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Construction and the allied industries sectors won the day at the recently concluded CONSTRUCTION WORLD-NICMAR awards ceremony.
Indian infrastructure is booming. Golden Quadrilateral, North South East West Corridor, ` river-interlinking project, Swajaldhara and Sagar Mala projects, among others, have begun ringing in a new, progressive and prosperous India.
The resurgent infrastructural revival has infused new energy and enthusiasm in the construction giants of the country. The builders of modern India are marching ahead with renewed vigour. The brick-and-mortar industry is once again set to regain glory in all its magnificence. |
| At this opportune juncture, CONSTRUCTION WORLD, a premier construction magazine involved in chronicling the milestones and landmarks of the construction industry, has been highlighting the giant strides made by construction giants of modern India. |
Dr PS Rana (right), CMD, HUDCO, inaugurated CONSTRUCTION WORLD-NICMAR 2004 Awards function by lighting the ceremonial lamp. |
Audience interaction as the evening unfolded during CONSTRUCTION WORLD-NICMAR 2004 Awards function. |
Celebrating excellence
Even as the first signs of a grand revival in the construction sector were visible on the horizon in 2002, we successfully accomplished the Herculean task of ranking Indian construction and allied industries. Our second ranking in 2003 culminated in the first-ever CONSTRUCTION WORLD Awards event in a glittering ceremony in Hyderabad last year.
As construction industry has been making giant strides this year, it was but natural and incumbent upon us to bring to light the builders of modern India once more. Besides, this is a very special year for us. CONSTRUCTION WORLD stepped into the eighth year of its publication. We could not have a better reason to celebrate our eighth year, coinciding with miraculous changes taking place in the construction industry.
What better way then to celebrate, especially for a publication? Of course, by coming out with a collector's annual issue. This desire of ours was manifest in our recently launched Eighth Anniversary Issue which, apart from setting the ball rolling for the most coveted CONSTRUCTION WORLD awards, meticulously ranked India's top construction companies, construction equipment manufacturing companies and construction material manufacturing companies on several criteria like growth, turnover and profitability. The result has been a landmark document on the country's construction sector, ranking the building blocks of modern India. |
N Nageshwar Rao, Chairman, Madhucon Projects, receives the award for the Fastest Growing Construction Company |
Nageshwar Rao addressing the audience after accepting the award for the Fastest Growing Construction Company |
Setting benchmarks
Ranking the big guns of any industry is a very challenging responsibility. Who better to judge experts than experts themselves? In keeping with this view, we constituted an experts panel comprising Prof KN Vaid, Professor Emeritus, National Institute of Construction Management and Research (NICMAR); CR Alimchandani, Director, STUP Consultants; Rohit Modi, CEO, Tamil Nadu Road Development Corporation (TNRDC); Dr Mangesh G Korgaonkar, Director General, NICMAR; and RC Sinha, Retd Special Secretary to Goa Government, and former DG, National Academy of Construction.
Having constituted the experts panel, months of deliberation led to a broad framework of how to go about the ranking and consequent awarding of construction giants. Firstly, the vast and varied construction industry was broadly divided into three main categories, namely contractors and construction companies, construction machinery manufacturers and construction material manufacturers. Construction material manufacturers were subdivided into eight sub-categories, namely cement, steel, glass, marble, stone and granite, ceramics and sanitary ware, aluminium and wood.
The period selected for judging the performance of companies was set between 1998-'99 and 2002-'03. Then there was the pressing need to select the benchmarks for judging the best among the best. This also proved to be the biggest challenge.
While growth is identified as the best benchmark for measuring progress, it is easier said than done. The right model needs to be in place to capture the essence of growth in each company, big and small, enabling every company an equal chance to prove its worth without being overshadowed by the size of another company.
Our eighth anniversary issue deals with a detailed discussion of several problems that we confronted in selecting the most appropriate methodology to reflect an impartial and scientific assessment of the rankings and awards. The ranking was finally done after evolving a mathematical model, measuring growth in turnover and profits of the companies over the past five years.
The awards were divided into three categories for each segment of the companies to give the best possible representation for each and every type and of companies. The fastest growing, the largest and the most profitable companies were the three categories that figured in all segments of construction companies contending for the coveted awards. |
DS Kulkarni, CMD, DS Kulkarni Developers, accepts the award for the Second Fastest Growing Construction Company. |
Dr A Ramakrishna, President (Operations) and Deputy Managing Director, L&T, receives the award for the Largest Construction Company. |
Dr A Ramakrishna addressing the distinguished gathering after accepting CONSTRUCTION WORLD-NICMAR award for the Largest Construction Company. |
Asit Patel, Executive Director, Gujarat Apollo Equipments, accepts the award for the Fastest Growing Construction Equipment Company. |
VRS Natarajan, CMD, BEML, receives the award for the Second Fastest Growing Construction Equipment Company. |
Ramesh Mansukhani, Group Chairman, Man Industries (I), accepts the award for the Fastest Growing Aluminium Company. |
Grand finale
Having built a foolproof framework for ranking construction giants, the experts panel, ably assisted by NICMAR, ASAPP Media Information Group and FIRST, drew up the country's only listing of top construction and allied companies, with comprehensive rankings. Our Eighth Anniversary Issue is a comprehensive treasure trove of construction and allied industry, ranked and introduced in a very lucid and appealing manner.
At last, the big day did arrive. After months of painstaking and diligent compilation and ranking of the who-is-who of construction and allied industry majors, it was time for giving due credit to deserving candidates. It was also time for foresight and forethought over the future of the industry. Moreover, it was time for celebrations.
Finally, October 26 unfolded into a very exciting day. Grand Hyatt in Mumbai was all spruced up to welcome the heavyweights of the construction industry. The CONSTRUCTION WORLD-NICMAR 2004 Awards ceremony got off to a glittering start. Srei Infrastructure Finance and QUIPO were the official sponsors of the event. Each one was congratulating the other. It was the day of the victors. Years of sweat and toil had earned these builders of modern India the much deserved laurels.
L&T, giving no room for surprises, was adjudged India's largest construction company followed by Jaiprakash Associates Ltd and IRCON International. L&T's President (Operations) and Deputy Managing Director Dr A Ramakrishna's resonating observation - The Indian construction industry has come of age - truly set the ball rolling.
The award ceremony proved to be an apt forum for both Goliaths and Davids. Madhucon Projects was ranked the fastest growing construction company followed by DS Kulkarni Developers and IVRCL Infrastructure & Projects. L&T was again crowned the king in the category of the country's most profitable construction company followed by Dredging Corporation of India and Jaiprakash Associates.
It was then the turn of Gujarat Apollo Equipments to be ranked India's fastest growing construction equipment company. It was closely followed by Bharat Earth Movers and Ingersoll Rand. Meanwhile, Bharat Heavy Electricals was adjudged India's largest and most profitable construction equipment company. |
ML Mittal, Director - Finance, Welspun Gujarat Stahl Rohren, receives the award for the Fastest Growing Steel Company |
Gautam Chand Jain, Chairman, Pokarna, receives the award for the Largest and Fastest Growing Stone and Granite Company. |
Soon it was the turn of construction material manufacturing companies to get their rankings.
Man Industries (India) won the fastest growing aluminium company award and Hindalco Industries was adjudged the country's largest aluminium company.
While Welspun Gujarat Stahl Rohren became the fastest growing steel company, Tata Steel, beyond doubt, was ranked the country's largest steel company. Asian Paints got the double bonus of being India's largest as well as the fastest growing paint company. Kakatiya Cement Sugar & Industries was ranked the fastest growing cement company, while The Associated Cement Companies was judged the largest cement company.
It was Pokarna's turn to be crowned India's fastest growing stone and granite company. Regency Ceramics was ranked India's fastest growing tile, ceramic and sanitaryware company even as Hindustan Sanitaryware and Industries was judged the largest company in the segment. Asahi India Glass had the double distinction of being the country's fastest growing and largest glass company.
Meanwhile, Sarda Plywood Industries was ranked India's fastest growing wood company, while Greenply Industries was ranked the largest wood company in the country. Dr PS Rana, Chairman and Managing Director, Housing Urban Development Co Ltd (HUDCO), presented the awards.
The glittering awards ceremony made way for some real celebrations. While the victors had their laurels, it was certainly no time for disappointment for others. It turned out to be a big victory for the construction industry. Each player, big and small, foresaw great success coming his way as the grand event drew to a close. |
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