About the Company:
Softech Engineers Ltd (Headquartered in Pune)was started in the year 1996 as a software product innovation company which caters to the Architecture, Engineering and Construction (“AEC”) verticals.
Company has been specialising in developing product for e-governance and construction ERP products for smart city projects, municipal corporations, urban local bodies, development authorities and work organizations.
Company also offers 2D and 3D CAD based intelligent and machine learning driven technology which eliminates entire human intervention along with providing Cloud Technology enabled products offered as “SaaS”.
Company is partnering the government in its mission – “Ease of Doing Business” by associating ourselves as a “Smart City Solution Provider” meeting the requirements of the automation in Architecture, Engineering & Construction (AEC) verticals using their expertise in IT.
Company has strategic business alliances with key organizations such as – Microsoft and Autodesk. All these partnerships helps Company to provide integrated and seamless solutions to their customers and boost the solutions through technological advancements.
Company’s revenue is based on License fees, BOT model, servicing and support fees, one time set-up fees, Annual Maintenance Contract and continuous development fees.
Details of Company’s Products:
AutoDCR: It is a unique and innovative solution for automation of building plan scrutiny and approval. It reads CAD drawings and maps them to the development control regulations for approval by municipal corporations and approving authorities.
Who is it for?
AutoDCR® has the ability to provide a single window for acquiring building permits, NOCs and clearances from multiple agencies. The solution caters to several types of worldwide organizations engaged in building plan scrutiny and approvals including, but not limited to:
- Municipal Council
- Municipal Corporation
- Development Authority
- Industrial Development Corporation
PWIMS: It is a web-based COTS application for managing the core functional processes of works planning, procurement and maintenance in public works organizations.
Who is it for?
PWIMS™ was developed based on the needs of organizations engaged in the works, procurement and maintenance of infrastructure assets such as roads, buildings, bridges, water works, and more. These organizations include:
- State- and country-level Public Works Departments
- Housing Development Boards
- management organizations
- Border Roads organizations
- National Highway Authorities
- Defense Engineering Divisions
- Irrigation and Water Works Departments
OPTICON: It is an all-in-one-solution that maps out the necessary business functions for construction enterprises, such as bidding, cost estimation, project management, accounting, plant and machinery, client billing, subcontractor management, sales, CRM, and HR & Payroll.
Successfully interfaced with Business Intelligence tools like SAP BO, IBM’s Cognos, and Microsoft Dynamics
It is successfully implemented in 100+ construction companies across India, the Middle East, and Africa.
Company’s Upcoming Products:
BIM-DCR: It is an upcoming product which is a new and updated version of AutoDCR with a new 3D BIM based technology.
The product is currently under R&D phase. BIMDCR will serve the same set of customers but with advanced technology which will serve the purpose of Smart City projects.
RuleBuddy: It is another upcoming product by the Company which is currently in R&D phase. It is an e-commerce platform which aims to help customers solve their queries prior to commissioning of any construction activities for particular area.
Who can Use It?
Over 6,50,000 architects in India can benefit from it. A digitally accessible web and app based platform, RuleBuddy is an innovative e-commerce portal to provide investment risk analysis and project feasibility.
It provides all the rules and process related information across ULB under one roof. Conceptualized and fully developed in house, RuleBuddy has robust rule engine, already mapped for 500+ ULBs across India.
The key users for this product will be Project owners, project developers, construction companies, architects, engineers among others.
Integrated Building Permits System (IBPS): It is another upcoming product by the Company which is also in R&D phase. IBPS provides innovative, intelligent and collaborative platform to accelerate the approval of building projects.
Positives for the Company:
Strong domain focus: (Architecture, Engineering and Construction Domains)
With more than 3 decade of experience and understanding of business in which they operate, it helps them in providing IT solutions and software products that benefit their clients and differentiates them from their competitors.
Focus on Innovative Solutions:
Company has been developing innovative products since its inception. Company’s products have led various government authorities and its department in completely digitalizing their activities.
Being an early mover in the industry and established track record of working with government on various projects,Company plans to develop their product portfolio.
Expansion of their Geographic Presence:
Company is currently operating primarliy in domestic market with very little presence outside India. The acceptance of their products in Indian market have given them the confidence to further expand the business into other geographical markets.
Company intends to expand their operations to Middle East, Africa, South East Asia including Australia, United States and European countries by FY 2019-20.
Smart City Solution Provider:
Company develops product which serves digitised building construction permits and infrastructure works project management and monitoring systems which are core requirements of any technology adoptions in Smart City projects.
With list of smart cities already announced and huge amount is going to be invested by the government in these projects, Company stands to benefit by providing their products in smart city projects.
Online Building Permit Implementation in Full Swing Across India.
The municipalities of 500 cities with a population of over a lakh will soon have to issue documents such as construction permit within 24 hours of receiving an online application.
This is one of the five urban reforms being pushed by the Union urban development ministry to streamline municipal services and ensure a hassle-free experience for citizens of 500 cities.
PM Modi sets March 2019 deadline for online permission for buildings.
Honourable Prime Minister Shri. Narendra Modi has set March 2019 as deadline for all municipalities to get online to grant permission for construction of buildings. He also asked all agencies to complete geo-tagging of urban infrastructure being built under the urban rejuvenation mission, AMRUT, by this month-end so their progress can be reviewed.
The Prime Minister issued these directions during his recent web-based interaction with the secretaries to various ministries and chief secretaries of states during the monthly PRAGATI meet. This system enables people to get the requisite permission by placing an online application rather than visiting municipal offices. This is one of the major thrust areas of government under its ”ease of doing business” initiative.
SoftTech’s AutoDCR software is the preferred software for online permission of buildings, with more than 500 ULB’s currently under implementation. The Prime Minister’s declaration is sure to add impetus to the adoption of AutoDCR software in municipal bodies and cities under “AMRUT” mission.
SoftTech bags prestigious orders from MCGM SoftTech has bagged prestigious contract of Rs. 8.13 crores from Municipal Corporation of Greater Mumbai.
The project is for “Development of Software Application for Auto Scrutiny of 3D BIM based building models based on DCR 2014-2034”.
In addition, SoftTech had received order of Rs.2.2 crores for enhancement of Single Window system, and another order of Rs. 0.33 crores for software for TDR (Transfer of Development Rights).
SoftTech’s foray into US market.
SoftTech has initiated activities for business development in North America. SoftTech Engineers Inc. is incorporated in USA and will be 100 % subsidiary of SoftTech Engineers Limited, India. The business activities of SoftTech US operations are started.
SoftTech’s Europe initiative.
SoftTech has started process of incorporation of company in Finland (100 % subsidiary of SoftTech Engineers Limited, India) for building smart city product of next generation in collaboration with technology companies there.
Kerala State Project goes live.
SoftTech was awarded the project for Intelligent Building Plan Management System (IBPMS) for State wide deployment under the “Ease of Doing Business” initiatives in Kerala state by implementing Company’s product AutoDCR. The first stage of the project has successfully gone live and the process of online submission of building proposals has commenced.
Also take a Look at Company’s Website: (Company is Currently Rebranding Itself) (Click on the Company’s Logo)
Financials of the Company:
|(in Crores)||FY 13||FY 14||FY 15||FY 16||FY 17||31st Oct 17|
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Note: Because of the above Positive points, SoftTech Engineers could give Multibagger returns in the Coming Years.
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