BUILDING A WAY OUT OF THE COVID CONSTRUCTION TRAP

BUILDING A WAY OUT OF THE COVID CONSTRUCTION TRAP

BUILDING A WAY OUT OF THE COVID CONSTRUCTION TRAP

On the 10th Anniversary of public listing of VA Tech WABAG Ltd.,

Mr Rajiv Mittal, MD and Group CEO

with an exclusive interview with the Global Water Intelligence,

outlining the strategies to take India’s Largest Water EPC back to the top.

Wabag outlines post-COVID company revitalisation India’s largest water specialist is looking to beat the global construction slump. Armed with new equity backers, it is hoping an asset-light approach will see share prices recover. I ndia’s largest water EPC contractor, VA Tech Wabag, is heralding a return to prepandemic performance levels as it celebrates ten years as a publicly listed company this month, in the middle of a global pandemic that has severely hit water construction work around the globe. However, with the shares still trading well below the peaks seen just a few years ago, the company is still in sore need of a financial rethink. Following the completion of a key fundraising move this month, Wabag managing director and CEO Rajiv Mittal sat down with GWI to talk about the company’s new strategy for the next 2-3 years, in which it aims to focus on its core business, reduce construction exposure, and shore up cashflow. “In the first place, we remain with our core,” Mittal explained to GWI. “We have been and will always continue to be a pure-play water technology company. Second, we will continue to have our focus on developing markets. And third, we will improve and increase our focus on the industrial and O&M business. That would mean less construction and more engineering technology. So, we plan to be an asset-light, knowledge-based business rather than a hardcore construction business.” 

See complete interview attached