Growth of SME sector in building, construction industry driven by thriving infrastructure, real estate sectors: IndiaMART Survey

NEW DELHI: The developing infrastructure and real estate sector are the key factors for the growth of SMEs in the building and construction industry. The strong investments from Centre and India Inc have been pushing the building equipment industry.

Reports state that there is good demand for the Indian equipments in the global markets and also which is responsible for the speedy progress of this sector.

IndiaMART Knowledge Services (IKS), which is an in-house unit of IndiaMART.com engaged in SME research, analysis, forecast and education, has conducted a survey amongst SMEs to identify their outlook of the industry.

The survey said that nearly 11.2 % of the respondents feel that the amount of last order bagged has been above Rs 50 lakh and 26.4% stated that they received orders in the range of Rs 5 lakh to Rs 10 lakh and 62.3% stated that they got orders worth below Rs 5 lakh.

Nearly 4.4% bagged order more than Rs 50 lakh on monthly basis, 3.3% received it quarterly, 2.5% received it weekly and just 1.1% received it yearly.

According to the IKS survey, most of the SMEs in building and construction sector are eyeing for the expansion of their business. 76.7% are mulling to raise their production capacity.