Share with us your views on the roadmap or the outline, which followed in the recent year of 2018-2019 period, for the infrastructure and construction sector.
The infrastructure and construction sector are integral to the economic growth and development of the country. According to a KPMG Infrastructure report, India is expected to become the 3rd largest market in infrastructure and construction activities by 2025. Approximately 9% of the nation’s GDP is spent on the provision of infrastructure services and urban infrastructure development.
Tell us about your recent recognized projects (e.g your core execution strength and expertise in providing best solutions) / Views on the current promising trends of the Industry.
Two of the more recent developments in the industry include the booming co-living market sector and the increasing demand for Grade A office spaces in the country.
The cutting down of GST rates by the GST council has been accepted by the industry at large and the move is favourable to the homebuyers’ segment as it makes housing more affordable for the middle class. Having said that, I strongly believe that the ITC (Input credit tax) should continue, and failure to do so may increase the tax burden for developers. The introduction of REITs on the other hand is expected to increase demand in the commercial real estate segment further due to the better pricing and growth opportunities provided by the venture.
Share with us your promising management ideas and driving strategies which you are using in your projects?
The Sumadhura Group advocates the adoption of the backward integration model; this ensures that we can implement stringent quality control measures along with maintaining a significant control over supply. The quality policy in place currently, strives to deliver consistently superior performance in property development and management services, satisfying customers need through collaboration and innovative methods fostering a culture of continual improvement.
How would you predict the year 2019, along with sharing your business plans for the next 5 years, as the new government is just going to be elected, in order to adapt to the latest policies and norms and remaining competitive in the industry?
The proactive and the industry friendly policies introduced by the present government resulted in an environment favourable for the real estate segment. The foreign direct investments (FDI) in the real estate sector have also increased during the period due to increasing transparency and efficiency as a result of reformative measures and laws. Going forward, if the same conducive environment is maintained by the upcoming government, this would most certainly translate as positive market growth in terms of both volume and price appreciation in the real estate market.
Is there is something you would like to share with your audience at large, as in discussing your trade principals and economic ambitions for the near future?
Quality and transparency are two factors integral to the success of the Sumadhura Group and we have strived to implement these ideals in not just our projects but also our day to day functioning since the establishment of the organisation. Apart from this we also follow a highly customer- centric model of business focussed on innovation and this has also been a key factor in the growth of the organisation.
