Expressing his approval of the initiatives proposed by the government and the developments that have ensued, he said:
The narrative has shifted from unclogging, untangling and unblocking to easing, simplifying and digitising, and is now in the process of shifting to acting within timelines.
Laws have been deleted, rules have been tweaked, and impetus to be proactive and business-friendly within the framework of the law has been provided.
Smart Cities have replaced the urban renewal mission and Swachh Bharat has become the common code of call.
India has been marketed globally like never before and this is when its growth in GDP is at its most feverish pace.
On CW´s 20-year journey: Over the years, we have observed the shift in the perception of this industry from a ´black money-infested muggers´ game´ to getting closer to a ´nation-building´ institution status. And most recently, with the digital world taking India by storm, we have extended our expertise into the wonderful world of digital. A small example has been the live streaming of this event, watched by several thousand viewers across India.
On the jury meet and methodology: Winning the CW Award is not easy. Our jury meets have become legendary for their ability of not only bringing diverse people from this industry, but throwing up ideas and insights on the industry.
First, for the Fastest Growing Companies, we take data for the last six years. We consider and give equal weightage to growth in revenue and profits after tax. Then, we add a gradually increasing weightage, with the most recent year having the most, and the oldest (of the six years) having the least. Companies making losses in the most recent year are excluded. After computing a composite index based on weightage and ranking, we put the findings up to the jury, which carries the right of veto. The jury examines qualitative factors such as quality of management, reputation, etc. So these companies today, have stood the test of quantitative and qualitative filters.
The Top Challengers have a different filtration process.
Here, companies from various segments in the construction value chain are considered. We focus on net sales, PBDIT and net PAT. Total debt and net worth have also been examined. Inventory levels and receivables have been observed to eliminate inefficiency. Such stringent evaluation helped us pinpoint the challengers who have shown their true mettle.
To view his entire speech, log on to www.ConstructionWorld.in/Awards/videos?