When Prahaladbhai Shivrambhai Patel founded PSP Projects in 2006, he was already well-known in the construction industry. First as an engineer, and later a partner in his previous company, he had built a network of clients and suppliers.
PSP had a humble launch with just a few civil projects in its pipeline. Yet thanks to the goodwill Patel already had in the industry, the company found early success. In the years since its foundation, Patel has led the company to carry out construction projects for big corporations and the Indian government.
This year, PSP completed its biggest project yet: the Surat Diamond Bourse in Gujarat. Not only is this the world’s largest diamond trading center, with a floor space of 660,000 square meters – it is also the world’s largest office complex, surpassing even The Pentagon in Washington, DC.
“I have always been passionate about my work, the technology we use and our quality.”
The knock-on effect of having such a prestigious project in its portfolio is enormous.
“After completing this project, we are now seeing better opportunities and that is the growth we are seeking,” Patel tells The CEO Magazine.
Patel attributes this progress to a strong passion for building. “I am focused and passionate about my work,” he explains.
The platform for success, he continues, comes from top management. “Success comes from your involvement,” he says. “It’s about creating a culture within the company that makes the workflow automatic.”
Prioritizing Processes
Patel admits that the key challenge faced by most companies in the construction sector is the scarcity of high-quality resources and labor. This was why he audited PSP’s working processes with Deloitte, which found a solution to focus the company’s work more on processes than on people.
“We implemented SAP’s enterprise resource planning (ERP) software in our organization in 2012–13,” Patel explains. “In this 10-year journey, every process of purchasing, finance and HR in all our projects has been governed by the ERP.”
“Success is about creating a culture within the company that makes the workflow automatic.”
Standard operating procedures play a key role in the working style of PSP.
“Our focus on standard operating procedures drives our success,” Patel affirms.
Now joined by the next generation in the business, that focus is only strengthening.
“My son and my daughter are in the business now and they are clear about what we must focus on to drive this journey of success further,” he says.
The Core Spirit
PSP is fueled by its core values, or SPIRIT, Patel explains. “S stands for speed, P for passion, I for integrity, R for respect, I for innovation and collaboration and T for team,” he explains.
“Speed is our unique selling proposition, as we are committed to delivering our projects on time. Passion – I have always been passionate about my work, the technology we use and our quality.”
The company’s integrity, he explains, is demonstrated by the loyalty of its clients, while respect is a non-negotiable for any interaction PSP is involved in.
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“Where innovation is concerned, PSP has been the first in Gujarat to have a ready-mix concrete plant, to buy a tower crane and to install SAP,” he continues.
“Finally, team building plays a key role in the entire organization, whether at a site level, office level or department level.”
Patel also strongly believes that the construction industry must set guidelines to start reducing its carbon footprint.
“Presently, the industry is notorious for its carbon footprint. We have to keep looking for ways to reduce the usage of power and water at the construction site,” he stresses.
“The responsibility must start from the top and then permeate through our company’s culture.”
PSP’s People
Patel does not underestimate the importance of PSP’s employees and suppliers.
“My laborers and vendors are the pillars of my business and my growth,” he says. “Understanding their problems allows us to create a better working environment for them. We make sure our laborers feel safe by creating high-quality and hygienic facilities at the worksites.”
“My laborers and vendors are the pillars of my business and my growth.”
Patel also appreciates the significant role of the organization’s major partners.
“Our suppliers are key to maintaining our pace of work,” he says. One of these partners is L&T Electrical & Automation, which provides PSP with reliable power solutions.
“They play a key role because their timely delivery at the project site is extremely important.”
