Pune city and our country India. From the best construction practices to global technologies, the company offers its clients the finest products in the market. Panchshil’s portfolio spans across high-end residential developments, IT parks, built-tosuit office spaces, special economic zones (SEZ), hotels, convention centers and luxury retail malls. The company’s developments comprise of some of the key landmarks of ‘Tomorrow’s Pune’, such as India’s first Trump-branded residences - Trump Towers Pune; yoopune by Philippe Starck; EON Free Zone in Kharadi - a 6.5 million sq. ft. IT & IT-eS SEZ spread over 57 acres; the International Convention Centre - South Asia’s largest trade and convention center; World Trade Center Pune; and an award-winning built-to-suit office campus for Cummins India amongst others.
Cover Story Panchshil’s 360° approach covers everything from planning, construction, architectural and design services to infrastructure development, automation, and facility management services. Sustainability is core to Panchshil’s philosophy, and therefore each project is constructed with an aim to create spaces that improve the welfare and well-being of the community at large. In line with their vision to create wealth for the city of Pune, Panchshil partners with global designers and partners like YOO, The Trump Organization, JW Marriott, The RitzCarlton, Hilton, Oakwood and World Trade Centers Association amongst others and follows international standards to build not only landmarks, but also to introduce the finest of lifestyles. The Frontrunner With his acute business sense and motivation to provide only the best, Mr. Atul Chordia, Chairman of Panchshil Realty, has redefined the concept of luxury and lifestyle and has been instrumental in transforming the way real estate is perceived in the country. A strategist with extensive entrepreneurial skills, Mr. Chordia has spearheaded Panchshil to play a significant role in putting Pune on the world map. Under Mr. Chordia’s aegis, Panchshil was the first to bring in Foreign Direct Investment (FDI) into the real estate sector with Merrill Lynch. Possessing strong business acumen, foresight and an ability to bring together various stakeholders, Mr. Chordia is the driving force behind Panchshil’s global partnerships and alliances with The Trump Organization, YOO, JW Marriott, The Ritz-Carlton, Hilton, Oakwood, World Trade Center’s Association, amongst numerous others.
Panchshil Business
Park
In collaboration with Blackstone, Panchshil has also acquired First International Financial Centre, BKC, Mumbai and the iconic Express Towers at Nariman Point, Mumbai.
Panchshil built the International Convention Centre (ICC) that would go on to change the manner in which trade and business was conducted in Pune.
The Philosophy Panchshil has always believed in the philosophy of “Promoting the City”, rather than just a project or business. True to this belief, the company has invested in developing Pune’s urban and civic infrastructure, and also the finest social and public infrastructure around its properties, for the holistic development of the entire area and community.
While most developers across the real estate industry in India have adopted the business model of ‘Build-SellExit’, Panchshil Realty has always maintained a principle of ‘BuildLease/Sell-Manage’ model.
Back in 2002, when India was still waking up to the IT boom that was largely restricted to Tier I cities, the company was amongst the forerunners to recognize the major role that Pune could play as an economic powerhouse of India’s growth. At that point,
The Innovation Thanks to its Build-Lease/Sell-Manage model, Panchshil maintains a lifelong relationship with the clients and works endlessly towards ensuring that they are satisfied with their investment. Panchshil has always been amongst the first to incorporate global technologies in its projects. The company introduced “The BathPods”, a first-ofits-kind innovation for the premium
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and luxury residences segment of the Indian Real Estate at Panchshil Towers, Wagholi. A bathroom pod is a three-dimensional selfsupporting element of structure that is prefabricated offsite, with a floor base frame, walls, and ceiling. It is delivered to the site directly, complete with all architectural fittings and fixtures. TheBathPods significantly reduce construction timelines. With this innovative technology, clients can look forward to the timely delivery of projects.
Our approach is focused on planned development, creating value assets for the city, and to become the leader in our sphere of business.
Additionally, Panchshil has also adopted “Dry Construction Technique” which helps in creating high-quality, low-cost, time-effective as well as eco-friendly projects - a major selling point today. This is a signature technique being followed in Panchshil projects. DCT is 8-10 times lighter than the traditional brick and cement work and allows up to 70% saving of construction time. The width of the wall constructed with DCT is only 80 mm in comparison to the 200 mm standard walls made of brick, leading to an increase of the carpet area in the process. The Success “We dared to dream big. A dream to build not just homes, but lifestyles. A dream to create integrated workspaces, and to shower hospitality with gilded luxury,” - Atul Chordia The company’s approach is focused on planned development, creating value assets for the city, and to become a leader in its sphere of business. Over the years, Panchshil properties have become landmarks
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Cover Story “At Panchshil, we have always believed in the philosophy of “Promoting the City”, rather than just a project.”
JW Marriott Pune
of Pune. Panchshil has ushered in not only the best construction practices, but also the world’s best brands to Pune, and in the process has changed the city’s skyline. “The credit of our success goes to our partners, investors, clients, and our thousand-strong workforce who make us one of India’s finest luxury real estate brands,” - Atul Chordia
Panchshil’s developments are finer in every aspect, commanding appreciation in value, and identity. They aim to maintain high-quality standards in architecture that not only adapts in harmony with its surroundings, but also promotes life, creativity, and happiness. Their timeless way of building ensures that the designs endure, and the quality outlasts.
EON Free Zone
We strive to create sustainable social projects that make maximum impact in bettering lives. “We know the road ahead is long and exciting. We have many more milestones to establish. However, every milestone takes us back to where our story began: a vision, a dream,” Atul Chordia The Community The Panchshil Foundation fosters a strong sense of community belonging and ownership. The company believes that better communities are built when people lead better lives and better lives are built around basic needs and necessities. Education, Health, Sports, Arts & Culture, and the Environment around us are integral to building and leading better lives. In these dimensions, the company focuses on the individual and the community alike. Panchshil strongly believes in the adage that charity begins at home. The employees are considered an integral part of the family and thus they are the first to benefit from the company’s social initiatives. One of the core focuses of Panchshil is facilitating education for all and in keeping with that, Panchshil sponsors the tuition fees of all of its employees’ children from class I until XII.
“We shoulder the responsibility of being accountable and transparent to the community such that, with our endeavors, we may set benchmarks in all our social initiatives and be a source of pride for all stakeholders,” Atul Chordia. The Future Starting its journey with Pune, Panchshil’s aim was to introduce global lifestyles to the city by way of its developments. The company has further forayed into India's financial capital - Mumbai, with the acquisition of the iconic Express Towers at Nariman Point, followed by First International Financial Center at Bandra-Kurla Complex. Additionally, the company looks forward for acquiring strategically located properties in Mumbai and to leave its mark on the maximum city. Ultimately, the aim is to develop properties across India, which is at par with the best in the world.
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CORPORATE OFFICE Insights Success Media and Technology Pvt. Ltd. Off No. 513 & 510, 5th Flr, Rainbow Plaza, Shivar Chowk, Pimple Saudagar, Pune, Maharashtra 411017. Phone - India: 020- 7410079881/ 82/ 83/ 84/ 85 USA: 302-319-9947 Email: info@insightssuccess.in in
Company Name
Management
Brief
Afcons afcons.com
K. Subrahmanian Vice Chairman & MD
A part of the Shapooriji Pallonji Group. It stands proudly as one of the top infrastructure development companies in India with its presence in various parts of the world.
Bhairaav Group bhairaavlifestyles.com
Akkshay Jain CEO
The Group is counted amongst one of the most promising real estate developers in Mumbai and Navi Mumbai and has grown from strength to strength and flourished over the years.
Embassy Group embassyindia.com
Jitu Virwani Managing Director
Founded in 1993, the establishment operates at a PAN-India level along with operating in international teritories including Serbia and Malaysia.
Gera Developments Pvt Ltd gera.in
Rohit Gera Managing Director
Gera Developments is a dedicated end-to-end real estate organization with in-house architects, engineers and construction crew. They work with an aim to surpass customer’s expectation.
In4Velocity in4velocity.com
Rahul Chawla CEO
In4Velocity Systems Pvt Ltd is a leading provider of real estate and infrastructure software.
Jayvin Vora Construction Company jayvinvora.com
Jayneel Vora CEO
JVCC is a diverse family owned organization of highly skilled construction and design professionals having industry experience of over six decades in delivering smart construction solutions.
KNK Construction Pvt Ltd knkindia.com
Ashish Krishnaswamy CEO
KNK Construction Pvt Ltd is a pioneering engineering & construction company that has a world-class track record in commercial and industrial construction projects.
Panchshil Realty panchshil.com
Atul Chordia Chairman
As one of India’s finest luxury real estate developers, Panchshil’s portfolio spans across high-end residential developments, IT parks, built-to-suit office spaces, special economic zones, hotels, convention centers and luxury retail malls
Rutu Group Of Companies rutugroup.com
Mukund Patel MD
Develops eco-friendly living by offering quality construction and world-class infrastructure.
Vascon Engineers Ltd vascon.com
R.Vasudevan Chairman
Vascon Engineers Ltd excels in applying the art or value-based aesthetics into the science of construction through efficient engineering.
Indian Real Estate Market Growing in Stature and Exploring New Horizons
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July |2018|
Editor’s Pick
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espite a muted global economic slowdown, the Indian economy is on a steady trajectory over the last few years. Underlining the current trend of the Indian real estate market, which has overcome the slowness from the previous year, the market is gradually expanding its horizons with new opportunities. The impact of GST, and demonetization, compounded by RERA has filtered the unaccounted flow of money into the real estate market. This will further lead to the growth of more sustainable and authentic players in the market. Good Time for Buyers From the customer’s perspective, this is a favorable period as the influx of liquidity in the system has lowered down the home loan rates. The banking and non-banking financial institutions are facing a fierce competition to stay ahead in terms of market occupancy. Developers and promoters on the other hands are offering attractive rates and flexible payment plans to draw potential buyers. Experts believe that once the market stabilizes in a few months, there would be a speedy recovery in both the primary and secondary residential market. Innovations of New Business Models The advent of new-age technologies like artificial intelligence, big data are also playing a pivotal role in transforming the regular business processes. Corporates and July |2018|
major players are embracing innovative technologies to automate the back-end activities. Furthermore, data analytics is a key attribute in defining how technology can be leveraged to improve existing commercial operations. Better transparency is expected in the market as developers are agiler in balancing the short and long-term corporate needs. Modern techniques and smart innovations like electronic garbage system, solar lighting facilities, smart parking options, and rainwater harvesting are alluring for the buyers. Virtual tours are becoming a reality as developers are assisting visitors and buyers to visually take a tour of the property. The internet has opened unprecedented doors as Smartphones are helping the market to grow by sharing data in quick time. Numerous real estate mobile applications have boomed into the market which makes it more exciting and engaging for the buyers and promoters. The Changing Landscape With the changing economic scenario and evolving environment, residential and commercial requirements are changing at a brisk pace. While the demands by the buyers are more discerning in terms of quality and services, the developers are innovating new ways to cater to the customers. Few of the mentionable changes in the real estate market are:
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Editor’s Pick
Virtual Communities: This is an online platform for buyers to get the best deals and stay abreast about the updates in the market. The developers are offering and encouraging such platforms as they are able to move a large inventory in one shot. Property deals are updated on the portal and interested buyers can express their interest along with the expected budget. Serviced Apartments: With a huge rise in the corporate sector, the demand for serviced apartments has gone to new heights. These apartments are fully-furnished residential units accompanied by housekeeping, concierge, and maintenance services. Metro and tier-I cities having a huge IT and ITES population are the biggest buyers of these furnished apartments. Green Homes: Eco-friendly homes with green certifications are the latest trends in the real estate market. Compared to the traditional homes, green homes are bit expensive, however as the operating cost decreases over the time, it will be much feasible for the consumers. Along with better spaces to live, green homes also assist builders to market their products and explore the untouched territories. Hybrid Spaces: The commercial segment is also witnessing a steady trajectory and is poised for a massive growth in the future years. The transformation of the traditional workculture environment and evolving startups has introduced the concept of hybrid or co-working spaces. As this trend expands towards the tier-II cities, it creates an upwardstangent in productivity, and cost-efficiency while creating new-inroads in the real estate market.
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An Investment Hotbed for Foreign Investment As the global market recovers from its slowness, global investment banks and private equity firms like JP Morgan, Blackstone has already entered into the residential, commercial, and warehousing market. KKR Assets Finance Ltd has invested up to 1 billion USD in residential projects based in Bengaluru, Chennai, and Gurugram. Infrastructure projects like the DFC (Dedicated Freight Corridor) and the DMIC (Delhi-Mumbai Industrial Corridor) along with initiatives taken by the Government is attracting foreign investment in India and driving the Indian economy. The Propositions for Future As developers try to be more ingenious by offering smart and affordable homes, the ‘organized’ real estate industry stands to be a key contributor to the Indian economy. With a majority of developers aiming to finish their current projects, discounts and freebies offered by the developers are touching the sky. The EMI’s have been more considerable than ever, which is helping the buyers to convert their dreams into a reality. The mantra of ‘affordable housing for all’ is driving the Government initiatives at a brisk pace with an aim to provide homes to the citizens. With such big strides taken forward, the fortune of the Indian real estate market is going to outshine all the previous milestones and create a benchmark of its own.
July |2018|
In4Velcoity: Uplifting the Real Estate Market with Pioneering Solutions
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Be the best that you can, deliver the best that you can – truly and with integrity
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very building which stands on this planet is not just a figure made up of brick and mortar. Building infrastructures with utmost expertise and remarkable innovations are apparently accomplishments by itself. Behind the buildings, lies a set of people including a builder, a real estate company, businesses complimenting construction business and numerous other people without whom a building cannot stand straight. In this ever-growing industry of construction, the real estate companies have upgraded their amenities to expand the outreach and the on-going businesses. The real estate organizations are achieving new heights with their management and developing skills. In fact, it is shattering all the barriers of a confined space and is elevating its contribution towards the ecosystem. One such company with the vision and mission to be the de-facto platform of choice for real estate developers and infrastructure players is In4Velocity Systems Pvt. Ltd, a leading provider of real estate and infrastructure software. The core values of In4Velcoity are integrity, respect, passion, discipline, trust, quality and sincerity of purpose. These values are their beacon for determining the action towards their customers, channel partners, vendors and each other. In4velocity offers its employees freedom at work, matchless leadership and the opportunity to grow at a rapid speed. It provides them challenging, intriguing and motivating assignments, which bring a sense of professional fulfillment as the company believes that at the core of high performing organization lies their employee.
Rahul Chawla CEO
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The Journey of an Extraordinary Leader A charismatic leader having extensive experience of over two decades, Rahul Chawla, CEO at In4Velocity System, is a figure of a visionary. He is currently at the top of the pyramid and communicates the vision of the July |2018|
company to inspire employees and customers. With a Bachelor’s degree in Computer Science & Economics from Brandeis University, U.S.A. Rahul has also played semi-professional Golf and has represented India in Tournaments at St. Andrews. A serial entrepreneur and a veteran of many successful startups, Rahul started his career in 1993 in the United States. He was a part of the team that assisted in the inception of Cambridge Technology Partners (NASDAQ: CATP), a global IT Consulting firm. In 2000, Rahul started Orbit-e consulting, funded by Warburg, which was dedicated on business strategy consulting and offshore development, an exceptional offering from the Indian sub-continent for the US market. Then in 2003, Rahul merged Orbit-e into a Bain-funded company based in the US and China. In 2004, Rahul started In4, which is India’s foremost Real Estate ERP for property developers and infrastructure players. Ahead in 2015, Rahul established ArrowPS, a top professional services automation software company. Facilities that Boost the System The award-winning ERP software of In4Velocity, In4Suite® is used by over 35,000+ users to manage complex construction activities and customer related sales transactions. In4Suite is the central product platform that unites a group of integrated modules that together provides a comprehensive and finished solution for the end users. The entire package can be purchased and its solution can also be bought and run in components or modules which can be added on as a plug-and-play architecture. Portals Portals shape a way for a company to expand their enterprise to include their stakeholders and digitize their value chain, thereby, providing a much July |2018|
effective service, and at the same time reducing manpower expenses, on organizing communication and information flow. Dash Boards The dashboards and business intelligence formulate a crucial part of the analysis that a real estate developer must do to stay in the forefront of the change. The In4Suite® Dashboards are established in collaboration with the world leader QlikView®, where a dedicated relationship between the two companies yields an OEM solution for In4velocity’s customers. CTI (Computer Telephony Interface) In4velocity’s generic TAPI based CTI solution integrates with its CRM module to provide its customers with valuable functionalities. ‘Out-of-the-Box’ Strategies to Surpass Competition
English, French, Hindi, Indonesian, Malay, Thai and Vietnamese. Strengthening Client Base by Providing Benefits All organizations run with the stereotype processes of BUY side, SELL side and IN side. All the three sides play their respective operations and contribute to the business processes and stakeholders in an organization. At In4Velocity, In4Suite® is built around the premises that connect the BUY side, SELL side and IN side of the organization, on a single platform, through a digital chain that enables a huge amount of efficiency and disrupts the traditional way of doing business. The real estate PMC’s, infrastructure companies, and construction management can leverage the power of In4Suite® ERP to streamline their operations and optimize their business process.
Flexible The way of doing business is transforming fast due to change in law and amendments in the standards. The In4ERP system is customizable and flexible with features such as email and SMS marketing, billing and invoicing, residential properties, payment processing and more. Hence it helps the customer in changing the processing system as per their requirement.
The real estate marketing companies and project marketing companies can increase their revenue and shorten their cash-flow cycles on collections. The rental & leasing and property management companies can automate billing and collections, maintenance and management of preventive maintenance alerts, thereby, enhancing customer experience.
Online-Connection with Other ERP System In4Suite® is capable of connecting to other ERP system online as interaction and collaboration of businesses recently started. So, it is necessary to connect them online through our ERP. Multi-Facilities In4Suite® has multi-facilities which makes it capable of working with multi-currencies, multi-lingual and multi-platforms. It supports nine languages like Arabic, Chinese,
Accelerating with Time Expanding globally is a smart next move of In4. It is a game-changer for the way the company will cross borders and move around the world. It will adapt products and processes in particular payment platforms, delivery expectations and supply chain management. It will keep up with the customer expectations in different locations and go a long way toward positioning the company ahead in the stiff competitive international business environment.
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Parveen Jain CMD
eal estate is the second largest employer after agriculture and independent researchers have suggested that this sector is poised to grow at thirty percent over the next decade. The steady growth is driven by the corporate environments, office spaces and the surge for accommodations among the prominent cities in India. Tulip Infratech is one of the leading real estate developers in India which is embracing innovative technologies to evolve as a major contributor in the real estate industry in India.
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Brief us something about Tulip Infratech and the services provided by you.
Parveen Jain, CMD at Tulip Infratech spoke to Insight Success and highlighted some of the trends and strategies they have incorporated in their splendid journey spanning over a decade.
Tulip is mainly into Group Housing and commercial projects. The main group housing projects are on Sohna Road Badshahpur Gurgaon which are tulip Orange, Tulip Ivory, Tulip White, Tulip Purple, Tulip Violet, Tulip Lemon.
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Tulip Infratech is a real estate development organization in Delhi Gurgaon NCR (National capital Region) in India with its corporate office in Gurgaon and registered office in Connaught place in Delhi. Tulip is into real estate and infrastructure development. Tulip was started by Parveen Jain (CMD) in the year 2005 and since then there has been no looking back.
July |2018|
Interview With Insights Success There are around 5000 condominiums in these Group Housing projects. Tulip Grand another group housing project is in Sonepat, Tulip Ace & Petals, the huge group housing project is at Pataudi road in Gurgaon. Several other upcoming projects like three commercial in Gurgaon, two affordable housing projects at Dharuhera and three housing projects in Gurgaon are in pipeline. Tulip has also delved into infrastructure development by Tulip’s joint venture with CCTEB (China construction Third Engineering Bureau), one of the largest Chinese construction global company. Brief us about Parveen Jain, CMD at Tulip Infratech. Parveen Jain is the Chairman and Managing Director of Tulip Infratech, one of the leading Real Estate development organization brand names in the Indian Real Estate sector. He is also the Vice Chairman of NAREDCO (National Real estate Development Council). His role has been outstanding towards the development of housing, commercial projects and infrastructure in the fields of construction and Real Estate sector. He started Tulip Infratech in the year 2005 and within a very short span of time, has made it a major force to reckon with in the Real Estate world. Parveen has an in-depth knowledge of the Real Estate industry and all its related fields like construction industry and other aspects. He is a very dynamic person and a go-getter. Due to his positive approach, farsightedness, correct analysis, correct judgments and right decisions, his role has been major towards the development of group housing, commercial projects and infrastructure in Gurgaon NCR region.
July |2018|
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Gianni Minetti
Due to his dexterous organizational skills, his client-centric time-bound strategy has proved to be a boon for the end-users who are the proud owners of the delivered condominiums. During his flowering career, Parveen has bagged several national and international awards in the Real Estate world. He visits foreign countries frequently and sometime back he accompanied the delegation of the earlier President of India on a prestigious tour to South Korea. Parveen keeps himself abreast with the latest technologies and developments in the infrastructure and Real estate all over the world. Parveen’s recent major achievement is that he attended the very important international BRICS ( Brazil, Russia, India, China, South Africa) summit 2017 held in China where the various countries were represented by the heads of the nations and India was represented by the Indian Prime Minister.
with timely delivery of the project, all the challenges are overcome successfully. Tulip has been following this client-centric strategy diligently. WINNING THE TRUST & CONFIDENCE of CLIENTS: Tulip Infratech – the legendary name exudes trust & confidence of clients, poise, success, an achievement for all those who are associated with Tulip Group and most of all the end users or clients. The end users, investors or clients of Tulip Group are the ones for whom this Real Estate organization stands for and works round the clock to convert their dreams into reality, successfully on time. What is the vision and mission of your company?
What kind of ‘out-of-the-box’ strategies your company is providing for differing from the competitors?
Tulip’s mission statement is ‘Shaping future through excellence’ which encompasses broadly all the aspects of its mission, the first and the foremost being the successful delivery of projects to its clients through excellent work, setting a high benchmark in the process for others to follow and shaping a bright future comprehensively in this regard.
SUCCESSFUL DELIVERY OF PROJECTS ON TIME: Tulip has been successfully delivering its projects year after year where clients are cherishing their stay. This has been the main goal of Tulip Group and this organization fulfills its commitments always. This is the key to success of Tulip Group and the main reason for the enviable position of Tulip Group where it stands today in the Real Estate sector.
Tulip’s procedure of realizing its vision concentrates upon doing hard work diligently, producing best quality work, no procrastination, using latest available technologies like ‘Mivan technology’ in Tulip Lemon for faster best quality work, going step by step to achieve aims and objectives and through the whole process realizing the ultimate goal successfully.
CLIENT CENTRIC STRATEGIES: Client-centric strategy is in vogue today. It means Tulip has to see from client’s perspective what all client expects from Tulip regarding his dream home. Tulip then keeps in mind all his expectations and tries to fulfill them to the best of its capabilities so that no inconvenience is caused to the client.
How do you identify a potential market, particularly in a diverse market of India? What is the ‘need of the hour’ in the industry today?
In Client centric strategy, the first and the foremost thing of paramount importance is Tulip’s attitude with the client which can win the heart and the trust of the client from the very beginning and if the client is happy, then by word of mouth he recommends Tulip’s name to other prospective buyers and a chain reaction of good reputation builds up in the market for Tulip. Then by providing the dream home
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We identify the potential market according to the prevailing and future demand. The need of the hour these days is ‘Affordable Housing’ which can satiate the basic housing needs of the masses and is also affordable as the name suggests, and is in consonance with the Govt’s mission of ‘Housing for All’. Following PPP model (Public Private Partnership) in Affordable Housing shall prove to be a big boon for accomplishing this noble mission.
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RedeďŹ ning the Construction Industry 28
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New era of Construction
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n the modern global economy, the construction enterprises have to face several challenges to streamline processes; increase revenues and cut cost whilst at the same time meet regulatory demands. The Product Life Cycle Management technology (PLM) is aiding these enterprises with innovative Product Data Management (PDM) solutions. Currently, PLM is playing a vital role in providing the companies with keys to optimize their businesses. It is also playing a significant role in the designing, developing, and managing the construction machinery and products so that the enterprises can attain a greater profitability and stability. Boosting the Agility In the fast stirring construction world, technology is becoming explicit in making the process faster and more efficient. PLM enables enterprises with improved communication and responsiveness. Efficient communication and information-sharing can foster the setting of a construction company and enforce smooth on-site and off-site operations. As such, PLM provides more flexibility to the work leading to frequent collaboration, cut costs and escalate business outcomes. It is integrating applications that help the companies to innovate their products regarding the development and the engineering performance. Also, consistency of working methods and more efficient data management leads to mobility in the workplace and provides prominent decision-making process assistance. Driving the Wave of Business Analytics Data is of great use for any construction enterprise. This data need not be disputed. PLM technology is the key to monitor the engineering data and process information in a significant manner. It provides selective access to the data and mechanism related to the control of the data leading to end-to-end construction processes. This helps in carving-out better construction solutions. PLM is making significant efforts needed to bring right data in the right form and delivers functions that allow the information to be under control. It precisely supports the construction processes with the suitable risk & compliance as well as the service management. PML is surely assisting the business analytics with its applications, delivering strategical and tactical business values. The integration of PLM with analytics will help the construction companies in capturing and analyzing any sort of content, allowing transparent delivery of only the important data into the 3D-experience platform. This facilitates the elimination of legacy tools and systems in a controlled and low-risk manner. Connecting Every Dot of the Market— Construction Lifecycle Management Construction Lifecycle Management (CLM) is simply PLM for Construction and Engineering. It promotes innovative ways of thinking and doing business by delivering cutting-edge Construction Process Integration framework. This helps the organizations to withstand the market complexities and manage all the phases of the Lifecycle of a Capital Asset holistically: design, build, operate and retirement. In the construction market, Production and Manufacturing are unique fields on their own but share a great deal of things together. Individually these fields are concerned with creation. Broadly, manufacturing is concerned with creation of products and production is concerned with capital assets. CLM helps organizations to clearly build a symbiotic relationship between the two. It has helped connecting every dot of the construction industry and is profoundly transforming the construction-tech processes. CLM provides a complete strategic business approach for the companies by which they can implement a consistent set of business solutions— integrating people, processes, and information. It highlights these
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solutions in support of the collaborative creation, management, dissemination, and use of construction definition information. It is a comprehensive business approach that conduits the opening between design, engineering, construction and profit-margin for the business enterprises. CLM covers missing support regions and overcomes the lack of integration and collaboration between different business operations taking place in the industry. It facilitates the involvement of construction information across all enterprise functions, customers, and suppliers. CLM is taking the construction market to the next level by underpinning both lean practices and standardized modules. It gives a solid foundation to an organization. It is nothing more than a PLM for construction practices which is improving how information is organized and how changes are managed. It can prevent inhibiting the reintroduction of waste into operations once it has eliminated and generated profitable business outcomes. It helps in managing how the products and their designs are standardized, organized into configurable modules, and efficiently manufactured based upon the data. A Tech-Enabled Future There will be an exciting future for the construction industry with the rapid development in the PLM industry. It will empower the next wave of business productivity. Integration of PLM in the cloud, mobile, and the IoT will lead to rewarding opportunities with extraordinary contributions to the construction world. PLM will provide the construction enterprises with a seamless data integration layer to access the core database information in a simple and efficient manner. These curated moves would create a successful platform for an organization to set its pillars right into the market. Furthermore, systems decomposition and process re-engineering would become paramount to the IT skill inventory. This would be due to the business operations and master data hitches decomposed in unison and enabled by the PLM technology platforms of the future.
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Jayvin Vora: Carving New Dimension in the Construction Industry
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We aim to establish ourselves as an entity whose value is greater than the sum of the parts or services we provide to our customers. To become industry leaders for construction and asset management solutions that surpasses client’s expectations
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he construction industry has always been in the limelight of the business eco-system due to its sheer prominence and imminent role. In earlier days, companies completing projects in time with an economical budget have been considered as successful companies. As time progressed, companies posing a good track-record, excellent infrastructure, offering quality amenities within established budgets were called as top-performers in the industry. However, with the turn of the decade, the industry has taken a gigantic leap and has transformed itself by embracing modernization, technology, and has re-shaped the outlook of the industry.
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Journey Fostering Creativity and Innovation Jayvin Vora Construction Company is a perfect example of a building contracting and development firm which has successfully managed to evolve over the years and stands to be one of the forerunners in the construction industry. Having serviced the real estate sector for over six decades, they have amassed huge expertize and proficiency facilitating better structuring, ease of planning, control on quality and timely completion of projects. The company takes pride in providing complete end-to-end solutions to Architects, Builders, Developers and End users all under one roof.
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Jayneel Vora
Jitesh Vora
CEO
Founder
Right from the foundation of a structure to handing over the keys to a fully furnished apartment – JVCC offers an in-house solution to all services including RCC, civil work, plumbing, electrical, firefighting, tiling, carpentry, painting, and finishing. With the recent addition of their standalone independent architectural practice, the company is uniquely positioned to provide an integrated Design & Build solution to their esteemed clients. Sharing the platform with some of the top performers in the construction domain, they carry a plethora of experience in July |2018|
budgetary estimation, design, project planning, resource & manpower management and the entire latitude of finishing services which helps them turnaround projects from planning stage to handover in time while conserving valuable resources. The Inspiring Journey of a Family of Dynamic Leaders The roots of this third generation family run entity can be traced back to the Visionary Mr. Dhirajlal Vora who founded M/s. Shah & Vyas in 1953. The company remained a pioneer in the field of Civil Engineering and Construction and completed various iconic landmark projects spanning across various sectors like residential, commercial, educational and industrial as well as the aviation sector. The CGO building & Aayakar Bhavan at Churchgate, CIDCO Bhavan at Belapur, Mahanand Dairy at Goregaon and New Zealand Hostel at Aarey Colony are some of the feathers on the cap. Following the footsteps of his father, Mr. Jitesh Vora founded Jayvin Vora Construction Company in 1988 after obtaining his Master’s Degree from the exemplary Purdue University, USA. His vision was to work closely with quality conscious architects & developers and build structures that stand the test of time.
Despite being a significant part of one of the largest industries in the country – Building contracting remains largely unregulated. Absence of a regulatory system / body makes it difficult to safeguard the interests of a construction company especially since it is an extremely capital intensive business. Volatility and instability in the real estate sector clubbed with negative market sentiments and unfavorable government norms indirectly affect the construction industry as well. Jayvin Vora Construction Company has overcome these and various other challenges with an honest work ethic, professional approach and a commitment to quality. Its years of experience in the field, resourcefulness and hard work have helped them remain competitive. The company takes pride in working with team of dedicated engineers, supervisors and a lean team of select professionals who ensure that the firm is prepared to withstand the various uncertainties and challenges that are unanimous with the real estate sector.
This vision is being carried forward by the CEO Mr. Jayneel Vora. With a degree in design and a flair for management, this third generation entrepreneur is spearheading the growth and development of the firm and driving Jayvin Vora Construction Company to new heights of success.
Enticing Potential Clients with Comprehensive Strategies JVCC has strategically cemented them to cater to a niche market of the builders, developers, architects, and end users who look out for smart and innovative solutions. Today, it stands high amongst the few listed players delivering a complete ‘end-to-end’ solution to the clients and architects for developing their services by offering a comprehensive range of facilities and amenities.
Pursuing Excellence by Overcoming Obstacles Having serviced the real estate sector for over half a century, the company has withstood many a storm.
The entity works diligently with the clients and their team of consultants to deliver unbiased suggestions and solutions to ensure smooth functioning and completion of every project. JVCC
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has a long established history and a multi-disciplinary combination of directors who have established longstanding relationships with its quality conscious team of engineers, supervisors, and sub-contractors that help them surge ahead. Commitment and Determination: Designing the Path of Future The company is progressing forward with a positive outlook for the future. It aims to establish itself as an entity whose value is greater than the sum of the parts or services they provide to its customers. In the coming years, with the charted growth and development of smart cities and smaller metros, the company intends to transform the entire construction process into a seamless affair. As JVCC is on the right trajectory of growth and development, it is confident to improve the trust and long collaborations with individuals and firms in the future. It is optimistic to evolve as a major contributor in the coming years and play a mature role in transforming the construction industry of India. URL - www.jayvinvora.com
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Buildings that can Learn Now
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nnovative research, development, and technology have transformed the way architects approach building designs. Everything surrounded by humans is in a constant state of flux, with varying dynamism. These spaces are surrounded by constantly changing of forces of nature. The theory of buildings standing straight, while their environment being in a state of continues alteration is now a question in the architectural dictionary.
Responsive architecture calculates environmental conditions via sensors to adapt their form, shape, colour or character responsively. It’s an evolving phase in the architecture industry. The aim is to optimize energy performance with responsive technologies i.e. sensors, controls, and systems. The formed building will also reflect the cultural and technological conditions of the current time. These sensors are employed in the buildings to monitor and control various aspect of the built environment such as humidity, temperature, solar radiation, and recognize patterns in the human activities. An intelligent and responsive technology in a building aids an architect in attaining the ability to shape the building according to its environment. A Glimpse in the History of Learning Buildings Charles Eastman, a writer, national lecturer, and reformer wrote: “The ethic of modern design is to take human activities as given, without constraints, and to create and environment which maximally supports them”.
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Curtain Wall
Nicholas Negroponte coined the term “responsive architecture” in the 1960s. During this time, spatial design problems were explored by applying cybernetics to the architecture. He extended the concept of contextual variation and computing and its integration into architecture. Since Negroponte’s contribution, new works have also emerged, but they were not functional. All these works were depended upon the calculating abilities of the computers that were programmable, to the real world and the events that shape it. The Current Scenario Architecture aims to build reliable, smart, intelligent, interactive, and responsive buildings that respond well to the environment. With the advent of intelligent homes in the recent years, the industry is developing computerised systems and electronics to adapt the exterior and interior of buildings, that too with the needs of the residents. A building skin can hold such smart devices. The architecture will adapt to changing weather conditions taking account of light, heat, and coolness. A responsive building will acknowledge the forces acting upon it like climate, energies, information, and human touch and will change respectively to the situation. Theoretically, this will be achieved via designing adaptable materials. For example, rods and strings which can bend in response to wind behaving just like a tree. These smart materials will have unique properties and they will react differently on exposure to different environmental stimuli. They will have the ability to transform their physical properties and shape without requiring any external source of power. They can be very useful in increasing functionality and performance, reducing energy consumption at the same time. Performance of such materials is primarily controlled through computation and automation. The response provided by these smart materials will be real-time, intellectual, multiple-resulted, discrete, and direct. Hurdles in the Framework Great architecture responds to a client’s vision with competing forces of budget, time, site, environment, and the path to approvals. Navigating such a demanding project will definitely require a special team. Any approach in producing an agile architecture structure having the ability to change its shape must harvest both architecture and
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engineering methodologies to ensure robust performance. The primary goal in designing a responsive architecture must meet the spatial requirements. Furthermore, to control responsive methodology, building structure must be placed within an envelope that guarantees maximum safe and minimum rigidities. Such architecture requires architects to program and design electronics, which they normally don’t. This problem will ensure that architectural and engineering practices depend upon each other. It will utilise a diverse range of inputs and produce a wide range of effects. Architects must be very careful as the interaction of all these elements is highly reactive and responsive. The Hybrid Model A simple model can be created for a curated architecture building consisting of three phases. The first phase can be the input from the user. This phase comprises the user’s ability to manipulate the responsiveness throughout the whole building. The second phase deals with the spatial responses used to control internal and external spaces via computation and automation. Lastly, the final phase depends on building, how it behaves and responds to the environmental load. Forecasting the Future Response With the dawn of technological advancements, future of responsive architecture is definitely improving. The only focus left is on the energy-intensive systems. Intelligent architects must seek out and connect with resources in need because the life surrounding humans is everlasting and it will adjust according to change. They must be sure before applying any techniques, the high possibilities and repercussions of their work. The materials sometimes can be unpredictable just like humans, environment, and the climate and materials should behave just like humans want them to work. Such new technologies will drastically change the environment, causing re-articulation of architecture. Architects must be aware of upcoming new technology for the future and they must also ensure that any architecture must harness the smart use of materials that were built with computation. If such technological advances continued, it will be hard to tell the difference between real and alive.
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Anuj Puri,Chairman ANAROCK Property Consultants Pvt Ltd
RERA
Still Rare on the Ground 38
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Leader’s Voice
About the Author Anuj Puri, Chairman at ANAROCK Property Consultants Pvt Ltd Over 27 years of experience in multi-disciplinary advisory and transactions ranging from real estate to social development projects. Expertise in planning, undertaking demand assessment studies and transaction services including marketing strategies based on technical real estate market analysis, feasibility studies, program requirement derivation and fund and investor sourcing. At JLL India, was responsible for the overall direction, strategy and growth of the largest premier real estate services company in India. Oversaw a team of over 4800 employees across 11 cities in India with an annual business turnover in excess of INR 800 crores. July |2018|
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aharashtra has the most RERA-registered projects with 17,353, UP with 3,950 projects Serious developer-favoring dilutions impacting demand in many states More than a year after RERA was formally implemented; we are beginning to see some real impact on the ground. However, the results are still far from scintillating. Progress so far: Out of all the states and Union Territories in India, Maharashtra takes the first place when it comes to proactive RERA adoption, implementation and integration, followed by Uttar Pradesh, Gujarat, Madhya Pradesh and Karnataka. As per the latest registration updates, more than 32,306 projects and 23,111 real estate agents have been registered under RERA across states.
Ÿ Maharashtra has the highest share of registered Ÿ Ÿ Ÿ Ÿ Ÿ
projects under RERA, accounting for 17,353 Uttar Pradesh has 3,950 projects registered Gujarat has 3,300 projects registered Karnataka has 1,982 projects registered Madhya Pradesh has 1,901 projects registered. States such as Maharashtra, Karnataka, Gujarat, Rajasthan, Madhya Pradesh and Punjab have fullyoperational RERA. Due to the complexity in laws pertaining to land, north-eastern states such as Mizoram, Manipur, Nagaland, Meghalaya have not implemented RERA as yet, and are examining the provisions.
A RERA portal has been launched and interim regulations are visible in the cases of Himachal Pradesh, Uttarakhand, Haryana, Uttar Pradesh, Chhattisgarh, Andhra Pradesh, Karnataka, Tamil Nadu
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Leader’s Voice and Bihar. A RERA website is not yet operational in West Bengal, and a committee has been formed to study the Maharashtra and Karnataka model of RERA implementation. Penalty impositions so far: Penalties have been imposed by state RERA cells for not aligning with the RERA rules in: Maharashtra, which has penalized many reputed developers recently for advertising unregistered projects and not having the project address updated on the RERA website. In Karnataka, the 2nd most active state in implementing RERA, where the RERA cell has sent notification letters to 100-130 projects in Bengaluru for not registering under RERA in 2017. 953 project applications are still under investigation. Despite some encouraging number, it is evident that RERA has not been adopted in the manner and to the extent the Centre originally intended. In some states, there have been serious developer-favoring dilutions of the clauses meant to protect the interests of buyers.Delay in project execution because of dilution of RERA, and the overall signal such dilutions send to the market will act as a dampener on buyers’ confidence. This, in turn, will affect developers’ ability to sell. There can certainly be circumstances under which a project can be delayed for which the developer cannot be held responsible. Among such extenuating circumstances, the failure by concerned Government authorities to furnish timely development permits without good reason probably counts the highest. The effect that the more recent amendments will have depends on how different states interpret the concept of ‘exceptional and compelling circumstances’. RERA must define such circumstances clearly and satisfactorily to end-users and investors. Also, Government agencies dealing with project clearances should be brought under RERA’s ambit, as well. If RERA is to bring in genuine accountability, the accountability must be unilateral, not one-sided. Major Dilutions: While many states are still in the process of notifying their RERA rules, there has been continuous fretting about the dilution of the rules recently notified by many states. In fact, there are multiple changes made by different states in the RERA proposed initially by the Central Government. Dilution in ongoing projects’ definitions has left a huge number of projects out of the RERA ambit, and this is understandably a major concern for buyers. A broad-based list of RERA dilutions:
Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ
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Introduction of exceptions to dilute the definition of ‘ongoing’ projects Penalty provisions related to imprisonment of developers Calculations on monetary fines or penalties as a percentage of project cost Payment schedule requirements Norms for escrow withdrawals Liability in case of structural defects Fees on filing complaints against the developer To live up to the spirit of RERA, the Government must ensure at all costs that the RERA rules remain aligned and effective across all the states, while balancing the interests of both buyers and developers.
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KNK Construction: Proactive and Action Oriented Firm Implementing High Standards of Safety
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Achieving customer delight and loyalty by ensuring quality, safety and timely delivery of our products and services
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ioneer in fast track construction, delivering a wide variety of sustainable projects in commercial and industrial genre, KNK Construction has established its presence in the industrial and commercial sectors. It drives by the saying, “Trust is earned when the words are turned into actions.” It invests in infrastructure backed by efficient maintenance to execute world-class, highly mechanized construction. In this cut throat competitive scenario, one has to be technically sound and efficient to be the forefront of the industry. Having a good equipment infrastructure is very important for construction companies. Bangalorebased KNK Construction is an ISO 9001: 2008 certified company and a member of the Indian Green Building Council. Since its inception in 1978, the company is committed in making workplaces safe. It provides a comprehensive range of services in construction – addressing the complexities in concrete frame engineering, high-end finishing or onsite fabricated construction.
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A Personality that Demands Quality, Safety and Timely Delivery
Ashish Krishnaswamy Managing Director
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Ashish Krishnaswamy, Managing Director at KNK Construction, is a civil engineer who always waited to enter into the construction business. He is a MBA holder from IIM Bangalore, having a considerable experience working in multiple sectors including commercial, education, healthcare, hotels, leisure, industrial, infrastructure, mixed-use, residential, retail, sports and education, with each business having its own requirements. He is a member of FKCCI, and INSTRUCT (Institute For Research Development & Training Of Construction Trades and Management). July |2018|
KNK Construction was started as a niche company in 1978 to meet the needs of clients while delivering topclass construction quality and practices at a time when construction practices were mostly disorganized in India. Speaking about the impact of Demonetization, RERA and GST, Ashish states that the triple impacts have brought dramatic changes in the construction business environment in India. The implementation of these landmark developments within a short span of time is bound to create shortterm problems till the country’s economy gets accustomed to it. However, he feels in the long term, all these are certain to make the industry more transparent which will boost the confidence in India. Commitment to Innovation and Excellence The company invests in infrastructure that is backed by efficient maintenance to execute world class, highly mechanized construction. Ashish articulates, “Where the beauty of a building meets the strong construction foundation, that will sustain the buildings for a lifetime, we stand there.” The firm believes in combining the scale and capability along with the speed and agility in delivering the services. Projects are undertaken with infrastructure owned by the company to ensure dependability. It has successfully morphed into a large corporation offering a wide range of solutions for every conceivable nature of building construction. Quality being the motto of KNK; safety and delivery are the cornerstones on which they have built their brand. For KNK, safety is first and business is next. The company continues to invest heavily into technology, enabling delivery of projects ahead of time. Focusing on
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commercial and industrial projects, the company considers the quality of the occupant and the profile of the company building it. It has seamless partnership with the clients and consultants in every project it executes. The company always works towards enhancing the efficiency of the project through value engineering and total solutions. The company is extremely process driven and has been able to percolate the values and professionalism to all levels within the companies and also to its workforce. Highly Focused, Motivated and Competent Team KNK has been attracting, holding and molding the finest engineering talent. People are the company’s most valued asset – its core strength. It has an integrated management support for all the departments. The company operates in a spirit of cooperation and value human dignity. It believes integrity is at the heart of an individual and the corporate actions. The professional team of KNK Construction is committed in achieving customer delight and loyalty by ensuring quality, safety and timely delivery of its products and services. Growth Drivers of KNK The company is passionately focused on serving the clients and helping them achieve their business objectives. SQDCMC – Safety, Quality, Delivery, Cost, Management, and Communication are the growth drivers of the organization which gives visibility and helps in decision making and seamless execution. It has been proactively conceiving, developing and implementing unique safety programs and mechanisms to achieve high standards of safety. Everyone from the management to workman at site is involved in making the workplaces safe.
“Lead rather than follow is our approach towards Statutory Compliance and Safety” Paving Path towards a Bright Future KNK Construction have one of the fastest and most consistent growth rates in the industry with a CAGR of 30%, a turnover for FY 16-17 stands at Rs.304 Cr. and is aiming positively to achieve Rs.1000 Crores turnover in FY 21-22 with a diversified portfolio with Industrial, Commercial, Residential and Infrastructure projects PAN India. The company’s most valued asset team, work force and associate partners (vendors) will be the catalysts in achieving this milestone. Expanding to the housing sector, the company also expects to raise the benchmark for quality and delivery.
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Rutu Group: Bringing Client Aspirations and Dreams to Splendid Fruitions
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After all it’s not about purchasing a place to live but participating in a bright and happy future
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eal estate is one of the major contributors to the Indian economy which supports numerous ancillary industries and provides employment to millions. The real estate market is projected to expand its reach to about 180 billion USD in the coming years. The construction industry ranks third among the fourteen foremost sectors making direct, indirect, and induced effects to the Indian economy. The much-needed and growing infrastructure needs have influenced the construction and the real estate companies to make the market more transparent for its customers. These professional players and organizations with expertise in real estate are improving the infrastructure facilities. Additionally, the demographics, increasing purchasing power, the existence of customer friendly banks and housing finance companies are helping the real estate sector becoming a more buyer cordial market.
One such trustworthy, innovative and naturefriendly company is Rutu Group of Companies, founded in 1979. It has paved a creative way to be the leader with its meticulous experience of more than three decades in the real estate sector. With the vision to anticipate the needs of the customers, the company keeps on working on the gigantic real estate projects with flexibility. It is constantly fulfilling its client’s aspirations and dreams with prominent dedication. Rutu Group of Companies is a master planner and has incessantly built up its esteem by undertaking and completing thirty-five world-class real estate projects in Mumbai, Thane, Kalyan, Gujarat, and other prominent regions in India.
Mukund Patel Managing Director
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Rutu Group of Companies also has the vision to conserve nature. The company’s initiative of July |2018|
‘Plastic Free Thane’ in association with the Rudra Environmental Solution (I) Pvt. Ltd. – a Pune-based organization is playing a proactive role in reducing the use of plastic bags in Thane. This act of appreciation and recognition achieved success under the guidance of Dr. Sangeeta Patil who heads Rutu Group’s CSR activities. Torchbearers of the Company With efficacious and pioneering real estate strategies, Mukund Patel is the Managing Director of Rutu Group of Companies. He is a civil engineer and has completed his M.S. from the USA. He has a marvelous experience of more than two decades in the real estate industry. The company has competed plentiful of projects in Mumbai and Thane under his assistance. He proclaims that “when progress is nature-friendly, it is sure to be happy & secure; as the best future is a sustainable future”. He believes in raising the benchmark with each and every real estate project innovation. Another idealistic personality and forerunner is Pratap Patel, who predicted and understood the need for quality housing landscape for Rutu’s inception. He is a civil engineer by qualification with exclusive experience of more than five decades in the real estate development and construction industry. He has played a dynamic role in the completion of the real estate projects in Maharashtra and various other projects related to roads, canals, and tunnels. His long-standing relationships and pioneering leadership in the corporate domain are the driving force behind Rutu’s persistent progress. Quality-based Business Philosophy The enterprise proudly focuses on quality, trust, and innovation while undertaking a specific construction July |2018|
project. It conducts its construction operations with an enduring dedication, and passion, ever since its inception. It offers a quality lifestyle. Rutu Group of Company has underlined all the smart amenities mandatory for a smart and jubilant lifestyle. The amenities include solar power generation, hi-tech security system, ample parking space, and rainwater harvesting. Along with this, it provides eco-friendly solutions and healthy lifestyle with good ventilation, natural light & anti-termite treatment. The projects undertaken by the company are more commodious, comfortable, and designed with earthquake resistant RCC structure. These real estate structures are developed in the pollution-free and noise-free environment. It presents an urban lifestyle with enhanced facilities like well-developed roads, sufficient electric, water supply, and much more. The company is cementing healthy and quality lifestyle.
concentrates on creating an ecofriendly environment that typifies world-class real estate craftsmanship. Rutu’s success mantra is to evolve and adapt to the changing time. This helps the enterprise to attain stability and withstand the complexities of real estate market to shape successes one after other. The company is paving its way towards relentless growth by transforming the regions into a wellplanned, eco-friendly, and luxurious residences.
Enthralling Success Pathway
Future Endeavors
Team Rutu has strived hard to provide value for client’s money, which has assisted to maintain transparent relationships and energize the company’s success pathway. The enterprise is fueling its growth and achieving wider success with its upcoming projects in Mumbai, Thane, Kalyan, Boisar, and Ahmedabad. These projects will endure the company standards and take it beyond the emblematic perceptions of achievements. The organization acutely
Rutu Group of Companies promises to integrate the new-age technology and ingenuity in the construction industry in the coming future. With its steer governance, it plans to pave the most possible creative solution to satisfy its customers. Team Rutu is committed in going beyond the horizons to shape a better tomorrow prioritizing its revolutionary ideas and corporate social responsibilities.
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Editor’s Insight
Tech-enabled
Construction Crafting a Better Future T
oday, the national and global economies are on a consistent booming pathway. There is an upsurge in the use and implementation of cutting-edge technology in the construction-tech companies. Recognizing these technology trends, many construction-tech solution providing companies are focusing on its usage and adoption. Additionally, these global corporations are now majorly swinging their interest in executing sustainable construction procedures thereby leading to an increase in sustainable building materials reaching to the masses. It is essential for the construction-tech companies and developers to adopt the ecological values which can ensure sustainability and longevity to withstand the market complexities. The customers and corporations are shifting towards preserving the environment and the construction-tech industry is following the suit. Besides, rapid population growth demands an eco-friendly environment to live in. There is a need for strategies that provide alternative construction solutions to safeguard the environment. Therefore, the construction-tech companies are planning to implement costeffective eco-construction practices. Using Eco-friendly Material Sustainable tech-based construction operations can involve the use of environment-friendly and non-toxic paints, solvents, and building materials. This can enhance an organizations’ productivity highgrounds in the construction-tech industry lending a hand towards construction of an eco-friendly building. This creates healthy and safer indoor spaces in homes, offices, and recreational areas. Besides, the integration of eco-construction practices in the technology will prove
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Editor’s Insight
to be a long-term benefit for commercial and industrial buildings leading to the end-to-end customer satisfaction. Using the safe, natural and readily available insulation material like the sheep’s wool can prove profitable for the construction. The recycled cotton sourced from shreds of discarded clothing can be a strong move towards non-toxic insulation and sustainable construction. Also, the by-product of the timber industry wood fiber made from wood chips can represent a good eco-friendly insulation option. Reducing the Demolition Procedures Instead of dumping the hazardous materials like concrete and structural steel into landfills, these can be recycled and reused for various other tech-based construction operations. Using the industrial crushing amenities, the small-scale as well as large-scale construction-tech organizations can recycle these materials into dry aggregate for new construction operations. This would provide the organizations with a substantial savings opportunity and can help reducing the demolition construction procedures. It will also aid and cut-costs associated with the disposal of toxic materials from the site. Additionally, recycling and reusing the carpet, flooring and ceiling materials can be a small but strong move towards eco-friendly construction environment. Implementation of Locally-obtained Resources Construction materials are transported over an extremely long distance with greater consumption of energy in that transportation phase. But emphasis can be placed on the use of locally-sourced
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materials with green construction. Also, this would reduce the carbon footprint, and creates a far more efficient tech-based construction processes. The use of the resources available in any city or town can help, support, and grow the local businesses on a large scale. Conserving and Recycling the Water Water is the key enabler for every construction-tech operations; residential, industrial or commercial. Hence, water must be conserved to power the implementation of ecoconstruction processes into any kind of construction-tech project. This can involve simple techniques like rainwater harvesting and or watershed management. This collection and storage of rain-water can be used for landscape irrigation. In addition, the recycled rain-water and its condensation from HVAC units can also be collected and used for same causes. The construction-tech companies can take advantage of recycling water through readily available water resources which would otherwise go down the drain. Long-term Sustainable Solutions With the soaring energy costs, investing in solar power could be a long-term sustainable solution for techbased construction companies. It can cut-costs, reduces grid reliance, and lessens the strain on electricity providers. The construction companies can transform the rooftops of the homes and buildings into generators with the use of this solar power and maintain a good electricity flow. To take one step further, use of photovoltaic windows consisting of solar cells can boost the operations controlling interior temperature.
Another way to execute successful eco-friendly construction practices can be achieved through the use of wind power. Having turbine fans at the rooftop of a building can help in producing energy and also reduce electricity consumption. Besides, they require little maintenance, maintain indoor air quality, and reduce utility investments. Appropriate Use of Land With the increasing population, urbanization of smart cities is also on its way. Planning for green space and multipurpose areas can be significant in avoiding land degradation. The construction techniques can support the ideology of eco-friendly tech-based construction with the suitable use of landscape. Appropriate use of land by the builders, architects, and designers while developing a building, will encourage the addition of green spaces on rooftops or in other parts of that building. This will provide the masses with a multiuse space. The future construction world would witness transformations with more sustainable and alternative construction methodologies. However, creativity and innovations in tech-enabled construction practices will ensure the maximum longevity of resources for future generations. Also, these innovations will be the cornerstones of the developments and could help in leaving a better landscape for next-gen. Eco-construction practices and technological advancements will open the future doors for the green construction leading to a cleaner and greener construction-tech world.
July |2018|
Vascon Engineers Ltd: Taking Indian Construction Industry to Newer, Bigger Milestones
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We don’t just construct; we engineer success
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he development of Indian construction industry is creating excellent opportunities for the existing and budding engineering and construction (E&C) companies. This industry is on its way to take a gigantic shape with the help of liberal and supportive government policies coupled with the deliberate strategies. Majority of the organizations are focused with a vision to be the best of its kind. Also, forecasting the future construction trends and embracing every errand are helping them to come up with innovative solutions that are transforming the Indian construction industry.
Vascon Engineers Ltd is one such organization working on a mission to build a landmark in every location and set new standards, to be emulated by peers in the construction world. Founded in 1986, the organization has more than three decades of experience in conceiving, developing, and managing varied construction projects. It enthusiastically works in diversified sectors including residential, industrial, IT parks, malls, multiplexes, hospitality, community welfare centres, schools, and hospitals. About the Cornerstone of the Company
R Vasudevan Chairman
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R. Vasudevan is the Chairman at Vascon Engineers Ltd, Pune. He is a civil engineering graduate from COE, Pune. He has also completed an ‘Owner President’ management program from the Harward Business School. He has an exemplary expertise about the construction industry with a spectacular experience of more than four decades. He is responsible for the overall management of Vascon Engineers has been instrumental in bringing it from scratch to the position of eminence. His innovation of JDA model of real estate development proved to be unique which helped the company to grow a successful size and stature. July |2018|
Vasudevan with his set of EPC and real estate business skills trained the inhouse personnel enabling the company to establish itself as a brand. Vasudevan had received many accolades for his contribution in the field of construction and Real Estate Industry. These awards include the “Top Management Consortium Award of Excellence”, “Construction World Top Builder Award”, “Life Time Achievement Award” by the Alumni Association of College of Engineering, Pune. He was honored by the South Indian Education Society as distinguished alumni. Furthermore, he has also been felicitated with “Life Time Achievement Award” at the 9th Realty Plus Award Event. Under the leadership of Vasudevan the company has added many gems to its foundation including “BAI Universal Award”, “HR Award”, “Construction Week award”, “Zee Business RICS Award”. He has helped the company to expand its reach and be amongst Indian’s top most builders. Astounding Services Benefitting Clients “We work to be the engineers of choice for quality construction and pathbreaking development projects all over India. Also we are committed to corporate governance with the objective of generating long-term economic value for all the stakeholders” Since inception, Vascon is committed to applying the art of value-based aesthetics into the science of construction through efficient engineering. The organization focuses on understanding the customer’s needs, expectations and delivers services with an integrated approach and mechanized inventory of machinery and equipment. July |2018|
Vascon has an SAP-ERP covering project systems and high-tech EPC strengths which aim to deliver overall customer satisfaction. The company’s emphasis on innovative Technology & optimized construction helps it to design, construct and deliver the projects in a cost effective and timely manner. Diversity of experience gives it the flexibility to adapt to the needs of the customers. Qualified, proven project team and experienced management team offers services from ‘Concept to Completion’ to the client on a turnkey basis. Vascon’s extensive experience and proficiency enables it to understand and assess project risks, complex technologies, location difficulties, and helps to create effective construction solutions. Unlocking the Success Doors company fully appreciates the importance of adopting high standards of corporate governance in all operations and processes setting a high benchmark. Spanning operations across eleven states, Vascon Engineers has grown from an EPC player to a real estate developer.
Team Vascon is mainly made up of engineers backed up by highly qualified specialists from various fields of management which helped the company to withstand the market complexities. These professionals follow well-documented systems and procedures right from planning and procurement to testing and execution which enabled the company to swim through the successive waves of challenges. The company has a vision to anticipate and prepare for the challenges and react to the dynamic industrial scenarios. It also ensures occupational health & safety aspects of personnel, material and equipment at its workplace to achieve zero accident goals.
Futuristic Approach
The key attributes which unlocked the success doors for the company is transparency, disclosure, supervision, internal control, risk management, internal and external communications, high standards of safety, accounting fidelity, product & service quality. Also, the Board of Directors of the
Vascon Engineers is planning to head towards being amongst the top three real-estate developers of Pune in the near future. With the same consistency and dedication its future approach is to be amongst the top five E.P.C companies in the Indian construction industry.
Today, the company’s achievements range from sprawling factories to premium homes, from glittering malls to towering software parks and classy elegant schools. As such, Vascon has been able to strike the right balance between efficient engineering and thoughtful development in every project Y-O-Y across the country.
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GDPR What it means for Indian Businesses?
W Seema Jhingan
Partner & Co-founder LexCounsel, Law Offices
About the Author Seema Jhingan, a senior Partner and Co-founder b LexCounsel, Law O ces, has over twenty three years of experience. She has extensively advised in areas including Mergers & Acquisition, Education Laws, Defence & Aviation, Venture Capital & Private Equity, Franchising, Media & Entertainment, Software/Information Technology, General Corporate and Commercial.
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ith digital and cross border transactions growing at an exponential rate, protection of personal data has become a critical issue with multi-jurisdictional implications. The recent and most significant example of protection of personal data being that of the European Union’s (“EU”) regulation on protection of natural persons with regard to processing of personal data and free movement of such data (“General Data Protection Regulation” or “GDPR”) that came into force from May 25, 2018 onwards. GDPR on account of its extraterritorial applicability has given rise to certain significant questions on its implications on non-EU organizations, which I have attempted to address below. Does GDPR apply to Indian Companies? One of the key underlying principles of GDPR is to ensure that when personal data of persons staying in EU is transferred to non-EU countries, the GDPR’s data protection safeguards goes with such data. To put it simply, GDPR has an extra-territorial application and even applies to processing by entities situated outside EU, of personal data of persons of EU in relation to offering of goods or services to such persons or monitoring their behaviour in so far as it takes place within EU. Consequently, Indian entities who are acting as either a ‘controller’ (i.e. the person who determines the purposes and means of the processing of data) or a ‘processor’ (i.e. the person who processes the personal data on behalf of the controller), of personal data of EU residents, become subject to GDPR. GDPR therefore is likely to have significant impact on the technology/data processing Indian July |2018|
Leader’s Insights
companies operating in say the information technology, international e-commerce, outsourcing sectors. When is cross-border data transfer to non-EU countries (like India) permitted? Adequacy Decision: GDPR permits international data transfer to non-EU countries, subject to European Commission’s (“EC”) decision that they ensure an adequate level of protection. However, so far, the EC has granted such ‘adequacy decision’ to only a handful of countries and India is not one of them. Alternative Appropriate Safeguards: In the absence of an adequacy decision, for cross-border transfers of personal data to India, the ‘controller’ or ‘processor’ should provide for appropriate safeguards, such as adoption of preapproved (GDPR compliant) binding corporate rules by multinational companies for transfer of personal data to their group companies in India; making use of standard data protection clauses adopted by the EC or supervisory authority; or adoption of pre-approved codes of conduct drawn up by associations/ bodies representing categories of controllers or processors. Other Exceptions: Cross-border transfer of data can also take place in certain specified situations such as where explicit consent of the data subject (after being informed of the possible risks) has been obtained or where transfer is necessary for reasons such as performance of contract between data subject and controller; public interest; for establishment, exercise or defence of legal claims; for protecting vital interests of data subject or other persons, or where the data subject is physically/legally incapable of giving consent, etc. What are the Key Implications for Indian Companies? It has become imperative for Indian entities handling personal data of EU residents, to implement the data protection requirements stipulated in GDPR within their systems, particularly as their EU counterparts are likely to insist on compliance with the GDPR as part of their standard contractual clauses given the heavy penalties associated with GDPR non-compliance and regulations governing cross-border transfer of personal data. GDPR compliance for Indian companies can entail a significant overhaul and re-writing of their privacy policies and contractual arrangements with EU counterparts and data subjects and internal data protection protocols and systems to make them GDPR compliant. Depending on the July |2018|
role of the Indian entities vis-à-vis the obligations imposed on ‘controllers’ and ‘processors’ under GDPR and their applicability, this may inter alia include:
Ÿ Provision of additional rights to data subjects as available under GDPR such as fair and lawful processing of data (which inter alia requires that the data subject be informed of the existence of the processing operation and its purpose); rights to obtain rectification of inaccurate personal data, right to obtain from the controller the erasure of personal data concerning without undue delay in prescribed circumstances, right to data portability, to be informed if the data is to be processed for other purposes, etc. Ÿ Obtaining of consent which is specific, informed and unambiguous. While, this could include ticking a box when visiting an internet website, but silence, pre-ticked boxes or inactivity would not constitute consent. If the processing has multiple purposes, consent should be given for all of them. Ÿ Implementation of other appropriate technical and organizational measures to inter alia ensure security and safety of data; meet the principles of data protection by design and by default (such measures could consist, inter alia, of minimizing the processing of personal data, pseudonymising personal data as soon as possible, transparency with regard to the functions and processing of personal data, enabling the data subject to monitor the data processing, enabling the controller to create and improve security features); due reporting of data breaches within a specified time period; appointment of data protection officers and carrying out of data protection impact assessment where applicable. The operational compliance burden and associated costs with GDPR may prove to be substantial, particularly, for smaller companies (especially startups operating on shoestring budgets). That said, the Indian Government is seeking to further strengthen its regulatory framework for data protection and privacy and Shri B. N. Srikrishna Committee is soon to suggest a new data protection bill, the data protection compliances are likely to become a matter of utmost significance for all Indian companies in the future (and not just with companies having business interests in EU).
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