It’s a known fact that post the demonetization experiment the real estate market went for a toss and the inventory of major developers remained unsold.
In order to counter this Delhi based real estate developer EssDee Group launched a separate business unit in FY 2016-17 with an aim to provide construction based services to land owners.
As per the recent financial results of the developer this BU grossed over $2 million USD from the day of its inception in Aug 2016.
“In order to provide liquidity to our ongoing development projects we pivoted into the untapped service sector. Our aim was to bring transparency and accountability in the unorganized contractor services segment.” – says Dhruv Sachdev, head of this Business Unit.
EssDee Group with its contract services had earlier launched the Build Up portal to provide online real time project updates to their clients. The group also offers 24×7 project monitoring via CCTV cameras.
The Build up portal is a CRM module sharing each activity associated with the project on a web page and a mobile application. As a land owner, you can check this data and verify this data from the other sources. In the past builders were following this dilly-dallying approach. Most of the customers were in dark about the progress of their project. They were investing their hard earned money in the project but unable to figure out the construction material quality of the buildings. Now the CRM module developed by EssDee group has all the answers ready. All you need is to log on to the page and check the progress of the project.
Milestone based payment schedules are a part of EssDee Group’s standard operating procedures. What the company has done is that it has created the right formula to maintain the correct amount of cash flow at each milestone.
The milestone based payment plans additionally also gives the client the clarity as to by when the funds have to be ready.
“Each project is broken down into 20-30 payment instalments. This helps in the instalments being nominal and doesn’t pinch our client. More so it helps the project to maintain the correct amount of cash flow.” – Durgesh Paul, Managing Partner, EssDee Group.
The company claims that this formula has been derived after almost 20 years of experience in this field.
The path ahead
“One of the biggest opportunity we noticed in this sector was that it still remains unorganized. We have taken the first mover advantage and have streamlined most of our client’s issues. We aim to make the thekedaari business a thing of the past and provide clarity to our clients when it comes to payment schedules, quality and timelines.” – assures Dhruv Sachdev.
The company has an incredible record of completing 97% of its projects in time and other projects are running as per time schedule decided by the competent authority and by bringing in innovations w.r.t payment schedules and quality they have made it their core goal to penetrate into the services sector.
About EssDee: EssDee Group is a privately owned and operated Delhi based general contracting company. EssDee provides construction services to clients in the residential, hospitality, retail, government and corporate/office markets.