Real estate firm Puravankara ropes in IBM for transformation initiatives

Bengaluru-based real estate firm Puravankara has roped in IBM to reinvent and digitise its business operations.   

As part of the alliance, IBM Global Business Services, the consulting arm of IBM, will integrate the SAP Cloud into Puravankara’s cloud environment for better efficiencies.   

Puravankara further said that it aims to access real-time fluctuations in the market and receive immediate and actionable insights. It will deploy RISE, which is an integrated cloud enterprise resource planning (ERP) solution, under SAPs business transformation portfolio.   

“By collaborating with IBM to deploy SAP, we will modernise our business capabilities and solve on-ground bottlenecks with ease while setting precedence in this highly competitive industry,” Ashish Puravankara, managing director, Puravankara, said.   

IBM will also deploy SAP’s automation solution Ariba Sourcing to streamline sourcing of materials. Also, Puravankara would redefine the core objective of its digital strategy and streamline existing processes to elevate customer experiences.  

Additionally, IBM will bring in assets, tools and methodology from the real estate and infrastructure industry to help Puravankara with its digital transformation after being configured into the SAP system.   

Puravankara, founded in 1975, has completed 74 projects assimilating to 42 million square feet. It has about 22 million square feet of projects in the pipeline.   

A recent study by Market research firm Mordor Intelligence said that the APAC region is the fastest growing geography for IT in real estate.  

Globally, the real estate IT market is valued at $6.75 billion in 2020 and is expected to hit $13.46 billion by 2026. This amounts to a compound annual growth rate of 12.2%.   

The real-estate sector currently contributes about 7% to the country’s gross domestic product (GDP).  

The India Brand Equity Foundation pegs the real-estate market to hit $1 trillion in revenues by 2030, contributing about 13% to the GDP by 2025.