Rajeev Goel, COO, Kinetic Escalator & Elevator Limited

06 October 2004

Rajeev Goel, COO, Kinetic Escalator & Elevator Limited, talks to V Jagannathan on his company's launch of multilevel auto parking systems

Multi level auto parking systems are a new concept in India, says Rajeev Goel, chief operating officer, Kinetic Escalator & Elevator Limited. It costs around Rs9.3 lakh at Rs2,500 per sq.ft to provide a 375 parking space for each car. "We are now selling a concept in the minds of real estate promoters," says Goel and adds, " It may take a couple of years for an order to materialise from a prospect."

Part of the Pune-based two wheeler Kinetic group, the company sells car parking shelves under the brand K Park in collaborating with Korea's Shin Shin Company Limited. Kinetic Escalators has installed automated parking systems, four in Mumbai and one each in Jaipur and Bangalore, with the size ranging from nine to 104 pallets at each installation. Apart from these mechanised parking systems, Kinetic Escalators & Elevators also installs and maintains the Hyundai brand of elevators and escalators in India.

According to the company's assessment, Mumbai, Bangalore, Delhi, Kolkata, Hyderabad, Chennai, Ahmedabad, Surat and Cochin have market potential," says Goel in an interview with domain-b. Excerpts:

What challenges do you face while marketing this concept?
Creating awareness about the product itself is a challenge. The big challenge is to convince the promoters of a building about the opportunity cost-loss in not being able to realise the target price of the built up area due to a lack of parking capacity. There will be a delay in actually bagging orders from the time that we pitch for a project. It may range from anything between a few months to a couple of years from the time a builder incorporates our system in his plan.