Tata Strategic was engaged to conduct a synergy study between two large EPC players to evaluate the benefits of a potential merger. The study included assessing each company's capabilities and how a merger could increase their combined abilities. Tata Strategic estimated the EPC market landscape, assessed each player's capabilities, and analyzed how a merger could harness synergies across various parameters like market access, financial strength, bidding ability, and cost reductions. They also considered how smoothly the companies could integrate their infrastructure and human resources as part of the synergy study.