”We plan to become R500-cr company by March 2015′

WAPCOS Ltd, a mini-Ratna consultancy PSU under the Union ministry of water resources, has made its impression not only in India but also overseas. The company, which provides consultancy for water, power and infrastructure projects, has established a strong presence in Africa and Southeast Asia and now looking to enter the Latin American and Commonwealth of independent states (CIS) markets. Back home, the company is doing well despite tough competition from private players. It is currently a schedule B company but has its eyes on the schedule A status. The PSU had a turnover of R350 crore in 2010-11, which it expects to take to R500 crore by March 2015 to become eligible to get into the schedule ?A?. In an interview to Fe?s Noor Mohammad, WAPCOS chairman and managing director RK Gupta discusses his company?s business plans. Edited excerpts:

What are WAPCOS? core strengths?

We provide world-class consultancy services in all facets of water resources, power and infrastructure sectors in India and overseas. We derive our strength from our human resources, which is the backbone of the company. We have an in-built capability to provide multi-disciplinary project teams comprising of our own core group of professionals and specialists from various organisations of the GoI (government of India) and other state departments. WAPCOS has more than 600 highly qualified professionals who are backed by a dynamic and vibrant management.

In the area of water resources, we offer consultancy services for projects relating to irrigation, drainage, water management, groundwater exploration and minor irrigation, flood control and river morphology, water bodies and lakes conservation and agriculture, including dryland farming.

In the power sector, we provide consultancy for projects like hydroelectric and thermal power plants, transmission and distribution, and rural electrification schemes.

In the infrastructure sector, we advise on development of projects relating to water supply and sanitation, environmental engineering, ports and harbours and inland waterways, urban and rural areas development, system studies and information technology.

What types of consultancy services do you provide in these areas?

We offer services for work ranging from investigations to engineering designs. We also act as a project management consultant and provide services for projects from concept to commissioning. The services that we offer as a project management consultant are preparation of feasibility studies, survey and investigation, preparation of detailed project reports, designs and drawings, preparation of tender documents and bid evaluation.

WAPCOS has successfully implemented projects in countries like Afghanistan, Bangladesh, Bhutan and several African countries, besides India.

When did you take over as WAPCOS chief? What has been your focus?

I took the charge on September 1, 2009. Since then, we have sharpened focus on implementing projects on time and within cost estimates by making an optimum utilisation of our manpower.

How has WAPCOS? financial performance been in recent years?

Our turnover has increased to R350 crore in the financial year 2010-11 from the level of R205 crore in 2008-09. During the same period, our profits have increased from R22.45 crore to R55 crore. Our net-worth has gone up to R125.85 crore from R75.20 crore. The turnover per employee has increased from R14.87 lakh to R26.68 lakh.

The company has been able to manage its business operations from its own resources and has not taken loan or financial assistance from the GoI. It has been able to manage skilful utilisation of available human resources to match up with the job requirements. This has helped, given that our operations are dependent on expert manpower in the specialised technical fields of services. This is the company’s real asset and strength.

Do you have any strategy in place to maintain your competitiveness vis-?-vis private players?

We hold about 16% share of the domestic consultancy business. But private competition is growing fast. WAPCOS has to be competitive in terms of both quality and costs to stay in competition.

What is your company?s corporate vision?

We want to become the leader in consultancy business in areas like water resources, power and infrastructure. We also want to maintain our profitability and excellence in performance. We have moved up to mini-ratna 1 from the mini-ratna-2 status. Currently, WAPCOS is a schedule B company and we want to acquire schedule A status, for which we need to have minimum turnover of R500 crore. We hope to meet the eligibility criterion by March 2015.

What are WAPCOS? future plans?

We have a strong presence in Africa and Southeast Asia. Now we plan to enter the CIS and Latin American markets.