SYNERGY continues to thrive in global Project Management and Engineering consultancy services space;Sankey Prasad’s leadership inspires
Sankey Prasad, a pioneer in Project Management endeavored to step into the journey of entrepreneurship and establish his own enterprise at a time when the concept of Project Management was entirely new to the construction scenario in India. People, then, were unaware about the critical role played by good management of a project to make it a success. Prasad’s vast experience that springs from his assuming key positions at leading project management and engineering firms across Middle East and South Africaspurred the visionary in him to envisage how good project management practices could morph the ever evolving business landscape in India.
Sankey Prasad found Synergy Property Development Services Private Limited in 2003.The firm spearheaded Project Management Consultancy services in India and later broadened its service portfolio with inclusion of Design Services and Design & Build solutions. Initially, Synergy started project management for Business Parks and later diversified into Hospitality, Multi-specialty Hospitals, High-end residential and Data centers.With Prasad’s unparalleled expertise, managerial skills and guidance, the company has been taking giant leaps towards success ever since it began its journey.
Synergy’s first project Embassy Golf LinksBusiness Park in Bangalore turned out to be a great accomplishment. Prasad’s team took hold of management of the entire project which spanned across managing design to sourcing of materials and quality. The team showcased its robust capabilities and zeal to innovate in its very first project by erecting a one-of-a-kind campus where every building is customizedto meet specific requirements.Synergy was able to clock a flabbergasting turnover of twenty crores soon after a year of its institution and successfully delivered5 million sq ft of construction within four years. Synergy’s well-heeled retail portfolio covers monumental entities namely Garuda Mall, and Meenakshi Mall in Bangalore; Select City Walk in Delhi;Express Avenue in Chennai and many more.
The year, 2008 proved to be a landmark in Synergy’s journey. The events that took place this year unfolded several avenues of success. Due to its outstanding track record, the company positioned itself as a contender to the global giants in the space; also, it was eyed by leading investors. The leading international Private Equity firm, Blackstone group showed its interest in Synergy and invested Rs 72 crorefor a 35% stake. This association sparked the company’s further growth and led to occupying many sectors namely Hospitality, Multi-specialty Hospitals and smart campuses and data centers in its portfolio. Soon, it got contracts for Medanta Medicity in Delhi and Columbia Asia in Bangalore and bagged many grand hospitality projects such as Pullman Hotel in Delhi, Hilton Residences in Bangalore, Novotel in Ahmedabad and many more. The company is also handling overseas projects to name a business park for Embassy and MK Land in Kuala Lumpur, an integrated township in Rwanda and a mall in Dar-es-salam.
Today, SYNERGY is home to nearly 1000 dedicated, skilled and expert professionals, who invest best of their efforts towards ‘maximizing returns’ for their clients to hand over best value to them. The team approaches work in coordination with client organizations in order to enhance clients’ benefits. After fourteen years of its establishment, SYNERGY stands as the leader in global project management consultancy space having delivered several big real estate projects pan India and overseas. Over the course of time, the firm extended its operations and offices across India, Middle East, Far East and Africa and has delivered more than 100 million sq ft of high quality built-up spaces to global clients across diverse business verticals till date.
The CEO Magazine interviews Sankey Prasad, Founder Chairman & Managing Director –SYNERGY
TCM: What motivated you to establish Synergy?
Mr. Prasad:For me, the calling came after I had done the rounds of several organizations in varying capacities across India and abroad. With stints in Government and Private sector, covering Construction Management, Consulting Services and Real Estate Developments, it was time for me to move on to a higher goal. And in 2002, I entered the realm of ‘Project Management’ in real estate as an entrepreneur and founded Synergy property Development Services; today a name to reckon in the industry and market leader in delivery of landmark assets in India and abroad.
TCM: What was your mission at the outset?
Mr. Prasad:While setting up Synergy, Project Management was less heard in this part of the world. People were unaware of this concept which streamlined construction activity, from conceptual stage to delivery; which through its efficient systems brought down costs and time-over-runs; a concept which has become a national necessity. It took a lot of courage to embark on this journey. My vision of positioning Synergy as a differentiator by bringing in value at every stage of the project deliverybe it design management, procurement and construction management through our unique technical audit process and value engineering has paid off to make Synergy the leading Project Management and Engineering Services Company in India.
TCM: What is unique about your business?
Mr. Prasad:With in-house design capability, we can get involved in the projects from a very early stage to add value to the project and help in Design Reviews. This complements our PMC services. With our vision to “Deliver inspiring spaces” driven with the mission of “Innovate to excel”, we stand in a very strong place for future growth momentum. The Innovate 2 Excel (i2e) Cell, continuously works to find new ways to deal with problems such as, how to optimize the cost, how to optimize the schedule of a construction, mechanization in the construction industry, making the company well prepared for latest innovation and technology in the market.
TCM: If you had one piece of advice to someone just starting out, what would it be?
Mr. Prasad:There is no set path to success and there are many ways to get there. But when you ride success, it is very important not to get complacent. I also believe that with success comes the responsibility and challenge of staying successful. You need to be vigilant and embrace constant change and innovation to help you take the growth story as a positive graph.