"What we really look forward to in the construction industry is that the margins will have to be realistic, rather than being unrealistically low as now. The skew happens because of under-quoting just to get the project, accompanied by the absence of any checks and counters on the estimates. A best practice can, therefore, be to have (as in the US) the specification of 'freak high' and 'freak low' for any contract. For instance, if a project is estimated to be at Rs 100 crore, bids at plus or minus 20 per cent may not be entertained."
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