NEXT GEN THINKING: STRATEGIES FOR THE NEXT NORMAL

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At Realty+ 40 under 40 Conclave the speakers from building products and materials industry shared how they are addressing the needs of new way of living and working. In the current pandemic induced disruption, manufacturers at one hand have to stabilize their business and on the other prepare for the “Next Normal” of design and construction of built spaces. Jimmy Mistry, Chairman and Managing Director, Della Group started the discussion emphasizing that given the first wave of Covid had completely halted business activities, the second wave had some part of economic activities going and as per experts third wave is imminent, therefore, businesses clearly need to keep changing strategy in sync with times to survive. Saurabh Bansal, Joint Managing Director, Dorset Group expressed, "We are completely made in India and for India and are not dependent on any other country for imports.. With Our raw material component inventory we were able to continue business.” Sourabh Bansal, Co-founder and Managing Director, Magicrete said, "During Covid we followed two strategies. Firstly, with “Magicrete connect app” we on boarded and partnered with more distributors to scale up the 20 plus products already in the market. Next we launched “MagicLite AAC wall panels” which weighs 1/5 of concrete panels and has attracted some of the largest developers from Indian real estate for faster project construction.” Srinivas Shanbhugue, Vice President- Retail Business, Schneider Electric India told, “We were quick to work on the technology which were based on IoT and can help create a lot of convenience at home without disturbing existing aesthetic and requiring new wiring.” Sudeshna Mukhopadhyay, Vice President, Havells India Ltd. stated, "Through our human centric smart lighting products we aim to save energy and accelerate lighting in our home and offices as a factor of wellbeing. For instance, as the day progresses, smart lighting adjusts light according to the natural light intensity and colour, temperature. We provide basket of solutions ranging from wired solutions to wireless but all centred on light and health." Binay Agarwal, Business Leader, TempRite – South Asia, Lubrizol Corporation mentioned, "Lubrizol sees environmental impact from two dimensions one the carbon footprint of manufacturing products and second the handprint i.e. the positive environmental impact of a product or service throughout its life cycle. Our vision with water changed drastically as being chemical and polymer Company we can play a huge role in water value chain and ensuring clean water supply." Jimmy Mistry shared, “We have launched "Della Leaders Club" globally which is the world's first business platform for entrepreneurs and young leaders. We are also working on "Della by JM,” a 50,000 square feet large format interior store that will have everything from Pin to Piano. We are also creating "Della Creative Lifestyle Weekend" at the Della Resorts, where entire creative community of the country can gather to celebrate art and culture." Manufacturers are focusing on domestic production, reducing or eliminating dependence on global sources and are employing lean manufacturing strategies The Long Term Changes Binay Agarwal sharing the long term plans stated, “We plant to continue to provide convenient and consumer centric products. Our CVC piping meant only for industrial customers will now also be available for building application. It is evident, going forward, people will explore more products that will solve water problem in India." Saurabh Bansal said, "We identified there were absence of safe touch products, touch free products, digital products and therefore are working on these lines. Already, Dorset products with anti- microbial coating are available in the market now. We are launching new technology called “NOS (New Opening System),” and have introduced touch free handles and digital locks which can be accessed via IOT technology." Sourabh Bansal said, “While, MagicLite wall panels can make construction process 16 times faster, we have also launched Magic Pod that are constructed in a factory in a quality control environment and are ready homes and offices." Srinivas shared, “Our wiser smart home solution was designed in four months and we have been able to reach 10,000 homes in just one year as it served the purpose of health and convenience in present times. We also launched sky bells which opens door from your phone making the door opening process contactless." Sudeshna Mukhopadhyay stated, “With rapid infrastructure development in India, government has now moved to using LED lights in public spaces that are IoT connected and energy efficient. This is a good sign of progress and way forward for the country. Companies that have come out of the pandemic crisis faster typically focused on productivity, cost reduction and made bold moves to invest in innovation and digital technologies, differentiating their portfolios and offerings.