The company was formed in Maharashtra in 1992 by Swapnil Ambardekar. In Nagpur Swapnil Ambardekar, had been heavily involved in Engineering and Railway Contracting – a key aspect of the Sidhcon Group’s success today.
When the Railway Electrification and Gauge Conversion work boomed in 1990s, Swapnil Ambardekar secured the contract to supply, install and test Small telecommunication system for the Railways and began building service buildings and residential buildings around Maharashtra and Madhya Pradesh.
A decline in the construction industry by 1995 led to Swapnil Ambardekar looking for new markets in which to use his skills. Western Maharashtra was initially targeted, but it was to Mumbai (Then Bombay) that the first batch of “Sidhcon Immigrants” was eventually dispatched in November 1998. Sidhcon Company, the construction company, was born.
From 1998 to 2002, the then Pune-based Sidhcon was focused on establishing itself and building a reputation. It achieved this very quickly, thanks in large part to its involvement on major housing and infrastructure commission projects in and around Pune.
By 2003, Sidhcon Constructions & Engineers had been formed and floated as a private limited company. This opened doors for Sidhcon and gave it increased credibility with government authorities.
It wasn’t all good news, however. A sharp downturn in the economy as well as a high inflation rate slowed Sidhcon’s growth in 2004. Profits fell by as much as 19 percent at one point, and adverse weather wreaked havoc with many of the company’s major projects in Maharashtra. Thankfully, the expansion into Madhya Pradesh and strong performance in Goa and Karnataka, together with a deeply committed and determined senior management team, helped offset the losses and by the end of the year, the Group began to recover. Separately, Sidhcon Engineering & Consultancy Services was started in 2003 in Pune.
Sidhcon Engineering & Consultancy Services developed a very successful business as a consultancy and engineering contractor. Sidhcon Machines was started in 2005, carrying out heavy earthwork. Several batching plants were installed with the required numbers of transit mixers, pumps etc.
Sidhcon felt the need to create expertise in wood interiors, which were designed and executed by a third party at our projects. By the year 2006, Sidhcon Wood Work was formed. Sidhcon Resorts & Agro Exports is a new entrant. The focus is to construct and lease out world class villas & apartments. Designing of agriculture equipment etc.
Sidhcon Group also has a 45% investment in Sidhcon –I.M.PATEL- JV.