Parametric Technology (India) Private Limited (PTIPL), a subsidiary of the US-based $1.07 billion Parametric Technology Corporation, is looking at tapping the aerospace, defence and heavy engineering segment in India this fiscal after gaining a stronghold in the automotive sector.
PTIPL is essentially a product lifestyle managment (PLM) and content management provider pioneering in Computer Aided Design (CAD), Computer Aided Manufacturing (CAM) software solutions meant for any kind of manufacturing industry-automotive, aerospace, heavy engineering and so on.
Speaking to Business Standard, Rohit Biddappa, senior manager-marketing, PTIPL said, “We have always focussed on automotive sector and it has been a major revenue earner and growth driver for PTC in India. But we see huge opportunity in other manufacturing sectors like aerospace, defence, shipbuilding and aviation industry which will become major drivers for growth in the Indian economy this fiscal.”
The company had identified India and China as the emerging markets with a special focus on aerospace and defence.
Mazagon Dock Limited which is India's premier shipyard constructing warships have also placed some orders, he added.
Some of the biggest clients of PTIPL in the automotive sector are Tata Motors, TVS, Bajaj Auto, while in the heavy engineering sector companies like Ashok Leyland, Royal Enfield, Kiroloskar Brothers are some of its customers.
With three premier products Pro Engineer, Arbortext and Windchill in the offering, PTC achieved a sales turnover of $1.07 billion worldwide last fiscal, ending September 2008, with a growth rate of 15 per cent over the same period last year.
For the year ending September 2009, in the wake of the downturn, PTC has reduced its revenue target by 10 per cent worldwide. However, in India, we still hope to maintain the 30 per cent year-on-year growth rate, said Biddappa.
The customer base in India has also trebled over the last four years from less than 700 in 2005 to over 2,500 customers now.
PTIPL has one pan-India distributor and is actively scouting for more distributors for the eastern and north eastern markets where it does not have much of a presence.
PTPIL’s major market lies in the Western belt.The bulk of its business comes from Maharashtra, Gujarat, Ahmedabad, Rajkot followed by the NCR region and southern states of Karnataka, Kochi, Kozhikode where the automotive sector has flourished with many leading companies like Ford, Hyundai, Tata Motors setting up manufacturing facilities.
PTPIL currently enjoys a 30 per cent market share in the country.
