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Synergy Property Development Services Private Limited
Sankey Prasad - Chairman & MD
The real estate and construction industry in India has been instrumental in enabling growth and development of nearly every business vertical. The industry as a whole holds an indispensable significance in the development of India's infrastructure base and is responsible for massive inflow of growth opportunities.
A recent report from Project Management Institute (PMI) says that it has become quintessential for organizations to keep a focused approach on effective and efficient project management in this area. As per the latest findings, organizations usually spend more than Rs. Ten lakhs extra on investment of one crore in every project due to poor performance and management.
With fluctuating trends in business environments and an unpredictable economic scenario, governments need to rethink their growth plans and must resort to project management services, which can equip those plans with strategic competency by reducing risks and costs while enhancing their success rates.
SYNERGY, a pioneering Project Management & Design Services company was established at a time when the concept of project management was new to the real state landscape in India and its potential in instituting best practices across processes was subjected to skepticism.
Sankey Prasad, a thought leader and a veteran from Project management space overseas envisioned strong capabilities of the sector in shaping the growth of developing economies like India.
His profound expertise in the domain coupled with an inevitability of the purpose sparked entrepreneurial spirit in him and paved way for the establishment of Synergy Property Development Services Private Limited in 2003. The company's foundation was laid with the profound vision of building a brand that would 'deliver inspiring spaces'.
Today, SYNERGY enjoys a leadership position as an international Project Management and Design Services company operating in more than twenty five locations across India, Middle East, Africa and South Asia.
The company's rich portfolio covers robust and peerless capabilities in multiple disciplines including Project Management Consultancy Services across all Asset Classes namely Architectural, MEP and Interior Design Services; Design & Build (Turnkey) Solutions and Technical Advisory/Due Diligence Services.
Synergy, today, has grown into a colossal team of nearly one thousand highly qualified, dynamic and expert project management and construction professionals deployed at its offices across India, Middle East, Far East and Africa.
As a part of a thriving work culture that breathes quality, innovation and process, Synergy's employees now function as a team that abides by the principle of 'Single Point of Responsibility' and 'First to last Approach' to ensure delivery of best value to their clients.
At present, team Synergy is dispensing its services for the development of 170 million sq. ft. of area across various asset classes such as Hotels, Hospitals, Commercial Office Spaces, Retail Malls, Residential and Industrial Buildings.
Their strict adherence to 'Client first' philosophy translates into maximizing returns for the client by working together with them; this results in impacting benefits by improving time-to-deliver projects, quality and optimizing costs.
A large number of businesses have entrusted Synergy with their challenging needs. Many giants including Embassy Group, DLF, Salarputia Sattva, Medanta Medicity, Select City Walk, Brigade Group, Tata Consultancy Services, iGate, Huawei, Ozone Group secure spots in Synergy's plush clientele.
Project Management–This segment encompasses Design Management, Cost Planning, Schedule Management, Procurement Management, Construction Management, Closeout and Handing Over.
The forte embodies promising and successful delivery of technically challenging large scale projects within the key parameters of Schedule, Cost and Quality while remaining as the sole point contact on behalf of the Client from the stage of conceptualization till handover.
Design Services – The state of the art Design Studio covers master planning, architecture and interior design services. Specializing in innovative designs, Synergy takes the credit for delivering several grand-scale projects that are considered as huge accomplishments. The teams' vast and profound expertise spans across diversified sectors like Residential, Commercial, Industrial, Health care, Hospitality and Data centers.
Design & Build–This section of the portfolio holds combination of design and construction (site selection, design, construction, installation, testing, commissioning and Project hand over)for 'ready to occupy' spaces. The Design & Build (Turnkey) solutions are offered for both Buildings and Fitouts.
Advisory Services – Services include technical and risk evaluation of the project; periodic project monitoring; and quality assessment right down from project management for shell and core to tenant coordination and fit-out management.
Customized services in line with Indian context
Single Point of Contact on behalf of the Client
First to Last Approach
Hands-on approach for managing project
Comprehensive and practical set of project management / construction management procedures
Value Engineering
Real time project data with Synergy MIS
Having served key management positions in the real estate sector across India and overseas, Sankey Prasad acquired a rich and eclectic experience; which equipped with his strong business acumen has been instrumental in delivering a number of landmark real-estate projects across India and abroad.
His insightful vision coupled with his unparalleled expertise in his field have resulted in achieving phenomenal growth whilst evolving the company into an international Project Management and Engineering Consultancy Services company with an enviable reputation for quality and delivery.
The company started its journey in Bangalore and initially worked for commercial office spaces such as The Embassy Golf Links Business Park and The Manyata Business Park, which are home togiants like IBM, Microsoft, Yahoo, McAfee, Mercedes Benz, Fidelity, Goldman Sachs, Lucent, and Cognizant etc. Following that, it handled several projects involving large IT parks and business parks across India for leading developers and direct client orders.
SYNERGY's administration kept a proactive approach towards attaining progress since its operations began and this fueled a desire for expansion across other verticals.
The company entered the retail segment then and successfully delivered several projects that included reputed malls in India like Select City Walk in Delhi being one of the first.
The next move was towards hospitals, two American hospitals – Columbia Asia a 100 & 200 bed multi-specialty hospitals, Medanta the Medicity 2000 bed multi-specialty have been delivered successfully.
In its fourteen years of journey, the company has always followed a clearly defined roadmap as an effort towards assured success. In 2008, it took a giant leap when it offered a 35% stake of the company to Blackstone, the PE (Private Equity) giant who just entered Indian market.
(Blackstone Real-estate Partners is an affiliate of The Blackstone Group, world's largest PE with Assets under Management (AUM) of over $ 300 billion). In a chat with The CEO Magazine, Mr. Sankey Prasad-Chairman and Managing Director, Synergy Property Development Services Private Limited shares, "This association empowered the company to undertake turnkey projects, which helped in bringing in a huge turnover for the company.
This partnership also evolved the organization to take on due diligence and advisory services catering for customers interested in taking over existing properties. During this time, Synergy developed and managed 62 million sqft of space across various asset classes."
In November 2015, Synergy's management decided to make a buy-back arrangement on its shares with Blackstone and opportunely acquired back 50% of the share held by the PE firm.
Throwing light on Synergy's growth scenario at present, Mr. Sankey Prasad apprises us, "The ongoing projects at Synergy include Multi-specialty hospitals for Medanta and campuses for OPPO, iGATE, TCS to name a few; also, hospitality projects for Hilton, Hyatt and Four Seasons besides premier residential projects are underway too.
Synergy has been constantly moving with the trends of the industry and has translated itself into a reliable single point contact for real-estate development projects."
For its outstanding capabilities and services, SYNERGY has been able to build a reputation for itself as one of the best project management companies in India today.
The company has been acknowledged many a time by several renowned organizations. GIREM recognized SYNERGY as the 'Project Management Firm of the Year' for two consecutive years in 2011 & 2012. Synergy was also hailed as 'Engineering Firm of the Year 2010' by GIREM.
The company was conferred with 'Best Large and Complex Project Management Company in India' at Construction & Engineering Awards 2015, UK. ACQ5 Global Awards 2015, UK honored the company as well as Mr. Sankey Prasad.
While Synergy was identified as 'Full Service Project Management Firm of the Year', Mr. Sankey Prasad was revered with the honorary title of 'International Game changer of the year 2015'.
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