Moneycontrol

Budget 2023Budget 2023

PARTNERS

  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
Register Now : Nifty Banker 3.0 | India's First Retail Index Traders Online Conference.
Budget 2023
Budget 2023

COVID-19 impact: 66% construction firms in India focusing on digital transformation

Construction firms are facing challenges caused by the pandemic, including low productivity, affected margins, and lowered of investment in R&D forcing them to adopt to technology faster

Around 66 percent construction companies in India are prioritising digital transformation to ensure that real estate projects are completed on time and within budget, a survey by Autodesk revealed.

While the majority of the country’s construction companies are at the early stages of digitalisation, the industry anticipates acceleration in digital transformation.

To respond to local demand, India construction companies are quickly learning best practices from their peers in more developed markets, which includes knowledge of technologies such as building information modelling (BIM) and its benefits, the survey said.

Almost one-fifth of India’s construction companies cited completing projects on time and within the assigned budget as a top industry concern, followed by workforce safety and effectively managing risk. As a result, project management, enterprise resource planning (ERP) and client relationship management (CRM) have been identified as the top planned software investments.