- SERAPHINA D’SOUZA
Last September, Vector Projects (India), a leading turnkey interior solutions provider in residential and commercial spaces, merged with Uniply Industries, a manufacturer of plywood, laminates and related products, striking a first-of-its kind deal in India. The Rs 64.12-crore deal made Vector Projects a wholly owned subsidiary of Uniply Industries.
Not surprisingly, this has further expanded opportunities for both Uniply and Vector Projects by integrating into an end-to-end building solutions provider as well as creating a single large entity that potentially doubles their business size.
With branches across India along with 350 architects, engineers and interior designers, Vector is among the few organised players in the turnkey solutions business. In its journey of over 15 years, Vector boasts of full service capabilities ranging from architectural designs to complete interior fit-outs, including modular workstations and chairs. And now, Uniply Industries will continue to support Vector Projects’ business growth in providing turnkey interior solutions.
Indeed, with a successful journey of over 15 years, Vector Projects is ready to enter the second phase of its business. And, in the near future, it plans to expand into residential interiors and e-commerce as well.
“One of our immediate plans is to expand our existing manufacturing facility.”
- Umesh Rao, Founder and CEO, Vector Projects (India)
With the company ready to enter the second phase of its business, Umesh Rao, Founder and CEO, Vector Projects (India), shares the strategy behind this acquisition and future plans.
Benefits to Vector now being wholly owned by Uniply: “This association expands opportunities for both Uniply and Vector by bringing together building materials and solutions providers. So, it brings together a commodity and service provider and, jointly, we aspire to create a formidable entity in the interior and fit-out sector. For Vector Projects, it is a backward integration ensuring quality of raw materials used in our projects. Through the association, Vector also gets access to Uniply’s wide network of dealers, which stands to aid our expansion plans. We also get on board management expertise, strategic brilliance and enthusiasm, which we very much look forward to.”
Expansion into residential interiors: “One of our immediate plans is to expand our existing manufacturing facility. This will increase our capacity minimum threefold and will enable us to make tailor-made furniture for homes with a greater turnaround time while maintaining consistency and quality. We are certain that this asset will help us deliver homes at a faster pace. We also plan to tie up with small scale entrepreneurs and architects with expertise in residential interiors, which will also give the required impetus to our residential interior wing.”
Plans for the company going forward: “We plan to expand the bandwidth of our existing manufacturing facility. This will help us maintain consistency and timeliness in project delivery. We also plan to set up similar manufacturing facilities in the northern and southern regions of India. Further, we plan to set up more experience centres (similar to Vector House, Mumbai) across India, which will allow us to showcase the Vector experience to a wider audience.”