Q1. Could you start by giving us a brief overview of your professional background, particularly focusing on your expertise in the industry?

I am a Civil Engineer with over 39 years of field experience and an MBA in Operations Management. During these 39 years, I was fortunate to work across the country, in around 17 States of India, with the following Reputed Organisations:

Construction Majors - E.P.C: M.S. Khurana Ltd, JMC Projects India Ltd, Shapoorji Pallonji & Co. Ltd, Vascon Engineers Ltd; Montecarlo LLtd.

Leading Real Estate Developers: Kolte-Patil Group, K. Raheja Corp Ltd; Megapolice, a JV between ABIL Group & Kumar Properties. VTP Realty Pvt. Ltd.

And both the planned hill cities of our country, Lavasa Corporation Ltd & Aamby Valley City Ltd, are part of the Top-Level Core Team.

I was fortunate to have constructed campuses, buildings, and factories across the country for reputed organisations like Infosys, Asian Paints, Siemens, Madura Coats, TVS Suzuki, Hindustan Motors, Hindustan Aeronautics, Indian Railways, Power Grid Corporation of India, Konkan Railways,

As the head of a construction team involved in constructing landmark structures in India, like:

• ISB-Indian School of Business campus at Hyderabad, Andhra Pradesh
• IIMK-Indian Institute of Management campus at Kozhikode, Kerala
• BITS Pilani campus at Vasco, Goa
• Factory of Engine Test house for Sukhoi Aircraft at Sonabeda, Orissa.
• World’s Highest Railway Bridge on Chenab River in the Reasi sector in J & K
• Hindustan Motors’ Lancer Car Plant in Tamil Nadu
• Kannur International Airport in Kerala

And many more prestigious projects.

Q2. Given that construction input costs have risen by over 12% in the last 18 months, what specific procurement methods are useful to protect the project value from margin erosion?

Here I would like to suggest the principle of R-6: Right Materials in Right Quality in Right Quantity at Right Time from Right Vendor and in Right Place. By this principle, one can surely have control over procurement. However, this is a vast subject and can be described in detail at a given time.

Q3. How do you evaluate the 'Strategic Fit' of new construction startups offering modular pods or 3D-printed components? At what volume does 'Pre-cast' construction become cheaper than 'Cast-in-situ' in the Pune market?

New construction techniques are good but not necessarily cost-effective at present.

3D-printed components can be part of a building, but they cannot be a complete building. Also, it is not practically suitable for high-rise structures.

Precast Structures are good, but have inbuilt challenges like logistics, lifting, and shifting issues. Also, at present, in India, this system is expensive.

I was involved in designing a precast building for Infosys Technologies Ltd at Bangalore in 1999; however, it was not selected by the client due to cost and time constraints.

Q4. What is the single most difficult 'Execution Metric' to maintain in projects to ensure a 'Grade A' status?

Grade A’ Buildings means buildings of the highest quality with the best Amenities and with Safety, Quality Standards, with design, functionality, and with eco-friendly materials. To achieve this status, one must have Proper Planning and Execution in coordination with all departments. As such, there is no difficulty in execution if proper systems are followed, and Planning-Execution-Finance and Marketing are in perfect alignment.

Q5. With the Maharashtra State Electricity Board (MSEB) raising industrial tariffs, how is the 'Energy Mix' shifted on-site (Solar/DG sets) to maintain the construction power budget?

As of now, MSEB Power is the cheapest, costing around 4 to 5% of the Building Construction Cost. Yes, DG Set Power is an easy and quick method, but it is not cost-effective compared to EB Power. Solar is a good option, but it needs a high initial capital investment and also needs an alternative backup.

Q6. Can you quantify the EBITDA impact of using Mivan (Aluminum) shuttering versus traditional formwork on a 30-storey tower, accounting for both capital cost and interest savings on a 6-month faster delivery?

Mivan is surely a better option, cost-effective, quality, with speed and time - saving.

It is difficult to quantify the EBITDA impact in the absence of exact details of the building. However, let me highlight a few main points:

• Capital investments for Mivan Form are around Rs 12500/- per sq mtrs
• Aluform Material can be utilised up to 200 repetitions
• Breakeven of form work cost is achieved only after 80-90 repetitions
• Speedy and quality-oriented working system

In a 30-story building, around 240-250 days can be saved using Aluform compared to conventional formwork. Around 180-200 days can be saved for external finishing works. Thus, around 450 days -15 months of time can be saved. The building can be delivered 15 months early, and a good amount of cash flow can be generated, and interest costs can be saved.

Q7. If you were an investor looking at companies within the space, what critical question would you pose to their senior management?

Timely delivery of building/property has paramount importance in real estate deals. Goodwill and Reputation also matter. Quality and Safety are also key points for a real estate company. Financial Stability is another important aspect. There are many other aspects too, which need to be considered, but will take up a lot of time; overall performance with track record must be analysed.