The value engineering blueprint: How Access Engineering is building a diversified future

For decades, Access Engineering PLC has been a foundational pillar of Sri Lanka’s development, its name synonymous with the nation’s roads, bridges, and landmark buildings. Yet, beneath this established identity, a strategic transformation has been unfolding. Guided by a core philosophy of “value engineering,” the company has evolved from a construction powerhouse into a diversified conglomerate spanning nine sectors from automotive and logistics to pioneering ventures in renewable energy and radiopharmaceutical.

- BY Nishel Fernando

This calculated diversification has not only built resilience against economic headwinds but has also fuelled impressive growth. For the financial year ending March 31, 2025, the Group reported a 61 percent surge in turnover to Rs. 34.511 billion and a net profit of Rs. 6.291 billion, while declaring Rs. 2 billion in dividends.

Mirror Business recently sat down with Access Engineering PLC Co-Founder and Executive Vice Chairman Christopher Joshua to delve into the strategy behind this expansion, the challenges of navigating the current economic landscape, and the company’s vision for engineering a sustainable future. The following are excerpts from the discussion.

Access Engineering has diversified into nine interconnected sectors, with civil engineering now contributing 58.32 percent to Group revenue. Could you elaborate on this strategy and the philosophy behind it?

Our core philosophy has always been about creating value in every business we engage in through value engineering. As an engineering company, this started with backward integration—moving into engineering design and then into producing our own materials. This process allowed these businesses to evolve into market leaders on their own. Our diversification is a natural evolution of finding and creating value, which has given us resilience, especially during challenging economic times. We’ve now clearly segmented our business in our reporting so stakeholders can better understand the strengths of each vertical.

The construction materials segment has become a major contributor, reportedly over a third of your turnover. How did this business evolve to become a market leader?

This segment grew directly from our value engineering focus. By integrating vertically—owning quarries for aggregate and rock, and producing our own asphalt and concrete—we maximized productivity and minimized costs.