PremiumSpeaking about the changes that have occurred in the commercial and public sectors since the lockdown, Katyal stated that COVID-19 has caused virtually all major sectors to change the way they operate, but construction has found itself with a once-in-a-lifetime opportunity to reform and innovate. Read on to know more!
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The pandemic has caused considerable disruption and turmoil in the supply chain. COVID-19 has had a considerable impact on the building sector, as it has on other industries. However, as history has shown, global crises may have a silver lining, and despite the pandemic, the central government's focus on the construction industry has reaped benefits, and the industry is showing signs of recovery.
The crisis was the most visible feature of the previous year, and its influence on the construction sector has been to refine the way it builds and delivers large-scale projects. We have prioritised and concentrated on the supply chain throughout the process, and as a consequence, the chain has become more efficient, says Rahul Katyal, Managing Director, Capacit'e Infraprojects Limited. Furthermore, the pandemic has encouraged the adoption of new work practices, the construction of new alliances between developers and the government, and the development of new business models, he noted.
Following the pandemic, the building industry is important to the economy's recovery. The advancement of technology in the last year has resulted in substantial changes in the construction industry. Today and in the future, technology will play an important role in changing the whole industry and aiding it to develop in a sustainable manner. The time has come to invest in tech-led solutions in developing nations like India, where internet connectivity and smartphone access is rapidly increasing.
Speaking about the changes that have occurred in the commercial and public sectors since the lockdown, Katyal stated that COVID-19 has caused virtually all major sectors to change the way they operate, but construction has found itself with a once-in-a-lifetime opportunity to reform and innovate. The pandemic has had varying degrees of impact on the construction industry, which includes owners, developers, contractors, subcontractors, and supply chain vendors. The time has come for the construction industry to band together and develop better practices in response to the changing construction landscape. Real estate is a separate industry that will continue to grow and reach new heights in the coming months.
To go forward with a restructured project programme, the commercial and public sectors must communicate, collaborate, and prioritise supply chains. Today's industry emphasises faster delivery times, shorter project durations, great service, and a more technologically savvy approach. Overall, this has resulted in a 15-20% reduction in timeframes while expanding the building business several times over.
"After suffering a setback during the closure, the construction sector looks to be on the mend," Rahul added, explaining why the business is getting so few orders. The industry was the first to offer post-lockdown access, and it is also improving order flow and execution. With extensive government support, we should expect a major resurgence in the next few months.
During the pre-covid period, many inventories were stalled as a result of the scenario; however, post-covid developers will begin investing in new projects, and the increase in construction equipment orders by construction companies is yet another sign that things are looking up and that orders and execution are likely to pick up. As we get through the pandemic crisis and into the new normal, it is clear that the world will look different. Without a question, the coronavirus has pushed construction, like many other industries, into uncharted territory. There are reasons to be optimistic, however, because the post-pandemic environment has created a number of new market dynamics, which bring with them new opportunities. Capacit'e Infraprojects has designed some of the most notable and beautiful projects, including BDD Chawl, Trump Tower – Lodha, Ten X Habitat, Garden City – Oberoi, Splendora – Lodha, 25 South – Wadhwa Group, Beau Monte – Sheth Group, World Trade Centre, Chennai, Tata Memorial Hospital, Varanasi, CIDCO and others
Katyal believes that the continuing construction activities will further consolidate CIL's status as one of the country's leading construction enterprises and will drive the next phase of growth.
Disclaimer: This content is distributed by Digpu News Network. No HT journalist is involved in creation of this content.
