Ashutosh Shukla, COO, Magma Fincorp Limited talks to Construction Week Online about the growth potential of construction equipment market.
How big is the construction equipment market in the east?
Estimated size of construction equipment market in the east is of Rs1800-2000 crore. With the budgetary allocations to boost this industry, it should grow at a rate of 15-20% in the next few years.
We have a strong market presence on the retail side with a market share in excess of 10%.
Which are the construction equipments you finance?
We finance the entire spectrum from a six wheel tipper and a backhoe to articulated heavy duty dumpers and heavy tonnage excavators.
What are the potential growth sectors in Kolkata?
The way traffic is growing, we will soon require a lot many flyovers in the city. Flyovers and centralised car parks will be the need of the hour. We will soon have a lot of specialised industrial zones. For example, a foundry park is scheduled to come at Amta and a food park at Howrah - both are in near proximity to the city.
What is the current scenario in Kolkata in regards to construction activities and project developments?
The city is witnessing a considerable growth in civil construction activities. NBCC, EPI & Mackintosh Burn is executing various civil works ranging from construction of hospitals, staff quarters, chemical plant at Maniktala. The Metro Rail work is also progressing in full swing. The metro flyover work has also gathered pace. Apart from these, government job allocations, the real estate development in Rajarhat and Kolkata outskirts has gained momentum.
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