We enter into contracts primarily through a competitive bidding process, which often requires a Prequalification process especially in the public sector. Before a tender is submitted, we perform preliminary due diligence at the proposed project site. Once the tender is accepted by the client, it is converted into a letter of intent and a project manager and the project team are identified. Detailed project planning occurs to estimate resources, cost of completion and profitability.
Once all of these items are determined, a contract is signed with the client. Resources are then mobilized at the project site and execution of work is started. Work begins when the client hands over the site, plans and drawings to our on-site team. The project execution work is carried out as per the plan and the on-going requirements of the client. The Bill is raised for the proportionate actual work completed and duly measured and after certification by the client.
The bill is paid by the client as per the contract term and conditions, after reaching the threshold limit of the agreed level of the preparatory work or the completion of work. The actual cost of the work done and the revised estimates of the cost to complete the remaining work are carried out. The Company has a focus of the quality control, safety, health and environment efforts at the site offices which are further supplemented by the efforts from the zonal or branch office and the head office by way of technical audits and quality audits as to cost and time parameters as well as client satisfaction.