# Joint Venture (JV) in Construction

> A joint venture in construction lets firms pool resources to meet tender pre-qualification. See an NHAI example and how SuperWise records SPVs.

Canonical: https://superwise.site/glossary/joint-venture/
Last updated: 2026-11-01

A temporary partnership of two or more firms that bid for and build a large project together, sharing its risks and profits.

## What is Joint Venture (JV)?

A Joint Venture (JV) is a temporary partnership in which two or more construction firms pool resources, machinery and expertise to bid for and execute one project. JVs form to meet the pre-qualification criteria, such as turnover or technical experience, that governments set for very large [tenders](https://superwise.site/glossary/tender-tendering/) and that no single partner could meet alone.

## Practical example

The NHAI invites bids for a 10 km sea-link bridge. Company A is an expert in marine piling but lacks financial scale. Company B has the capital but no sea-link experience. They form Company A-B JV, win the ₹5,000 crore tender and share the execution risk and the profit.

## In SuperWise

SuperWise records a joint venture partner as an organisation of type SPV, the project lists the SPVs that make up its joint venture structure, and a [work order](https://superwise.site/glossary/work-order/) or purchase order can name the SPV for a JV contract.

[For contracts and purchase](https://superwise.site/professions/construction-contracts-and-purchase/)

## Related terms

- [Tender (Tendering Process)](https://superwise.site/glossary/tender-tendering/)
- [Notice Inviting Tender (NIT)](https://superwise.site/glossary/notice-inviting-tender/)

## Related
- [Tender (Tendering Process)](https://superwise.site/glossary/tender-tendering/)
- [Notice Inviting Tender (NIT)](https://superwise.site/glossary/notice-inviting-tender/)
- [For contracts and purchase](https://superwise.site/professions/construction-contracts-and-purchase/)