Healthy Competition Fuels The Culture Of Innovation
MD and CEO
With a career spanning over 25 years, Neeraj Bisaria, MD & CEO Premium Transmission is an accomplished business leader who specializes in turning business performance around and has offered his expertise on numerous crucial (international) projects and delivered outstanding results in the areas of operations management, profitability, M&A and strategy, often exceeding the industry benchmarks.
Having worked in a variety of challenging business scenarios, he has progressively developed a multitude of skill sets ranging from customer relationship management, business development to implementation of Six Sigma.
Attributing his professional success to a deep financial acumen, adeptness at building team, culture and passion for never-ending improvement, here in a short interview with Civil Engineering and Construction Review.
He holds a bachelor’s degree in Electrical Engineering from the Kamla Nehru Institute of Technology. He has also successfully completed Executive General Management Program from IIM, Bengaluru.
Civil Engineering and Construction Review: How has Premium Transmission worked towards becoming one of the most sought-after power transmission product manufacturers over the years?
Neeraj Bisaria: Since inception, we have been a customer focused company with innovation and technology as levers for growth. At Premium, we are constantly directing our efforts towards enhancing value for customers. We have specifically engineered products to meet various industries - not only in India but also for the overseas customers, which has led us to be first choice of the consumers across variety of sectors like power, steel, cement, oil and gas, paper and pulp etc.
What differentiates us from others is that we offer a broad and scalable product range and provide solutions tailored to consumers’ requirements.
We expect the market outlook to be quite favourable for us in the coming years owing to a lot of factors. One of the primary reasons for the same is our strong direct sales network across the world.
Presently, we are also looking to expand our aftermarket sales & services; we plan not only to cater to the domestic, but also the international market. In addition to the centre inaugurated in Pune, we have proposed centres in Coimbatore and Bhubaneshwar, and internationally the pipeline includes Bangladesh, Sri Lanka, Kenya and in Europe.
Service Centre of Premium Transmission
CE&CR: Considering the expansive after sale services you provide, how are the recent service centre in Pune and development centre in Kolkata coming along?
Neeraj Bisaria: Our sales and service provide real value for money to our customers. Despite of limited capacity, our sales has grown by 27% last year. Hugely uncaptured customer demand and technological advances have accelerated newer prospects for us. Increase in demand has led us to open a new service centre in Pune and we will continue the same with centres in Bhubaneshwar, Coimbatore and some other locations in India. As we are looking to expand our global footprint, we also have also proposed centres internationally.
Our state-of-the-art service centre in Pune is established with a focus on repairs and overhauling. The centre would contribute to existing spares sales, in addition to being an important source of revenue generation for Premium.
The development centre on the other hand, looks at product advancement and improvements and is an extension of our existing research and development capabilities.
CE&CR: Despite the demand, there is still quite a bit of stiff competition within the market, what has been your strategy to retain customers while adding new ones?
Neeraj Bisaria: Just like our customers, we also value competition as it enables us to keep a stringent focus on quality and delivery. A healthy competition ensures that the culture of innovation led technology stays alive.
Our Research and Development centres are equipped with a team of well qualified and experienced professionals to develop disruptive technologies for future. Our four cutting-edge manufacturing facilities are designed to effectively meet the requirements of our customers. We believe in holistic development across all fronts, which is why we are currently focussing on expanding our aftermarket services. We are constantly working towards reinventing ourselves to create the future we visualise – that is, to position the company as a pioneer in the industrial gearboxes, geared motors and fluid couplings segment.
CE&CR: In terms of overseas expansion, how do you differentiate yourself from other companies?
Neeraj Bisaria: At Premium, our focus has been on industry and customer specific customised products rather than supplying standard products, since standard products are most of the time either under or over designed to suit the application.
CE&CR: While entering the international business, what has been Premium Transmission’s plan of success?
Neeraj Bisaria: Premium is an innovation and technology driven company, our focus is to provide innovative and customer specific products, which in return deliver real value for money. This has led us to have a significant presence in Europe owing to our German operations. Further we are planning to enhance our presence in the Middle East, African and American markets.
CE&CR: How do you expect the Indian Market to shape up for power transmission this year?
Neeraj Bisaria: When we talk about India, internal demand cycle has been a major growth driver. Today, infrastructure development is booming in all the states of the country due to an upsurge in demand. A resulting increase in the purchasing power will unveil new horizons for developing more energy-efficient products for the market. Undoubtedly, the core sector in India will grow faster therefore I see good growth prospects for mechanical power transmission companies.
The needs of consumers today have evolved and have become more precise in their requirements steering a shift towards more energy-efficient and application-specific products. These products coupled with a growing demand for after-sales solutions are boosting the trends of the transmission industry. For further information,
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