DURHAM, N.C., Oct. 17, 2017 (GLOBE NEWSWIRE) -- Prescient, a fully integrated BIM design and building platform that dramatically reduces the time and cost of constructing multi-unit housing using a proprietary modular construction system, today announced the appointment of Sunil Ghatnekar as Chief Financial Officer. Mr. Ghatnekar, a longtime executive with The Coca-Cola Company (“Coca-Cola”), will play an integral role in driving the continued growth of Prescient, and his prior experience positions him well to take a leading position in the financial and strategic management of the company.
Prescient is changing the way buildings are designed and built, through quality, technological innovation, cost efficiency and environmental sustainability. The company works with clients from the initial plan to the assembled building, and is ideally suited for multi-unit projects including apartments, student housing, hotels, military and senior living.
Mr. Ghatnekar joins Prescient after 25 years with Coca-Cola, where he most recently served as Chief Financial Officer of the Bottling Investments Group. This business, with more than 100 plants, 400 warehouse and distribution centers and 70,000 employees, collectively generated more than $18 billion in revenue in 2016 and increased profits substantially. His addition to Prescient’s growing leadership team comes as the company continues to add a variety of projects to its pipeline, which currently exceeds more than 10 million square feet nationwide.
“We are excited to welcome Sunil and look forward to drawing on his deep insights and expertise from his many years at Coca-Cola,” said Magued Eldaief, Chief Executive Officer of Prescient. “Sunil is an extraordinary financial executive with a strong track record of managing large, complex organizations. He will enhance Prescient’s ability to capitalize on further growth opportunities driven by the increased digitization of the construction space and the need for advanced manufacturing capabilities.”
Prior to his most recent role at Coca-Cola, a position Mr. Ghatnekar held for seven years, he served as the CFO for Coca-Cola’s Eurasia and Africa Group. In this role, he led one of Coca-Cola’s five main operating groups across more than 90 countries, with $2.5 billion in annual revenue. Mr. Ghatnekar also served as the Group Manager, Corporate M&A for four years, during which time he was responsible for executing M&A strategy towards restructuring and business development across several geographies in Asia, North America, Europe, Russia and the Middle East.
“I have long admired Prescient as an innovative category creator with its one of a kind end-to-end digital solution, and am excited to join such a talented management team to help lead this fast-growing company,” said Mr. Ghatnekar. “I look forward to working closely with the management team and board as we push Prescient forward and firmly establish the company as the leader in digital construction design, engineering and manufacturing technology.”
“Prescient has seen remarkable growth since its founding five years ago, and I can think of no one better suited than Sunil to join our management team. As the CFO of a major business line at Coca-Cola, Sunil knows first-hand what it takes to run a billion dollar corporation,” added Satyen Patel, Executive Chairman of Prescient. “Sunil adds significant depth to our management team, with his deep operational expertise and international markets experience. Prescient continues to pursue and successfully complete major projects, and the addition of Sunil will no doubt help build on our success.”
“For 25 years, Sunil has been a key part of The Coca-Cola Company’s financial team,” said Kathy Walker, Executive Vice President and Chief Financial Officer, The Coca-Cola Company. “During his tenure, he developed a reputation as an innovative problem solver and strategist. He has a unique global perspective and always looks to add value to every organization.”
“Sunil has been a key leader in our company-owned bottling operations during a critical growth period,” said Irial Finan, Executive Vice President and President, Bottling Investments Group, The Coca-Cola Company. “His leadership during numerous acquisitions and divestitures will continue to deliver meaningful results for years to come.”
Prescient has delivered a compounded annual growth rate of 119% from 2013 through 2017. From 2013 through 2016, the company focused on building multi-unit housing across Colorado, Florida, Nebraska, Missouri and Texas. In 2017, the company has expanded its building footprint into Georgia, Illinois, Kansas, Kentucky, New York, North Carolina, Ohio, and Oklahoma. Prescient built 3 million square feet of multi-unit housing from 2013 to 2016 and will build two million square feet in 2017 alone.
The company’s current project development pipeline exceeds 10 million square feet, which equals more than $300 million for delivery in 2018 and 2019. Prescient receives requests for proposals of more than 1.5 million square feet per week. As a result, the company recently doubled the size of its Colorado manufacturing facility and brought a second plant online in North Carolina in July 2017.
Mr. Ghatnekar earned a Bachelor of Commerce from Delhi University, is a Chartered Accountant and has a Masters in Business Administration from the University of Virginia Darden School of Business. He is currently a member of the Advisory Board of Dharma Life and a member of the Corporate Advisory Board of the University of Virginia Darden School of Business.
Digital Thread. The foundation for Prescient’s revolution is a standardized light gauge framing system that utilizes proprietary software applications which create a design and construction platform. Our thread connects projects from the initial architectural design through the finished building. The Prescient Digital thread is based on a model-centric design and planning platform that liberates project stakeholders to plan better and execute better. As a result, a project is no longer a series of isolated steps with familiar breakdowns and gaps. Instead, it becomes an orderly progression through a repeatable flow, connecting developer, designers, suppliers and contractors at every step. This seamless approach means higher productivity, higher quality, fewer last-minute conflicts on site, less waste, shorter schedules, and a better ROI.
Integrated Manufacturing. Prescient uses precision manufacturing technology including robotics, laser cutting systems, and state-of-the-art numerically controlled flexible manufacturing systems to deliver buildings with very tight tolerances, comparable to the automotive industry. Prescient’s digital thread integrates planning & design with manufacturing & installation.
Established in 2012, Prescient is aiming for nothing less than a revolution in the way buildings take shape through new levels of cost efficiency, environmental sustainability, and quality of outcome for all participants. Prescient’s platform ensures buildings perform better, cost less, and take less time to build by employing a digital thread for leading-edge integrated manufacturing.
We are Prescient. And we’re rebuilding construction from the ground up.
Source:Prescient Co Inc.