Mumbai (Maharashtra) [India], Oct. 10 (ANI-BusinessWire India): Foundation of Infrastructure Research Studies Training (FIRST) hosted the 15th Annual Construction World Awards at ITC Grand Central, Parel, in Mumbai, where the names of India's Fastest Growing Construction Companies were unveiled at the grand award ceremony which was attended by well-known personalities from the construction world and the industry stalwarts.
The award winners were recognized and felicitated basis the FIRST Methodology. India's Fastest growing Construction Companies, country's Top Challengers and the construction Man of the Year took centre stage and were applauded by the construction fraternity.
FIRST (Foundation of Infrastructure Research Studies Training), a non-profit body engaged in research and information, developed a statistical model to analyse and present India's Fastest Growing Construction Companies for the last 15 years. Initiated and conceptualised by Pratap Padode, Founder and President, FIRST, the model uses financial data of the last six years, and companies are categorised and ranked as under Large, Medium and Small.
"It gives me immense pleasure to host the 15th Annual Construction World Awards and present the category winners; L&T as the Largest Construction Company and Dilip Buildcon, India's Fastest Growing Construction Company. Our findings reveal that new entrants like Montecarlo, GHV, KNK among others are growing at an average rate of over 30 percemt. Some of our Top Challengers are Gayatri Projects, Afcons, MEP Infra and Kalyani Steels. It is a matter of pride and honour to announce Elias George, MD, Kochi Metrorail Project as CW Man of the Year, Public Sector and - Sajjan Jindal, CMD, JSW as the CW Man of the Year for Private Sector. So, let's raise the toast to those who construct and build, what is now being referred to as the new incredible India," said Padode.
To further deliberate and discuss up on this collated data, a seven-member jury panel, comprising eminent people from the construction industry, came together on September 6 this year to discuss, deliberate upon and select the winners of 'India's Largest and Fastest Growing Construction Companies', along with the 'Man of the Year'. Having applied parameters of good governance, macro assessment, and such other qualitative factors, the jury panel finalised a set of winners from among shortlisted companies. These findings were presented and companies awarded at the 15th Construction World Annual Awards on October 6 in Mumbai.
This year, the jury panel comprised Sandeep Upadhyay, Managing Director and CEO, Centrum Infrastructure Advisory; Chintan D Lakhani, Associate Director, Infrastructure and Project Finance, India Ratings and Research; K Ravichandran, Senior Vice President and Group Head, Corporate Sector Ratings, ICRA; Vijay Agrawal, Executive Director, Equirus Capital; Deepak Garg, CEO, SANY Heavy Industry India; Binaifer Jehani, Director, CRISIL Research; and Rahul Akkara, Vice President-Strategy and Brand, JSW Cement.
Instituted by the jury, the award 'Man of the Year' took into account construction heroes who have made remarkable achievements this year and, through their efforts, have propelled the company, organisation and industry forward. The past winners are testimony to the same - these include Dr. E Sreedharan for Delhi Metro, Dr. GVK Reddy of GVK, SN Subrahmanyan of Land T, Vinayak Deshpande of Tata Projects and many more.
FIRST created another model for the 'Top Challengers'. This model takes into consideration promising companies, having studied their ability to grow over the previous year despite challenging circumstances. Companies under this category including infrastructure developers, building materials and construction equipment were also awarded.