Asutosh Katyal, Founder & CEO, Captech Technologies Private Limited

Asutosh Katyal, Founder, And CEO, Captech Technologies Private Limited, is a Computer Scientist From The University Of Illinois At Urbana Champaign. Prior To Launching Captech Asutosh Worked At Capacit’e Infraprojects Limited On Many Marquee Projects. His Experience With The Company Helped Him Understand The Operational Difficulties On The Ground In The Construction Business And It Helped Him Lay The Foundation Of Captech.

 

Technology has transformed the world and it has changed the way the construction industry operates today. Advancement of technology has enabled the industry to further personalize the customer experience at every touchpoint. At Captech Technologies, we are investing in finding new ways in which technology can transform the existing construction practices in India and also create new job opportunities.

The pandemic has caused massive disruption in the construction industry along with other sectors. However, the industry is slowly but steadily recovering from the current situation faced due to COVID-19 and countrywide lockdown. The time is right to invest in tech led-solutions especially in growing major economies like India where internet data and access to smartphones to the country’s common population is increasing so rapidly!

Since the year 2020, transformation has become easier for those with digital revelation while the going became tough for those who lacked exposure to digitisation. Fortunately, the construction industry has the capacity to learn, unlearn and relearn and hence the sector in India is at its zenith. The construction sector has been one of the most evolving sectors over the past couple of years and has become one of the primary contributors to India’s GDP. 

Traditionally, the construction and the real estate across the industry has been following the Brick-and-Mortar system while procuring resources. However, to reduce the project failure due to lack of contractors, sub-contractors, skilled and unskilled labourers, etc. construction companies are now startlingly becoming more technologically enhanced and opting for technological solutions. This has not only helped them to reduce procurement time but additional have received variety of options to choose from competitive process and total transparency, KYC led labourers, and timely completion. Adoption of technology in the sector was swift and the government is simultaneously supporting technology-led innovation and initiatives to drive same among other industries.

Technologies like Augmented and virtual reality, are gaining huge momentum today. AI in development and application-based stages are acquiring gigantic energy today and can be used in risk mitigation, reaching out to the real estate developers and laborers, project planning, and support in off-site construction. Additionally, the transformation of 3D demonstrating and BIM in development is a vital driver of digitalization, moving it away from paper-based drawings to the virtual space. The Building Information Modeling (BIM) is now a high-level 3D displaying method utilized in development across India and all around the world.

Technology also ensures an increased gap in bridging communication gap between contractors and labourers. The major focus has been pivoted to better coordination between both the parties and timely completion of the projects. This AI based technology today has high-end control system with next-gen management solution helping contractors from not spending much time for real-time information. The technological aspects have also helped contractors and labourers increase efficiency and make profits without having to waste time.

With regards to CapTech Technologies, today we are focusing and investing on robust technology relevant to the sector and app based digital platforms. We are determined to building a firmer, resilient, and very strong supply chain systems – so that all the stakeholders can benefit from the massive increase in operational efficiency. This will benefit all the stakeholders, from developers to general contractors to subcontractors. This will additionally help individual projects have a better profit margin and a lot more gain in productivity, in the same time enjoying faster completion of the projects.    

According to the reports, the real estate sector in India is expected to reach market value of $1 trillion by 2030 and contribute 13% to the nations GDP. If the construction industry invests the next couple of years into technology and a stronger, buoyant modern supply chain ecosystem then the growth projections in the long-term could be phenomenal. 

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