I recently had the honour of being part of the jury panel for the Construction Week Awards this year. It’s truly humbling to be given the opportunity to recognise the best talent from within my sector. The annual event also gives me a chance to interact with an eclectic mix of developers, investors, architects, and industry professionals.
Amongst the many things which enriched me, the mainstay was an excellently moderated panel discussion by Anuj Puri. There was this sense of optimism that dominated the air. From new Government regulations to adoption of new approaches to design – each development was welcomed by the panel members with hope and positivity. Below are the key takeaways from this experience that have renewed my confidence in our sector.
- The Longevity of Institution: While new entities emerging in this space are a great sign of growth, it’s heartening to see establishments like the Dosti Group stand the test of time. Their ability to shine through their 50-year existence can be attributed to their work ethic combined with the readiness to evolve.
- The Relevance of Commitment: The dialogue brought to light a sentiment that I resonate with a lot – starting what you finish. While modern practices and opening ourselves to new ideas are important, the old-fashioned commitment to completing every project is the only way to success.
- Work Ethic over Compulsion: The question of how large organisations were approaching RERA (Real Estate Regulatory Authority Act) was inevitable at this summit. The answer? Most of them were already compliant with the rules. Goes to show that making ethical work practices a way of life is more effective than treating them as a compulsion.
- Faith and Trust: I found it deeply reassuring to see the progressive outlook of the Government of Maharashtra. It came from a place of faith and trust in the industry, starting with them being open-minded about the integrated procurement system design. Their openness to collaborate further served to strengthen our faith in the Government’s implementation policy.
- Empowerment, the Secret Ingredient: When asked about the secret to success, Om Ahuja, COO at the K Raheja Group, responded that it is their policy of empowering the team by letting them lead. The group’s core belief that “people are a company’s greatest asset” is thus backed by their working principles. While the family frames the strategy for the company, the execution is left entirely to the leadership.
I’ve come away more inspired and hopeful from this exchange. The environment feels fertile for innovation, thanks to longstanding traditions coupled with a willingness to welcome change.