Powerplay achieves 3X growth, unveils its half year performance

Powerplay achieves 3X growth, unveils its half year performance

Bangalore, August 24th, 2022: Powerplay, India’s leading end-to-end construction management application, today unveiled its half-yearly report for the calendar year(CY) 2022. Accounting for a three-fold growth (compared to complete CY 2021) in its OS(operating system) business, the tech-enabled construction company is on a supreme amplification and is forging ahead with full steam. The cumulative time spent on the platform by the OS+ business segment increased to 1hr 13 min (+60% vs previous year).

Powerplay currently hosts three key modules in its app. They include – task, labour, and material management. All three modules in the application have seen a surge in their usage in the initial half of 2022 when compared to the whole of CY 2021. While the ‘Task Module’ remains one of the most widely used modules (with a 93% adoption rate), labour and material modules also witnessed a scale-up from 53% to 66% and 52% to 61% respectively. Despite the huge growth, cross-module adoption has boosted from 34% to 42%, meaning 42% of all OS+ users are heavily engaged on all three modules that Powerplay provides. This validates their thesis of becoming an OS for construction.

The contextual comparisons in terms of the primary numbers from 2021 to 2022 paint a prosperous picture for the construction management app:

The value of construction managed on Powerplay from January to June 2022 equates to INR 7500 crores. The numbers in the 2022 half-yearly report indicate that the app has trumped the performance of CY 2021 (INR 7000 crores in 2021)

The value of materials managed on Powerplay equates to INR 3275 crores in this half-year. It is a three-fold jump from the annual value reported in CY 2021, which was INR 1100 crores.

Powerplay’s application has been the home for construction businesses in India to evaluate and manage their workforce. The half-yearly report reveals that the current census of the labour force managed on the app per day is 265K as compared to 250k in 2021.

Articulating the half-yearly report, Iesh Dixit said, “The significant findings of the half-yearly report is a testament that we are progressing rapidly and moving northward. The three-fold growth indicates that product quality, market adaptability, and customer satisfaction are taken care of. We are confident that with constant progress like this, we will seamlessly penetrate the vast construction market in the country. With every initiative that we take and the client we onboard, we get closer to the mission of making construction management seamless and hassle-free in the country and across the globe.”

“More than 80% of the web active biz are OS+ biz i.e. they use the platform for four or more days in a week. This has improved both the retention of existing customers as well as accelerated the conversion time and conversion rate to a paying customer, thereby giving tremendous validation for the need of the product.” Iesh added.

The company computes OS and OS+ businesses on the basis of the work-progress updates on the platform. OS business is the company’s internal cryptonym for businesses that choose Powerplay and perform four or more work-progress updates on the application in a week.

“Every business has a Northstar that the team wants to achieve. We at Powerplay were always propelled by the fact that we all wanted to be the operating system for India’s construction industry. Our foresight remains strong and within our grasp after the half-yearly report and its findings. This gives us higher confidence and solidifies our thesis on being an operating system for the construction industry.” added Iesh Dixit, CEO & founder, Powerplay.  

Gaining precedence within the Indian construction industry, Powerplay is currently working on a global growth strategy. Beginning in the United States, the construction management software has exhibited promising results in its preliminary phase. Recently, the team completed the first stage of research and has been able to narrow down the ICP (ideal customer profile), flesh out their pain points, and comprehend their purchasing power. This approach has helped them discover similarities and differences between the Indian and US market. The insights gathered will help bring the changes and improvements wherever required. Powerplay has begun co-building a prototype for the developed nations with its beta clients as a next step before executing the expansion initiatives.

The company has also introduced their web portal made-to-measure for the office teams as part of their revenue plan, which includes premium modules for planning projects, Gantt Charts & S-curve to compare actuals vs. planned, procurement management services, and much more.

Powerplay continues to be the most sought-after construction management software in India with a wide geographical presence across all states and cities, from the National Capital to a small town in Chhattisgarh. Maharashtra continues to lead the pack with a 17% share. Delhi NCR jumps up to the 2nd position with 10%, followed by TN, Karnataka, and Gujarat with 8% each. The company’s corporate portfolio has diversified to include HADPL, We Work, Tanuvas, DNOVA, Settl, and CREH with the debut of the Web platform. Contractors involved with the construction projects of L&T, Tata Projects, Godrej, Buildcon, GMR, NSPL, and Hindland Infrastructure, among others, continue to utilize Powerplay to execute their projects effectively.

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