Saturday, January 23, 2021

Interaction-DK Vyas, CEO, SREI BNP Paribas

Our innovative practices will help us retain our market dominance

 

Srei Equipment Finance Ltd has been a pioneer in equipment financing. The company provides financing and leasing solutions for equipment in varied sectors like Construction and Mining, Preowned Equipment Solutions, Healthcare, Farm Equipment, and Technology Solutions. The company recently won the award for Best CE Finance Company at CONSTRUCTION OPPORTUNITIES EXCELLENCE AWARDS 2016. DK VYAS, CEO -Financial Services, Srei, spoke to SHAILAJA SHARMA on the company’s experience and the takeaways from bauma CONEXPO INDIA

 

On your assessment of BAUMA CONEXPO INDIA 2016 as a trade fair and business generator

Events like Bauma serve as confluence ground for all industry participants – manufacturers, customers, financiers and regulators. This edition of Bauma was bigger and better than its predecessor in terms of sheer size and magnitude with around 650 exhibitors and with around 31,000 customers.

 

Elaborate on your products launched at BAUMA CONEXPO INDIA 2016

We offered many attractive products for our visitors. We also had tie-ups with major manufacturers under which we provided attractive interest rates, moratorium periods and other customised solutions to our visitors. We had a Lotto Game – ‘Khel Interest Ka’ for the visitors; where the participants were given the opportunity to win interest rates starting as low as 4.99 per cent per annum. We also showcased iQuippo – India's first comprehensive digital marketplace for construction equipment and services. This initiative facilitates buyers and sellers to interact, negotiate and close transactions in a timely, transparent and cost-effective manner. The platform offers total solutions for all types of construction and mining equipment and also provides value added services like asset certification, valuation, parking, maintenance, logistics, spare parts and manpower.

 

On the takeaways from the event

Bauma is an important platform for the industry and forms an important part of the company’s tactical intent. The event lifted the spirit of the infrastructure equipment sector which has gone through a challenging phase in the last 2-3 years. This year Bauma has exceeded our expectations

 

Your views on the construction equipment sector opting for web based marketing solutions

Keeping up with times technology has changed the way people do business. Digital platforms are now a big part of any organisation’s strategy. We at Srei have leveraged technology to take the equipment sector even further. We continue to invest in information technology, to improve our operational efficiencies, functionality, reduce errors and improve its productivity through well-defined processes and systems. We continue to implement technology led processing systems to make the appraisal and collection processes more efficient, facilitate rapid delivery of credit to our customers and augment the benefits of our relationship based approach. As our business and organisation continue to grow, we intend to remain committed to technological innovation to ensure our ability to respond to increasingly competitive market and to mitigate the risks we face as a financial institution. Some of the areas where we have recently invested in technology include; Business Intelligence; Business Analytics, Digitisation of Sales, Mobility Devices and other innovations. All these tools collectively play a big role in our organisational strategy.

 

What is Future Outlook for your company?

After a difficult time for the past few years, construction equipment sector is reviving again. This year we are witnessing numbers which are reminiscent of the time around 2011-12; when the sales of equipment sector were at an all-time high. On a year-on-year basis, in the first half of FY 2017, the sales of construction equipment have increased by around 40 per cent. As per industry wisdom, the construction equipment sector should grow at a CAGR of about 20 to 25 per cent till 2020. At Srei equipment finance, we have had a very good year. In H1 FY17 our disbursement grew by 35 per cent as compared to H1 FY16. Srei commands a 30 per cent market share and is going strong owing to our unique model. In the future our growth will commensurate industry growth and our innovative practices will help us retain our market dominance.




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