Over half of India’s construction companies currently only spend 1-3% of their annual turnover on technologies
Technology

Over half of India’s construction companies currently only spend 1-3% of their annual turnover on technologies

- Pratap Padode, Founder, ASAPP Info Global Group, and Editor-in-Chief, CONSTRUCTION WORLD We are living in the 21st century where being a part of the information revolution is the only way to be. You can pay digitally, you can view digitally, you can have meetings digitally, you...

- Pratap Padode, Founder, ASAPP Info Global Group, and Editor-in-Chief, CONSTRUCTION WORLD We are living in the 21st century where being a part of the information revolution is the only way to be. You can pay digitally, you can view digitally, you can have meetings digitally, you can take medical advice digitally, you can conduct arbitration matters digitally, you can bid digitally, you can receive subsidies and loans digitally, you can pay taxes digitally; now you can also have faceless assessments digitally, you can hold businesses to ransom digitally and you can bring down governments or influence elections digitally!! Digital applications have also made inroads into our industry. Our architects use software for designing plans, our engineers use software applications in planning precise executions, our site surveyors use drones in surveying sites, technology is used in soil investigation. With BIM, digital 3D models that include data associated with physical and functional characteristics can be designed. BIM allows architects, engineers and contractors to collaborate on coordinated models. According to the results of the latest IDC global survey, Indian private companies are spearheading the BIM revolution and it is mostly being used for overseas clients. Recent examples include Bangalore Airport and Delhi Metro Rail but the industry as a whole is lagging in this regard. According to IDC’s findings, only 3 per cent of companies have successfully traversed the digital transformation journey. Thirty-two per cent of construction companies currently only spend 1-3 per cent of their annual turnover on technologies, while just 2.5 per cent spend over 25 per cent. Despite the benefits, 95 per cent of organisations worldwide use digital construction solutions in just 50 per cent or less of their projects, while only 2 per cent use digital construction solutions in over 60 per cent of their projects. Over half of India’s construction companies, including those involved in rail, road and housing projects, currently only spend 1-3 per cent of their annual turnover on technologies, while one-third spend 3-5 per cent, according to a survey The benefits of tech include overall project management and performance; improving health and safety; control of time and scheduling; control of costs and waste; collaboration among different stakeholders; project documentation and stakeholder engagement; and a single source of truth of project data. In India, many companies are using technologies like augmented reality to enhance the home-buying experience. Here the benefit is tangible and is one example of why other benefits that are more subtle do not have a buy-in. In times of COVID, labour costs have gone up and skilled labour would cost even more. It is time to pay for output than input. It is time to evaluate outcome, not just income. Trust is another area that scores during such times of crisis and rewards trust owners with far greater premium than average. A brand that commands trust, quality, design and value is the brand to aspire to be. Each of the winners at CWAB have a tremendous brand of their own that stands for many of the attributes that stakeholders in the industry wish to see in the best. As American philosopher Ralph Waldo Emerson said, “Nothing great was ever achieved without enthusiasm.”

Related Stories

Gold Stories

Next Story
Infrastructure Energy

Asian Energy Services Q1 FY27 PAT Rises 129 Per Cent

Asian Energy Services Limited reported a 129 per cent year-on-year rise in net profit to Rs 128 million for Q1 FY27, compared with the corresponding quarter last year.Revenue increased 135 per cent year-on-year to Rs 2.71 billion, supported by continued momentum across its services business, disciplined execution and contributions from domestic and international operations. EBITDA grew 81 per cent year-on-year during the quarter.As of June 30, 2026, the company’s standalone order book stood at Rs 17.54 billion, with around 60 per cent coming from oil and gas services and 40 per cent from min..

Next Story
Infrastructure Urban

BioBTX to Build First Commercial-Scale Circular Chemicals Plant

Dutch circular chemistry technology developer BioBTX is building what it says will be the world’s first commercial-scale plant to convert mixed plastic waste into high-quality aromatic chemicals using its proprietary Integrated Catalytic Cracking Process (ICCP) technology.The facility will be built at Chemical Park Delfzijl on the northern coast of the Netherlands and is expected to create 35 jobs. Covestro, which has been a shareholder and strategic partner of BioBTX since 2024, holds a mid-single-digit million-euro investment in the company.BioBTX’s ICCP technology uses catalytic pyrolys..

Next Story
Real Estate

Awfis Q1 FY27 PAT Jumps 140% as Revenue Rises 27%

Awfis Space Solutions reported a 140 per cent year-on-year rise in consolidated profit after tax (PAT) to Rs 240 million for Q1 FY27, compared with Rs 100 million in the corresponding quarter last year.Revenue from operations increased 27 per cent to Rs 4.25 billion from Rs 3.35 billion, while EBITDA rose 28 per cent to Rs 1.62 billion. EBITDA margin improved to 38.2 per cent from 37.8 per cent. Profit before tax increased 135 per cent to Rs 240 million.The company's co-working business recorded 27 per cent year-on-year growth, supported by demand from enterprises, Global Capability Centres (G..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement