Jatin Goel, Executive Director, Omaxe Ltd

The construction companies should not get tempted by allied businesses for stretching revenue margins; rather, their focus should be on their core business of constructing.

Jatin Goel
Opportunities

Infrastructure construction is expected to intensify in the next few years. The sector has seen dips and stagnancy, and now, with a stable government at the Centre, the sector should see a steady growth with the huge spend on developing roads, railways, highways etc. This in turn will catalyze growth of the construction equipment industry and will certainly facilitate rapid real estate growth in the country.

Construction companies have had a long learning curve in India. The real estate sector has also evolved with the introduction of RERA and GST. Non-serious players are losing space to focused developers. While the construction industry boosts growth, it is also dependent on investors and buyers, besides which, government policies also play a vital role. The challenge for construction companies is not to get tempted by allied businesses for stretching revenue margins; rather, their focus should be on their core business of constructing.

Efficiency in Execution

The real estate sector has seen developers who have lacked vision and financial discipline; some others have had no experience and who saw construction simply as a means for making quick profits. We have seen how buyers and investors have been misled by a few builders. Thankfully, with the new government reforms, the inexperienced players are being shown the door, and only serious players are in business now.

LUCKNOW R2

Omaxe has delivered over 100 million sq.ft.of space, and we continue to innovate and introduce modern processes in our work, from procurement of land to handing over the developed property. Though we have over 30 years of experience, we also have a good strength of fresh minds reshaping our business.

New Technologies

Modern techniques like AI and IOT are going to change the way businesses will be conducted in the future. You can certainly cut down costs substantially using modern machines and processes. However, for a sector like the real estate, much of the implementation depends on appropriate planning and vision. Technologies should be incorporated to improve quality of construction and subsequent usage of property. But unlike an online e-commerce platform, you can’t leave real estate development on auto-pilot mode.

LUDHIANA ROYAL RESIDENCY

Order Book

With our company largely focusing on tier-II and III cities like Lucknow, New Chandigarh, Faridabad, Indore and Ludhiana, we hope to gain from any uptick in the economy and sector as a whole. We aspire to make Omaxe a billion-dollar annual turnover company in the next five years. We have three broad objectives for the immediate future: re-establish ourselves in the Delhi NCR market with new projects; focus on timely delivery of existing projects; and expand our footprint in existing locations where we have large land banks, like Chandigarh and Lucknow.

NBM&CW July 2019

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