The introduction of the industrial production line in car manufacturing, pioneered by Henry Ford in the early 20th century, revolutionised the automotive industry and global manufacturing practices. But there is one sector that has—remarkably—failed to embrace the full potential of industrialised models of production: construction. Just look at housebuilding—while advanced manufacturing is now utilising robots and AI, in many ways homes are still being built as they were 100 years ago: with contractors laying bricks in muddy fields.

But technologies to modernise construction do exist. At Reds10 we have been pioneering them for more than a decade now, developing highly sustainable, innovative, high-quality modular buildings offsite in our dedicated factories in Driffield, East Yorkshire, for the public sector. These include amazing homes for the military, school buildings and facilities for the Ministry of Justice and the NHS.

However, in the UK this process, known as Modern Methods of Construction or MMC, has yet to enter the mainstream. This is at least in part due to the nature of our housebuilding market, dominated as it is by a small number of large housebuilders, who have a near monopoly over the market and therefore little incentive to drive forward innovation.

In the UK modular construction has also suffered from a perception problem — a hangover from poorly constructed post-war prefabricated buildings. This perception is grossly outdated: a bit like comparing a Morris Marina with a Tesla. Take, for example, our award-winning Imjin Barracks project, a highly sustainable three-storey building that provides the UK’s defence personnel with modern, comfortable and technologically advanced accommodation. Built offsite through our advanced construction techniques, Imjin Barracks, like all the projects Reds10 delivers, is unrecognisable from the much-maligned ‘prefabs’ of yesteryear and is indistinguishable from buildings built through traditional construction techniques.

But it is not just residential developments that can benefit from industrialised construction techniques. Reds10 has been working with the government’s multibillion-pound New Hospital Programme (NHP) to develop a prototype for the new in-patient bedroom that will be delivered in the first wave of state-of-the-art hospitals that will be built over the next five years. The full-scale model room, complete with ensuite and corridor, is now undergoing an incredibly rigorous process of clinical review and testing to ensure it is fully optimised for clinical use —and crucially—before designs are locked and replicated thousands of times (the bedroom alone will be replicated over 3,000 times in just the first wave of hospitals). This means any technical issues can be resolved now, before 11 new hospitals are built simultaneously, ensuring the late‑stage rework that has plagued complex healthcare builds and driven up costs can be avoided.

The advantages of industrialising construction in this way are myriad. Our factory production process is optimised for efficiency using repeatable processes and components, modern manufacturing tools, and advanced technologies that would be impractical on a construction site. The efficiency of factory construction means project delivery timescales can be drastically reduced by up to 50%.

Industrialised construction also greatly improves quality, with fewer post-construction snagging issues. Buildings are more airtight, providing greater energy efficiency without additional cost. And with around 90% of the construction completed in the factory, there is also far less disruption to local communities from works on site.

The efficiency of MMC also means that we can build projects with less labour. Across our pipeline we use around 30% less labour than would be required by traditional construction techniques, which is a real plus given the severe skills shortage that has long afflicted the industry. If construction as a whole industrialised in this way, the skills gap would be bridged.

In our factory settings we also employ our own workforce, investing in their skills and career development and supporting young people into apprenticeships and training opportunities. By other industry standards this may seem unremarkable, but in construction employing your own workforce (rather than managing an ever-growing chain of smaller sub-contractors) is increasingly rare.

Ultimately, MMC and the benefits it brings has huge potential to transform the construction industry, providing better quality, more efficiency, greater cost reductions, higher productivity, and improved sustainability. Industrialising construction in the way Reds10 is pioneering would bring the industry into the 21st century and help deliver the modern homes and infrastructure the country needs.

Learn more about how Reds10 is transforming construction here.

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The initial public offering (IPO) of edtech unicorn PhysicsWallah drew a muted response on the second day of bidding, with only 10% subscription recorded so far. The Rs 3,480-crore IPO, which opened earlier this week, will close for bidding on November 13.According to data available on the National Stock Exchange (NSE) till 11:30 am on Wednesday, investors placed bids for 1,83,06,625 shares against the total issue size of 18,62,04,143 shares. The retail individual investors (RII) portion was subscribed 46%, while non-institutional investors (NII) subscribed 4%. The qualified institutional buyers (QIB) segment, however, saw no participation for the second consecutive day, as per news agency PTI.Before the issue opened to the public, PhysicsWallah raised Rs 1,563 crore from anchor investors on Monday, the company said. This IPO marks a significant milestone as the first major pure-play edtech company to seek a stock market listing in India.The company has set a price band of Rs 103-109 per share, valuing it at over Rs 31,500 crore at the upper end. The issue consists of a fresh share sale worth Rs 3,100 crore and an Offer for Sale (OFS) of up to Rs 380 crore by the promoters.Both Alakh Pandey and Prateek Boob, the company’s co-founders, will each sell shares worth Rs 190 crore through the OFS. They currently hold 40.31% stake each in the Noida-based edtech firm.PhysicsWallah had filed its draft documents with Sebi in March under the confidential pre-filing route and obtained the regulator’s nod in July. The company later submitted its updated Draft Red Herring Prospectus (DRHP) in September, followed by the RHP. The confidential filing method allowed the startup to keep key IPO details undisclosed until advanced stages of the process.The company said that funds raised through the IPO will be used to support expansion and growth initiatives. PhysicsWallah provides test preparation courses for competitive exams like JEE, NEET, GATE, and UPSC, along with various upskilling programmes. Its content is offered through YouTube, its website, mobile apps and a mix of offline and hybrid learning centres.The edtech firm, backed by WestBridge Capital, Hornbill, and GSV Ventures, reduced its losses to Rs 243 crore in the financial year ended March 2025, down from Rs 1,131 crore a year earlier. Its revenue increased to Rs 2,887 crore from Rs 1,941 crore during the same period, according to PTI.PhysicsWallah’s shares are scheduled to debut on the stock exchanges on November 18.

Last Updated:November 12, 2025, 08:26 IST

The NIPFP’s outlook positions India as one of the fastest-growing major economies in FY26, even amid global uncertainties.

The Indian economy is likely to expand by 7.4 per cent in FY26, driven by the positive impact of goods and services tax (GST) rate rationalisation, a revival in domestic demand, and strong performance in the US economy, according to the National Institute of Public Finance and Policy (NIPFP) in its latest mid-year economic review released on Tuesday.

The projection marks a significant upgrade from NIPFP’s April estimate of 6.6 per cent growth, and also surpasses the Reserve Bank of India’s (RBI) latest forecast of 6.8 per cent.

“Largely on the back of robust public sector investment, revival in domestic consumption demand in both rural and urban areas, goods and services tax (GST) rate rationalisation, and the external sector, especially the US performing to its potential, the economy is expected to clock this robust growth,” the review stated.

Alternate Growth Scenarios

The autonomous research institution, which functions under the finance ministry, presented two alternative scenarios based on the performance of the US economy.

If the US output stays 1 per cent above potential, India’s GDP could expand by 8.8 per cent in FY26. Conversely, if the US output remains 1 per cent below potential, India’s growth may slow to 6 per cent.

Inflation Outlook

The NIPFP projected retail inflation at 1.6 per cent in the current financial year, citing easing food inflation. However, it warned of rising core inflation, driven by higher prices of gold and silver, and persistently elevated edible oil inflation.

“Our inflation projection is quite lower than the 2.6 per cent estimated by the RBI. The inflation is expected to remain 1.1 per cent in Q3 and 0.8 per cent in Q4,” the review noted. It added that while buoyant domestic demand from GST rate restructuring poses an upside risk, moderating energy prices and Trump tariff-induced demand moderation could act as downside risks.

Trade Concerns and Diversification

On the external front, the NIPFP highlighted that most bilateral trade deals disproportionately benefit the United States, urging India to diversify its services exports to mitigate potential risks from widening US tariffs.

“Unlike some countries, India holds very little leverage in merchandise exports, which are concentrated in a few sectors. In the case of services, more than half of India’s exports are to the US, and they face real risk if the net of Trump tariffs widens. Hence, diversification is the key,” the review cautioned.

With strong fiscal support, GST-driven efficiency gains, and resilient domestic demand, the NIPFP’s outlook positions India as one of the fastest-growing major economies in FY26, even amid global uncertainties.

Mohammad Haris

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More

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