CP Kukreja Architects, a Delhi-based architect firm, plans to grow by 20-25 per cent in the next 2-3 years, majorly driven by tenders of government projects, said Dikshu C Kukreja, founder of the company.
Kukreja claims that the company registered 50% year-on-year growth in 2017 thanks to it winning the tender of Pragati Maidan redevelopment and Dwarka Convention Centre.
“In 2010, about 70 per cent of our revenue used to come from private contracts while 30 per cent came from government tenders, by 2017 the scenario has completely reversed,” said Kukreja.
He agreed that the slump in the real estate sector did have a negative impact on overall business of the firm. “We were associated with many prominent developers especially in the National Capital Region (NCR), which defaulted in their payments to us. We are yet to receive the payments from them are awaiting their disputes to be resolved.”
The company is also looking for international contracts to expand beyond India. Currently the international contracts form 5% of total revenue share which it aims to grow to 20-25% in the next 3-4 years.
“We plan to open new office in Kuala Lumpur, Malaysia and also are in talks to take up few government and private projects in Myanmar and Bhutan,” said Kukreja.