Plans: Within our business verticals we are looking at increasing scope and scale, new addressable markets and new geographies. New business growth shall come from not just EPC business but through BOT, PPP and construction. Urban infrastructure wherein we have synergies with our industrial infrastructure (such as urban transport) are being ventured into. These new forays cumulatively shall drive growth in the next 3-5 years.
Impact of slowdown: The slowdown has made the industry cost effective, innovative and wary of taking undue risks, which was symptomatic of past years. This in turn set in motion collaboration with foreign players and amongst domestic partners. We have tied up with a few players for entering new geographies.
It has become more mature, with project execution and domain expertise taking precedence over blatant bidding a typical trend of past growth years. Also we observe the market is shifting from pure EPC to end to end services, especially PPP as the way forward.
Optimism? With policy improvements, 2014 will be an exciting year. The government needs to improve the PPP framework for long term financing. The next growth wave is just round the corner.
VINAYAK DESHPANDE, Managing Director, Tata Projects Ltd, which last year scouted for opportunities in water, urban infrastructure
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