SoftTech Engineers Limited is an NSE listed firm in the SME sector. SoftTech has forayed into the global market by expanding its business activities in the US, UK, Malaysia and Singapore with its novel CIVIT platform. The company shared its vision for growth in the AEC (Architecture, Engineering & Construction) domain, leveraging technological innovations.
Since its inception in 1996, SoftTech has introduced many homegrown innovative products for the AEC industry. Mr. Vijay Gupta, Founder and CEO of SoftTech Engineers Limited, shared some insights into one of SoftTech’s premier innovations, AutoDCR®. “AutoDCR is an Artificial Intelligence based approval system that automatically approves digital building plans, without need for human intervention. AutoDCR is the first product in the world that automates the permit process for CAD based building drawings. Today, more than 600+ urban local bodies are using AutoDCR® for issuing construction permits across India. This innovation has helped the government in lifting India’s ‘Ease of Doing Business’ (EODB) ranking from 181 to 27 in the space of construction permits.”
After establishing a stronghold in India, SoftTech is now expanding aggressively into the global AEC market. Currently, SoftTech is eyeing the US, UK, Malaysia, and Singapore markets. In the US, Softtech intends to make a splash in 2021 with its unified application platform CIVIT. Mr. Gupta explains the scope of CIVIT. He says, “SoftTech has developed a gamut of products for construction permits, infrastructure process management and construction life cycle management. CIVIT combines our various products into a single unified platform. Having done preliminary studies, we see massive market potential for CIVIT in the international market. Our Go-To-Market strategy specially focuses on the US for the next three years. We have started participating in many bids around CIVIT, with a target of business value of 10-15 million USD in the span of three years.”
Domestically, Mr. Gupta is very excited to announce that SoftTech has introduced a start-up incubator program to groom start-ups in AI/ML, AR/VR, BIM /GIS/ Image processing space and drone-based unauthorized construction supervision. For supporting this endeavor, SoftTech has dedicated an entire floor of office space with separate rooms for 5 companies and 50 employees.
Apart from enhancing current software products, SoftTech intends to foster world-class academic research in the AEC domain. The long-term goal is to solve difficult research problems and ease the business operations in industry through software products. To this end, Softtech has opened up collaborations with premier technical institutions like IIT Mumbai.
SoftTech is a profit-making company with about 30% of EBITDA margin, and is targeting an increase in the sales revenue by 300% over the next 3 years. Simultaneously, Softtech plans to graduate from the SME exchange to the mainboard of NSE soon.