SHAPOORJI PALLONJI (E&C) 9.6/10 Subodh Dixit, Executive Director & President (E&C)

COVER STORY - RANKING TOP 50 COMPANIES

THE TOP 50 REAL ESTATE & INFRA COMPANIES

BY JAYASHREE KINI MENDES

en years is a long time to be an industry and flourish. We are not boasting, but when one considers the competitive market, we have not done too badly. Construction Week India is by noT means a conventional magazine. Last year, we began a journey with no little trepidation when we set out to rank established real estate and infrastructure giants. This year, a little more boldly, we have done it again. While we were a novice at calibrating data last year, this time round we did relook our approach to make the exercise more effectual. We sought out compelling parameters that could with- stand the test of time, and disagreements, if any. For that reason, we took help from renowned consultants who could corroborate the criteria and segregate the submit- ted data. The criteria to rank companies were: Number of projects launched last two years; Projects completed last one year; construction methodologies; milestones; Number of cities present in and projects in those cities; change of management level employees, if any, recently; list of green projects; and best practices followed. We adopted an unbiased approach to tally the scores DQGDUULYHGDWWKHͤQDOOLVW7KHPRUHSRLQWV\RXVFRUH on the parameters, the faster is the climb up the ranking sheet. There are plenty of surprises this year. We hope you will appreciate our efforts and understand that this was just a way of understanding how the Indian real estate market is faring in these turbulent times.

CONSTRUCTION WEEK NOVEMBER 2018 23 COVER STORY

RANK INFRASTRUCTURE/REAL ESTATE 1 SHAPOORJI PALLONJI (E&C) 9.6/10 Subodh Dixit, Executive Director & President (E&C)

Shapoorji Pallonji Engineering & Construction's growth is strengthened by the immense contribution it has made across all major sectors. These include civil and structural engineering projects like power plants, nuclear research establishments, factories, auto- mobile plants, stadia & sports arena, hotels, hospitals, skyscrapers, townships and water treatment plants. Some of the projects it is executing and has recently completed include: Civil, electri- cal, air-conditioning and allied works for PSLV Integration Facilities (PIF) project at Shi- harikota; Phoenix Embassy Tech Zone Centaurus; IT Project “Oracle ORR Phase Throughout much of 2017, ̹ IRU 6DWWYD 'HYHORSHUV EHDXWLͤFDWLRQ RI the Group has been involved streets for Greater Visakhapatnam Smart in creating a technology City Corporation, among others. roadmap that will limber Throughout much of 2017, the Group has up the Rs 28,320 crore been involved in creating a technology road- Shapoorji Pallonji Group to map that will limber up the Rs 28,320 crore stay in lock step with the SP Group to stay in step with the digital age. digital age. It has 13 group companies and an employee base of over 60,000 people.

INFRASTRUCTURE RANK LARSEN & TOUBRO 2 SN Subrahmanyan, CEO & MD 9.4/10

/DUVHQ 7RXEURLVWKHRQO\,QGLDQFRPSDQ\WRͤQGDVSRWDPRQJWKHWRSFRPSD- nies in Forbes' global 2,000 best employers list. Last month, the $18 billion-engineering major won orders worth Rs 7,489 crore to build two parts of the Mumbai Coastal Road Project. It has also bagged an order from the Irrigation and Command Area Development Department of government of Telangana for the Medigadda Barrage Project. L&T Geostructure, a subsidiary of the heavy civil infrastructure business of L&T, has received an order from BHEL, to execute pil- ing, pile test, pile cap and pedestal works for a 1x660 megawatts-Panki Thermal Power The $18 billion-engineering Plant near Kanpur, U.P. major won orders worth The heavy engineering arm has bagged Rs 7,489 crore to build additional orders worth over Rs 1,000 crore two parts of the Mumbai during the September quarter. These include Coastal Road Project. three super heavy hydrocracking reactors for DQ,QGLDQUHͤQHU\WREHEXLOWIRUWKHͤUVWWLPH in the world. The total order inflow in H1 FY19 of heavy engineering has reached Rs 2,661 crore.

24 CONSTRUCTION WEEK NOVEMBER 2018 COVER STORY

RANK REAL ESTATE RANK REAL ESTATE 3 RUSTOMJEE GROUP 4 GODREJ PROPERTIES 8.95/10 Boman Irani, CMD 8.5/10 Pirojsha Godrej, Executive Chairman

Through Rustomjee Their flagship project – Elements, the group is The Trees – in Vikhroli, driving the concept of Mumbai, registered a My Spaces - creating phenomenal response spaces for customers since it was launched to rekindle their lost in 2015. passion or hobby.

One of the most conscientious developers, Boman Their flagship project – The Trees – in Vikhroli, Mum- Irani has continuously sought to offer premium bai, registered a phenomenal response since it was residences mostly in Mumbai. The Group believes launched in 2015. A mixed-use development, con- that their customers' core desires and interests lie sisting of a residential aspect, a commercial district, at the heart of their design philosophy. Through and a Taj-branded hotel, which is being created in Rustomjee Elements, the group is driving the con- conjunction with Taj Hotels Palaces Resorts Safaris. cept of My Spaces - creating spaces for custom- A point of focused attention has been Godrej ers to rekindle their lost passion or hobby. Properties’ emphasis on sustainable design. This Rustomjee has carved a niche for itself in the is, of course, very much in keeping with the Godrej ever-growing real estate sector, with a portfolio Group’s vision of ‘Good & Green’. In fact, environ- that includes 12.5 million sq-ft of completed proj- mental sustainability has been a major driver for the ects; 15 million sq-ft of ongoing development and company, much before it became a catch phrase another 30 million sq-ft of planned development across the country. in the pipeline, spanning across the best locations Overall, Godrej Properties is presently developing of MMR. Their portfolio currently includes two very projects spanning approximately 151 million sq-ft. ODUJH WRZQVKLSV UHVLGHQWLDO VSDFHV RIͤFH FRP- While there have been a few commercial ventures, plexes, retail developments, spaces for healthcare all of which were well-received, the focus has clearly and education spread across BKC Annexe, Khar, been on the residential real estate segment, which off Juhu Circle, Kandivali, Borivali, Virar and Thane. also happens to be Godrej Properties’ forte.

26 CONSTRUCTION WEEK NOVEMBER 2018 COVER STORY

RANK REAL ESTATE 5 PRESTIGE GROUP 8.45/10 Irfan Razack, CMD

$ͤUPEHOLHYHURIVWD\LQJFXVWRPHUFHQWULF5D]DFNDVVHUWVWKDWFRPSOHWLQJDMREDQGRI IHULQJZKDWWKH\ZDQWDQGDWWKHULJKWSULFHPHDQVGRLQJMXVWLFHWRKLVZRUN5D]DFNVD\V KLVELJJHVWVDWLVIDFWLRQLVZKHQEX\HUVKDYHPDGHVLJQLͤFDQWUHWXUQVRQWKHLULQYHVWPHQW LQ3UHVWLJHKRPHV /RQJEHIRUH5(5$FDPHLQWRHIIHFW5D]DFNKDVEHHQVWXGLRXVO\HQFRXUDJLQJGHYHO RSHUVWREHWUDQVSDUHQWDQGDFFRXQWDEOHZKLFKKDVKHOGKLPLQJRRGVWHDG,W̵VQRVXU SULVHWKDW3UHVWLJH*URXSLVWKHRQO\&ULVLO'$UDWHGGHYHORSHULQWKHFRXQWU\,WZDVDOVR DZDUGHGWKHͤQDQFLDOUDWLQJRI$E\,&5$ $V DQ HQWUHSUHQHXU 5D]DFN KDV VKRZQ Long before RERA came DQXQFDQQ\NQDFNWRVHHEH\RQGFRUQHUV into effect, Razack +H IHHOV VWURQJO\ DERXW SURJUHVV EXLOG has been studiously LQJWKHEXVLQHVVXSDQGHQVXULQJDVWXUG\ encouraging developers ERWWRPOLQH%XWKHNQRZVWKDWDOOWKLVFDQ to be transparent and RQO\PDWHULDOLVHLIKHGHOLYHUVSURMHFWVDQG accountable. TXDOLW\KRPHVRQWLPH,PSRUWDQWO\RIIHULQJ KRPHVLQWKHULJKWORFDWLRQLVDSULRULW\(DFK SURMHFW LV HQYLVLRQHG EDVHG RQ WKH ORFDOLW\ DQGFRPPXQLW\OLYLQJLQWKHDUHD

INFRASTRUCTURE RANK DILIP BUILDCON 6 Dilip Suryavanshi, CMD 8.25/10

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t plans to explore, develop, FDUERQVDQGPLQHUDOVXEVWDQFHVERWKRQ produce, purchase or VKRUHZLWKLQWKHWHUULWRULDOMXULVGLFWLRQRIWKH otherwise acquire petroleum ,QGLDQ8QLRQDQGDQ\ZKHUHLQWKHZRUOG crude oil, natural gas, all %HVLGHVWKLVLWZRQRUGHUVZRUWK5V kinds of hydrocarbons FURUHIRU%KRSDODQG,QGRUH0HWUR5DLOSURM and mineral substances, HFW E\ WKH 0DGK\D 3UDGHVK 0HWUR 5DLO &R both onshore, within the /WG8UEDQ$GPLQLVWUDWLRQDQG'HYHORSPHQW territorial jurisdiction 'HSDUWPHQW%KRSDO 03 anywhere in the world.

28 CONSTRUCTION WEEK NOVEMBER 2018 COVER STORY

RANK REAL ESTATE RANK INFRASTRUCTURE 7 SALARPURIA SATTVA 8 AFCONS 8.15/10 Bijay Agarwal, MD 8/10 S Paramasivan, MD

The company has MSRDC selected 38 million sq-ft Afcons Infrastructure of projects across as one of the lowest segments under bidders to build the construction and 30 13.3km link between million sq-ft on the Khalapur and Kusgaon drawing board. on the Mumbai-Pune expressway.

Salarpuria Sattva is strengthening its presence $IFRQV ,QIUDVWUXFWXUH KDV EDJJHG RQH SDFNDJH IRU in commercial real estate, and targeting a com- the UP government's flagship Purvanchal Express- mercial portfolio of 20 million sq-ft in the next two way project connecting Lucknow with Ghazipur in years. The Bengaluru-headquartered company Eastern UP. also plans to shift focus to developing and selling ,Q$XJXVWWKHVWDWHJRYHUQPHQWJDYHWKHͤQDO plots of land, even as residential segment is crawl- approval to build the 13.3km link between Khala- ing back to recovery. pur and Kusgaon on the Mumbai-Pune express- The builder recently raised Rs 700 crore from way. The Mumbai-Pune expressway link will start $PHULFDQ SULYDWH HTXLW\ ͤUP %ODFNVWRQH WR GH- at Khopoli and through an interchange, lead to YHORS WZR RIͤFH SDUNV LQ +\GHUDEDG :LWK WKHVH Kusgaon at the Pune-end of the expressway. The the total development area under the Blackstone- work on the project is expected to start after mon- Salarpuria Sattva platform increased to 13 million VRRQ 065'& VHOHFWHG $IFRQV ,QIUDVWUXFWXUH DV VTIWLQ+\GHUDEDG,QDGGLWLRQWRWKHWKUHHXQGHU- one of the lowest bidders for the project. construction projects, both Blackstone Group and Early this year, Chenab Valley Power Project Salarpuria Sattva Group are looking for more such (CVPP) awarded the civil works constructions of development and inorganic growth opportunities. SRZHUKRXVHRI0:3DNXO'XO+\GUR(OHFWULF The company has 38 million sq-ft of projects Power Project being built on Chenb River in Kisht- across segments under construction and 30 mil- ZDU WR $IFRQV ,QIUDVWUXFWXUH DORQJ ZLWK LWV MRLQW lion sq-ft on the drawing board. venture partner at a cost of Rs 1,051 crore.

30 CONSTRUCTION WEEK NOVEMBER 2018 COVER STORY

RANK REAL ESTATE 9 AKSHAYA LTD 7.95/10 T Chitty Babu, Chairman & CEO

Akshaya's Chitty Babu believes that the decision to offer continued support to residents is a personal choice. But he prefers to take responsibility. Akshaya transfers all green building related knowledge and information including drawings and documents to the building tenants, residents and/or owner's association. A detailed Green Build- ing Guidelines is also prepared by Akshaya, which helps the residents to maintain the green features as intended. Akshaya’s Green Building principles are based on best practices of architectural design, structural design, MEP design and best construction management prac- Akshaya Ltd has prepared tices. The onus is on him to ensure that he a detailed Green Building FKRRVHVJUHHQPHDVXUHVWKDWZLOOEHQHͤW Guidelines, which helps the buyers as well as the community. Addition- residents to maintain the ally, the measures must also not be cost green features as intended. prohibitive. Some green measures are: (IͤFLHQW $&V DQG OLJKWLQJ SDYHU VDYLQJV through best wall and glass material selec- tions, renewable power, more green area, on site wastewater treatment, etc.

REAL ESTATE RANK K RAHEJA CORP 10 CL Raheja, Group Chairman 7.9/10

At K Raheja Corp, green workspaces is part of their ecosystem and ethos and reflected LQHDFKVWUXFWXUHFXUDWHG)URPRUJDQLVDWLRQVRSWLQJIRUWKHLUͤUVWJUHHQZRUNSODFHWR those wanting to take their green practices to the next level, K Raheja Corp has been a valued partner to the ever evolving green needs of discerning corporates, pacing them DWHYHU\VWHS%ULQJLQJLQWKHH[SHUWLVHWKH\FRXOGQ WKDYHKDGDPRUHEHͤWWLQJSDUWQHU than USGBC. In another move, India’s second largest developer of commercial parks, is investing 5V FURUHWRVHWXSWZR,7SDUNVRIRYHU India’s second largest 5 million sq-ft in Navi Mumbai. Recently, it developer of commercial announced the launch of its latest commer- SDUNVLVLQYHVWLQJ5V cial masterpiece ‘Vistas Centrepoint’. Nes- crore to set up two IT parks tled in the heart of Pune, the location offers a of over 5 million sq-ft in SOXPFRPPXQLW\DXGLHQFHRIIDPLOLHV Navi Mumbai. The project opens for purchase with immediate effect and given the augmented development in the area, it is one of the most VRXJKWDIWHUFRPPHUFLDORIͤFHVSDFHV

32 CONSTRUCTION WEEK NOVEMBER 2018 COVER STORY

RANK REAL ESTATE RANK INFRASTRUCTURE 11 RUNWAL GROUP 12 SADBHAV ENGINEERING 7.8/10 Sandeep Runwal, Director 7.7/10 Shashin Patel, CMD

The Group is also set The company has to buy over 2.7 acres received letter of land parcel of Rashtriya acceptance (LOA) from Metal Industries the Maharashtra State (RMI) at Andheri for a Road Development consideration about Rs Corporation for road 180 crore. project worth Rs 1,620 crore.

Runwal Group has been on an acquisition spree. Sadbhav primarily deals with engineering and con- The developer recently bought 50 acres of land struction projects in roads, mining and irrigation. As in Mumbai’s suburban Dombivali from civil engi- on 30 September, it had constructed over 7,551 lane neering company Gammon India for around Rs km of roads. In Q4 2018, road projects accounted for 230 crore as part of an asset monetisation plan. In 81% of its order book, up from 65% in the correspond- 2014, the Runwal group acquired 64 acres in Dom- ing period a year ago. Sadbhav Engineering is now bivali for around Rs 320 crore. Runwal is planning looking to raise Rs 1,500 crore through a QIP in the to develop the land into an integrated township. current quarter. The Group is also set to buy over 2.7 acres land The company has also received letter of accep- parcel of Rashtriya Metal Industries (RMI) at And- tance (LOA) from the Maharashtra State Road De- heri for a consideration about Rs 180 crore. Run- velopment Corporation for road project worth Rs wal has signed a memorandum of understanding 1,620 crore. The order is for construction of access with RMI to buy the land parcel that houses RMI's controlled Nagpur-Mumbai Super Communication RIͤFHDQGIDFWRU\7KHFRPSDQ\ZKLFKLVSUHVHQW Expressway (Maharastra Samruddhi Mahamarg) in in luxury residential, townships and commercial Maharashtra in district Washim. spaces, is planning to develop this plot as a mixed- It has also been declared the successful bidder (Ll) use development project. for other road and irrigation projects worth Rs 1,299.98 Runwal owns and manages the largest retail crore. Besides this, it has bagged a mining project mall chain in Mumbai with over 2 mn sq-ft of GLA. worth Rs 317 crore in Chhattisgarh.

34 CONSTRUCTION WEEK NOVEMBER 2018 COVER STORY

RANK REAL ESTATE 13 RADIUS DEVELOPERS 7.55/10 Sanjay Chhabria, MD

Early this year, Radius Developers was in the news when it acquired Ram Mansion, a bungalow on Nepean Sea Road from Ashok Piramal Group’s Peninsula Land for over Rs 235 crore. The developer is planning to redevelop the bungalow into a luxury high-rise apartment block. The property has total development potential of about 50,000 sq-ft. In another news, HDFC and its subsidiary HDFC Capital Advisors have together invested Rs 1,000 crore in realty developer Radius Developers’ two residential projects in Mumbai. 2IWKHWZRLQYHVWPHQWVWKHͤUVWWUDQVDFWLRQLQ- HDFC Capital has invested volves HDFC investing nearly Rs 600 crore in the about Rs 400 crore in the developer’s premium project ‘X BKC’ in Bandra- developers’ affordable Kurla Complex. In the second deal, HDFC Capital housing project Anantya has invested about Rs 400 crore in the develop- in Chembur, a suburb in ers’ affordable housing project Anantya in Chem- Mumbai. bur, a suburb in Mumbai. The company has also been exploring technologies like tunnel formwork, which it used for WKHͤUVWWLPHLQD&KHPEXUSURMHFW

REAL ESTATE RANK PURAVANKARA LTD 14 Ashish Puravankara, MD 7.5/10

0DUNLQJWKHGHYHORSHU̵VUHWXUQWRWKHͤQDQFLDOFDSLWDOWKDWLW left over three decades ago, Bengaluru-based Puravankara Ltd has purchased a two-acre plot at Chembur in suburban Mumbai for Rs 147 crore. Mumbai is one of the seven cities, including Chennai, Bengaluru and Pune, that Puravankara plans to focus on as part of its new growth strategy. ,WV-9ͤUPZLWK6LQJDSRUHEDVHG.HSSHO/DQGZLOOEX\ 7.6 acre of land in Bengaluru from Metro Cash & Carry India for Rs 405 crore. The land will be used for the de- Marking the developer’s velopment of commercial project, comprising 1.18 milion UHWXUQWRWKHͤQDQFLDO sq-ft of leasable area. capital that it left over three Puravankara Ltd is a leading real estate company in In- decades ago, Bengaluru- dia, with presence in Bengaluru, Kochi, Chennai, Coimbatore, based Puravankara Ltd has Mangaluru, Hyderabad, Mysore, Mumbai and Pune. The com- purchased a two-acre plot pany has close to 37 million sq-ft of projects which are deliv- at Chembur in suburban ered out of which 66 are residential and commercial projects. Mumbai for Rs 147 crore. With 21 million sq-ft of projects which are under development, the total land assets of the company nears 72 million sq-ft.

36 CONSTRUCTION WEEK NOVEMBER 2018 COVER STORY

RANK INFRASTRUCTURE RANK REAL ESTATE 15 TATA PROJECTS 16 PIRAMAL REALTY 7.4/10 Vinayak Deshpande, MD 7.3/10 Anand Piramal, Founder

The Kerala government The Group is expecting has selected Tata Rs 2,200 crore sales Projects for immediate revenue from the renovation activities at second tower of its Sabarimala. The work luxury housing project must be completed in south Mumbai. before November 15.

The Kerala government has selected Tata Proj- Piramal Realty has launched its second tower, Arav, ects for immediate renovation activities at at its 7-acre signature development, Piramal Aranya. Sabarimala. The work must be completed before 6LWXDWHGLQWKHKHDUWRI%\FXOOD3LUDPDO$UDQ\DGHͤQHV November 15 and Rs 2 billion have been granted premium living that encapsulates the plush and cultur- for renovation, repair and maintenance of the ally poised neighborhood. Starting at Rs 2.75 crore, the roads in the area. newly launched Arav offers more than 300 units that Recently, Rajasthan Chief Minister Vasundhara comprise luxurious 2 & 3-bed residencies. Raje inaugurated Jaipur city’s visionary Dravya- Besides this, the developer has purchased a 3.2 acre vati River Rejuvenation Project executed by Tata land parcel for Rs 153 crore from Nirmal Lifestyle. Projects. The Rs 1,676-crore project includes The Group is expecting Rs 2,200 crore sales revenue construction cost of Rs 1,470 crore and 10 years from the second tower of its luxury housing project in maintenance of Rs 206 crore. south Mumbai. The company had tied up with Omkar The consortium of TATA Projects, Capacit'e In- Realtors for housing project 'Piramal Mahalaxmi' that fraprojects and CITIC Group has been awarded has over 2 million sq-ft of development potential. The an Rs 11,744-crore project by the Maharashtra total investment is estimated at Rs 2,600 crore to de- government and MHADA. The order is for redevelop the entire project, which will have three towers. velopment of existing BDD Residential and Com- Piramal Realty has over 15 million sq-ft of land un- mercial Societies (chawls), one of the oldest Brit- der development. Goldman Sachs and Warburg Pincus ish-era developments in Mumbai. have invested about $434 million at the entity-level.

38 CONSTRUCTION WEEK NOVEMBER 2018 COVER STORY

RANK REAL ESTATE RANK REAL ESTATE 19 SOBHA LTD 20 PANCHSHIL REALTY 7.1/10 Ravi Menon, Chairman 7.05/10 Atul Chordia, Chairman

In 2015, Bengaluru- The joint entity, Smart based Sobha Ltd City India Consortium, created a new segment will develop township - Sobha Dream Series projects across the - to mark its foray into FRXQWU\DQGWKHͤUVW affordable housing one of these will come segment. up in Pune.

Sobha Ltd, the developer of the premium residen- Over the last decade, Panchshil has introduced sev- tial property, is set to launch an affordable housing HUDO LQWHUQDWLRQDO EUDQGV OLNH <22 7UXPS &RUSRUD- project in Bengaluru. The new project will come up WLRQ :RUOG 7UDGH &HQWUH -: 0DUULRWW DQG +LOWRQ WR on Thanisandra Road in North Bengaluru on an Pune city, and pioneered best practices in construc- 18-acre land parcel. Property buyers will be eligible tion. Some of these are being employed in Panchshil's WRFODLPEHQHͤWVXQGHU30$<6FKHPH 9-tower luxury project - Panchshil Towers, which is In 2015, Bengaluru-based Sobha Ltd created a also one of Pune's tallest residential landmarks. new segment - Sobha Dream Series - to mark its ,QWKHKRVSLWDOLW\VHFWRU2Q\[+RVSLWDOLW\*URXS0DO- foray into affordable housing segment. The com- dives' leading hotel management company, has signed SDQ\ODXQFKHG6REKD'UHDP$FUHVWKHͤUVWSURM- DQDJUHHPHQWZLWKD-9FRPSDQ\OHGE\3DQFKVKLO5H- ect under the new segment. However, the houses DOW\WRODXQFK2=20DOGLYHV in this project are slightly bigger in size compared It has also entered into an agreement with Switzer- WRWKHKRXVHVGHͤQHGXQGHUWKH30$

42 CONSTRUCTION WEEK NOVEMBER 2018 COVER STORY

RANK REAL ESTATE 21 AJMERA REALTY & INFRA 7/ 1 0 Dhaval Ajmera, Director

Mumbai-based Ajmera Group is planning to invest up to $10 million in technology- EDVHGVWDUWXSVZLWKDIRFXVRQͤQWHFKDQGVRIWZDUHDVDVHUYLFH 6DD6 DVSDUWRI its expansion plan. It has already picked up stakes in three startups and plans to invest in another seven by the end of June 2019. The Group will also consider acquisitions of such companies. Two years ago, it had EDFNHG%RRN0H,QDQRQOLQHPDUNHWSODFHIRUVHUYLFHVEHVLGHVLQYHVWLQJLQ7KH6SRUWV Gurukul, which runs sports programmes in schools and colleges, and ModuleX, a mod- ular kitchen development startup. The company has acquired 5.5 acres of Two years ago, it had land at Electronic City-2 through the com- backed BookMeIn, an online pany's wholly owned subsidiary which has marketplace for services, a potential to develop 5.5 lakh sq-ft, which besides investing in The may generate revenue of approx. Rs 300 Sports Gurukul, which runs crore in three years span. sports programmes in ,W V LQYHVWLQJ 5V FURUH LQ /RQGRQ schools and colleges, and and Bahrain to develop over 10 lakh sq-ft of ModuleX. residential and commercial space as part of LWVRYHUVHDVGLYHUVLͤFDWLRQ

INFRASTRUCTURE RANK JMC PROJECTS 22 Shailendra Kumar Tripathi, CEO & Deputy MD 6.95/10

&LYLOHQJLQHHULQJͤUP-0&3URMHFWVKDVVHFXUHGRUGHUVZRUWK5VFURUHLQWKHGR- mestic market. The company received two orders totalling Rs 236 crore for construction RIHGXFDWLRQDOLQVWLWXWHVLQ$QGKUD3UDGHVK,WKDVDOVRZRQFLYLOFRQVWUXFWLRQDQGUHODWHG 0(3ZRUNVIRUUHVLGHQWLDOEXLOGLQJVLQ7HODQJDQDIRU5VFURUHDQGFLYLOZRUNVIRUD steel plant in Odisha for Rs 137 crore. -0&OHGFRQVRUWLXPKDVVHFXUHGWZRWXUQNH\SURMHFWVXQGHUWKH0LFUR/LIW,UULJDWLRQ 6FKHPHZRUWK5VFURUHIURP1DUPD- GD9DOOH\'HYHORSPHQW$XWKRULW\ 19'$ LQ 0DGK\D 3UDGHVK ZLWK -0&̵V VKDUH EHLQJ The company received DW DURXQG 5V FURUH $QRWKHU FRQ- two orders totalling Rs tract bagged by JMC is for construction of 236 crore for construction DWRZQVKLSLQ&KKDWWLVJDUKIRUWKH1DWLRQDO of educational institutes 0LQHUDO 'HYHORSPHQW &RUSRUDWLRQ 10'& in Andhra Pradesh. It has IRUDERXW5V FURUH also won civil construction The irrigation orders will help the company and related MEP works improve its capabilities and further strength- for residential buildings in en presence in the water segment. Telangana and Odisha.

44 CONSTRUCTION WEEK NOVEMBER 2018 COVER STORY

RANK REAL ESTATE RANK REAL ESTATE 23 ATS INFRASTRUCTURE 24 EMBASSY GROUP 6.9/10 Getamber Anand, CMD 6.85/10 Jitu Virwani, CMD

The company has Embassy Group will already entered into invest Rs 1,350 crore to joint development develop four new hotels agreements with land in Bengaluru as part of owners for four projects its expansion plan in covering 10 million hospitality business. sq-ft of saleable area.

Early this year, New Delhi-based ATS’s founder India’s much-awaited maiden real estate investment Getamber Anand launched a new venture Home- trust (REIT) is set to debut almost four years after the Kraft to develop mid-income and affordable hous- UXOHVZHUHQRWLͤHGDQGHIIRUWVE\WKHJRYHUQPHQWRYHU ing projects and will invest Rs 2,000 crore over the the past few years to put in place regulations on par QH[WͤYH\HDUVWREXLOGDERXWXQLWV+RPH- ZLWK JOREDO VWDQGDUGV (PEDVV\ 2IͤFH 3DUNV D MRLQW .UDIWZLOOGHYHORSKRPHVRIVL]HUDQJLQJIURP YHQWXUHRI863(ͤUP%ODFNVWRQH*URXSDQG(PEDVV\ VTIWWRVTIWDQGLQDSULFHUDQJHRI5V *URXSLVWRͤOHGRFXPHQWVZLWKWKH6HELSURSRVLQJWR ODNK7RVWDUWZLWKWKHFRPSDQ\ZRXOGGHYHORS UDLVHRYHU5VFURUHWKURXJKWKLVURXWH$SDUWIURP SURMHFWVLQWKH1&5DQGWKHQDFURVVWKHFRXQWU\ EHLQJ ,QGLD̵V ͤUVW WKH %ODFNVWRQH(PEDVV\ 5(,7 ZLOO The company has already entered into joint de- EH$VLD̵VODUJHVWLQWHUPVRIRIͤFHSRUWIROLRDUHDPRUH velopment agreements with land owners for four WKDQWZLFHWKHVL]HRIRWKHUVLQWKHFRQWLQHQW SURMHFWVFRYHULQJPLOOLRQVTIWRIVDOHDEOHDUHD ,Q DQRWKHU PRYH WKH ͤUP ZLOO LQYHVW 5V 6LPLODUO\ SULYDWH HTXLW\ ͤUP $6. *URXS LV LQ- crore to develop four new hotels in Bengaluru as vesting Rs 200 crore in ATS Infrastructure's mixed SDUWRILWVH[SDQVLRQSODQLQKRVSLWDOLW\EXVLQHVV,W XVHGHYHORSPHQWSURMHFW .QLJKW%ULGJH LQ1RLGD has already roped in global hospitality major Hilton The deal marks the company's foray into the com- WRPDQDJHWKHVHKRWHOV PHUFLDO UHDO HVWDWH VSDFH 7KH ͤUP KDV LQYHVWHG Embassy Group has signed a long-term lease 5VFURUHLQWKHVHIRXUSURMHFWVDQGKDVH[LWHG GHDOZLWK-30RUJDQIRUSUHPLXPFRPPHUFLDORI- LQYHVWPHQWVRI5VFURUHZLWKJRRGUHWXUQV ͤFHVSDFHDW(PEDVV\7HFK9LOODJH%HQJDOXUX

46 CONSTRUCTION WEEK NOVEMBER 2018 COVER STORY

RANK REAL ESTATE 25 BRIGADE GROUP 6.83/10 MR Jaishankar, CMD

Bengaluru-based Brigade Enterprises plans to spend up to Rs 10,000 crore to double project launches across verticals, including residential, commercial and hospitality, in the next three years. The company has lined up around 20 million sq-ft of residential space to be developed in the next three years in south India, including in Bengaluru, Chennai and Hyderabad. In the past three years, it launched around 10 million sq-ft. Brigade Enterprises already has a partnership with Singapore -based private equity ͤUP*,&6LQJDSRUH%ULJDGHXQGHUZKLFKHDFKSDUW\ZLOOLQYHVW5VFURUHIRUODQG purchases. The platform has concluded signed land deals, two in Bengaluru and The company has one Chennai. re-entered ownership The company has re-entered ownership RIͤFHVEXVLQHVVODXQFKHG RIͤFHV EXVLQHVV ODXQFKHG WKUHH SURMHFWV WKUHHSURMHFWVLQ%HQJDOXUX in Bengaluru and has plans to launch three DQGKDVSODQVWRODXQFK more by the end of this year. Brigade be- WKUHHPRUHE\WKHHQGRI gan its business operations as a builder by this year. constructing Brigade Towers in Bengaluru in 1986. The project was executed on ownership concept.

INFRASTRUCTURE RANK HCC LTD 26 Ajit Gulabchand, CMD 6.8/10

Hindustan Construction Company (HCC), in a joint venture with Hyundai Development Corporation (HDC), has been awarded a Rs 2,126 crore contract by the Municipal Corpo- UDWLRQRI*UHDWHU0XPEDL 0&*0 IRUGHVLJQDQGFRQVWUXFWLRQRIWKH0XPEDL&RDVWDO 5RDG3URMHFW3DFNDJH,,+&& VVKDUHLQWKH-9LV 5VFURUH DQGWKHSURMHFW is to be completed in four years. The scope of work includes design and construction of road, bridges, interchanges including reclamation and associated works between Baro- da Palace near Haji Ali and the Worli end of Bandra Worli Sea Link. HCC's unit is also selling a road asset to +&&LQD-9ZLWK+\XQGDL I Squared Capital-backed Cube Highways 'HYHORSPHQW&RUSRUDWLRQ and Infrastructure. Cube Highways will pay +'& KDVEHHQDZDUGHG DQ HTXLW\ FRQVLGHUDWLRQ RI 5V FURUH D5VFURUHFRQWUDFW to HCC Concessions for Farakka-Raiganj E\0&*0IRUGHVLJQDQG +LJKZD\V,WV-9ZLWK0$;*URXSKDVZRQ FRQVWUXFWLRQRIWKH0XPEDL D 5V FURUH FRQWUDFW IURP 5XVVLD IRU D &RDVWDO5RDG3URMHFW nuclear power plant in Bangladesh. The con- 3DFNDJH,, tract includes civil works of Turbine Island for Unit 1 of Rooppur Nuclear Power Plant (NPP).

48 CONSTRUCTION WEEK NOVEMBER 2018 COVER STORY

RANK INFRASTRUCTURE RANK REAL ESTATE 27 ITD CEMENTATION 28 OBEROI REALTY 6.77/10 Adun Saraban, MD 6.75/10 Vikas Oberoi, CMD

The company has The company is received orders currently developing worth Rs 845 crore residential real estate in September. The projects with a total company’s total order area of 13.7 million book as on June 30, sq-ft, of which 5.6 2018, was at Rs 9,055 million sq-ft has been crore. sold till date.

ITD Cementation India has won orders valued 2QHRIWKHIHZFRPSDQLHVWRSRVWVXFKSURͤWV2EHURL over Rs 1,066 crore from Airports Authority of In- 5HDOW\ VFRQVROLGDWHG4QHWSURͤWGRXEOHGWR5V dia, Vizhinjam Port, Visakhapatam Port, Mumbai crore versus Rs 104 crore in the same quarter last year. Metro and Rail Vikas Nigam. These orders are for In June, it raise Rs 1,200 crore through issue of construction of new integrated passenger terminal VKDUHV WKURXJK D 4XDOLͤHG ,QVWLWXWLRQDO 3ODFHPHQW building and associated facilities at Pune airport, (QIP). QIP is a capital-raising tool through which listed construction of breakwater for Vizhinjam Port, im- companies can sell shares, fully and partly convertible proving capacity utilisation of OR-I & OR-II berths debentures, or any securities other than warrants that for Visakhapatnam Port Trust, ballastless track DUHFRQYHUWLEOHLQWRVWRFNVWRDTXDOLͤHGLQVWLWXWLRQDO work in mainline for Line-7 corridor (Andheri to buyer. The company is currently developing residential Dahisar) and construction of adits and tunnels in real estate projects with a total area of 13.65 million connection with the new single broad-gauge rail sq-ft, of which 5.6 million sq-ft has been sold till date. link between Rishikesh and Karanprayag. The residential projects being built by the company In addition, the company has received orders include Prisma, Sky City and Esquire in the western worth Rs 845 crore in September. One order is for Mumbai suburbs, respectively. It is also developing upgrading of passenger terminal building and air- a residential and hotel project in upmarket locality of side facilities at Tiruchirapalli International Airport. Worli in central Mumbai called Three Sixty West. The company’s total order book as on June 30, 2018, was at Rs 9,055 crore.

50 CONSTRUCTION WEEK NOVEMBER 2018 COVER STORY

RANK REAL ESTATE 29 L&T REALTY 6.68/10 Shrikant Joshi, CEO & MD

L&T Realty, the property development arm of construction and engineering giant L&T, is betting on bigger projects, lower pricing and faster execution to boost its growth. Last year, the company announced plans to launch three malls of 1.2 million sq-ft in Hyderabad in the next six months. The total project size would be 18.5 million sq-ft and would be a part of a metro station development. Last year, L&T Realty sold its 1 million sq-ft mall in Seawoods station in Navi Mumbai to Blackstone for Rs 1,400 crore. The total project size was 2.6 million sq-ft. In 2015, it sold its 1.5 million sq-ft commercial property project in Chandigarh to the Carnival As of today, L&T Realty is group for Rs 1,785 crore. As of today, L&T present across West, South Realty is present across West, South and and North India with many North India with many residential, com- residential, commercial and mercial and retail projects. Committed to retail projects. create landmarks of excellence, it has built business parks, transit oriented development like the Navi Mumbai - Seawoods Grand Central, and many other such cov- eted residential buildings and complexes.

REAL ESTATE RANK KALPATARU GROUP 30 Mofatraj Munot, Chairman 6.65/10

Mumbai-based Kalpataru Group has entered into a joint development agreement with pipe manufacturer Indian Hume Pipe to develop a 15-acre land parcel for a residential project in suburban Pune. Kalpataru will have 66% of the revenue from the project while the rest will go to Indian Hume Pipe, which will bear the conversion charges from industrial to residential use. Kalpataru will bear and pay all construction, development, marketing and selling costs and other project related costs. In May, Kalpataru launched Kalpataru Magnus, an ultra-luxurious, In May, Kalpataru Limited multi-amenity residential project at Kalanagar in Bandra (East). It launched Kalpataru also unveiled one of the country’s largest and one of its kind real Magnus, an ultra-luxurious, estate experience centres, Parkside Galleria, in Thane. Comprising multi-amenity residential 40,000 sq-ft of built up space, Parkside Galleria offers visitors an im- project at Kalanagar in mersive experience into the various facets that go into the making Bandra (East). of a Kalpataru Home – superior aesthetics, innovative design, class leading quality, sustainable construction practices and cutting edge building technologies.

52 CONSTRUCTION WEEK NOVEMBER 2018 COVER STORY

RANK REAL ESTATE RANK REAL ESTATE 31 HOUSE OF HIRANANDANI 32 CENTURY REAL ESTATE 6.6/10 Surendra Hiranandani, CMD 6.55/10 Ravindra Pai, MD

Hiranandani currently The company also plans has four residential WRODXQFKDERXW townships under plots next year in two development in projects and expects Bengaluru and Chennai a sales realisation of spread across six DERXW5VFURUH million sq-feet worth QHDUO\5V FURUH

House of Hiranandani is looking at acquiring dis- Century Real Estate launched Century Greens - a WUHVVHGUHDOHVWDWHDVVHWVDVVPDOOHUSOD\HUVͤQG plotted development project for those seeking a sus- LWGLIͤFXOWWRVXUYLYHLQWKHQHZUHJXODWRU\UHJLPH tainable and eco-friendly lifestyle within a smart envi- and amidst a tightening of credit supply to the ronment. Spread over 18 acres with 239 smart plots VHFWRU,WKDVDOUHDG\LGHQWLͤHGVHYHUDORSSRUWXQL- offering approximately 4.5 lakh sq-ft of saleable area, ties in this regard and have tied up a few land par- the various plot dimensions in square metres are cels. It's in the process of tying up several more. 30*40, 30*50 and 40*60. 7KHFRPSDQ\̵VIRFXVJHRJUDSKLHVDUH0XPEDL Late last year, the developer, which has a huge land Bangalore, Chennai, and Hyderabad. Hiranandani bank in Bengaluru, made plans to enter the affordable currently has four residential townships under housing segment and invest Rs 1,100 crore to devel- development in Bengaluru and Chennai spread RSKRPHVLQWKHQH[WͤYH\HDUV7KHFRPSDQ\ DFURVVVL[PLOOLRQVTIHHWZRUWKQHDUO\5V also plans to launch about 1,350 plots next year in FURUH 7KH DLP LV WR EXLOG DGGLWLRQDO PLOOLRQ two projects and expects a sales realisation of about sq-ft by 2019. 5V FURUH 7KH FRPSDQ\ KDG HDUOLHU UDLVHG IXQGV Early this year, from Kotak, Piramal, JM Financial, Xander and others the developer to develop projects. It has so far completed about 15 launched resi- projects comprising 3,000 apartments and 2,000 plots. dential plots in It is currently developing 10 projects. 7KDL\XU6WUDWHJL- cally located on the Old Mahab- alipuram Road (OMR), this project gives customers a chance to own a piece of land in this high growth corridor of Chennai.

54 CONSTRUCTION WEEK NOVEMBER 2018 COVER STORY

RANK INFRASTRUCTURE 33 SPML INFRA 6.5/10 Subhash Sethi, Chairman

Early this year, SPML Infra with its joint venture partner OM Metals Infraprojects se- cured an international order from Ministry of Food and Agriculture, Republic of Gha- na, for the work related to rehabilitation and completion of Kpong left bank irrigation SURMHFWLQ*KDQD$IULFDIRU5VFURUH7KHVFRSHRIZRUNLQFOXGHVPRGLͤFDWLRQRI existing supply canal, main canal, cross regulators and installation of new distribution structures. This World Bank funded project has a time line of 18 months to complete. The infrastructure developer, which is into water, sanitation and power, is also eyeing smart city projects apart from EPC contracts. The company is currently executing The infrastructure the city infrastructure part for the upcom- developer, which is into ing smart-city at Ujjain. water, sanitation and power, 630/KDGRYHUWKHͤUVWQLQHPRQWKVRI is also eyeing smart city ODVWͤVFDOUHSRUWHGWRSOLQHRI5V FURUH projects apart from EPC DQGDSURͤWRI5V FURUH7KHFRPSDQ\ contracts. under the Scheme for Sustainable Structur- LQJRI6WUHVVHG$VVHWV 6$ KDVFRQYHUWHG about half of its debt to optionally convert- LEOHGHEHQWXUHV 2&'

REAL ESTATE RANK ABIL GROUP 34 Amit Bhosale, MD 6.45/10

In a closely contested auction, Pune-based realty developer ABIL Group has acquired an eight-storey commercial building at Trafalgar Square in London for nearly £100 million, or Rs 900 crore, from American global investment management corporation Black- Rock. The deal value includes stamp duty of 5% and other charges that have been paid as the registration has been concluded. The property also offers an option of developing up to 250-room luxury hospitality project. Currently, the property has around 1 lakh sq IWRIͤFHDQGUHWDLODUHD$%,/*URXSLVSODQ- QLQJ WR UHGHYHORS WKH SURSHUW\ LQWR D ͤYH star hotel with an additional investment of ABIL Group has acquired over Rs 715 crore. an eight-storey commercial In another move, ABIL Group has sold its building at Trafalgar Square 8-acre land parcel near Pune's Hinjewadi in London for nearly £100 area to Rohan Builders for about Rs 55 crore. million, or Rs 900 crore, The proposed project is expected to derive from American global revenues worth around Rs 500 crore, given investment management the current and expected trend of residential corporation Black-Rock. property prices here.

56 CONSTRUCTION WEEK NOVEMBER 2018 COVER STORY

RANK REAL ESTATE RANK REAL ESTATE 35 LODHA GROUP 36 OMKAR REALTORS 6.4/10 Abhishek Lodha, MD 6.35/10 Babulal Varma, MD

In July, the company The company plans to reported a 32% rise in RSHQRIͤFHVLQWKH86 its consolidated net and London property SURͤWDW5VFURUH markets as well to on account of higher achieve the targeted sales, especially in the VDOHVERRNLQJRI5V affordable housing FURUHWKLVͤVFDO\HDU segment.

In April, Lodha Group, the country’s largest real 0XPEDLEDVHG2PNDU5HDOWRUVVROGQHDUO\5V HVWDWHͤUPE\VDOHVDQQRXQFHGWKDWLWLVIRUD\LQJ FURUHZRUWKSURSHUWLHVODVWͤVFDO\HDUWR15,VDQG LQWRWKHZDUHKRXVLQJVSDFHZLWKDDFUHIDFLO- RSHQHGRZQRIͤFHLQ'XEDLDQG6LQJDSRUHWRFDWHUWR LW\LQ3DODYDWRGLYHUVLI\UHYHQXHVWUHDPVDPLGD GHPDQGULVH7KHFRPSDQ\SODQVWRRSHQRIͤFHVLQWKH WHSLG UHVLGHQWLDO SURSHUW\ PDU- 86 DQG /RQGRQ SURSHUW\ PDUNHWV DV ZHOO WR DFKLHYH NHW 3DODYD̵V SUR[LPLW\ WR ERWK WKHWDUJHWHGVDOHVERRNLQJRI5VFURUHWKLVͤVFDO WKH -137 DQG WKH XSFRPLQJ \HDU 0D[LPXP 1DYL0XPEDLDLUSRUWPDNHVLWDQ sales are happen- LGHDO ZDUHKRXVLQJ ORFDWLRQ IRU ing in Alta Monte corporates. Palava is a 4,500- 0DODG(DVW2PNDU DFUH JUHHQͤHOG VPDUW FLW\ LQ Lawns & Beyond, WKH .DO\DQ'RPELYOL UHJLRQ EH- DQG2PNDU6HUHQR LQJGHYHORSHGDQGPDQDJHGE\ 2PNDU 5HDOWRUV WKH/RGKD*URXS7KHFRPSDQ\ KDV VR IDU GHOLY- ZLOOIRFXVRQFUHDWLQJWKHZDUH- ered 15 projects KRXVLQJ LQIUDVWUXFWXUH JLYHQ LWV LQ 0XPEDL DQG LV expertise in construction and developing another GHYHORSPHQW six. It has addition- ,Q-XO\WKHFRPSDQ\UHSRUWHG DOPLOOLRQVTXDUH a 32% rise in its consolidated net area in pipeline. SURͤWDW5VFURUHRQDFFRXQW Early this year, RIKLJKHUVDOHVHVSHFLDOO\LQWKH 3LUDPDO 5HDOW\ DIIRUGDEOHKRXVLQJVHJPHQW entered into a de- Lodha Group, which has YHORSPHQW DJUHH- SUHVHQFH LQ 0XPEDL 3XQH DQG PHQW ZLWK 2PNDU /RQGRQ SURSHUW\ PDUNHWV KDG 5HDOWRUV 'HYHO- DFKLHYHG VDOHV ERRNLQJV RI 5V RSHUVIRUDDFUH FURUHGXULQJ,Q project in Ma- WKHFRPSDQ\GHOLYHUHG KDOD[PL XQLWVWRFXVWRPHUV

58 CONSTRUCTION WEEK NOVEMBER 2018 COVER STORY

RANK REAL ESTATE 37 SUNTECK REALTY 6.33/10 Kamal Khetan, CMD

Sunteck Realty received an overwhelming response for recently launched Phase I of its project Sunteck West World at Naigaon and has sold more than 2,000 apartments out of the total inventory of 2,476 apartments with sales of more than Rs 600 crore. In quarter ended June, the company reported 67% year-on-year jump in consolidated QHWSURͤWDW5VFURUH5HYHQXHIURPRSHUDWLRQVURVHWR5VFURUHOHGE\ LPSURYHGQHZERRNLQJVDQGFROOHFWLRQV7KHLPSURYHPHQWLQPDUNHWVHQWLPHQWVZLWK increased traction for its BKC and ODC, Goregaon west projects led to strong growth in the operational performance. In the forthcoming quarter, the realty developer In the forthcoming quarter, LVORRNLQJWREHSUHVHQWDFURVVWKHSULFLQJ the realty developer is spectrum in the residential segment, under looking to be present the asset light joint development model. across the pricing spectrum 7KHFRPSDQ\LVDOVRORRNLQJDWSLFNLQJXS in the residential segment, GLVWUHVVHGSURMHFWVZLWKLQ0XPEDL0HWUR- under the asset light joint politan Region (MMR). development model. 6XQWHFN5HDOW\LVD0XPEDLEDVHGGHYHO- opment company, catering to the premium ultra-luxury and luxury residential segment.

REAL ESTATE RANK KOLTE PATIL 38 Rajesh Patil, CMD 6.3/10

.ROWH3DWLOLVVRRQODXQFKLQJ,Y\1LDDVDSDUWRIWKHPDJQLͤFHQW,Y\(VWDWHLQ:DJKROL :DJKROLFDPHXQGHUWKHEX\HU VUDGDUDIWHUWKHVZLIWJURZWKZLWQHVVHGE\.KDUDGL7R- GD\WKLVVXEXUELVDPXFKVRXJKWDIWHUGHVWLQDWLRQWKDQNVWRLWVSUR[LPLW\WRVFKRROV convenience stores, healthcare centres, etc. In August, the company launched ‘ORO Avenue’, a sector at its flagship township SURMHFW/LIH5HSXEOLFLQ3XQH/LIH5HSXEOLFLVZHVWHUQ3XQH̵VPRVWDVSLUDWLRQDOWRZQ- ship spread across 373 acres of undulating JUHHQVEHLQJGHYHORSHGQHDU3XQH̵V,7KXE +LQMHZDGL7KHͤUVWSKDVHRIWKHSURMHFWKDV Life Republic is western DOUHDG\EHHQFRPSOHWHGDQGGHOLYHUHGZLWK- Pune’s most aspirational LQWKHVWLSXODWHGWLPHIUDPH/LIH5HSXEOLFLV township spread across 373 currently home to 3,000+ residents. acres of undulating greens, $OVRWKHGHYHORSHUKDGDQQRXQFHGEX\HUV being developed near FRXOG ERRN DSDUWPHQWV DW WKH ODXQFK SULFH Pune’s IT hub, Hinjewadi. HYHQ IRU SURMHFWV QHDULQJ FRPSOHWLRQ 7KH 3XQHEDVHGGHYHORSHUZDVZLOOLQJWRIRUHJR the premium over the life cycle of the project, ZKLFKZDVW\SLFDOO\DURXQG

60 CONSTRUCTION WEEK NOVEMBER 2018 COVER STORY

RANK REAL ESTATE RANK INFRASTRUCTURE 39 THE WADHWA GROUP 40 RELIANCE INFRASTRUCTURE 6/10 Navin Makhija, MD 5.93/10 Anil Ambani, Promoter

The Wadhwa Wise RInfra has bagged City a project by The a contract worth Rs Wadhwa Group is 1,907 crore from the going to deliver around MSRDC for package-7 10,000 affordable of Nagpur- Mumbai homes and it will also Samruddhi Expressway hand over 1,000 units project. to the government.

In May, The Wadhwa Group raised Rs 650 crore 5HOLDQFH,QIUDVWUXFWXUH 5,QIUD KDVZRQWKUHHSDFNDJ- IURP 31% +RXVLQJ )LQDQFH DV FRQVWUXFWLRQ ͤ- HVIRUWKH0XPEDL0HWUROLQHSURMHFWZRUWK5V QDQFHIRUWKHͤUVWSKDVHRILWVPDLGHQDIIRUGDEOH ELOOLRQ LQ WZR VHSDUDWH ELGV 5HOLDQFH ,QIUDVWUXFWXUH KRXVLQJ SURMHFW VSUHDG RYHU DFUH LQ 3DQYHO (3&KDVUHFHLYHGWKH/HWWHURI$ZDUG /2$ IURPWKH QHDU0XPEDL7KLVLVWKHͤUVWLQWHJUDWHGSURMHFWWR 0XPEDL 0HWURSROLWDQ 5HJLRQ 'HYHORSPHQW $XWKRULW\ EHGHYHORSHGXQGHUWKH1DYL0XPEDL$LUSRUW,Q- 005'$ IRUWKUHHSDFNDJHVWRGHVLJQDQGFRQVWUXFW IOXHQFH1RWLͤ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t's other project, W54, in Matunga offers its resi- LQYROYHVWKHGHYHORSPHQWRISDFNDJHIURPNPWR GHQWVRSXOHQFHIXQFWLRQDOLW\DSOHWKRUDRIDPHQL- 347km, which is a part of Maharashtra government's WLHVDQGH[FOXVLYLW\ IODJVKLS5VFURUHDQGRYHUNPORQJ6DP- UXGGKL0DKDPDUJSURMHFW

62 CONSTRUCTION WEEK NOVEMBER 2018 COVER STORY

RANK INFRASTRUCTURE 41 IRB INFRASTRUCTURE 5.85/10 Virendra Mhaiskar, CMD

,5% ,QIUDVWUXFWXUH 'HYHORSHUV SRVWHG D QHW SURͤW RI 5V FURUH WKXV UHJLVWHULQJ JURZWKRIDJDLQVW5VFURUHLQWKHFRUUHVSRQGLQJTXDUWHURI)<7KHKLJK- OLJKWVRIEXVLQHVVSHUIRUPDQFHLQ4)<DUHWKHFRQFHVVLRQDJUHHPHQWVVLJQHG IRUDOOQHZSURMHFWVZLWK1+$,6L[ODQLQJRI+DSXUE\SDVVWR0RUDGDEDGVHFWLRQLQ- FOXGLQJ+DSXUE\SDVVRQ1+ 1HZ1+ LQ8WWDU3UDGHVKRQ'%)27EDVLV(LJKW ODQLQJRI9DGRGDUD.LPH[SUHVVZD\LQ*XMDUDWXQGHU+\EULG$QQXLW\DQG3XGXFKHUU\ 3RRQGL\DQNXSSDPDQG3RRQGL\DQNXSSDP6DWWDQDWKSXUDPSURMHFWVLQ7DPLO1DGX ,Q 0DUFK ,5% ,QIUD EDJJHG RQH SURM- HFWXQGHU%27VSDFHIRUVL[ODQLQJRIWKH In March, IRB Infra bagged NP VWUHWFK RQ 1+ RQ +DSXU E\- one project under BOT SDVVIURP+DSXUWR0RUDGDEDGIRUZRUWK space, for six laning of the 5VFURUHIURP1+$,LQ8WWDU3UDGHVK 99.87km stretch on NH-9 ,WKDVWLHGXS5VFURUHͤQDQFHVIURP on Hapur bypass, from OHQGHUV IRU D SURMHFW WR ZLGHQ D VHFWLRQ RI Hapur to Moradabad, for 9DGRGDUD0XPEDL([SUHVVZD\7KHVXSSRUW worth Rs 3,400 crore from IURP1+$,IRUWKHSURMHFWZLOOEH5VFURUH NHAI in Uttar Pradesh. ZKLOHWKHHTXLW\FRQWULEXWLRQIURPWKHFRP- SDQ\ZLOOEH5VFURUH

REAL ESTATE RANK HIRANANDANI COMMUNITIES 42 Niranjan Hiranandani, Founder & MD 5.8/10

,Q$SULOWKLV\HDU+LUDQDQGDQL*URXSODXQFKHGQHZXEHUOX[XU\SURMHFWUHIHUUHGDV̴2QH +LUDQDQGDQL3DUN̵RQPDLQ*KRGEXQGHU5RDG7KDQH,QWKHZDYHRIDIIRUGDEOHKRXVLQJ ZKHUHHYHU\GHYHORSHUIRUD\VLQWRDIIRUGDEOHVHJPHQW+LUDQDQGDQL*URXSLVDSLRQHHULQ WKHOX[XU\KRXVLQJJRHVFRQWUDVW ,Q0D\WKHFRPSDQ\DQQRXQFHG+LUDQDQGDQL3DUNVLQ2UDJDGDP&KHQQDLZKLFKRI- IHUVDVSRUWVWKHPHGOLIHVW\OHSURMHFWZLWKKROLVWLFFRPPXQLW\OLYLQJ$VDYDOXHDGGHG VHUYLFHWKHSURMHFWRIIHUVSODQVIRUDFXV- WRPLVHG YLOOD LQ WHUPV RI GHVLJQ DQG FRQ- VWUXFWLRQEXLOWDVSHUWKH+LUDQDQGDQL̴QHR The company is planning to FODVVLFDODUFKLWHFWXUH̵GHVLJQ invest Rs 25 billion into two 7KHFRPSDQ\LVDOVRSODQQLQJWRLQYHVW5V major projects, marking its ELOOLRQ LQWR WZR PDMRU SURMHFWV PDUNLQJ entry into the warehousing LWVHQWU\LQWRWKHZDUHKRXVLQJDQGORJLVWLFV and logistics space. VSDFH,WSODQVWRJHWDWRHKROGLQDXWRPR- ELOHV 060(V DQG HFRPPHUFH ZDUHKRXV- LQJ E\ 4 7KH UHDO HVWDWH JLDQW LV GHYHORSLQJDFUHVLQ3XQHDFUHVLQ &KHQQDLDQGDFUHVLQ1DVKLN

64 CONSTRUCTION WEEK NOVEMBER 2018 COVER STORY

RANK INFRASTRUCTURE RANK REAL ESTATE/INFRASTRUCTURE 43 PATEL ENGINEERING 44 THDC; TATA REALTY & INFRA 5.75/10 Rupen Patel, CMD 5.72/10 Sanjay Dutt, MD & CEO

The company bagged The Hinjewadi- two hydro projects Shivajinagar metro and a tunnel project route received a major aggregating Rs 2,400 push after the PMRDA, crore. It received an LoI awarded the contract from TANGEDCO for for this route to a joint construction of Kundah venture of Tata Realty Pumped Storage Hydro Infra and Siemens. Electric Project.

Patel Engineering, founded in 1949, is one of the In June, the Tata Group said that it was looking at mon- major infrastructure and construction services etising income-producing assets worth Rs 800-1,000 company in India. In August, the company bagged crore of two companies as it restructures its infra- two hydro projects and a tunnel project aggregat- structure and real estate businesses. Sanjay Dutt was ing Rs 2,400 crore. It received an LoI from Tamil appointed MD & CEO of Tata Realty and Infrastructure Nadu Generation and Distribution Corporation and will also supervise operations at Tata Housing De- (TANGEDCO) for construction of Kundah Pumped velopment Company. Storage Hydro Electric Project (500MW) near Ooty, Last month, the Hinjewadi-Shivajinagar metro costing Rs 668 crore. The project is funded by Ru- route received a major push after the Pune met- UDO(OHFWULͤFDWLRQ&RUSRUDWLRQ 5(& ropolitan region development authority (PMRDA), It has received another hydro project, which is which is executing the project, awarded the con- being executed by SJVN ARUN-3 Power Devel- tract for this route to a joint venture of Tata Realty opment, a wholly-owned subsidiary of Satluj Jal Infra and Siemens. The project, which is expected to Vidyut Nigam. This apart, the company received cost $1.2bn, consists of a 23km elevated metro line LoI from MCGM for construction of tunnel from running between the Rajiv Gandhi Infotech Park in Amar Mahal (Hedgwar Udyan) to Trombay Low Hinjawadi to the inner suburb of Shivajinagar. It will Reservoir (TLLR) and further up to Trombay High- have 23 stations. The 23km line will be developed Level Reservoir (THLR) for worth Rs 618 crore. on a public-private partnership basis under the de- VLJQEXLOGͤQDQFHRSHUDWHWUDQVIHUPRGH

66 CONSTRUCTION WEEK NOVEMBER 2018 COVER STORY

RANK INFRASTRUCTURE 45 GAYATRI PROJECTS 5.6/10 TV Sandeep Kumar Reddy, MD

Gayatri Projects has been on a projects bagging spree. The pure play EPC company has received three orders amounting to Rs 404 crore from the Bihar State Road Devel- opment Corporation. These projects will be executed on an EPC basis in-line with the management's decision to follow an asset-light model. Last month, it bagged a Rs 1,312 crore road project in Maharashtra. The order is for construction of access controlled Nagpur-Mumbai super communication expressway (Maharashtra Samruddhi Maha Marg) on EPC mode for package-11, from 503km to 533km in Ahmednagar. The company was also awarded with It has bagged a Rs 1,312 the add-on works to its existing works of crore road project in Chintalapudi Lift Irrigation Scheme. Irriga- Maharashtra. The order is tion contracts have been a strong suit of for construction of access Gayatri Projects since inception. controlled Nagpur-Mumbai GPL is the flagship company of the Gay- super communication atri Group that has interests in infrastruc- expressway. ture, power, hospitality and real estate. Roads formed 63%, irrigation 25% and others 12% of the company’s order inflow.

REAL ESTATE RANK RAHEJA UNIVERSAL 46 Ashish Raheja, MD 5.55/10

Raheja Universal was in the news when it was announced that Mumbai will soon get $VLD̵VKLJKHVWUHVLGHQWLDOLQͤQLW\SRRO$HRQ7KHIRRWORQJURRIWRSLQͤQLW\SRROZLOO be located atop Raheja Universal’s upcoming project, Raheja Imperia I. The 60-storey 5DKHMD,PSHULD,LVDJUHHQͤHOGSURMHFWEXLOWRQDYLUJLQSORWLPSO\LQJDEVROXWHSULYDF\ and unmatched luxury. In another move, the company has partnered with private general insurer HDFC Ergo to adopt title insurance policy for their proj- HFWV 7KH FLW\EDVHG GHYHORSHU LV WKH ͤUVW realty player in the country to adopt title The city-based developer insurance policy as per the guidelines of LVWKHͤUVWUHDOW\SOD\HULQ the RERA. The policies will provide security the country to adopt title to property developers and new age buy- insurance policy as per the ers against defects in title of the property. It guidelines of RERA. has also announced the launch of the RUPL Mobile App for residents/clients for two of its projects, Raheja Exotica Sorento (Madh Island), and Raheja District II (Juinagar, Navi Mumbai).

68 CONSTRUCTION WEEK NOVEMBER 2018 COVER STORY

RANK REAL ESTATE RANK REAL ESTATE 47 CASAGRAND 48 GAURS GROUP 5.5/10 Arun MN, Founder & MD 5.48/10 Manoj Gaur, MD

Till date, it has The company has developed and always been into delivered 2.5 million developing townships sq-ft of residential but may not take up space in Chennai, new projects of large Coimbatore and sizes any more. Gaur Bengaluru through 70 prefers to build smaller projects. projects of 10-12 acres that can be completed in 3-4 years.

One of the leading builders in South India, Casa- Gaursons India, based in NCR, is changing its business grand Builder clinched sales worth Rs 170 crore by model. The company has always been into developing selling 321 flats across Chennai and Coimbatore. townships but may not take up new projects of large &DVDJUDQG RIIHUHG VSHFLDO SULFH LQ EHQHͤW WR LWV sizes any more. Gaur prefers to build smaller projects buyers. The Chennai-based developer aspires to of 10-12 acres that can be completed in 3-4 years. be among the top three builders in the South in the This is mainly because large land parcels are scarce. next three years. 0RUHRYHUZLWK5(5$WKHͤQDQFLDOPRGHOKDVFKDQJHG To attain its vision, Casa Grande will take up sev- and projects have become time-bound. eral projects and construct 8,000-10,000 dwelling Last year, the company said it would invest Rs 150 XQLWVLQͤYHFLWLHV7LOOGDWHLWKDVGHYHORSHGDQG crore to develop a luxury residential project in Noida, delivered 2.5 million sq-ft of residential space in and also enter the affordable housing segment in a big Chennai, Coimbatore and Bengaluru through 70 way to tap rising demand for low-cost homes. It has SURMHFWV $QRWKHU ͤYH PLOOLRQ VTIW RI UHVLGHQWLDO plans for 10,000 low-cost homes. space is under construction. It will be entering It is also investing Rs 150 crore in its education Andhra Pradesh and Telangana soon. business as it plans to open two schools and one in- It is also developing the Casa Grande Distripark, stitution for higher studies in Uttar Pradesh. In 2014, which offers plug-and-play warehousing facilities the company had forayed into education sector and at Mappedu in Tiruvallur district. Of the 93 acres, opened 'Gaurs International School' in its township at 50 acres had already been leased out. Greater Noida (West).

70 CONSTRUCTION WEEK NOVEMBER 2018 COVER STORY

RANK INFRASTRUCTURE 49 PUNJ LLOYD 5.2/10 Atul Punj, Chairman

)URPLQIUDVWUXFWXUHWRGHIHQFHLVZKDW3XQM/OR\GKDVEHHQGRLQJ'LYHUVLͤHGJURXS 3XQM/OR\GLVVHWWRH[SDQGLWV*ZDOLRUIDFLOLW\EHVLGHVH[SORULQJRWKHUVWDWHVOLNH.DU- QDWDND DQG 5DMDVWKDQ WR VHW XS PDQXIDFWXULQJ XQLWV 7KH JURXS LV ZLOOLQJ WR PDNH LQYHVWPHQWVLQWKLVUHJDUGWKDWFRXOGEHLQWKHUDQJHRIXSWR5VFURUHGHSHQG- LQJRQWKHRSSRUWXQLW\7KHFRPSDQ\KDVLWVPDQXIDFWXULQJDQGV\VWHPVLQWHJUDWLRQ IDFLOLW\LQ0DODQSXUQHDU*ZDOLRUZKLFKLVVDLGWREHRQHRIWKHODUJHVWIDFLOLWLHVRILWV NLQGE\DSULYDWHͤUP7KHIDFLOLW\LVXVHGIRUPDFKLQLQJZHOGLQJDQGIDEULFDWLRQRISUH- FLVLRQHQJLQHHUHGFRPSRQHQWVDVVHPEO\ LQWHJUDWLRQ DQG WHVWLQJ RI ZHDSRQV DQG Punj Lloyd Group is a PDLQWHQDQFHDQGUHSDLUIDFLOLW\IRUH[LVWLQJ GLYHUVLͤHGFRQJORPHUDWH ZHDSRQVZLWKWKH,QGLDQ$UP\ RIIHULQJ(3&VHUYLFHVLQ 3XQM /OR\G *URXS LV D GLYHUVLͤHG FRQ- HQHUJ\DQGLQIUDVWUXFWXUH glomerate offering EPC services in energy DORQJZLWKHQJLQHHULQJDQG and infrastructure along with engineering PDQXIDFWXULQJFDSDELOLWLHV DQG PDQXIDFWXULQJ FDSDELOLWLHV LQ WKH GH- LQWKHGHIHQFHVHFWRU IHQFHVHFWRU7KLV\HDULWUHSRUWHGDVWDQG- DORQHSURͤWRI5VFURUHIRUWKHTXDUWHU HQGHG0DUFK

REAL ESTATE RANK KANAKIA SPACES 50 Himanshu Kanakia, MD 5.1/10

$IWHU PDNLQJ ZDYHV ZLWK LQWHUQDWLRQDO VWDUV UHDOW\ GHYHORSHU .DQDNLD*URXSKDVDFTXLUHGQHDUO\DFUHSULPHODQGSDUFHOLQ WKH3RZDLVXEXUERI0XPEDLIRUDURXQG5VFURUHIURP6N\- OLQH0DQVLRQVDQGSULYDWHHTXLW\IXQGSURPRWHGE\$QDQG-DLQ ,QWKHFRPPHUFLDOVSDFHLWKDVOHDVHGRXWVTIWRIͤFH VSDFHVLQ0XPEDLWR7UDGH%XOOV6DED7HFKQRORJLHVDQG.<& (YHQWVDPRQJRWKHUVLQLWV.DQDNLD:DOO6WUHHW 7KH *URXS KDV DOVR HQWHUHG LQWR DQ DJUHHPHQW ZLWK ,QGLD 7XEH0LOOVWREX\LWVDFUHSORWLQ9LNKUROLLQVXEXUEDQ0XPEDL 7KH*URXSKDVDOVRHQWHUHG IRU5VFURUH7KHEXLOGHUKDVHQWHUHGLQWRDQ0R8ZLWK,70 LQWRDQDJUHHPHQWZLWK,QGLD DQLQGXVWULDOHTXLSPHQWPDNHUWREX\WKHSORWKRXVLQJWKHODW- 7XEH0LOOVWREX\LWVDFUH WHU VRIͤFHDQGIDFWRU\:LWKDGHYHORSPHQWSRWHQWLDORIDURXQG SORWLQ9LNKUROLLQVXEXUEDQ ODNKVTIWWKH.DQDNLDJURXSLVORRNLQJWRXWLOLVHWKHODQG 0XPEDLIRU5VFURUH HLWKHUIRUPL[HGXVHGGHYHORSPHQWRUEXLOGLQJUHVLGHQWLDOSURM- HFWV$VSDUWRIWKHGHDOWKH.DQDNLDVZLOOEX\RXWWKHVSHFLDO SXUSRVHYHKLFOH 639 ZKLFKKROGVWKHODQGLQFOXGLQJWKHVWDNHV RIDOOWKHVKDUHKROGHUVRIWKHͤUP

72 CONSTRUCTION WEEK NOVEMBER 2018