The Hindu Business Line : In4velocity develops Web-based application for realty sector

Bangalore May 4 The tremendous opportunities that the real estate sector has thrown up for developers notwithstanding, the sector has vast potential for software developers too, "with software sale possibilities of about Rs 1,100 crore," said Mr Rahul Chawla, CEO, In4velocity Systems, provider of end-to-end process automation, management and benchmarking software for the real estate and property development industry.

The company, founded in 2003, has developed In4Suite, a Web-based application, which consists of integrated modules that provide a 360-degree real-time view of the business, leveraging dashboards and drill-down tools.

Key Features

The domain-centric software connects all business processes from land acquisition to legal liaison, project conceptualisation, engineering, purchase, sales, marketing, project management, and rentals/lease management, said Mr Chawla. "Unlike a traditional ERP software, where it is all about reporting data, this software enables data analytics and data mining."

Some of its key features include milestone-based project planning, online integration with major accounting systems, reporting and analysis, integrated knowledge management application, online certification and generation of bills, material and inventory management, integrated construction management, etc.

This helps clients save time and costs, depend less on people, add predictability to the business, and plan yield in a down market, Mr Chawla said.

Tall Order

The product provides real-time information to all stakeholders involved — customers, financial institutions, vendors and contractors, among others.

The product, which costs upwards of Rs 25 lakh depending on the number of users, will take about 4-8 weeks to install and configure.

In4velocity currently has 30 clients, of which "50 per cent was added in the past year," Mr Chawla said. It hopes to add 3-4 clients every month.

This is not a tall order considering that "there are 3,600 developers in the large enterprises segment across just 11 cities," Mr Chawla added. Added to these are about 18,000 developers in the SME sector across 27 cities.

In the next two years, "we would like to target 27 cities," he said.

Doubling Staff

Based on the hub-and-spoke model, the company has achieved a 150 per cent growth with revenues of over $1 million as of March 2007. Mr Chawla hopes to touch $3 million revenues this year. With offices in Bangalore, Delhi, Kolkata and Mumbai, In4velocity plans to enter Chennai, Hyderabad and Pune soon; global markets such as West Asia, China and Malaysia are also on its radar. The company, with a headcount of 70, hopes to double its staff by the year-end, and continue the trend for the next couple of years.

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