S Narsimha Reddy- Chairman & Managing Director of Swapna Projects Hyderabad takes over as President of the Builders Association of India
Hyderabad: S. Narsimha Reddy from Hyderabad has taken over as the President of Builders’ Association of India (BAI) for 2023-24. He took over as the President by Shri R. Radhakrishnan, BAI’s former President and Trustee. He has been unanimously elected as BAI President for 2023-24.
The newly appointed president of Builders Association of India, Shri S.N.Reddy, has announced to take up a few burning issues affecting the Construction Industry to the Union Government seeking relief to its members. The issues include appointment of Cement Regulatory Authority, Unified Standard Contract Document for the hassle-free execution of contracts among others.
Shri S. Narsimha Reddy is the Chairman & Managing Director of M/s.Swapna Projects Pvt. Ltd., which operates in India and deals in major and minor irrigation works with a working portfolio of about $ 95 million. He excelled in the sector in Andhra Pradesh and Telangana states with more than 35 years of rich experience at management and strategic planning, implementation of the project life cycle. He is also a Board member of International Federation of Asian and Western Pacific Contractors’ Associations (IFAWPCA).
After assuming the charge Shri Reddy said that his priority would be to address the burning issues of the construction industry. In his vision statement, S. N. Reddy said that the Union Government would be requested to bring out a ‘Unified Standard Contract Document’ to be adopted by all Works Authorities to facilitate smoother and hassle-free execution of contracts. As the age-old Contract Act enacted in 1882 creates a lot of litigation at various Courts of Law. “These reforms will help industry in witnessing the transparency and natural growth it deserves,” he said.
He also requested the Union Government to appoint a Cement Regulatory Authority, immediately, to rein in the unabated increases of cement price. Such abnormal cement prices cause huge losses to real estate developers as also to the government and private contractors. The MRTP Commission, Competition Commission of India (CCI) and National Company Law Appellate Tribunal (NCLAT) have repeatedly found clear cut evidence against cement manufacturers indulging in cartel type of arrangements to create an artificial shortage of cement to jack-up prices with the purpose of ‘profiteering’. The new President feels that the appointment of a regulator will help in curbing such malpractices.
Builders’ Association of India (BAI) is an apex all India body of Engineering Construction Contractors and Real Estate Companies founded in 1941, with more than 20,000 business entities as members through its 200 plus Centres (Branches) throughout the country. Regional Associations Affiliated to BAI form indirect membership of more than 1,00,000.
The fundamental aim of the Association is to bring about all round improvements in the construction sector, while striving towards resolution of operational as well as policy level problems faced by the construction industry. This involves making efforts to obtain from policy makers and authorities the level of attention that the construction industry deserves in view of its tremendous contribution and importance to the economy.