BCD Group, one of the oldest names in the Indian construction and design industry, today announced the launch of its interior design arm, Casadilusso, to strengthen its forward integration and offer an end-to-end service for real estate developers and home buyers. This assumes significance as developers are increasingly looking at vertically integrated contractors who can offer design, engineering, construction, and more, all under the domain of a single entity to enhance productivity and efficiency.
With the launch and integration of Casadilusso, BCD Group aims to become a preferred contractor for all developers with its integrated capabilities of ‘concept to delivery’ and a technology-first outlook. The design arm has already received projects in Bangalore, Indore, Lucknow and UAE, in a testament to the developers’ trust on BCD’s proven expertise in construction and is expected to contribute 17% to total revenues in the next 3 years.
According to Mordor Intelligence, India’s Interior Design Market generated a revenue of $22.21 billion in the current year, and it is expected to witness a CAGR of 18% during the forecast period with commercial real estate leading the demand, followed by the residential segment.
Commenting on the expansion of services, Angad Singh Bedi, Managing Director at BCD Group “With over seven decades of experience in developing state-of-the-art commercial, residential and public infrastructure, we are using our learnings to strengthen our business by investing in backward and forward integration. The launch of our interior design arm Casadilusso is in line with this vision which will help us become a one-stop shop for developers’ varied needs. This will further help us tap into the burgeoning interior design industry and accelerate our revenue growth while creating a niche for ourselves in an entirely new space”
Over the next 5 years, BCD Group aims to furnish 3 million square feet of real estate through its design arm and is actively partnering with domestic and international developers. This growth will also come on the back of over 14 million square feet of real estate space which the BCD Group has under construction currently.
Jasna Bedi, CMO of BCD Group and Founder of Casadilusso added, “As an organisation, we have always been at the forefront of understanding the varied needs of the industry and have been building forward integration capabilities with the launch of Casadilusso. The interior design arm of BCD Group will cater to a host of requirements of the developers and occupiers by undertaking end-to-end design services – from flooring, to electricals and decoration, we provide a wholesome experience to our customers”.
Furthermore, the growth of the Indian Real Estate Sector will play an active role in driving the growth of BCD Group’s interior design services. According to the report ‘India Real Estate: Vision 2047’, developed by Knight Frank India in association with NAREDCO, India’s real estate sector is expected to expand to $5.8 trillion by 2047 with the projected real estate contribution to stand at 15.5 percent to the total economic output in 2047 from an existing share of 7.3 percent. Here, the residential real estate output will touch $3.5 trillion from $299 trillion in 2022 while the office real estate output will reach $0.47 trillion from $0.04 trillion, the report said.