RMD Kwikform is involved in every stage of the project, consulting with customers in order to fully understand their requirements, develop tailored design solutions, assist with planning and implementation, and offering dedicated technical site service to support the project. By combining design and engineering expertise, world leading systems and high service levels, RMD Kwikform has become a leader in the formwork and falsework market.
Arul Raja, Vice President, RMD Kwikform told Sandeep Menezes that he foresees a growth of around 25 per cent in the year ahead for the formwork segment nationwide.
Excerpts from the interview:
With the new government coming in and policy clarity happening, how has the market sentiment improved nationwide?
Currently the sentiment of the market is very positive mainly because of the various infrastructure project announcements. The nation also requires lots of infrastructure development to happen. The new government is keenly looking into infrastructure development therefore the market sentiment is very positive.
What is the current market-size of India’s formwork segment?
It is very difficult to give an estimate for a market like India. We do lots of business planning but most of it is done on educated guess. It’s not easy to put a number to it because most of the formwork requirement is not fulfilled by foreign companies but smaller local players. Only 15 to 20 per cent of the formwork market is catered by the larger companies like us.
How much growth do you foresee in the formwork sector nationwide?
I foresee a growth of around 25 per cent in the year ahead for the formwork segment nationwide. The main driver for the growth will be the infrastructure development that will happen nationwide.
Technologically, how does the Indian formwork segment compare with other nations?
India is adapting well to the new technologies – its adoption has been faster when compared to Middle East but yes technologically Europe is far ahead.
There has been lots of change in India since last three years. Now more people in India are adopting new formwork technologies.
In India not everything is driven by price. The customers do look into productivity and product lifecycle while willing to pay more for better quality.
India is a price sensitive market while new technologies has a higher costs attached to them. Comment.
It’s not necessarily higher priced. India is a cost sensitive market. But if you compare any other part of the world then everybody is price sensitive.
What do you expect from the new government in terms of support for the industry?
The new government wants to invest in roads, railways, power etc. These are the infrastructure segments that have a lot requirement for formwork. In case of buildings, the formwork can be done with anything but for these infrastructure projects they need companies like us to support them.
What is the future business strategy of RMD in India?
We are going to invest in equipments and on people. We are providers of engineering solutions and equipments but don’t do it ourselves but this service is going to be extended in the coming years therefore more people will be added for site services.
We are expecting at least 30 per cent year-on-year revenue growth for our company in the next few years.