NITIN AGGARWAL, DIRECTOR, PRAYAG EXIM INDIA LTD TALKS TO JAYANT MUNDHRA ON HOW THE COMPANY MANAGED THE TRANSITION FROM AN UNKNOWN ENTITY TO A STRONG CONTENDER
 
Over the past few decades, Prayag Exim India Ltd has made a name for itself through innovations like PTMT SYMET Bath Assets, and more recently, the H2O range of chrome plated fittings. Director Nitin Aggrawal talks to 4Ps B&M about the company’s endeavours to succeed in a highly unorganised market.

How have the market trends changed since you took over this business?
Since the time I am in this market, I have seen a very positive change from the last 3 years; especially in the sanitaryware market. But in India, 75% of the market is still unorganized in nature where there is no commitment at all and the shopkeepers are selling products like anything on their own profits. The customer is buying on the basis of trust but day by day, people have started believing in the brands. So companies are able to sell their products.

How does this reflect in your performance?
In the last 3 years, the company has grown up to 3 folds with broadly four different product categories – bath fittings, kitchen stainless steel sets, seat covers and stainless steel faucets, launched first in India by us for niche and premium market (places where the water quality is very hard and more chemicals are found in it) with a very natural finish of the product.

Does it mean that the selling of these products has become relatively smoother?
The business is never that smooth for anyone, but one fact is that customers are turning more educated and their trust is growing more on the branded products.

What is it that provides Prayag a source of competitive advantage?
The strongest factors that we believe our products have are the quality and the commitment for further reliability of our business. For instance, earlier there were many departments under government heads. People who used to avail of government flats and houses contacted the company because they use only such products which are reliable to them with no hazards and no maintenance. On this basis, they used only such products which they believed to be “tension free”.

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Source : IIPM Editorial, 2011.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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10/08/2011 3:02am

Success and recognition cannot be achieved in days. Time is a factor which helps people to establish themselves and make them understand the changing trends and demand of people. Today industrialization is at its peak and companies are changing themselves and stretching their arms to position themselves in much better way. Prayag, (bathroom fitting company) ISO certified company has entered into International market and to position itself in the market the company has changed its name and logo from India Prayag to Prayag.

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10/08/2011 3:08am

Prayag,ISO certified,has entered into International market and to position there in the market the company has changed its name from India Prayag to Prayag.

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