Emerging Global trends

Sankey Prasad, Chairman-Managing Director, Synergy

Sankey Prasad, the creative force behind the phenomenal growth of Synergy, in an exclusive short and quick interview with Built Expressions, explains the emerging global trends in construction management.

What are the emerging global trends in construction management? And how are they going to influence construction scenario in India?

The global construction industry is expected to grow significantly over the next decade, especially in the rapidly emerging economies of Asia, Latin America, the Middle East, Africa and Eastern Europe. Fuelled by urbanization, globalization, infrastructure renewal and the needs of developing "megacities," construction in emerging markets is expected to double within a decade. Driven by advancing technology, the construction industry in India is also changing faster than ever.  Keeping up with this change is challenging.

• Building Technology in Construction and Project Management: New building technologies such as aluminium formwork and pre-engineered buildings to name a few are becoming standards in the industry. Typically custom-engineered to meet the owner's specific requirements; they are pre-engineered to assemble into a fully integrated building unit; use of such buildings is growing as they are easier to build, saving time and money.
• Software Technology in Construction and Project Management: Technology is playing a huge role in the construction industry, just like it is in other industries; advanced software such as CAD and Building Information Modeling (BIM) are making it possible to make changes more rapidly. Use of technology like BIM will help us achieve reduced waste both in time and in materials, faster project delivery, reduced risk, enhanced sustainability and optimize project life cycle. Technology will have a profound impact on construction in the future
• Green Construction: Green building will continue its rapid expansion around the world in years to come. In fact, the focus of the green building industry is changing from new buildings to greening existing buildings. LEED for Existing Buildings Operations and Maintenance (LEED O+M) has been seeing the most certifications in the past three years, and now exceeds new construction certifications by cumulative floor area.
• To a certain extent there is awareness and implementation of most of the above mentioned construction technology in India, including, green construction; however we are yet to achieve volumes. It is only a matter of time   with the current labor crisis, more and more developers in India will explore newer technologies and effective methods of construction and project management to achieve more accurate lifecycles and optimize cost without compromising on quality.

How is the construction industry going to respond to Demand vs Supply cycle in the years to come?

India requires quality infrastructure; this simple fact is the long term driver of the construction sector as infrastructure investments are the most important growth driver for construction companies. Indian construction industry has matured enough to anticipate the cycles and have responded well. I am sure this maturity along with increase in investor confidence will help to regularize and minimize the Demand  Supply gap in years to come.

BOX ITEM

Sankey Prasad, the creative force behind the phenomenal growth of Synergy, is the Chairman and Managing Director of Synergy Property Development Services Pvt. Ltd and has worked in various capacities in the real estate sector. He has several landmark projects to his credit. With his vision, expertise and compassion towards his fellow Synergites, the organization he started and incorporated in 2003, has now grown into the biggest and one of the best project management companies in India today. Under his leadership, the Synergy team has grown into a professionally managed company with over 800 employees, and is a name to reckon with in real estate circles.

The Company has a pan India presence with overseas offices in Malaysia and in the UAE.

Synergy's growth has been phenomenal in the last one and half decades-with a commercial office space, The Embassy Golf Links business park which houses some of the best clients like IBM, Microsoft, Yahoo, Mcafee, Mercedes Benz, Fidelity, Goldman Sachs etc and Manyata with a similar clientele including Lucent, cognizant etc, moved to several other large IT parks, business parks  across India for several leading developers and direct client orders such as US Technology at Trivandrum, Broadcom, TCS and Cognizant in Kochi etc.

The journey from office buildings to retail malls to multi-specialty hospitals to Airports was graceful, rewarding and Synergy went on to establish higher and higher benchmarks. The Medicity a 2000 bed multi specialty hospital is one of the biggest in this part of the world.

Sankey Prasad's USP undoubtedly is his charisma and ability to motivate and build teams, apart from the great rapport he shares with his colleagues. This perhaps explains the low attrition rate the company experiences.

Based on Synergy's growth, the equity giant, Blackstone has acquired 35% share in the company.

Being a God fearing person he attributes all his success to God's grace and the hard work of a dedicated team. He wears his success lightly, and being a great team player shares his happiness, and always has a ready hand to help others.