Jindal Realty Ltd (JRL) is a leading Real Estate developer with a rapidly expanding portfolio in Sonipat Haryana undertaking approx. 320-acre land area including Student Hostels, Independent Floors, Villas & Plots, Community Infrastructure, etc. With its innovative business model of delivering residential projects utilizing Precast Concrete members, it became one of the leading developers in North India. Due to the reduced cycle times of projects, the portfolio expanded rapidly and JRL took an aggressive target of doubling built-up area construction year on year (FY 22-23 to FY 23-24). With the unique execution model of using Precast members, JRL also targeted to reduce cycle times by approximately 25% in various projects.

To achieve these aggressive targets, JRL chose Realization Technologies as their implementation partner and adopted the 'Focus-&-Finish' methodology along with our software - Streamliner - to drive their project execution.

Challenges

> Precast Material Shortage: Precast production capacity is just about sufficient for the portfolio, but it was distributed across projects based on daily site requirement of erection. Day-to-day interruptions such as site clearance and engineering issues resulted in inadequate material supply wherever front is available. The end result was a lot of desynchronization and slow execution speeds at individual project sites (approx. 50% of the required speed). At the same time, it was not possible to quickly augment capacity due to the unavailability of alternate vendors and huge transportation costs for Precast members.

‍> Conflicting priorities: Engineering & Purchase teams were stretched between priorities of various projects. The cycle time of Engineering to Sample approval/ Technical evaluation of construction material under JRL scope was high, impacting execution speeds.

‍> Lack of reliable projection: With delay adding every week, any projection was unreliable for top management.

Highlights of the Implementation

> Portfolio plan: With initial analysis, Realization created a staggered portfolio plan aligned to their business targets (Cashflow maximization) for FY 22-23 considering Precast production capacity. All the resources rt to Precast production and erection were concentrated on only one project with the highest priority.

‍> Project level full-kitting: Other projects were being Full kitted during this period with Engineering and sample/ technical approval of construction/ finishing material. Common material to start Finishing activities in various projects being finalized during this period.

‍> Streamliner set-up & handholding: JRL had a basic planning & monitoring mechanism through Google spreadsheets before Realization's on-boarding. We were able to set up a portfolio plan (7 projects) within 3 weeks of our engagement with a detailed activity list for day-to-day tracking.

Within 1.5 months, JRL teams were trained to update progress and act on signals derived from software with periodic management reviews.

Benefits from the software ‍

Tangible Results:

‍> University Hostel Block Handover (8 story - 2.9 Lac sqft built-up area: Completed 12 days earlier than the management target in Jul-22.

‍> Recovery made in spite of the delay in designing the full kit by 15 days

> University hostel block handover (8 story - 2 Lac sqft built-up area): Completed as per the management target on May 23. Achieved 35% cycle time reduction against past year performance of University Hostel Block (4.5 months against 7 months)

> JRL completed 96% of construction-based milestones within this financial year (FY 22-23) with an initial aggressive plan.

Intangible Results:

‍> Transparent visibility: The software is continuously providing clear visibility for the senior management team with an overall portfolio. It facilitates short reviews and proactive decisions/ actions based on actionable insights provided by the system.

> Lean project team: JRL is able to deliver projects with a lean project team (no dedicated person for planning/ PMO role) while their project portfolio tripled in the last 1 year (20+ projects currently as compared to the initial 7 projects).

> Reduced firefighting: JRL successfully managed its project portfolio with minimal firefighting during the execution phase.

Conclusion

Through Realization's project management solution, JRL successfully overcame resource shortages and unreliable projections. After 1.5 years of implementation, JRL has been able to keep its project portfolio in control and is expected to achieve all major construction-based milestones within FY 23-24

Consulting support: Beyond the first 3 months, Realization is providing continued support through monthly Audits and Steering Committee Reviews with the top management. A portfolio plan aligned to the Annual Operating Plan has been set by JRL management at the start of each year with the help of Realization team. The project team then strives to control and deliver the portfolio with the help of Streamliner Software.

‍Software support: Realization is also providing continuous software support, training, and handholding to new joiners within project team. The average resolution time for any major/ minor issue is within 48 hours of reporting by the JRL team.