Revealing company's ambitious plans, he added, "Our equipment are the need of the hour for the construction of high-rise buildings, power plants, ports, refineries, metro rails and other big ticket ongoing construction projects on across the country. In fact, we are on a mission to give a renewed thrust by way of making the sites of high rises more mechanized and automated ensuring lesser time and cost of construction to execute the projects, apart from assigning top priority to the safety of equipment users. Actually the sector offers huge business opportunities as currently merely 10% of the infrastructure development activities in India have been automated and prevailing practice is a waste of substantial amount of time, energy and cost, besides exposing the workers to serious health hazards. A large fleet of our equipment is currently engaged in various big ticket infrastructure and construction projects including Oil Refineries in Gujarat, Airport construction in Delhi & Bangalore, hydro electric power plants, Delhi Metro Rail Corporation (DMRC) and scores of other projects where our concrete pumping machines are doing brisk business. In addition, the company is also getting an encouraging feedback about the performance and functioning of our equipment and this has again encouraged us to make more investment to expand our operations across the country."
Elaborating on the localization, he revealed that the company is giving more thrust to manufacture equipment and components locally for which we have set up a our state-of-the-art manufacturing facility in Goa to manufacture a wide range of concrete pumps, related accessories, among others. We convert manpower to horsepower to carry concrete to towering heights. Over a period of time, the application of our products and services has really changed the way the concrete is placed on important projects not just in India but also in other foreign countries. Ever since its entry into Indian market in 2007 company has invested €50 million in its Indian operations and has drawn up an ambitious plan to further invest €5 million to expand our manufacturing facility in Goa.
Dwelling on the sales scenario he said that in view of the encouraging feedback the PM is further strengthening its sales and services network. Our sales is currently going up at a spectacular pace of 100% per annum and by the end of next year our revenues are set to touch Rs.500 crore and by 2014 it will cross Rs.1,000 crore mark. PM is all set to strengthen its position in India through manufacturing new products and rendering more effective technical and marketing services to maintain its leadership position. The company has countrywide network of service and spare parts availability and we are further expanding our service and sales network from the current 100 to nearly 200 by the end of this year.
In his concluding remarks, Mr. Lindenmayer said, "India is the start of another glorious chapter for the PM and this gives me immense satisfaction to be able to make our contribution to the progressive and dynamic economy of India. We believe that it is yet another step in the direction of furthering and strengthening Indo-German relations, which have always been remained cordial in every sphere, whether it be India’s culture, language, ideologies and practices; there is more than one thing that encourages mutual admiration and Putzmeister’s expansion is exactly in pursuit of the same."