Paschal Form Work (India) Limited, which is into manufacturing of concrete formwork and support systems used in construction sites, is expecting a turnover of Rs 100 crore in the current year on the back of its newly launched e-deck product.
Paschal Form a joint venture between Germany’s Paschal and Hyderabad-based NCC Limited.
Speaking at the launch of their new product, a panel slab formwork used for ceiling construction, on Friday, Udo Vetter, chairman of Paschal, said e-deck formwork would save 50 per cent of the construction time, providing huge cost benefit to the developers.
As the company’s first product, a formwork used for wall construction, did not receive enough patronage owing to the construction practices followed in Indian conditions, the company launched this e-deck panel formwork, which is used for laying slab structures, according to Vetter.
The company’s manufacturing facility has a capacity to produce 50,000 sft wall and 15,000 sft ceiling support systems annually and has enough space to expand as the business grows, he said.
V Radha Krishna, director (Projects), NCC Limited, which holds 26 per cent equity in the joint venture, said they had got orders worth the entire capacity. The company has so far invested Rs 30 crore in the manufacturing facility.
e-deck is a new steel panel system for slabs developed by the German company’s research department in association with Indian engineers. It, however, costs three times more than the traditional system.