Business

Excello Developers on strategy, stability and the future of Sri Lanka’s construction sector

Published

6 months ago

2026/04/18

Founder and CEO, Subash Thavarajasingam

As global uncertainty affects local industries, Sri Lanka’s construction sector is making careful adjustments. With ongoing challenges like supply chain issues and changing economic conditions, industry leaders are putting more emphasis on stability, adaptability, and long-term planning.

Subash Thavarajasingam, Founder and CEO of Excello Developers, sees this period as a chance for steady progress rather than disruption. “This is a time for measured growth and smart decision-making,” Subash says. “By staying adaptable and focused on long-term value, we believe the sector is well-positioned to move forward with confidence.”

Instead of responding only to short-term changes, Subash stresses the need for proactive planning. “With the ongoing disruptions, we have seen some pressure on fuel costs and logistics. But we have proactively refined our procurement strategies – how materials are sourced, combining shipments, and building stronger relationships with suppliers”. Excello also reviews project specifications when needed, focusing on efficiency without sacrificing quality.

While some delays in delivery timelines, particularly for specialised components, have become unavoidable, Subash views this as a planning challenge rather than a setback, focusing on tactics such as placing orders earlier in the project lifecycle, building buffer periods into schedules, prioritising critical-path materials and maintaining closer coordination to ensure continuity. In this way, Excello has kept all its projects moving forward. “We have not had to suspend any projects; instead, we are being more selective and strategic in execution.”

A key theme emerging across the sector is diversification, particularly in sourcing. For Excello, this has become central to risk management. “We are actively exploring alternative sourcing options, including regional suppliers in East Asia, while also increasing engagement with local manufacturers where feasible,” Subash says. “While imports remain essential for certain materials, a more balanced sourcing strategy strengthens resilience.”

In parallel, contractual frameworks are also evolving. With cost fluctuations now a constant consideration, developers are rethinking how risk is shared across projects, incorporating more flexible pricing mechanisms and escalation provisions into contracts, thereby creating a more balanced risk-sharing framework between stakeholders that helps ensure project viability even in fluctuating market conditions.

Earlier forecasts predicted steady growth in the construction industry over the next couple of years, and despite current challenges Subash remains positive “Timelines may shift rather than decline,” he says. “The long-term fundamentals remain strong, particularly driven by urbanisation and evolving lifestyle needs.” Another positive is the shift in workforce trends “We have a valuable opportunity to strengthen the local construction workforce,” explains Subash. “While there may be some short-term adjustments, the long-term impact could be very positive, improving execution standards and addressing skill shortages.”

In an environment defined by uncertainty, flexibility has become a cornerstone of strategy. “We continuously evaluate external triggers such as fuel price fluctuations and global supply chain disruptions,” Subash concludes “We are adjusting timelines, cost structures, and investment strategies as needed, rather than committing to rigid plans.”

For Subash and Excello Developers, the way forward is to stay disciplined, remain adaptable, and build with purpose. This approach matches a wider trend in Sri Lanka’s construction sector, with companies across the industry investing in more resilient supply chains and updating risk-sharing frameworks to ensure sustained progress. Together, these efforts demonstrate an industry committed to moving from recovery to resilience, turning uncertainty into opportunity.

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Business

USD 57.4m power investment opens new route for SME energy savings

Published

9 hours ago

2026/10/9

Thilina Walpola

A rooftop solar panel in Sri Lanka

By Ifham Nizam

A USD 57.4 million investment package is set to reshape the economics of electricity for small and medium-sized businesses, while creating a stronger platform for private investment in rooftop solar and other distributed renewable-energy projects.

The financing package—comprising a USD 35 million concessional loan from the Asian Development Bank (ADB), a EUR 15.4 million grant from the European Union (EU), equivalent to USD 16.94 million, and a USD 5.5 million grant from the Japan Fund for the Joint Crediting Mechanism (JFJCM)—will finance a five-year programme to modernise the electricity distribution system from 2026 to 2030.

For the business community, one of the most significant elements is the planned introduction of Virtual Net Metering (VNM), which will be implemented in the country for the first time.

The EU-funded component will support 25 MW of aggregated rooftop solar PV capacity, specifically aimed at helping reduce the electricity-bill burden of small and medium-scale entrepreneurs.

The move could open a new investment channel for SMEs that have traditionally faced difficulties in absorbing high energy costs and making the upfront investment required for renewable-energy systems.

Rather than viewing rooftop solar simply as a household energy solution, the programme positions distributed solar as an important business-cost management tool.

For SMEs, which operate with considerably tighter margins than many large corporates, electricity expenditure can have a direct impact on competitiveness, cash flow and the ability to expand operations.

By allowing electricity generated from qualifying rooftop solar installations to be applied through a virtual net-metering arrangement, the programme is expected to broaden the economic benefits of solar power beyond individual premises.

The financial significance of the scheme extends beyond the initial 25 MW.

By establishing the infrastructure and regulatory framework required to manage aggregated distributed generation, the project could help create greater investor confidence in the development of decentralised renewable-energy assets.

The investment therefore has the potential to leverage additional private capital into the renewable-energy sector rather than functioning solely as a government-funded infrastructure programme.

The financing package is particularly notable because a substantial portion comes in the form of grants and concessional funding, reducing the cost of financing technologies that would otherwise require significant upfront capital.

The ADB loan will support the wider modernisation programme, while the EU and Japanese grant components will help finance renewable-energy integration and technologies designed to strengthen the grid.

At EDL, the investment will upgrade the existing CEBAssist platform with Advanced Metering Infrastructure (AMI), a Distributed Energy Resource Management (DERM) system and distribution control centres supported by an Advanced Distribution Management System (ADMS).

These systems will give the utility real-time visibility of electricity consumption and distributed generation, allowing it to manage an increasingly decentralised power system more efficiently.

That digital infrastructure is critical to the business case for expanding rooftop solar.

As more SMEs and other consumers generate their own electricity, the distribution network needs to know where generation is taking place, how much electricity is entering the grid and how those flows are affecting local network conditions.

Business

Renault Experience Centre opens at Majestic City

Published

9 hours ago

2026/10/9

Thilina Walpola

Renault has taken another significant step in its return to the Sri Lankan market with the opening of the Renault Experience Centre at Majestic City, Colombo, offering customers an opportunity to discover the brand and experience its latest models.

The Centre was officially declared open by Jawahar Ganesh, Group Managing Director of Associated Motorways (Private) Limited, accompanied by Prasanna de Silva, Director – Sales, AMW. The occasion was attended by AMW management and staff, members of the media, customers, well-wishers and other invited guests.

Located at the lobby of Majestic City, the Centre features three Renault models being introduced to the Sri Lankan market – the Renault Kwid, Renault Kiger and Renault Triber. Visitors can explore the vehicles, learn about their features and specifications, and take advantage of test drives available at the location.

Adding to the convenience for customers, AMW has ample stocks of Renault vehicles available in Sri Lanka, allowing customers to take delivery of their chosen vehicle without having to wait for months for it to arrive. Subject to completion of the necessary documentation and registration, customers can look forward to driving away in their new Renault within as little as one day, making the purchase experience faster and more convenient.

Customers can also enjoy greater peace of mind with a three-year manufacturer warranty, supported by dedicated Renault aftersales facilities to provide professional service and support throughout their ownership journey.

Commenting on the opening, Jawahar Ganesh, Group Managing Director of AMW, said, “We are delighted to welcome Renault back to Sri Lanka and to open the Renault Experience Centre at Majestic City. Renault is a brand with an exceptional heritage, a strong global presence and a reputation for innovation and distinctive automotive design. Through AMW, we are bringing that heritage and experience closer to Sri Lankan customers”.

Business

Dialog and Indira Cancer Trust continue breast cancer awareness initiative through Yeheli.lk

Published

9 hours ago

2026/10/9

Thilina Walpola

From left to right: Dr. Sanjeeva Gunasekera, President of the Sri Lanka College of Oncologists (SLCO), and Supun Weerasinghe, Director / Group Chief Executive of Dialog Axiata PLC, illuminate the Dialog Corporate Head Office in pink, joined by Dr. Lanka Jayasuriya Dissanayake, Chairperson of the Indira Cancer Trust, alongside representatives of the Indira Cancer Trust and the leadership of Dialog Axiata PLC, in support of Breast Cancer Awareness Month.

Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, marked the beginning of Breast Cancer Awareness Month by illuminating its Corporate Head Office in pink, in partnership with the Indira Cancer Trust, to stand in solidarity with individuals and families affected by breast cancer and encourage greater awareness, regular screening and early detection.

Building on previous breast cancer awareness campaigns conducted through Dialog’s Yeheli.lk platform in collaboration with the Indira Cancer Trust, this year’s initiative will continue throughout October under the theme, ‘A Pledge from the Heart’. As part of the campaign, members of the public can visit yeheli.lk to register for a free monthly SMS reminder and take their pledge for early detection throughout Breast Cancer Awareness Month.