Press Release Summary: Hyderabad-based MAK group, with interests in real estate and hospitality industry, is mulling over the idea of setting up a construction arm to handle the construction activities of all the subsidiaries operating within the group.
Press Release Body: Hyderabad-based MAK group, with interests in real estate and hospitality industry, is mulling over the idea of setting up a construction arm to handle the construction activities of all the subsidiaries operating within the group.
Speaking to FE, Murali K Reddy, chairman and one of the promoters of the group said, right now the construction works for the real estate projects of the group are being outsourced to contractors.
“We are thinking of floating an entity within the group which can do the construction works for the subsidiaries. Sunway City Berhad, Malaysia, our partner for the gated township project which is coming up near the Hyderabad International Airport has a seperate entity to perform the construction activities for the subsidiaries within the Sunway group. We are trying to replicate this model in our organisation and this should give us an edge,” he said adding the challenge for any real estate players today is availability of skilled manpower. And the attrition rate is pretty high in the industry.
If the construction arm is in place to handle the inhouse requirements then the group would be able to improve the sustainability and profitability levels.
“We will be able to bring in our core values if we have a separate construction entity. The entity can initially look at the works of the subsidiaries and at a later stage can be used to do projects outside the group. We want to do this business. Infact we are looking for a right candidate who can build and head this business with our guidance,” he said.
Talking about private equity (PE) funds, Mr Reddy said lot of PE players have come forward to invest in the projects of the company.
“But we have not given green signal to any of those people because right now there is no dearth of funds for the projects that are on hand. We will explore this route for our future growth story,” he added............
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