Pioneering ‘make to order’ formwork

“We will continue to improve our products and make them affordable,” says Ketan Shah, Managing Director, MFE Formwork Technology India Pvt. Ltd.
 Residential projects in India are on the boom with the growth in construction sector, thus providing scope for formwork solutions. In an interview with ACE Update, Ketan Shah discusses how the growth will add value and demand to aluminium formwork construction systems in the country.
Construction prospectsConsidering the ambitious target of home for all by 2020 by the present government, construction industry can grow twice the rate from here in the next 5 years. Although, it is difficult to guess the percentage, there will be substantial growth for the infrastructure industry because the government is determined to improve the current scenario in the construction and infrastructure sector.
Adding growth to MFE FormworkThe growth in the construction sector will have a positive impact on the industry which is directly related to residential segment of construction industry. Currently, there is a trend of using aluminium formwork for residential projects which will add to MFE’s growth as a company.
X-FactorsThe factors that will cater to the growth will ease government policies as well as increase income. In turn, this will generate huge demand for housing industry. Also, entry of reputed corporate like Tata, Mahindra and Godrej in the real estate sector on a mega scale will make the industry transparent. Their aim will be to provide affordable housing across India. The government is also planning to permit REITs (Real Estate Investment Trusts), which will provide capital to real estate developers as well as give an opportunity to people to invest in real estate with limited funds. Implementation of these factors will help in boosting the construction and infrastructure market.
MFE and formwork segmentMFE is a premium brand in “make to order” formwork category. It is also the largest formwork selling company in this particular category. Its aim is to retain this position. It is aiming 20 per cent year-on-year growth for the next 5 years. Also, MFE will continue to improve its products and make them affordable.
MFE and competitorsMFE provides superior quality and excellent technical support which differentiates it from other companies in the market. MFE is using “stir friction welding” technology which is used in premium industries like aviation, ship building, and oil and gas. Its tolerance while manufacturing panels are +/- 0.5 mm which is probably most stringent in the industry.