There should be a function or a feature that we can use to increase and decrease value of a Alpha-Numeric Progression as it is there in MS Excel. This helps in creating alpha numeric unique IDs for example PMS0001 can be incremented to PMS0002 by addition of 1 or FSA-a can be incremented to FAS-b by addition of 1.
Hi @AnkurJain, welcome to the community! 
In Honeycode, you can auto-increment a value and create unique IDs with automations. Check out this article with an example of how to set this up: Build a Unique Row ID Automation
Let us know if that helps and meets what you're looking for. 