Srei BNP Paribas: The Pacesetter of Infrastructure Equipment Finance and Product Innovation Date:   Tuesday , November 24, 2015 Srei started its journey more than 25 years ago with a dream to build the country\'s infrastructure. Better roads, more ports, uninterrupted power supply and rural development were critical for India\'s economic growth and welfare of its citizens. The government did not have sufficient funds to finance the infrastructure development and the need for private investment in this space was more severe than ever. The journey began in a rather difficult and challenging environment. India was still a closed-economy and quality investments in infrastructure projects were unheard of. With Srei\'s incorporation, the wheel that never witnessed a movement started spinning. The introduction of Srei\'s pioneering equipment finance and rental services offered the industry a much needed boost. Following India\'s open-economy policy, the infrastructure market flourished and Srei led the way for other players in the market. Creating Innovative Paths Under the leadership of Hemant Kanoria and Sunil Kanoria Srei undertook the daunting task of contributing to India\'s infrastructure development. Srei formed a joint venture with BNP Paribas Lease Group in 2008 to create Srei Equipment Finance Limited (popularly known as Srei BNP Paribas), which quickly became the market bellwether in India. Devendra Kumar Vyas became the CEO of Srei BNP Paribas and transformed the market with his strenuous exertion and vision. The joint venture led to improved efficiency in processes, risk management practices and aided entry into new equipment business verticals. SREI now offers a range of financial products for construction and mining, information technology, healthcare and farm equipment. The company has also started financing pre-owned equipment. One of SREI initiatives \'Paison Ki Nilami\', an auction predicated on the lowest interest bidder to get finance became very popular and transmuted the entire game. Vyas explicates, \"We not only protected our market share, but were also able to cushion our people, manufacturers, and additionally our customers. In one evening of auction of financing the equipment, we were able to facilitate the sales of 100 pieces of equipment to the customers who used to come and bid for the financing and buy the equipment.\" The company follows two-step business approach: Asset-centric approach, where SREI partners with original equipment manufacturers to provide equipment to the first time users, small fleet owner and mid- sized contractors using dedicated dealer-relationship manager, and Customer-centric approach, where SREI understands the customer\'s large project-needs and then assists them with the project centric solution; here Srei takes a risk call on the project too along with the assets. Along with this, SREI has created a unique model of Entrepreneurial Partnerships; Srei Entrepreneurial Partners (SEPs). SEPs are small or medium scale entrepreneurs who source and collect for SREI and thus avail the entire platform of the equipment financing business. These SEPs are dedicated to SREI and culturally they are similar to an employee within the organisation. They also share SREI\'s gains like any other stakeholder. Creating Entrepreneurs While most of the companies follow open, red-tape or an employee oriented work-culture, SREI has adopted a unique entrepreneurial work-culture so that the team can understand an entrepreneur\'s pain in handling the infrastructure business and can address the exact quandary. Vyas says, \"We believe in entrepreneurship. In our organisation, we don\'t have sales manager or collection manager because we believe that we are into a business which is to be managed by the values of entrepreneurship and all our people and distributors are aligned to this ethos. So if any of our colleagues is giving equipment to the customer, then he should know the profitability, collection status, disbursement status, and what is the stress building in the portfolio. He should also know the equipment cash flows and be able to guide the customer in deployment, usage, maintenance and exit. That way, he should be able to manage portfolio developed and also have complete ownership towards it from a commercial perspective.\" Apart from aligning with the entrepreneurs, this unicorn-club member also follows innovation through hard-work, smart work, and performance driven approach while maintaining transparency. To train the incipient-joinees, SREI has developed an institution designated as LeaD Srei (LeaD - Leadership and Entrepreneurship Development). LeaD Srei identifies potential in people within the team through several tests and programs. Additionally, it engenders part-time training for them, both functional and behavioral. At the terminus of the program, trainees are rewarded with certificates. Besides leadership training, SREI also has technical training that everyone is a part of. Additionally LeaD Srei has also partnered with Indian School of Business to enable the senior management with program on Innovation and other important EDPs. Prospecting New Horizons Indian infrastructure industry, which is elevating with thousands of projects coming through governmental support, is the most expeditious growing market after China. With offices in more than 86 locations and a nationwide reach SREI has demonstrated its strength surviving through two of the most challenging economic slowdowns and multiple market cycles. The year-on-year growth in its profitability is a testimony to this. SREI has been serving the nation orchestrating growth in the Infra, IT, healthcare, farm and pre-owned equipment finance space. Vyas culminates, \"There is no need to go to another country when India itself is an immense opportunity. We will perpetuate to grow in the Infra-equipment space, and also grow rapidly in financing of IT, Medical, Farm and Pre-Owned equipment.\" SREIis amongst the very few to join the unicorn-club from the City of Joy. Srei\'s receiving awards from a reputed publication for being the most expeditious growing company and from a giant manufacturer for being the best financing company are just feathers to its cap. With the speed it has grown and the milestones it has crossed, Srei has an effulgent future in prospect to shape and make India proud. Panel Key Management: Devendra Kumar Vyas, CEO, Srei BNP Paribas Devendra Kumar Vyas is a qualified Chartered Accountant and has been with Srei with more than 17 years. He spearheads Srei BNP Paribas and has been associated with the JV from the beginning. Before joining Srei, he was one of the partners of the G.P. Agarwal and Company. His leadership traits, experience, process orientation and extraordinary vision, have propelled Srei\'s glory. Services: Infrastructure Equipment Finance, IT Equipment Finance, Healthcare Equipment Finance, Rural Equipment Finance, and Used Equipment Finance