Eros Group: Adopting Sustainable Design & Construction Practices

With India's construction sector facing challenges related to resource scarcity and environmental degradation, there is a growing recognition of the importance of adopting sustainable design, construction, and operational practices.

Avneesh Sood - Director, Eros Group

The construction industry in India has been witnessing a paradigm shift towards sustainability, driven by the pressing need to mitigate its environmental impact and enhance financial viability. With the real estate sector contributing significantly to India's GDP, it becomes imperative to adopt sustainable initiatives that not only benefit the environment but also reduce the real total costs of ownership for contractors.

According to recent reports by leading real estate organizations such as the CII and NAREDCO, sustainable construction practices have gained traction due to their potential to reduce waste and CO2 emissions, thereby enhancing financial sustainability.

Sustainable Design & Planning

With urbanization accelerating and environmental concerns mounting, the industry is increasingly recognizing the imperative of integrating sustainable initiatives into construction projects. Sustainable design and planning lie at the heart of this transformative journey. By using biomimicry and regenerative design principles, developers and contractors can pioneer innovative solutions that not only reduce waste and CO2 emissions but also yield substantial long-term cost savings. For instance, drawing inspiration from nature's ingenious designs, biomimetic strategies in construction have enabled creation of buildings that are not only structurally resilient but also inherently eco-friendly. Likewise, regenerative design principles foster development of projects that actively contribute to environmental restoration and community well-being, thereby enhancing their financial sustainability over time.

By repurposing existing structures and materials, developers can minimize resource consumption and construction-related waste. Various case studies highlighting successful adaptive reuse projects serve as compelling examples of how sustainable practices can drive financial viability, while preserving architectural heritage and minimizing environmental impact can unlock new avenues for financial growth and prosperity.

Construction Phase Efficiency

During the construction phase, efficiency becomes paramount in achieving sustainable outcomes while optimizing costs. By implementing robust waste reduction strategies, such as lean construction practices and efficient material management systems, developers can curtail construction-related waste significantly. According to NAREDCO, waste reduction initiatives can lead to tangible cost savings, with construction companies reporting up to 20% reductions in project expenses.

Measures like reducing CO2 emissions through sustainable practices, mitigating operational costs, optimizing supply chains, using eco-friendly construction equipment and construction methods and materials as endorsed by the Indian Green Building Council (IGBC), not only lower carbon emissions, but also enhance energy efficiency and indoor air quality, contributing to the overall sustainability of projects.

Operational Efficiency & Maintenance

Operational efficiency begins with the design phase with the integration of energy and water-efficient systems. According to data from IGBC, buildings designed with energy-efficient technologies can achieve up to 30% reduction in energy consumption, translating to substantial operational cost savings over time.

Similarly, implementing water conservation strategies, such as rainwater harvesting and greywater recycling, can significantly lower water usage and utility expenses, as evidenced by case studies conducted by the Ministry of Housing and Urban Affairs.

For reducing total costs and ensuring long-term financial viability, lifecycle assessment tools such as those endorsed by the Bureau of Energy Efficiency (BEE) and the Ministry of Environment, Forest and Climate Change, enable developers to evaluate the environmental and economic impacts of their projects. By optimizing building performance based on lifecycle analysis, developers can identify opportunities for cost savings and operational efficiency throughout the lifespan of a building, thereby enhancing its overall sustainability.

Collaboration & Industry Advocacy

Collaboration among stakeholders is crucial for realizing sustainable goals throughout the project lifecycle. By fostering strong partnerships among contractors, architects, and clients, developers can leverage collective expertise and resources to implement innovative solutions that optimize costs and minimize environmental impact. Reports from leading industry organizations such as the Confederation of Indian Industry (CII) highlight successful case studies where collaborative efforts have resulted in sustainable buildings that deliver long-term value to both investors and communities.

Along with advocating for policy changes and industry standards for creating an enabling environment for sustainable development, developers can support regulations that incentivize sustainable practices, such as tax incentives for green buildings or mandatory certification requirements. Active participation in industry associations and initiatives, such as the Indian Green Building Council (IGBC) and the Sustainable Building Alliance (SBA), allows stakeholders to influence policy decisions and shape industry norms towards greater sustainability.

Conclusion

The integration of sustainability initiatives is not merely an ethical choice but a strategic imperative for ensuring long-term financial viability. Buildings designed with sustainability in mind experience lower operational expenses and command higher market value, ultimately translating into enhanced profitability for developers.

As leaders in the real estate sector, it is incumbent upon contractors to prioritize sustainable practices, not only for the sake of their bottomline but also for the well-being of future generations and the planet as a whole. By aligning economic objectives with environmental responsibility, contractors can pave the way for a more prosperous and sustainable future in the Indian real estate.