Navigating Building Construction Trends in India’s Central Zone: FY 2023-24 - A Zone-Wise Analysis – Part 7 of 7
Navin Rajpal
Founder, Managing Director & CEO @ Biltrax Construction Universe I Virginia Tech
In this analysis, Biltrax Construction Data provides insights into the building construction landscape of the Central Zone for FY 2023-24. This report focuses on residential, commercial, retail, hospitality, healthcare, & various miscellaneous structures documented through the BX-1 platform. It examines key trends & major players shaping the region's construction industry.
In this final article (Part 7) of our ‘Zonal Analytics’ series, we delve into the vibrant building construction landscape of the Central Zone in 2023-24. Utilizing the advanced capabilities of Biltrax's BX-1 platform, we present a detailed exploration of building projects across the Central Zone. The BX-1 platform covers various sectors, including residential, commercial, retail, hospitality, healthcare, data centers, educational facilities, multi-level car parks, entertainment venues, religious structures, & other miscellaneous building types.
Focusing on the housing and building sector, the Central Zone has witnessed remarkable growth post-pandemic, driven by increased demand for housing loans & a surge in construction activities. Government initiatives like the Pradhan Mantri Awas Yojana (PMAY) have significantly contributed to this growth by providing affordable housing to the urban poor & stimulating the real estate market.?
The healthcare sector in the Central Zone also saw a surge in construction activities. The investments in research institutes have increased, with new centers being constructed to foster innovation in healthcare. New tertiary care hospitals have been developed to offer comprehensive healthcare services, including advanced diagnostics & treatment options. Moreover, several healthcare infrastructure projects have been developed through public-private partnerships. These collaborations leverage private sector expertise & investment to complement public healthcare initiatives.
Construction Projects in the Central Zone
In the last financial year, Biltrax Construction Data, through its BX-1 platform, tracked nearly 550 building construction projects in the Central Zone. These projects encompass a total area of 77.39 Million-SqFt with an estimated construction cost of INR 23,771 Crore.
State-wise Construction Overview of the Central Zone (Based on Construction Value)
Of the total building projects tracked on BX-1 in the Central region during FY 2023-24, Madhya Pradesh leads the region with 82% of the project value. The state implemented 440 building projects covering a construction area of 63.93 Million-SqFt, valued at INR 19,422 Crore. Madhya Pradesh has witnessed a remarkable transformation in its building construction landscape, with the residential & educational sectors collectively driving 69% of the growth in the central region. This surge is fueled by urbanization and government initiatives like the Pradhan Mantri Awas Yojana, which promote affordable housing & stimulate residential construction. The educational landscape is also flourishing, with substantial investments in new schools, colleges, & universities to serve the growing population & elevate the quality of education.?
The healthcare sector, accounting for 20% of the building construction, is experiencing significant advancements aimed at enhancing medical facilities & accessibility. This includes the development of new hospitals, clinics, & specialized healthcare centers, reflecting the state's dedication to improving healthcare services & addressing the health needs of its residents. Chhattisgarh, on the other hand, is focusing on upgrading its healthcare & educational facilities. One of the prominent projects includes the establishment of a new AIIMS campus in Bilaspur, set to provide advanced medical education & healthcare services.
Sector-Wise Distribution
BX-1 platform tracked a noteworthy 103 private sector building projects within the Central Zone during the preceding fiscal year. These projects encompassed a substantial footprint, totaling 16.60 Million-SqFt of construction area, with a cumulative value of INR 5,815 Crore. Public & Public-Private Partnership (PPP) ventures played a more significant role, undertaking a considerably 447 projects that spanned a vast construction area of 60.79 Million-SqFt & held a combined valuation of INR 17,956 Crore. This detailed breakdown highlights the vigorous engagement of both sectors in the region's ambitious construction undertakings.
Key Stakeholders in the Central Zone (Based on Construction Value)
Highlighting the key stakeholders driving building construction activities in the Central Zone during FY 2023-24, this section focuses on Key Project Owners, Architects, MEP Consultants, Structural Engineering Consultants, & General/Turnkey Contractors leading significant developments across various sectors.?
Major Project Owners?
As of FY 2023-24, BX-1 monitored over 152 project owners who are actively delivering more than 546 building projects in the Central Zone. The projects encompass a combined construction area of 76.74 Million-SqFt & an aggregated cost of INR 23,649 Crore. Key players include:
Top 20 Project Owners (Based on Construction Value)
Top Design Architects and Consultants (Based on Construction Value)
BX-1 discovered 114 design architect firms in the Central region delivering over 185 building projects with an aggregated cost of INR 10,985 Crore. These projects cover a combined construction area of 35.14 Million-SqFt. Notably, DDF Consultants Private Limited ranks first, undertaking projects with a value of INR 1,894 Crore within the Central Zone. Mehta & Associates & Muralage follow closely behind.
领英推荐
Top 3 Design Architects
Top 3 Structural Engineering Consultants
Out of 53 consultancy firms reported by BX-1 managing over 71 projects, CPK & Associates tops the list. These firms cover a total construction area of 9.51 Million-SqFt, costing INR 2,779 Crore collectively. Of this total value, CPK & Associates is developing 3 building projects worth nearly INR 529 Crore. Avam Consultants follows closely with Akshay Associates ranking third.
Top 3 MEP Consultants
Among 29 MEP Consultancy firms monitored by BX-1, delivering over 44 building projects with a combined construction area of 8.13 Million-SqFt & an aggregated cost of INR 2,469 Crore, Specon Engineering Consultant alone is delivering building projects worth INR 693 Crore in the Central Zone. SEED Engineering Consultants follows closely.?
Top 3 General Turnkey/ Civil Works Contractors
Among 132 General turnkey contractors & civil works companies monitored by BX-1, handling more than 240 building projects with a total construction area of 27.20 Million-SqFt & a combined cost of INR 7,002 Crore, Shreejikrupa Project Limited alone is delivering building projects valued at INR 458 Crore. Universal Contractors & Engineers Private Limited (UCEPL) and JP Structures Private Limited follow in the second and third rank, respectively.
BX-1 recorded 406 awarded contracts in the region during FY 2023-24, encompassing 419 projects with a combined tender value of INR 9,497.45 Crore.
In essence, zonal analytics assume a crucial role in unraveling regional dynamics, providing indispensable insights for stakeholders to navigate this intricate landscape. By harnessing data from Biltrax Construction Data, industry participants secure access to comprehensive, up-to-the-minute information on construction projects nationwide. With Biltrax's robust analytics & meticulous reporting, stakeholders can meticulously strategize & implement their projects, ensuring alignment with regional imperatives and prospects. This proactive approach optimizes efficiency & fosters sustainable growth within India's dynamic construction sector.
With this final article, we conclude our 'Zonal Analytics' series. Thank you for following along with our in-depth analysis of each zone's building trends and developments. Stay tuned for our upcoming series, where we will explore the construction trends in India's industrial & infrastructure sector.
Contact us today to learn more about how we can help you succeed in the construction industry.
Previous Articles
Read the complete article at Biltrax Media
https://media.biltrax.com/navigating-building-construction-trends-in-indias-central-zone-fy-2023-24/