Rakesh Reddy, Director, Aparna Constructions & Estates, speaks about business in the times of COVID19 and how it will impact the real estate sector
How has COVID19 affected your business?
Property sales were not affected until the social distancing advisories by the government came into force, which reduced site visits. Due to the subsequent lockdown, home buyers are deferring their decisions until there is more clarity regarding the government response and the overall market outlook. The pandemic will cause a delay in construction activities. This will result in a temporary slowdown of the market. The long-term impact on the economy on will depend heavily on the intensity, speed and duration of the pandemic. Once the situation is under control, the market will regain its previous momentum.
How are your teams working and communicating during such times?
Aparna Constructions has a robust IT infrastructure. We have been able to create virtual workspaces for our teams. For most activities, work is continuing without significant interruption. Our teams communicate via online chat, email, tele-conferencing and video-conferencing.
Systems and processes have seen new changes. Do you feel the new way of working will change the way we worked in offices?
Digital transformation will be forced upon real estate developers as provisions for day-to-day operations including training and recruitment taking place remotely will have to be considered. Companies will have to provide guidance on setting up virtual workspaces and managing time and wellbeing. Policies will have to be put in place to manage the challenges of work-life integration. With the benefits of tapping into a geographically diverse talent pool, HR managers will increasingly explore how to make remote working part of their company’s culture. Companies will have to introduce technology-based systems such as e-learning into their training and development programmes. This means incorporating personalised micro-learning, gamification, virtual reality, and augmented reality for corporate learning.
How are you helping your local community during such times?
Containing the spread of the Coronavirus will require active participation and mobilization of resources from all quarters. At Aparna Constructions, we have always aligned our efforts towards the larger well-being of the society. We have donated INR 5 crores to the relief efforts by the Government. This includes INR 2 Crore to Prime Minister’s Care Fund, INR 2 Crores to the Telangana Chief Minister’s Relief Fund and INR 1 Crore to the Andhra Pradesh Chief Minister’s Relief Fund.
Aparna is also taking all necessary precautions to prevent the spread of the Coronavirus among our residents and workforce, as well as ease the impact of the lockdown. We are providing all necessary provisions at our projects including vegetables, hand-washing soaps/liquid, sufficient water and uninterrupted power.
We are continuously educating residents, housekeeping and staff about safety measures including frequent hand washing, social distancing and practicing good hygiene. We provide a public announcement system that broadcasts Coronavirus precautions and reminders. Along with enforcing safety measures and cleanliness in our labour colonies, we continuously monitor the health of all workers and arrange regular visits by a doctor. If any of our workers are found sick, including regular fever, we send them to the hospital by our ambulance.
This is a once in a lifetime event for all of us, do share your reason for optimism?
This is an unprecedented challenge on a global scale. However, we believe in the determination of humanity to overcome this crisis, as we have overcome many crises in the past. We must commit to fighting against the COVID-19 pandemic with resolve and restraint by strictly following all government advisories.
