How has the year 2017 been for BLK with respect to major projects?
For B.L Kashyap, from an industry perspective, 2017 so far has been an eventful one with the carry-over effects of demonetization, changes in labour norms (such as KYC of workers and bank account holders and changes in payment modes). With the GST roll-out and RERA coming into effect, it has been a year of upheavals! The Industry is still feeling the effects of these policy changes and will probably be sluggish for another two to three quarters or so.
At the company level, we welcome these changes, and feel that they will be positive in the long run by bringing in a level playing field for large and mid-size construction operators like us as well as for small scale contractors, and eventually benefiting the consumers.
Currently, BLK is executing projects for the Embassy Group in the south, and IREO, BPTP, Emmar, Blackstone Oxygen, Hero Group and Burman in the NCR. One of our recent Marque projects was the Composite Commercial Space of 34.5 lakh sq.ft. in Bangalore, which we delivered to the client in just 15 months.
Commercial projects (offices and malls) are generating most of our revenue currently, followed by residential and government projects.
What opportunities do you see for BLK in infrastructure development such as Airports and Metro rails?
B.L Kashyap has built terminal 1D in Delhi for GMR along with other ancillary buildings for the airport/Aerocity. We are also looking at working with some of the private airport operators to get onboard their projects as a service provider.
B.L Kashyap is also in the process of bidding for Metro projects. Some of the ones we have already executed were part of the line for DMRC and for Jaipur Metro Stations. Following a model like DMRC’s, given their firm resolve for timely execution of projects, will achieve a high level of efficiency in delivering infrastructure projects at a fast pace. BLK will be actively bidding for such projects in the near future.
Infrastructure is seeing a revival due to Government support. The results are showing in the number of roads being laid every month, and the Government’s expenditure earmarked for infrastructure development.
What about your core strengths?
B.L Kashyap’s core strength is its people and the firm belief that together we can innovate and deliver projects in the fastest time with high focus on quality standards & EHS (Environment, Health & Safety). We have always encouraged our colleagues (we do not use the word employees) to try new technologies and processes that provide the most complete solutions for our clients. BLK is in growth mode with an average growth rate of 15-20% annually. We are well-equipped to execute high quality projects across various segments of the urban landscape as well as infrastructure. The intent is to create huge value for our shareholders and other stakeholders in the company.
What is your current equipment bank strength and your plans, if any, to acquire new equipment?
We encourage our colleagues to identify the best solutions and technologies for our clients to make their buildings in the fastest way possible and with the highest levels of quality, safety and attention to the environment. We use the latest equipment and technology available within the costs determined for the projects.
We believe that equipment should be procured on a project to project basis. It does not make sense to stockpile large quantities of equipment specific to a single project. Having said that, B.L Kashyap does have a huge inventory base of cranes, Batching plants, RMC mixers, formwork and shuttering materials etc. We also buy new equipment as and when required for any construction work.
How do you keep your workforce up-to-date with best construction practices and retain quality workforce?
We provide regular in-house training to all our colleagues and encourage them to attend seminars and workshops that bring in the latest practices and solutions. The mandate to innovate is fostered into each one of our engineers. Giving them the freedom to enhance or complement each other’s skill sets, and work closely with each other to build a strong work culture, does bring in job satisfaction, and ultimately helps in retaining quality workforce. At BLK, we take pride in having a low attrition rate.
What important milestones has BLK achieved since its inception?
Being part of a third-generation construction family, the roadmap for BLK Group was already laid out for Quality, Integrity and Innovation, and a workforce that would deliver the best to its clients. The name B. L. Kashyap is that of our Founder whose buildings stand testimony to the very stature and name of the company and which we have to live up to.
With a workforce of more than 1500 engineers and other professionals and our contract employees, BLK is able to deliver projects consistently across the country. It gives the highest importance to ethical standards which can be measured by the enduring quality of our projects. We have in place all required safety measures to warrant a safe and sustainable working environment keeping in mind the guidelines of the UN and WHO.
- Built Wild Flower Hall, an Oberoi Hotel project in Kufri, Himachal Pradesh in 1998
- Constructed Park Hyatt Goa Resort & Spa in Goa in 2002 – also the first Park Hyatt in India
- On 17th March 2006, the Company entered the Capital Market
- IFFCO Sadan Saket in Delhi, completed in 2006, was BLK’s 1st Turnkey Office Building Construction
- Select City Walk in Saket, Delhi, built by BLK in 2007 was awarded the Retail Mall of the Decade in 2016 by CNBC Awaz. It also received the Real Estate Award in 2016, Mall of the Year 2012, 2015 and 2016 – Star Retail Award
- BLK was among the top five construction companies in India for the year 2006, and was listed by Construction World in January 2007
- BLK was ranked 249 on the Bengaluru Times 500 list of India’s most valuable companies
- Achieved turnover of more than Rs. 1500 crore on 31st March 2008
- The Airport Terminal T1 D building in IGI Airport, Delhi, built by BLK in 2009
- Built the Viaduct project for DMRC - the first major Design-Build, Precast / Pre-stressed elevated rail track in 2011
- Achieved a turnover of more than Rs.1900 crores on 31st March 2012
- Embassy Tech Village of over 28.36 lakh sqft, built on Outer Ring Road, Bengaluru. It was handed over in just 15 months and is the largest Composite Steel Development in India.
- Hines World Trade Tower, Gurgaon, Haryana – Turnkey office Development was handed over in 18 months (inclusive of all finishing & services). It received the Best Office & Business Development Asia, MIPIM Asia Award in 2013
- Built a green factory for Hero MotoCorp Ltd. In Neemrana, Rajasthan in one year with 5.5 MW solar panels on roof, vegetable cultivation on roof as CSR, and received Platinum rating from the Indian Green Building Council
- A 3 million sqft of composite steel and RCC structure - part of a Design-Build package was completed in one calendar year – also the first of its kind in India.