The construction and real estate sector in India is a $150 billion industry and is set to grow seven times by 2028 (almost to $1 trillion)!
Unfortunately, the industry has been plagued with huge issues such as project delays and cost overruns. On an average, projects are delayed by18 months and almost 80 per cent projects exceed budgets. According to a recent study, in the last four years, only 15 per cent of the companies have handed over their projects on time to the end consumers. The key reason: Low productivity, ancient working techniques and slow or no technology adoption.
Existing technologies do not address the issues on the ground. Also, the top management of builders have limited visibility on project delays, resulting in increased costs and low customer satisfaction.
Backed with a unique blend of industry and tech experience, the founders of FalconBrick – Gautam Mayur, Aditya Shankar and Sashi Kiran – came together to solve the above issues using digital technology and the power of mobile. This vigour led to the development of FalconBrick Technologies. The aim was to digitise construction operations is in a way that it helps accelerate projects and allows much earlier handover to customers.
And today, FalconBrick Technologies has come up with one of India’s first end-to-end, mobile-based construction management solution for real estate builders and construction companies. “The mobile app helps builders accelerate their projects and complete them up to 20 per cent earlier, saving costs by up to 15 per cent and providing a much superior quality to the end consumers by reducing delays, improving efficiency and bringing in transparency and accountability,” says Sashi Kiran, Founder & Director, FalconBrick Technologies.
Kiran informs that the solution brings all teams involved in any construction project onto a common platform with two primary components:
• A workflow solution on an easy-to-use mobile app: This is used by engineers and even contractors to track the project’s progress at a detailed level (flat-wise/activity-wise) and monitor site activities, contractor tasks and inspection checklists from their own mobile phones.
• A powerful package of real-time data analytics and live dashboards: This provides real-time information to senior management on the project’s progress, predicts delays and helps builders benchmark projects, contractors and employees.
The mobile app is completely customisable and addresses every stage of a project life-cycle, as Kiran mentions, “from project start till handover to the customers.” This includes: “Excavation and civil structures, entire finishing of apartments and commercial structures, inspections and handover to end-customers, and post possession and facilities management.”
• Year of establishment: 2016
• Growth graph: Grown to multiple cities, more than 60 leading customers and about 100 projects.
• Reach: Bengaluru, Mumbai, Pune, Delhi-NCR, Kolkata, Hyderabad and Chennai
• Clientele: Embassy Group, Aparna Builders, JLL, L&T Realty, Brigade Group, K Raheja, SalarpuriaSattva, Dosti Realty, Rohan Builders, M3M Group and PS Group.
• Aim: To go live at about 1,000 projects pan-India across the top 10-15 metros as well as Tier-II and Tier-III cities, and also tap international markets.