IndiaBulls Store One

Munish Taneja
Munish Taneja, President, Equipment Hiring Business

“At our booth G32, Hall 1, we will be showcasing our rental fleet range and our innovative rental solutions. We will be working with certain OEMs to offer leasing solutions to customers during the tradeshow. We will also meet new customers for expanding our customer base into new segments such as ports, mining, airports, and dredging.”

More and more companies are moving towards rental equipment solutions due to stiff project deadlines.

The Equipment Rental Market in India is set to grow rapidly in the next 3 to 5 years due to increase in infrastructure spending and need for speedy execution of projects. Equipment rental is a convenient way for all the large construction companies and EPC players to supplement their existing fleet and reduce the total time taken to complete a project. They don’t have the hassle of paying EMIs, or having a storage for equipment parts, or maintaining a large equipment parking yard etc, after completion of the project.

The Rental business in India is evolving, but issues such as market dominance by smaller players, shortage of trained operators and technicians are hampering growth.

Though we are seeing a trend of more and more companies moving towards rental equipment for their project execution, there are several issues that are impeding growth of the Rental Industry. There is, today, a large number of small rental players dominating the market, as compared to developed markets, where large rental players control a major share. Due to this, the equipment rental yield in India is much lower in comparison with the developed countries, and larger players are finding it tough to grow and sustain their business.

Apart from this, we have a shortage of skilled operators and technicians to operate and maintain the rental fleets. However, this can be addressed by OEMs extending support to train operators and technicians, which will also help in creating employment. In addition, delayed rental payments by the construction companies add to the operating cost of rental companies.

Industry bodies like CERA and the Cranes Rental Association can safeguard the interests of the rental companies and the contractors.

Rental associations like CERA and the Crane Rental Association are great initiatives to streamline the rental practices in India. They can take up issues affecting rental business with the relevant government authorities. They must also educate customers about the advantage rental companies bring to them, such as cost saving, by reducing the timeline of projects. They can take the initiative of standardising the rental rates, which should be mutually beneficial for rental companies and contractors, so that both can grow their businesses profitably.

Our equipment bank currently has more than 650 machines in operation.

Indiabulls Store One is one of the largest rental players in India operating pan India across many industries such as real estate, infrastructure, roads, cement and railways. Our fleet of equipment include Piling rigs, Excavators, Dozers, Motor Graders, Mobile Boom Placers, Transit Mixers, Wheel Loaders, Concrete Batching Plants, dumpers, Tower Cranes, Hoists, Gensets, work platforms and many more.

In the current financial year, we have added about 70 new equipment to our fleet; these are from reputed manufacturers and have the latest technology. In the near future, we have aggressive plans to add equipment in new categories such as aerial work platforms, telehandlers, milling machines, concrete pavers, higher capacity tower cranes, etc; and we will also update our current equipment category of wheel loaders, excavators, dumpers, etc.

We give both short- and long-term rental solutions, complete product support, and in addition, we also provide operating lease and finance lease to our customers.

We have operational set-ups in Mumbai, Gurgaon, Kolkata, Hyderabad, Bangalore, and Chennai, to cater to customer’s rental requirements. We provide complete project solutions to construction companies and work with them from the planning stage. We also procure new equipment as per specific project requirements of customers, and we deploy our experienced engineers, foremen, electricians and riggers at project sites. This enables customers to focus on their core business activities and leave the equipment operation activities to us. Our operations team operates and maintains equipment at some of the typical projects.

We are buying all the reputed brands of equipment and are getting excellent service support from the OEMs, who also provide additional warranty, annual maintenance packages and parts availability guarantees. All of this ensures that we can give higher uptime of our equipment to customers. Most of the OEMs have good product support coverage pan India, which is very essential for rental companies, as their equipment moves across regions and it is easier for them to procure parts for timely maintenance of machines.

We expect our equipment rental business to grow at the rate of 15 to 20% during the next 3 to 5 years.

This year, we have invested in acquiring new equipment in new categories, which has helped us add more new customers, diversify our rental product portfolio, and increase revenue. We have also set up a new regional office in Kolkata and Hyderabad, this year, to help us grow in these two regions.

Infrastructure spending, faster project execution, and implementation of RERA in the real estate segment, will be the growth drivers for the equipment rental business.
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