News

Optimizing Space, Construction Business Today – 31-DEC-11

Feature on Parking Systems

Our Director Sundar Ranganathan interviewed in Construction Business Today, December 2011. Excerpts from this interview are as follows:

Demand for parking systems

Sundar Ranganathan observes that demand for parking systems coincides with construction of large malls, IT campuses, commercial spaces and apartments. He however says that though there are many international players who have entered India directly or through dealers, with advanced technologies to meet the demand, they are expensive, and customizing to Indian conditions requires considerable efforts. Thus there is a supply gap – this could be effectively filled by companies like us with own indigenous technologies.

Looking Ahead

Ranganathan observes that new developers do not hesitate to explore latest solutions such as puzzle parking. Existing property owners first look at improving the parking management process – including better charging mechanism, reducing revenue leakage, ensuring safety within the parking lot and so on. Once they reach a level of better management, they start looking at enhancing customer experience, such as implementing Intelligent Parking Guidance Systems.

Growth of parking technology business

Ranganathan observes that significant growth can be expected over the next five years. The rate of growth of parking technology business would be in line with the rate of growth of large format buildings.