With a keen understanding and knowledge of the ceramic technology Murali Yadama was equipped to identify and tap the opportunity to sell building materials in the Indian market. He started MYK LATICRETE from scratch with a five member team working closely with architects, designers and engineers to provide innovative solutions for the tile & stone market. Today, the company has grown into a family of 800+ members, serving the Indian subcontinent as market leaders.
In conversation with Sapna Srivastava, Editor, Realty+, Murali Yadama shares his thoughts about the company and the industry.
WHAT HAVE BEEN THE KEY DIFFERENTIATIONS CREATED BY THE COMPANY IN THE INDUSTRY?
Generations of masons and builders in India have stuck to tried and tested practices without wanting to take a risk with new methodologies. In a market entrenched in traditional practises of construction, to educate and convince builders to upgrade their practices and spend more on radically new products was a daunting challenge.
MYK LATICRETE took on the mantle of a crusader and soon turned sceptics into believers by demonstrating the superiority of its products. Today, MYK LATICRETE is an acknowledged leader in the domain of building materials and has been credited with pioneering several products that are creating a sea change in age-old construction practices and techniques.
Driven by a strong sense of purpose, and a relentless quest for quality, it has built itself an enviable reputation in the tile & stone installation materials industry. To create a future-forward product portfolio, the company has invested in state-of-the-art manufacturing facilities and an advanced R&D Centre which supports the needs of Indian and global markets.
WHICH ARE SOME OF THE LATEST INNOVATIVE PRODUCTS OFFERED BY THE COMPANY?
In tile & stone installation materials sector, the need for greener materials has become compelling. As a leading player in this industry, we are spearheading the movement for eco-friendly material in the tile adhesive and grout category by ushering in global practises into India.
To address the challenge of exhaustive and polluting materials, the government is promoting sustainable, energy-efficient and environmentally feasible building materials. This is where MYK LATICRETE scores an advantage with its mission to bring technology close to the customer by developing innovative, cost-effective, user and eco-friendly products for tile and stone installation.
WHAT WERE THE INITIATIVES TAKEN BY THE COMPANY DURING THE PANDEMIC?
Amid the COVID-19 crisis the company has utilised digital medium to stay in touch with customers and serve their needs. We have been conducting series of webinars for architects, builders, engineers on various topics related to tile & stone installation systems and training programs for masons & contractors to upgrade their skills. This fresh way of staying connected with customers has also allowed us to understand their requirements better and support them in faster manner. During the COVID period we also undertook CSR initiatives to support masons community who were under stress as there was less or nil work availability
WITH GOVERNMENT EMPHASIS ON INFRA & HOUSING HOW DO YOU FORESEE THE GROWTH OF CONSTRUCTION SECTOR?
The infrastructure sector is the backbone of the overall economic development of India. It is expected to contribute significantly to the economy and navigate India into becoming the largest construction market globally. The bourgeoning Indian construction and building material industry is predicted for a record growth.
What looks promising is the launch of ambitious building schemes by the Indian Government including industrial parks and corridors, Smart Cities and phase-focused development across roads, railways, ports, airports as well as metro and monorail projects.
The Indian tile adhesive market is segmented into residential, commercial, and institutional. The residential segment is all set to dominate the market due to rapid urbanisation and flourishing housing construction activities. This growth is also attributed to the increasing consumption of tiles.
Due to escalating disposable incomes and standards of living in India, there is a huge demand for decorative tiles for flooring, wall coverings and countertops. MYK LATICRETE tile adhesives and tile grouts play a vital role in maintaining the aesthetic appeal of these tiles as well as allows hassle-free application and long-term resilience.
WHAT ARE THE FUTURE EXPANSION PLANS OF THE COMPANY?
Plan is to create long-term future for the brand. To make this company “One Group of People”, “One Life Time”, and “One Brand”. I would like to create a highly professional & transparent organization that everyone, from our customers, shareholders and employees would like to engage with and cherish the relationship built.
As a leader, I would, continue to fund the journey that has started by increasing the capital efficiency while reducing the costs. Develop and Pursue the strategic direction by broadening initiatives for both medium and long term ground work that has been laid with a clear vision and solid objectives, to meet the goals of the enterprise.
THE INDUSTRY THAT WE OPERATE IN IS POISED TO DOUBLE IN VALUE TERMS IN NEXT THREE YEARS. THE ORGANIZATION IS DESTINED TO BECOME MORE AGILE TO MEET THE UNMET NEEDS OF THE MARKET , WHILE FOCUSING ON INCREASING MARKET SHARE WITH A HEALTHY VALUE CAPTURE, DIGITIZATION AND SMARTER PRODUCT PORTFOLIO MANAGEMENT THAT WILL HELP ACHIEVE ROBUST PROFITABILITY.
