21 November 2018

Interaction-Ravi Sinha, CISO, Eqpt.in

Eqpt.in provides end to end solutions around a complete life cycle of equipment

Companies like Eqpt.in are creating a revolution in Infrastructure Industry by creating a disruptive change.The Indian Infrastructure Sector is a classic example of an industry which gets in mire due to it being cyclical in nature and the fact that the sector requires huge CAPEX makes matters worse. Even though in the last few years, this industry has witnessed a lot of innovations and with the infra world hotting up in India in terms of new construction, such as building, metros, hydro and many more projects, still the news in the media is full of stories as to how big daddies of Infrastructure are also struggling to get out of debt trap due to huge investments in Capital Equipment. RAVI SINHA, CISO, EQPT.IN spoke to CONSTRUCTION OPPORTUNITIES on his young company which is silently creating a revolution in the sector and showing the way as to how to manage CAPEX and unlock hidden value.

 

Give us a brief on Eqpt.in and what it does?

Eqpt.in is an online platform facilitating a fair priced, transparent and user friendly construction equipment ecosystem. It aims to reduce the Capex involved in the Infrastructure industry, thereby decreasing Risks and increasing Profitability. Eqpt.in is all set to disrupt the Construction equipment industry by ensuring availability of equipment on a Sharing Economy model. It provides end to end solutions around complete life cycle of equipment i.e. from procurement to disposal.

It provides services like Equipment Info/Compare, Rental module, Spares, E Auction etc. It is headquartered in Hyderabad, India. But in simple term of word Eqpt could be understood as “the ultimate solution of all equipment needs”. What we do here in Eqpt is, to provide a platform to equipment owners and hirers. We are giving a fresh new option for contractors and builders, who need equipment for short or long period of time and to the one who want to rent his equipment for the time being. Not just this, but we are also providing services like information related to different type of equipment as well comparison of the equipment, we are also providing an online platform for b2c sales of spares of equipment, machinery, plants and Heavy vehicles. Offer alternate channel of sales with assurance of quality (genuine parts), short delivery time, fair pricing, and offer a wide variety with competitive pricing. Put in place dependable and transparent payment system. Our services also include comparison for the equipment, where in, the user can compare 6 equipments at a time, there are also some more services. But most important and unique thing that we are providing to our user is “What I want” feature on our web portal. If someone is in need of a specific equipment, they can just post their requirement in this column and we will do the outsourcing of the equipment for them.

 

What do you feel are the major challenges of the Industry?

Despite the rapidly growing construction industry, many companies are still finding it difficult to be successful. Margins are tighter than ever and a lot of companies are trading rupees, but not finding the success they are seeking. So now the question is, if they are doing every possible thing, then what is the hindrance that is coming on their way to success. In my perception there are a lot problems and issues in front of the builders and contractors.

The first and foremost problem of our industry is “Bad cash flow” as we all know getting paid during construction is getting harder by each passing day. Some times for the construction work, we need to buy some really heavy and expensive equipment either by cash and or on EMI. The problem is not in buying the equipment, the problem is we really don’t know, anytime we can get the order to stop our work due to some problem related to the environment or anything else. Our work will stop which means the equipment we have brought is going to be in the same way for some time. The one who buys machines is not sure either after finishing this project, whether he will get any construction project to work upon or not. So for the time being he has to pay the EMI of the machines he had purchased for the project. Also, they have to spend money on their maintenance too.

Not just this, but sometimes it happens that many contractors have many equipments in their garage. But they are not in use, that’s why they want to rent the equipment. But the problem is they don’t know whom to rent? Who is in need of these equipment? And some time some contractor buys a new and updated equipment and they want to sell their used equipment, but they don’t know how and whom to rent?

I think these are some major issues that our industry is facing today.

 

How can Eqpt. in help in solving this problem.

We are going to help them in solving this problem by providing them a platform, which aims to create a fair priced, transparent and customer friendly equipment ecosystem. Eqpt.in provides end to end solutions around a complete life cycle of equipment i.e. From procurement to disposal. Our market is a retail & P2P renting platform, people who rent and lend equipment can be benefitted from. Equipment owner can post their equipment, Contractor and builders can shortlist, touch base with owner and rent equipment directly from the owner.

Eqpt.in is an online platform based on a shared economy model, which empowers the Construction industry players to search, compare and choose a used equipment online and do the transaction offline as they always did. If you need a construction equipment and want to reduce your capex, decrease your risks and increase your profitability, then you should look for it on Eqpt.in

Not just this, but one can also stake their claim and compare our equipment online for rent. If anyone is in need of a specific equipment, they can also post their requirements. We also provide services like priority listing and hot posting to equipment owners, our technical team can also verify their equipment, giving a report on the technical health of the equipment, if they want. Because all such equipment will be classified as equipment verified. And the report will be made available to perspective hirer.

Our web portal includes info portal with 8 main categories and 37 sub categories of equipment. Around 20000 Equipment already registered for rent over 20 plus cities across India.

This section is dynamic in nature, will be under constant review for adding more categories and sub-categories. Specification of around 2800 models already available on our info portal, our info portal also includes services like user Reviews, rating of Equipment and discussion forms.

 

How can someone contact Eqpt.in

For contacting us all you need to do is visit our web page that is www.eqpt.in. After that click on the button “Contact us” and post your queries along with your contact number and email address. We will get in touch with you soon.




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