The 10 Most Admired Project Engineering Companies

Vol.8/ Issue-4

www.insightssuccess.in

Company of the Month

1 T h e

Gaurav Moudgil Founder & Managing Partner

Global C

Most

Admired

Project Engineering

Companies Mr. G. Thiyagu Founder & CEO

Sathlokhar Synergys A Frontrunner in Building and Turnkey Construction

Editor

From the

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The Role of Project Engineering in the Economic Development

ith technology playing an equal part, Project Engineering is acting as one of the major catalyst in driving the Indian economy to the next level. It is playing a pivotal role in empowering the growth & development of the country’s economy alongside enhancing the lifestyle of the citizens. Reaching out with not just buildings, bridges, and tech solutions, it is at the helm of offering ample employment opportunities to the youth. Showcasing a noteworthy index, the project engineering space is putting its best foot forward in contributing to the economic development with the micro to large-scale progressions.

The existing as well as the budding project engineering solution providers are becoming a robust link between the country’s engineering capacity and its ever-evolving economic infrastructure. The development and uptake of information & digital technologies across the project engineering space is fostering the waves of innovation also known as ‘Kondratiev’ waves to create a more sustainable ecosystem for the Gen Z. These advancements are helping the Indian economy to surpass global challenges and be at the forefront of resource efficiency and monetary amendments.

With each passing day, the project engineers are leveraging tech-enabled advancements for the betterment of the economy through a plethora of channels. Being amongst the powerful gamechangers of all times, they are keeping no stone unturned in contributing to the Indian economic development. The future engineering world will continue to witness challenges, facilitate education & healthcare, offer quality life, and mitigate poverty, thereby adding an extra plus to the economic development.

Editor-in-Chief Pooja M. Bansal Managing Editor Rahul Niraj Executive Editor Devasish Kanojiya Art & Design Head Amol Kamble Associate Designer Poonam Mahajan Art & Picture Editor Rahul Kavnekar Co-designer Shweta Ambilwade Business Development Lead Tejaswini Whaval Business Development Executive Vaishnavi Salunkhe Technical Specialist Amar, Pratiksha Digital Marketing Manager Prashant Chevale SME-SMO Executives Manoj Shelge Circulation Manager Tanaji sales@insightssuccess.com

August, 2019 Corporate Ofces: Insights Success Media and Technology Pvt. Ltd. Ofce No. 22 & 510, Rainbow Plaza, Shivar Chowk, Pimple Saudagar, Pune, Maharashtra 411017 Phone - India: +91 7410079881/ 82/ 83/ 84/ 85 Email: info@insightssuccess.in For Subscription: www.insightssuccess.in

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CONTENTS Cover Story

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38 Industry Insider Indian Commercial Real Estate Beckons NRIs

Article 20

Sathlokhar Synergys A Frontrunner in Building and Turnkey Construction

Future is Now Project Management Trends The Breaking Points

Company of the month

30 IDAX Consulting & Research Pvt. Ltd

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A Premium Quality Control Laboratory and Engineering Consultancy

34 Kirby Building Systems, India The Prime Indigenous PEB Enablers

Global C A Preferred Project & Development Management Firm

Interview with Insights Success

36 Petrokens Engineering

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Redeď€ ning Technology-Services Sustainably and Innovatively!

Goldmine Project Consultant Mastering the Art of Stylish Living

The Go-getters of the World of Project Engineering

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hile the first quarter of 2019 was an enthusiastic year for the Project Engineering space, the second quarter has taken it beyond the success horizons. Recognizing the companies that are revolutionizing this space and keeping innovation on their radar by staying up-to-speed with the developments, we have come up with this special edition of “The 10 Most Admired Project Engineering Companies”. This issue has featured a handful of professionals offering a diverse and engaging mix of creativity and distinctiveness. This edition of ours will help you to walk through a list of ventures embracing multi-disciplinary approach and covering a range of relevant issues in its sector.

On the Cover of the issue is Sathlokar Synergys Private Limited – an EPC & Infra Turnkey contracting company. The company is outshining its competitors with its innovative solutions and redefining the Project Engineering Solution Providers segment.

Apart from such an insightful cover story, we have also enlisted Global C as the ‘Company of the Month’, which is an ace project & development management firm aiming to create and pass on a better earth to the Gen Z; IDAX Consulting & Research Pvt. Ltd. – one of the finest Quality Control Laboratory & Consultancy firms in the country with ultra-modern quality control facility with highly experienced technical experts; Kirby Building Systems and Structures India Pvt. Ltd. – offers one of the most comprehensive product portfolios for Steel Construction in the country and Petrokens Engineering and Services Pvt. Ltd. – an ISO 9001:2015 certified company renowned in the Engineering consultancy services domain.

Alongside, companies like Sijcon Consultants Pvt. Ltd., Astute Engineering Services Pvt. Ltd., Technosphere Labs Pvt. Ltd., Novem Solutions Pvt. Ltd., and Dhargalkar Technoesis (I) Pvt. Ltd. have also been featured in the listing of this edition.

While flipping the pages, take a note not to miss out an exclusive Interview with Mr. Ketan Sheth – Founder, MD & Principal Designer of Goldmine Project Consultant Pvt. Ltd. and an article Indian Commercial Real Estate Beckons NRIs by Shajai Jacob, CEO – GCC (Middle East) – ANAROCK Property Consultants.

Turning some more pages will help you find an article titled as Project Management Trends: The Breaking Points. These articles will help you understand the current market scenario of this industry. Looking at the emerging opportunities and the growing possibilities, this issue of ours will introduce you to a whole new world of novelty.

So enjoy the exciting read!

Mr. G. Thiyagu Founder & CEO

Sathlokhar

Synergys

A Frontrunner in Building and Turnkey Construction “Growing Together and Winning Together has led us where we are today�

Cover Story

Showcasing the perfect blend of above knacks, this excerpt talks about the inspiring journey of Sathlokhar Synergys Private Limited.; an EPC & Infra Turnkey contracting company, which has created a benchmark in the engineering industry with its comprehensive solutions. Established in 2007, it is also an authorized ‘Government approved A Grade’ (EA 3018) Electrical (HT&LT) Engineers & MEP Turnkey Contractors.

Disrupting the field of construction and infrastructure development of buildings for more than two decades, the founders of the company consistently strive to transform the lives of its clientele by embracing newage global trends. With offices in Chennai, Bengaluru, Hyderabad, Andhra Pradesh, Kolkata, and Pondicherry, the company converts every challenge into an opportunity and brings an unmatched experience to the table.

Be it Industrial, Commercial, Institutional or Hotels/Resorts, Residential, and Solar projects, Sathlokhar Synergys stands tall in efficaciously planning and executing those with utmost excellence. The core team of 114+ in-house professionals,

who helped the company in scripting its success saga, includes Architects, Structural Consultants, Interior Designers, Electrical Consultants, HVAC, Plumbing and Fire Fighting Consultants, and Execution Engineers.

Since inception, the combined endeavors of these proficient experts and 986+ in-house Labor Strength has helped the company to successfully complete diversified projects and serve several National & Multinational clients. Embracing end-to-end contracting for large scale construction projects, Sathlokhar Synergys has attained exemplary expertise in crafting out steel structures as well as warehouses and industrial buildings.

The core elements which help it take a deeper dive and withstand the complexities of the market include: • Passion • Quality • Leadership • Trust A Multifaceted Persona With close to two-and-a-half decades of rich experience in infrastructure projects, Mr. G. Thiyagu along with Sangeethaa Thiyagu are the Founders of Sathlokhar Synergys.

They are both engineers who work round the clock to assure Professionlism. A Leader by Mind and Teacher by Heart, Mr. Thiyagu’s passion to enlighten the young minds to be the leaders of tomorrow, is what makes him the torchbearer of the company. Surpassing industry challenges has never been easy for the company, but he has been the driving force behind creating a win win situation and enabling the company to reach the epitome of success.

Over the years, Mr. Thiyagu along with his team has completed various projects in areas of Civil, Electrical, Mechanical, Plumbing, HVAC,

‘‘

We don’t grow our business on Capital,

‘‘

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he Engineering Industry has never been an easy cup of tea for the budding entrepreneurs as well as startups. For establishing an empire of its own, it is necessary for any entity to be at the forefront of innovation and creativity. When it comes to client requirements, quenching the needs of the clientele with quality deliverables has always been the need of the hour. Besides, systematic implementation of quality control management is a prominent move towards creating a niche in this sector.

We grow it on Trust

Award & Achievements

Mahatma Gandhi Samman Award

Interiors, BMS, Fire Safety Equipment, Boilers, Air Compressors, Lift systems, Water & Effluent treatment plants, Pneumatic Airlines, and all statutory approvals.

He has a wide-ranging experience across several industries like Leather, Automobile, Air Conditioning, Garments, Pharmacy, IT, Distilleries and Hotels. As a seasoned entrepreneur backed by immense experience in several fields, Mr. Thiyagu is placing his best foot forward in contributing to the Indian economy.

What Triggered Success?

Talking about Sathlokhar family Mr. Thiyagu says, “We at Sathlokhar believe that every employee is a part of our big family. We value every member in Sathlokhar family as our own. We motivate every employee in our company not just with incentives, but by increasing their value and recognition, which we believe drives them towards the growth of this company.”

The qualities which help Sathlokhar Synergys to outshine its competitors and represent the industry as a one-of-its-kind dominant player consists: On-time Project Delivery – Its on-time completion of projects and delivery of products & services fueled by Time Management Project Team helps it to guarantee complete client satisfaction.

Strong Communication – The Company follows a

Our Founder Mr. G. Thiyagu has received “Mahatma Gandhi Samman Award 2018" from the NRI Welfare Society of India at House of Commons, London

Fast Growing Indian Company Awarded on the Occasion of National Seminar for the Outstanding contribution to the National Development by International Achievers Conference at New Delhi

Engineering & Construction Excellence Award Sathlokhar has received the “Most Promising Company ( Engineering & Construction) Excellence Award 2018" from All India Achievers Foundation.

Outstanding Achievement Award for Business Excellence Our Co-founder Mrs. Sangeethaa Thiyagu has received “ Outstanding Achievement Award for Business Excellence 2018" at Bangkok.

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Disruptors of today’s Construction Industry

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curated communication system across its work environment and maintains a trustworthy client-company relationship with its experienced Communication Management Project Team.

Uncompromised Quality & Safety – Quality and Safety are the key aspects the company strive for in order to satisfy the existing and engage new clientele. It is well-equipped by licensed Quality & Safety Professionals with advanced expertise in Occupational Health & Safety.

Sustainable Design Approach – The Company rolls out novel designs by embracing tech-enabled innovations alongside endeavoring for environmental sustenance.

Value-for-Money and Customer Satisfaction – Trust and Customer Satisfaction is what matters the most at Sathlokhar Synergys. Valuing every penny, its certified team of experts is committed to ensuring high RoI. Loyalty & Respect --When it comes to expanding Trust and Reliability in its service offerings, the company is

recommended as an ideal choice by its esteemed client organizations globally.

Flexibility in Design and Implementation – The Company has an efficient Change control processing and Management system in place, which focuses on keeping the clients updated about the implementation of new adaptive zones in the phases of design & construction. Right from placing the first brick, till the completion of projects, Sathlokhar Synergys firmly believes in going hand-in-hand with its customers.

Powerful Management in Place – One of the significant cornerstones which helped the company to attain a strong foothold in its sector, is its Powerful Management. This management is defined by a Dynamic Team of Project Managers, Scope Managers, Communication Managers, HR Managers, Time Managers, Quality/ Safety Managers, Client Relationship Managers, etc.

Motivational Snapshots from the Leader’s Desk Team Sathlokhar appreciates those who aspire to build their own kingdom and be the master of own creativity. An inspiration to countless professionals, Mr. Thiyagu asserts that “Success doesn’t come just with ambition. We need to work collectively to build something strong, something unique, something special which only a passionate heart can do.

Desperation will lead you to Deliverance. Have a hungry ‘mind’, never failing to learn more.”

“Start small. It’s okay to have humble beginnings. Learn to climb the first step of the stair; the rest will take its course. Soon enough you’ll find yourself on top. The competition is always going to be hard. Sometimes it might make you want to quit. But, beginnings are always the hardest.

Have a strong vision, set up a target.

Prepare a route to get there. If it’s a shortcut, good! But sometimes they have their own short comings. We need to learn to be patient,” he added further.

Believing that a good leader leads you and a great leader creates a leader in you, he advices the young minds to choose their career wisely, but/and be wiser in choosing their mentor. Giving some more insights he said, "Water your seed and watch the plant grow in its own time. There is a time to sow and a time to harvest. The one, who truly waits, reaps what he sowed.”

Defining Future with Enthusiasm Sathlokhar is planning to expand and continue its uncompromised passionate services in the future with the same energy and grit. Its Vision, Mission, and Policy which efficaciously determines its future and empower it to keep achieving more milestones propose the following: Vision • To nurture a winning network of Clientele and Suppliers; Together it creates mutual, enduring values.

• To be highly effective and attain the highest standards of Customer satisfaction.

Customer Loyalty & Transparency

Excellence in Problem Solving

Commi ed to excel by consistent development

Adherence to Global standards and laws

Mission • To provide the best Infrastructure and Prompt services • To constantly adopt Innovative methods in construction practice; Thereby protecting the Environment and Society Quality & EHS Policy/Goal • The company is committed to excel by consistent development & quality assured deliverables along with innovative solutions keeping in mind all applicable environmental, health & safety requirements, thereby exceeding the client’s expectations.

• As a responsible Corporate Entity, it has been actively contributing to the Socio-economic development of several communities across India, aiming to set its milestone as a Successful Synergy of Corporate Experts & Professionals.

Corporate priority

Goal Oriented team approach

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What we do, we do best

‘‘

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We strive to sculpt a New Era and shape a Better Future

Passionately Commi ed Team

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ith the advent of a robust regulator across the Banking Debt Sector and CREDAI / RERA guidelines in India, it has become necessary for the professionals in the construction industry to embrace these transformations.The country is demanding a modernized construction sector which can quench the needs of the customers to its best! Established in 2006, Global C is one such ace project & development management firmaiming to create and pass on a better earth to the Gen Z.

With offices in, Gurgaon, Chandigarh & Madrid, the firm is rolling out novel

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concept-to-commissioning services for Buildings & Urban infrastructure across India and overseas with utmost proficiency. Team Global C is wellversed with the global industry dynamics which helps it in bringing exquisite services to the table. Since inception, the company is on a mission to become an end-to-end solution providerby consistently delivering innovative, cost effective, and value added consulting services globally.

This consistency helps the firm to ensure growth and professional excellence in its sector with its unique core competencies.

Global C is making concrete endeavors in contributing to the upliftment of the August 2019

August 2019

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client organizations with well-defined business decisions. The core values which helped the firm to create a prominent niche in its sector include: • Integrity & Professional Ethics • Collaboration & Trust • Innovation & Creativity • Deliverance Over the years, these deep rooted knacks have helped the firm to engage a curated list of prestigious clients in Healthcare, Hotel Development, and Industrial & Mass Mixed Use Real Estate Developments.

Meet the Cornerstones Gaurav Moudgil is the Founder and Managing Partner of Global C. He is an alumnus of University of California – Berkeley and Punjab Engineering College (PEC) – Chandigarh. He specializes in Engineering Project Management, Risk Management, andStructural Engineering.Later, the foundation of the firm was made even stronger with Aman Moudgil – an alumnus from Panjab University joining the foray. As Co-founder and

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Joint Managing Partner his expertise lies in Development & Coordination for MEP (Mechanical Electrical & Plumbing), IT & Smart Building systems. Their combined experience in construction and embracing international standards has been instrumental in Web Collaboration, Building Information models, and boosting the projects performance & development of the firm.

A Key Pillar & Mentor of Global C is Deepak Moudgil – {Retired Director Projects at Engineers India Limited} an visionary with a prime focus on Technology and strong Contract Management expertise.He has a wideranging experience covering the entire management chain fromProject Management, Procurement, and Tendering & award of works to Costing, Planning, Construction Management, Technical Auditing and Corporate Administration.

Why Global C? “We strongly believe that leadership is all about ‘Blood, Sweat, and Respect’.

The first two you give and last one you earn,”says Gaurav.

The firm continually strives with the same vision blended with a holistic approach to satisfy its clientele with quality services. It has diversified experience in planning, executing, and completing challenging projects including Multi super specialty Hospitals, Hotels, Integrated townships, Multi storeyed condominiums, Data-Center, Luxury Residences, Diplomatic Consulates, Commercial malls, Office building, Data centers, Cinema halls, Interior fit out projects, etc. The firm takes pride in its associations with the clients which helps it to roll out technocommercial cost-efficient and scalable staffing models, thereby leading to project optimization and efficient use of project capital. Its expertise in Engineering, Design, Liaison, Local relationships, and Procurement Leverage enables it to lessen the capital costs, thus leading to happy customers.

August 2019

Today, Global C has evolved to a onestop full-service project development podium assisting clients in achieving their goals with its core services that include: • Project Management Services • Project Development Advisory • Detailed Engineering Services • Quantity Estimation & Cost Engineering Services The key attributes that helped the firm to stand tall and outperform own milestones comprises of: Reliability – Years of dedicated endeavors has helped Global C to attain a huge knowledge base which provides credibility to its experience and ensureson-time delivery. “Anyone can do our job, but no one can be us.”

Delivery – Team Global C follows strategic inputs and a distinct delivery methodology across all phases of the development cycle from conceptualization to final commissioning.

Expertise – The firm’s in-house capabilities and trade expertise to impart pre construction, planning, design, construction, and occupancy activities successfully meets the project objectives to the fullest.

Risk Management – When it comes to projects like land development, new construction and rehabilitation, adaptive reuse renovation and expansion, the firm proactively identifies, classifies, and controls the risks associated to it beforehand.

Teamwork Matters!

In-depth problem analysis, excessive financial management, and robust contract administration are the key strengths of team Global. When it comes to Vendor management processes, and Material & Equipment Selection, the firm believes in keeping

August 2019

its operations flexible and upto the mark. Efficient project tracking and involvement of senior experienced personnel ensures best-in-class engineering & management practices.

Talking about the priceless assets of the firm, Gaurav asserts, “We strongly feel that a Company or Firm or an Association is a Group of People working towards a greater good not only for themselves but the community in general. If you don’t find either of the two then you don’t belong in that group.”

For the Neophytes Global C truly believes in the words of Steve Jobs that says “Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work.

And the only way to do great work is to love what you do.” It advice the young minds to keep up their hardwork in order to conquer every challenge coming their way, irrespective of its volume. It also advices them to amassing the capabilities of identifying and solving the problems withminimum resources.

The Big Picture Automation, AI, and Smart& Green Materials have already started introducing new chaptersin the Indian Construction sector. Indigenous Manufacturers for Building Products & Equipments need to evolve more robust and efficient assembly & Production capabilities to match omnipresent leaders in the America, Europe, and China and not so far behind evolving Easter Europe and South East Asia. Focus needs to shift from decision based on bottom lines to foreseeing the future. On the other hand, Recycled Building Materials, Clean tech like Solar PV, and Water & Waste Water Management are taking the centre stage.

Acknowledging this scenario, the firm is all set to jump into another ocean byconstruction of composite structures using smart combination of recycled waste and efficient building materials.

For Global, Hospitality is a key ingredient to cook the success cuisine with the evolution of Smart Hotels.Being on the verge of such evolutionary discoveries, the firm is looking forward to associate with the GoI initiatives regarding the ‘Expansion of Airports and Healthcare’.

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Future is Now

PROJECT MANAGEMENT

TRENDS The Breaking Points

C ‘

hange’ is the only constant and true in the Business world. On the other hand, there were no tools or dashboards to oversee timelines and objectives.

But, a noticeable change which has transformed the overall scenario is Project Management (PM). It is constantly changing and evolving the area of business and here are some ongoing trends that may help choosing you the path ahead in project management.

Artificial Intelligence (AI) – A touchstone by which machine learning is judged and assessed AI is unquestionably aiding the

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project management workflow through an interactive interface for the available resources. Therefore, the algorithm-based suggestions conclusively boost the efficiency of the overall process of project management. You won’t be replaced by a limbless drone any moment now but you would better learn to play nice with AI. With the world-altering inventions in steam power, electricity, and the internet, AI is driving the society into a never seen industrial revolution. AI is automating the tasks ranging from scheduling to data visualization.

Predicting patterns based on past activities and compiling further tasks

is an exceptional ability of AI where innovation is outrunning imagination.

AI technologies impacting the largest number of businesses are: Knowledge-based Systems: This system enables to understand the context of the data being processed that supports human learning and decision-making.

Machine Learning (ML): With meager human intervention machine learning analyzes the data by detecting the patterns and improves decision making.

August 2019

Forum’s Future of Work Report, soft skills are ranked as employers’ second most desired skills.

Inclusive Hybrid Approach is the far up priority

Decision Management: It has created a set of processes based on protocols and logic which has automated decision making.

role as a beneficient listener, anticipating needs, adept coordinator, considerate negotiator, and a motivational leader.

Power of Emotional prowess If productivity has to be equivocal to the assigned work driving out the emotional power is imperative. If the technical skills are staying rock steady, the work with diligence and persistence must be ensured at any cost. The better teamwork with people, the higher are the chances of your plans to progress without a pitfall. This ultimately states the project manager’s people-focused

Multitasking is paramount to any machine but it lacks a critical ingredient that is humanity in successful project management. The set of social skills, such as soft skills and skills in coordination, teaching, and negotiating are increasingly regarded as the most valuable professional assets.

August 2019

The most demand-in job skills for 2020 in the World Economic

With the varying and improved implementation of methodologies, the one-size-fits-all approach is being incompetent. The Waterfall techniques are been modified with Agile and Scrum to adopt modern strategies to help various processes of project management. This implementation is the best suiting for the scenarios where larger projects need multiple project managers to be involved in it. Therefore, the corporate world is in considerable demand for a higher number of hybrid project managers who are inclusive to profuse methodologies.

Companies are acquiring simultaneous and flat hierarchy, replacing the linear traditional methodologies for developing products. Not only in software

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development, but Agile principles are also dominating finance, construction, and, marketing sectors. Innovative and trusted processes are coming together in the form of new mixtures.

Kanban Boards Kanban Board refers to “billboard” in English. The theory was initially introduced and implemented by Toyota, the automobile company to improve manufacturing. Now, the theory is widely being integrated into the various action items of the project management methodology. Kanban is a categorization that makes use of visual boards that consists of a set of cards and a grid that helps to manage the workflow. Its implementation is proving helpful as the project managers avoid prominent stagnation in the tools being used for managing the projects thus helping innovation to a greater extent.

It is being more beneficial in smaller Agile projects that undergo many changes. Kanban boards give the leverage of managing tasks in a more centralized way, thereby avoiding inaction.

Improved focus on data analytics and metrics. All the aspects of a project comprise huge data that has to be managed efficiently and optimally. Project managers are leveraging data insights to make informed decisions to execute the project in a better way and increase business growth.

Whether it’s project planning, quality control, or risk approximation, data analytics has already started shaping the project management world. The gathered data enables you to form reliable teams, team size, the inclusion of productive team members and skill sets needed to manage projects better.

Project management: An Eye Hereafter Future predictions say approaches will be customized to suit specific project environments. Mentoring, coaching, and support will gain more prominence where skills will outrank certifications. Project management (PM) trends will constantly change the way large businesses operate, so you with PM at the center of all, may become the driving force of transformation in 2019 and beyond.

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August 2019

GOLDMINE

PROJECT CONSULTANT Mastering the Art of Stylish Living

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he below excerpt is an exclusive interview with Mr. Ketan Sheth – Founder, MD & Principal Designer of Goldmine Project Consultant Pvt. Ltd.

IS: Kindly brief us about your company.

Mr. Ketan: I am the Founder, MD & Principal Designer of “Goldmine Project Consultant Pvt. Ltd.” And on Its board since its inception in December 1989 with a vision of providing turnkey solutions in Design & Build along with other space creatives in Residential, Corporates, Commercial, Buildings, Hospitality, Healthcare, Retail and Education Verticals.

We provide aesthetically designed and immaculately planned project with an eye on fine details that accentuate the particular qualities of a place and conceive our project with efficiency & highest level of professionalism and are able to adapt our creativity to meet the need, desires and expectations of our clients.

Goldmine’s planning and design solutions aim to enrich the lifestyle envisioned for each project. We continuously strive for excellence in design, each project is treated individually and as a team assure prompt response and absolute flexibility to the customers need’s and

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August 2019

Interview with Insights Success

complete the assignment to the extreme contentment of the clients.

Through our projects across market categories we believe in keeping abreast with the changing global trends and staying current with best trade practices which has transformed our organization into a corporatized design firm with finest quality execution & management standards.

IS: Brief us about the Founder/CEO and his/her contribution towards the upliftment of the company. What was the source of inspiration for your company to be a pioneer in the Interior segment?

Mr. Ketan Sheth Founder, MD & Principal Designer

Mr. Ketan: I as the Owner and Principal Designer offers the finest Interior Creative Consultancy in all sectors of design fraternity. Having a vast knowledge in interior designing, I have acquired a degree in Interior Design & Decoration (I.D.D) from JJ school of Arts in Mumbai and later graduated from the Inchbald School of Design in London where I developed an acumen and panache for in-depth creative Designing for Interiors. Conceptualizing exceptional designs, while adhering to the client’s budget and brief along with paying attention to the finer details is my forte.

My focus on space, light and structure, coupled with his selection of material, helps create captivating and dynamic spaces, which exhibit practical and functional planning and detailing. Innovation is my key area of operation.

Designing Is My Forte and “I was lucky enough to be born with creativity and was in love with the idea of breathing new life into a space. One will be surprised to know that I have been a commerce student yet creativity took over my mind”.

“I was bursting with ideas which needed implementation, as creativity was an everyday affair for me, and I knew that only my own company would give me the liberty to play around with new designs.

Hence in1989, I started my own company “Sheth

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Associates” currently known as “Goldmine Project Consultant Pvt. Ltd”.

working and presentation plays a very important role in our interaction with our client.

IS: What are the distinct products and services provided by your company, setting you apart from your competitors?

IS: What are the key attributes that helped your company to overcome the challenges?

Mr. Ketan: We offer services in Architecture Design Consultation, Interior Design Consultation, Design & Build (Turnkey Solutions) and Contracting Solutions (Finishes / Fit outs).

Other than this we provide our clients with value added services which develops faith & trust between both parties.

Whatever projects comes to us, we don’t take it as a formality but we take it very seriously which is for us most important, just on a trial basis we don’t do anything, we get into the depth of it we try to work out the best possible solutions for whatever client’s demands and requirements are, hence give the kind of service absolutely in a proactive manner. We give lot of working in advance and that has helped us in a big way, as a result we build better confidence in clients and vice versa, we are always ready with all our preparation, we try to show them what is going to happen at the end of the project so huge amount of

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Mr. Ketan: We are not dealing with Clients of a specific segment but we have Clients of Different Segments. Our Clienteles are Builders, Factory owners, Diamond Traders we have all kinds of Clienteles and we work in different segments too, we make Offices, Banquets, Hospitals, Private Offices, Corporate Offices, Residences and Villa which are our 365 days job. All the above experience has helped us to overcome many Challenges.

Also we explore a lot, we had branches at Dubai, Bangalore now we have office at Surat we work Pan India, we are open to work all over the Globe.

IS: What is the current scenario of Interior industry, from your point of view?

Mr. Ketan: This Industry is excellent and ever growing, the Demand is very huge. Everyone needs to beautify their House, Make their Restaurants, Offices, Banquets for that

August 2019

they need Architect, Designers and Consultants. There are Designers at all Levels and as per the budget and requirements of the project there is definitely business for everyone.

Availability of Material from any part of the world is also not difficult now a days but of course there are some formalities to be done. Selecting materials from Europe, China or Italy has become very hassle free. Certain Level of Clients Prefer materials from these countries. Even now days thanks to ‘Make in India’ we get good materials in domestic market as well and they are doing exceptionally good job but still Price is the Criteria. Sometimes it happens that it is easy to get items Imported rather than getting it customized locally. Of course after Demonetization and Implementation of GST there is a tremendous drop in Real Estate and the Market has become very sensitive, everyone is Cautious while expanding or Taking Business Risk.

IS: With the massive advancements in the Architecture & Interior Designing industry, what are the opportunities and challenges evolving with it?

Mr. Ketan: There is definitely a superb opportunity available now, on the global map, India is considered as a very important place or destination, people have noticed India very well and after definitely Narendra Modi’s ‘Make in India’ concept, people have an eye on our country so very big opportunities are there, how open we are and how we are able to visualize those opportunities, it depends on that, better the way we visualize, better opportunities are available and not only in India as India itself is a gigantic market but even out of India we have got scope, even 3rd world country when we talk about Africa there is definitely scope for us, even in Dubai-Gulf we have scope over there, so the market is quite open for everyone in our country… this is about the opportunities….

Secondly, even in today’s time the builders have starting inviting international designers so the possibility of collaboration is also there at the same time so not necessary you have lost it, if I have to import some ideas, some technology, we can definitely get it from up countries and they are far more advanced and ahead of us, bringing all those technologies and ideas will definitely help us to improve our work and to deliver something best so that is one thing about opportunities and of course when we talk

August 2019

about challenges, of course there are multiple challenges like in today’s time many designers have started their own companies in our country, so they have become directly & indirectly competitors to us, at certain Level, HNI level and at corporate level, mostly when I say corporates, means not only Corporate Offices but Residences too, even building industry, real estate industry, they prefer to hire designers from Up countries like Singapore, China, HongKong, Dubai, China, US, UK- good number of designers are coming from all these countries to our country and they are doing exceptionally good job, and those opportunities we are also losing, so these are the big challenges we are facing, another challenge we have the production quality what we get in European countries, States, even in China we don’t get it over here so our challenges are always being compared by our clients what is available here and what we can buy from outside countries, the gap in the rate is not always high when we talk about the volume it becomes more cheaper to get the things (material) from China and very good quality, the volume, timeframe the way they manufacture things is very fast, we can’t even think of it, so all those advantages are there, with this we can consider as an opportunity as well as challenges, if any manufacturer is over here for them it is a big challenge, if somebody is importing furniture or any material from up countries but of course if we talk about again opportunities, then Morbi has taken over in a tremendous way against other manufacturers in the tile industry and in the ceramic industry against China and they have made it difficult for China to sell the tiles in our country and we get extraordinary quality and because of the competition Morbi has done great job.

IS: What are the benefits gained by your clients while doing business with you?

Mr. Ketan: As I have mentioned above, the same thing I would like to repeat here, because of the exposure, our clients gets an immediate advantage out of it, our exposure is helping them so there is no trial or error happening, it is always tried & tested kind of thing and we are also working in the level of what is happening in the international market so that advantage clients always has with us.

IS: What is the role of your employees behind your company’s success? How do you keep them motivated?

Mr. Ketan: Every Industry works with the people, no

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We motivate our employees through all happening things we have picnics, going for movies, parties keeping an environment wherein we have freedom of voices, things are quite liberal.

IS: What would be your advice for the budding startups and entrepreneurs in the industry?

Mr. Ketan: Design industry is amazing. One should think beyond design as hard work is the important essence of success. One has to stay focused, committed and work with a professional attitude to face ahead healthy competition and aim at moulding a space into something that is beyond comparison.

There are no escape or shortcuts. Remember one thing “When you are doing everything you are not known hence create your own niche’. Keep yourself updated and stay tuned with the global trends.

“I fervently believe that nothing can substitute hard work.

So, my first success mantra is hard work. And, if this is coupled with honesty and integrity, then there is no stopping one from achieving success.”

Client satisfaction inspires us and that satisfaction is what we aspire to… individual is responsible. The head of the company cannot alone make the Project or Company Successful. Even the day to day activity needs the support of the team of good people. Employees are our biggest strength, without them we cannot perform. There is no Individual performers the entire team performs. Our Industry specifically needs a huge team of Professionals at various departments. We are not Individual Lawyer or doctors, we are a team of Designers & Architects. For a success of a project the team needs to perform, for their Support day in and day out is needed, their exposure & their thought process gives them freedom and work environment which allows them to explore their inner qualities more. The benefit is for the company and in the end to our clients.

If you become more rigid then there will be no growth personally or for the company.

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There are many challenges which are common to every organization. Today’s challenge is to do something versatile – “To deliver better than the Best”. We are known for creating transformation in the lives of our clients and adding happiness in the environment that we blend with harmony and that itself is a challenge.

IS: Brief us about your company’s future perspectives.

Mr. Ketan: We aim to become a leading Interior Designing and Architectural Firm in India and our Dream is to be listed among the Top Ten Companies by 2022. Our Mission is to use our imagination and creativity to convert our clients’ dreams into reality. Client satisfaction inspires us and that satisfaction is what we aspire to…

August 2019

IDAX

Consulting & Research Pvt. Ltd.

A Premium Quality Control Laboratory and Engineering Consultancy

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Our services are based on the foundation of Uncompressing Quality and Commitment

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ngineering is a diverse industry with numerous segments. In India, the Engineering services sector has witnessed substantial growth in recent decades. Consultancies with a sharp vision, intellectual capability, and result oriented approach are farfetched and few. Professionals from different industries have realized the importance of project management consultancies. This has given rise to boutique consultancies that are delivering exceptional services with its engineering expertise.

One such company, Idax Consulting & Research Pvt. Ltd. is considered as one of the finest Quality Control Laboratory & Consultancy firms in the country. It is a team of more than hundred highly qualified & experienced professionals consists of Geotechnical Engineers, Civil Engineers, Mechanical Engineers, Environmental Engineers, Scientists, and Structural Designers delivering consultancy services to clients. An ISO 9001:2015 certified company and member of many national and international institutions. IDAX is a well-equipped ultra-modern quality control laboratory with latest infrastructures supported by highly advanced equipment, computers, and software along with highly skilled technical personnel to carry out civil, mechanical, and electrical & environmental projects.

MEET THE ARDENT LEADER Every successful business starts with a

August 2019

Deepak Kumar Mallick Founder & Chairman

dream, evolves with a bunch of amazing ideas, great passion, and grit.

This exactly replicates the story of Er. Deepak Kumar Mallick- the Founder of the company. He is an IIT Kharagpur graduate having an honors degree in civil engineering and a seasoned engineer who had a large part of his professional stints with Tata Consulting Engineers Ltd. (TCE) and IL&FS Water Ltd. He was a professor at KIIT University and given enormous technical talks and presentations in IITs, Engineering colleges, Universities to motivate young talents. He was also a speaker at TEDx IIT Bhubaneswar event on “Architecting World 2030” in the year 2017. He was awarded 3rd Business Global Leadership Award by AsianAfrican Chamber of Commerce & Industry for Excellence in Engineering & Infrastructure Projects.

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Having worked for almost for six years, Deepak has garnered immense experience with working on both national and international funded projects. Even though Deepak is working with one of the best firms in India, his long-seen desire to set up his own engineering consultancy firm always kept on hitting him. In order to fulfill his dreams, Deepak returned to his home-state Odisha, Bhubaneswar to make it happen.

Explicating on the inception story, Deepak says, “I began from my drawing room with just a laptop, a single printer, and a broadband connection. Then pretty soon I started visiting some of the established consultants in the region and tried some small designing jobs on subletting for them. Within a year I was able to provide the best solutions and make customer satisfied. But what

actually caught my attention was the quality aspect that lagged in many.

This prompted me to bridge the underlying gap and thus, I decided to set up my own firm and deliver efficient, yet effective services. Hence, IDAX was established in 2010.”

Exceptional Services Quenching Every Business Need Since its inception, the company has been taking up projects in a diverse range of verticals of Civil, Mechanical, Electrical, and Environmental Engineering. The array of offering consists of Geotechnical / Soil Investigation, Topographical Survey, Drone Survey, Hydrographic Survey, DGPS Survey, Non-Destructive Testing (NDT), Construction Material Testing, Advanced Technical & Quality Control Testing, GIS, Industrial

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Training & Certifications, Environmental Engineering & Protection, Architectural & Structural Design & Drawings and many more.

IDAX provides services to Roads, Highways, Railways, Ports, Harbors, Solar Power Plants, Water Supply & Sanitation, Urban Infrastructure, Smart Cities, Industrial, Chemical, Power, Energy, Oil & Gas, Mining, Mineral, Metallurgy, Construction, and Environmental Sectors.

Quality-based Business Philosophy From managing vendors, convincing clients, getting a good human resource to building a right team, the company has faced many challenges during its inception. The company has faced many challenges in terms of lack of experience and proven track records.

On account of continuous learning, exceptional quality and adaptation of new technologies have helped them to overcome every challenges.

The Success Saga IDAX services are based on the foundation of uncompromising q u ality, co mmitmen t to clien t satisfaction and personal attention to relationships with every client. The company's success is the result of working diligently as a team to do each job right as well as maintaining a longterm perspective and integrity. The company gives utmost importance to teamwork and coordination among its employees and clients. It is dedicated to providing outstanding services to our clients.

IDAX has successfully provided consultancy services to more than fifty solar power plants with a cumulative power generation capacity of 5000MW. IDAX has successfully provided services to OPTCL Projects for the strengthening rural electrification and has completed setting up of more than 400 substations till date. Also, the company is associated with Surbana-Jurong, a Singapore-based consultancy firm for developing a landmark Bhubaneswar Town Center in Bhubaneswar that would be tallest building project in the state of Odisha.

A Journey Towards Flourishing Future

IDAX today serves a huge list of clienteles like L&T, TATA Group, Aditya Birla Group, Reliance, Vedanta Group, NTPC, Shapoorji, IOCL, ACME and some noteworthy international clients – Mercedes Benz, ABB Limited, ENERPARC, Nissin Food, Solairedirect, Harsco, SurbanaJurong, AECOM, Egis, SMS Siemag, Wabag. IDAX has always adopted and introduced cutting-edge technology to provide best-in-class services to its clients.

With the Y-O-Y growth of more than 100 percent, in the coming years, IDAX aims to be a renowned company with digital transformation and expanding the project territory overseas to Africa and Asia Pacific region with more than 1000 human resources. IDAX always believe in sustainable growth with social responsibility. The company will always work in a team spirit not only for the profit but also for better earth for living for the future generation.

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August 2019

Kirby Building Systems, India The Prime Indigenous PEB Enablers

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Being a leader will continue to achieve excellence and create new benchmarks for the industry as a whole

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re-Engineered Steel Buildings (PEB) industry has grown leaps & bounds over the last two decades but it is yet to achieve its true potential which is still far. But, its completely achievable as the industry consisting of top 4-6 organized players are maturing to take it to the next level of growth trajectory. The industry is overcoming many challenges by continuous knowledge sharing across seminars, conferences, industry forums, colleges, education curriculum, etc. to the target audience thereby increasing the popularity. During the early 2000s, warehouses were the initial driver for PEB but over the last two decades, PEB has ventured into many other applications for different industry segments.

Kirby Building Systems and Structures India Pvt. Ltd. is one of the world’s largest producers of quality steel buildings and has been operational since 1976. The company pioneered the PreEngineered Steel Buildings (PEB) concept in India in the year 1999 and has been the market leader in the Indian PEB industry.

The company is into Design, Fabrication, Supply, and Construction of Pre-Fabricated Steel Buildings or Steel Structures and has been evolving over more than twenty years and continuing to do so. All the buildings are made as per the customer specifications. The components are also designed, detailed, numbered and fabricated in its plants, before being sent to the job site with a construction drawing. There is no on-site fabrication as the material is assembled at site using bolts and nuts with a crane to install.

Building It Up The company is currently operating with two facilities located at Hyderabad and Haridwar with a total installed capacity of 200,000 MT per annum and over 20 sales offices across India facilitating the benefit of distance to its customers. In addition, Kirby India also has fabrication line for Structural Steel and Storage Solutions each respectively at its Hyderabad facility. It has also created many benchmarks for the industry in the earlier years and has established a standard set of practices to be followed for any type of steel building. All of this was set up right from pre-sales, engineering, fabrication, supply, installation and after-sales service.

Kirby India is specialized in completing many large and complex projects across diverse applications such as Factories, Warehouses, Offices, Supermarkets, Shopping Malls, High Rise Buildings – Commercial and Residential. The list also includes Shipyards, Metro Stations, Aircraft Hangars, Sports Stadiums, Showrooms, Workshops, Auditorium, Power Plants, Steel Plants, and Heavy Industrial Structures, etc. spread over different industries. The company is way ahead with immense experience of completing more than 20,000 buildings for a wide range of applications catering to almost all the industry segments &

August 2019

sub-segments over the last couple of years. Its existence in India has made Kirby and PEB synonymous in nature in the country.

Building Through Blocks Kirby India being the torchbearer has led the industry into many unknown territories that were never thought of thereby creating newer application areas for various types of structures that are highly customized and unique in nature. The company is leading the path through its new and innovative designs, systems & processes and construction techniques. This has helped the industry to overcome all the limitations capable in handling any complex project across different industry segments. Kirby with its rich experience and continuous learning at each and every stage of project execution over the last two decades has enabled to evolve with a new type of construction methodologies. All of this in order to complete the building in a much faster and safer way by meeting the customers’ project timelines.

One of the important factors that have gained prominence over the last few years is Safety at job sites which have become an important part of any project whether small or large. Kirby India has improved and implemented many innovative safe practices across all its job sites by providing training to all the manpower and Certified Builders on safe building practices over these years of operations and continues to do so to have incident-free sites till project completion.

Building The Future D. Raju – MD, Kirby India possesses nearly 30 years of experience and in-depth technical knowledge of the PEB industry and was instrumental in the successful order booking and execution of many complex and large projects.

D. Raju has a Civil Engineering degree and MBA from Osmania University in India and holds the title of Chartered Engineer from the Institute of Engineers – India.

His career with Alghanim Industries spans over 18 years, around that time he has held a number of management positions with the Kirby Building Systems India Group.

D. Raju is now leading the Kirby International businesses spread across Middle East & Africa, South East Asia and India.

Kirby India has grown manifolds over the last few years by executing simple box-like buildings to very complex

August 2019

D. Raju MD industrial buildings to high rise structures. The company is now adopting new innovative methods across design, fabrication & construction and other areas of project cycle which have widened its scope of operations to diversify into newer growth areas.

Kirby India also provides Industrial Racking Solutions and has diversified into Structural Steel applications such as High Rise Structures, Airport Terminal Buildings, etc. It has also developed its expertise to cater to commercial buildings segment through Composite Steel Construction or Steel Construction.

The company has already executed many high rise buildings and is currently executing some G+20 commercial office buildings. This will definitely lead to an increase in demand for steel structures for high rises in the coming years which is slowly being accepted by many builders & developers across major cities.

The firm strives to grow in the future as well as aspires to become one of the most preferred partners in the country for any type of steel construction along with taking the company to newer heights with newer businesses through the client-centric & innovative approach.

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S

Petrokens Engineering Redefining Technology-Services Sustainably and Innovatively!

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Providing services of the highest possible standards for satisfying the clientele's needs, safety, reliability, cost and expectations of quality

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ustainable development has been on the threshold of economic and environmental issues all over the world. Its significance has driven mankind to constantly innovate not only in the business but in the daily lives as-well. Tech-enabled services industries have always observed sustainability as a challenge and taking up the same has been amongst their prime objectives.

Following the same mission and growing with passion is Petrokens Engineering and Services Pvt. Ltd. The firm offers its esteemed clientele, highly specialized solutions to develop or enhance their asset’s performance in the long run. It delivers a broad range of services and provides clients the access to world-class sustainable and innovative technologies.

The person responsible for driving the Business Excellence journey globally is Murali G – CEO, Founder of the company. He has completed his Master’s in Design Engineering and has close to two decades of extensive experience in operation, maintenance, engineering, technical services and project management. He was associated with mostly offshore, Oil and Gas Refinery along with Petrochemical plants. Another Founder of the firm is Jeyaraj S – CTO of Petrokens. He has been instrumental in strategic planning and technical execution. He has done his Bachelor’s in Chemical Engineering. He has 18 years of rich experience in the Oil & Gas Industry especially in Design and Engineering of Oil and Gas production and processing facilities Offshore and Onshore, FPSO Process Topsides, Commissioning and Start-up services for Oil and Gas production and processing facilities. He has worked in multinational oil companies and EPC companies in India, UAE and Malaysia. Also, Jeyaraj is a member in Society of Petroleum Engineers (SPE) and an Associate Member in IChemE, UK. Their combined experience has been quintessential in exploring the opportunities and executing the tasks timely with quality and integrity.

Driving Excellence As a best-in-class integrated engineering consultancy solutions provider, Petrokens specializes in complete end-to-end solutions related to engineering which includes Engineering Design, MEP Design and Project Management Consultancy. The list also includes Specialized Technical Services, Risk Management and Technical Staffing across Oil and Gas Sector. Petrokens is one-stop destination for Conceptual Design, Detailed Engineering, FEED along with Bottlenecking and Commissioning solutions. It’s well experienced technical team has multinational exposure who are experts in their jobs, capable of executing and handling accelerated project schedules. “We are experienced and passionate group of project

August 2019

managers, engineers and designers. Every client we work with becomes a part of the team. Together we face the challenges and offer affordable solutions” describes Murali.

Since its inception, the company had a clear vision and strategic business plan. This changed the pace of the operations, helping in overcoming the challenges at the early stages of the business. Petrokens entered the oil and gas market when crude oil price was the lowest. The company saw it as an opportunity and targeted customers looking for affordable solutions.

Setting a Benchmark Petrokens provides multi-disciplinary design engineering and consulting services in conceptual/feasibility studies. The firm’s capabilities comprises of Process, Piping, Civil, Structural, Mechanical, Electrical, Instruments and Controls with HSE. “We stand unique as we offer complete cost effective solutions from concept to commissioning” says Murali, establishing the difference between Petrokens and its competitors.

The unique in-house design engineering services gives customizable options to the clients for their project.

Combining flexibility with innovation and complete solutions, the experience for the client is curated with excellence and showcases uncompromised quality. Petrokens is dedicated in delivering solutions to the client’s requirements across every phase of the project. It may vary from the concept, development to simulation, detailed design to validation and optimization tasks.

The company has targeted overseas market for jointly exploring opportunities in-order to execute oil and gas projects. Petrokens have established a strategic alliance with local partners in Malaysia, Vietnam, Myanmar, Oman, UAE and Kuwait.

The Struggle is Real Challenges in Engineering come from uncertain conditions prevailing to change in oil prices and an industry-wide staff shortage. The requirement for skilled engineers has been realized as an unending necessity in the industry, since technology is developing rapidly. “We have to align ourselves to meet the end users requirements. It’s at the hands of the engineering sector to sustain many crucial aspects of our dayto-day lives,” claims Murali while shedding some light on the dynamics of challenges faced by the company.

August 2019

Jeyaraj S

Murali

CTO

CEO

Engineering Industry Today “Nowadays Engineering is not considered to be limited in purely industrial and manufacturing world. The industry is focusing more on our impact on the environment and using adaptive technologies to help combat it,” Murali adds to the discussion regarding the current situation pertaining to Engineering industry in India. Understanding its position in the market, Petrokens derives the scale needed to cut-costs and remains competitive. It believes that the oil and gas sector is likely to be dynamic over the next few years. Hence, the ability to assess and accurately value potential targets faster than the competition will be critical. In this sector, prices are said to be on recovering stage. Still, most oil giants are cautious about new initiatives with major capital expenditures. Many MNC’s are still figuring out the essence of cost issue. Likewise, this has proven difficult for the firm to distinguish real threat from - new competition, challenging bidding procedures and risk-sharing arrangements. Giving a final statement, Murali proclaims - “We realize that the industry has dramatically changed and looking for cost effective solutions. Hence, we are better equipped to compete.”

URL: www.petrokens.com

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INDIAN COMMERCIAL REAL ESTATE BECKONS NRIS ABOUT THE AUTHOR

Shajai Jacob CEO

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Shajai Jacob is CEO – GCC (Middle East) of ANAROCK Property Consultants. A wellrounded sales & marketing expert, Mr. Jacob was previously Executive Director & Head – Marketing (West Asia) at one of India's leading international property consultancies. He is based out of ANAROCK's Dubai ofce, has complete oversight of the Firm’s brokerage operations across the Middle East & North African countries, and spearheads ANAROCK’s rapidly growing Middle Eastern business. He has 18+ years of rich experience in building brands and widening the visibility and scope for leading businesses and has deep expertise across national and international markets. In the past, he worked with major rms such as Hindustan Unilever, YES BANK, United Spirits, Kingsher Airlines and Barista. He holds a Master degree in Business Administration.

August 2019

Industry Insider

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ndia’s commercial office property asset class presents a profitable alternative for NRI investors looking at maximising returns and generating fixed income while simultaneously maintaining a low risk investment profile.

The attractiveness of good capital appreciation as well as rental yield has increased NRI inventor demand for Grade A offices, IT parks, logistics centres - and now REITs as well.

A good commercial property can give an average rental yield of 6-10% and the current rental yield from residential property is a mere 1.5-3.5%. The same growth range holds true for capital appreciation.

The upsurge of India’s commercial office market began in 2017 and has been further boosted by the arrival of REITs. Commercial real estate in India is driven by strong economic fundamentals, demand for quality Grade A office space, relatively affordable rents, and the new co-working office space trend in key markets.

• Mumbai: 5% rental growth • Gurugram: 3% rental growth (Source: ANAROCK Research) If we compare commercial real estate yields to those for residential properties, it becomes evident why many HNI NRIs prefer investing in the former.: Residential Rental Yields in Major Indian Cities: • • • • • • •

Delhi NCR: 2.63% MMR: 3.00% Pune: 3.10% Chennai: 2.72% Kolkata: 2.65% Bengaluru: 3.30% Hyderabad: 3.70%

(Source: ANAROCK Research) The other key potentiating factors driving demand, especially for Grade A office spaces, are India’s rapid urbanization and the increasing share of millennials.

Commercial Supply & Demand Dynamics As per ANAROCK data, approx. 11 mn. sq. ft. of office space was absorbed in Q1 2019, led by Bengaluru and followed by Mumbai, Chennai and Hyderabad. Supply addition in Q1 2019 rose by nearly 11% on a yearly basis to touch nearly 7.5 mn. sq. ft. in the first quarter across top 7 cities.

The cities with vibrant demand for office real estate – especially Grade A spaces - malls and co-working spaces are Bengaluru, Mumbai, Chennai, Pune, Hyderabad and Delhi-NCR. In Delhi-NCR, Gurugram has become a major investment destination for NRIs looking at investing in commercial real estate. Its close proximity to Delhi makes it ideal for NRI investors looking at long-term corporate tenants. Gurugram’s future office rental growth potential is good, and it has many commercial spaces which are seeing good absorption.

Office Rental Growth Rate (Last 2 Years): • • • •

Chennai: 12% rental growth Hyderabad: 11% rental growth Bengaluru: 10% rental growth Pune: 10% rental growth

August 2019

While the numbers speak for themselves, commercial real estate nevertheless requires much larger investments than residential – and finding and retaining suitable tenants for office spaces can also be a lot more complicated than for residential properties. Moreover, commercial properties do not have the same emotional connect for NRIs as housing does.

That said, the value proposition of a well-chosen and suitably tenanted commercial property is certainly compelling for NRIs who can afford it.

Benefits of Commercial Real Estate for NRI investors: NRIs keen to invest in the commercial real estate can lease their property out for long tenures, and their maintenance remains the responsibility of the tenants. India’s liberalised foreign direct investment policy, especially with regards to expatriate participation in its economy as domestic investors, has made the country’s primary business cities hot destinations for NRIs focused on office real estate.

NRIs can also avail loans for commercial properties similar to residents in India but there are differences between the residential and commercial property loans including interest rates, loan processing fee, tenure of loan, age of the property etc. Hence, NRIs must do their due diligence before opting for one.

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