Press Release

8th Annual Construction World Annual Awards 2010 announced

The industry's most sought after event celebrated the exceptional work by companies and individuals in presence of the Governor of Maharashtra

Mumbai, October 19, 2010: It is billed as the biggest night for the Indian construction industry. The 8th Construction World (CW) Annual Awards ceremony, organised by ASAPP media celebrated the work of companies in the construction and allied industry were held in the presence of His Excellency Shri K Sankaranarayanan, Honourable Governor of Maharashtra.

Held every year since its inception in 2003 it is the first set of awards for this industry and most widely accepted by the construction fraternity. The awards muster 400 top professionals and business owners from the industry to be audience to the felicitation of the industry leaders.

The awardees were felicitated for their exceptional work by two stalwarts in the industry - R C Sinha, Vice Chairman & MD of Maharashtra Airport Development Company (MADC) and Dr E Sreedharan, MD, Delhi Metro Rail Corporation, who made special address to the gathering along with K V Srinivasan, CEO, Reliance Consumer Finance. Incidentally, Dr Sreedharan was awarded with CW Man of the Year award.

CW is the one of the leading construction business magazine in India since last 14 years. It is the most trusted information source of the professionals and business owners in construction business as it provides the most authentic, up-to-date & timely information. Consistency and excellence have made CW a highly respected brand within the construction fraternity.

The awards over the years have benefited the industry, at large. They honour excellence in the sunrise sector of construction and give the companies in construction sector their due recognition. The awards felicitate the best companies thereby inspiring the industry to raise benchmarks of performance. They have also helped in identifying emerging companies.

CW Annual Awards are based on the financials and profitability of companies and thus to become a part of the nomination process, companies come forward and share their financial information. The winners, selected through a perception mapping process, were finalized after an exhaustive survey conducted among professionals within the construction and architecture industry. Hence, the awards have ushered transparency and awareness about corporate governance, thereby building a positive general perception of the industry.

Making the event memorable, the 14th edition of CW's Annual Magazine was announced on the occasion. This collector's issue has some in-depth and exclusive stories on the industry.

Commenting on the awards, His Excellency Shri K Sankaranarayanan said "The awards gives recognition to the outstanding work by the builders and architects and supports the promising companies."

Pratap Padode, Managing Director, ASAPP Media Information Group said, ''The awards function is yet another platform for ASAPP to connect various business segments in the construction industry. It is also our privilege to honour the best in the industry. The grand ceremony is a testimony to the fact that India has tremendous potential for growth in the construction sector.

Padode also pointed out that construction, the second largest economic activity after agriculture, accounts for 8.5 per cent of India's GDP. In the past five years, 2005-06 to 2009-10, construction GDP in real term grew at the rate of nine per cent, beating the overall GDP growth of 8.5 per cent, he said. The top 55 companies, with aggregate revenue of Rs 135,000 crore in 2009-10 accounted for one-third of construction GDP and their revenues grew over 30 per cent per annum.