Sakshi Resources To Expand Business In Key Markets To Sustain 20% Growth

(MENAFN- Khaleej Times) Sakshi Resources has laid down a solid foundation in the major markets of Asia and Europe and is confident of sustaining 20 per cent year-on-year growth in the next five years.

Rijul Sankhla, co-founder and managing director of Sakshi Resources, mentioned that the company was established with a motive to provide supreme solutions for all the complex urban and industrial infrastructure projects. He mentioned that Sakshi Resources shall expand its presence in key growth markets to achieve its targets in next five years.

"We are confident to achieve success in key growth markets such as the UK and the MENA region after achieving success in India. We have sufficient funds to execute new projects in the UK and the MENA region" Sankhla told Khaleej Times during the interview.

Sakshi Resources works as a non-government company. It was established in 2013 to deliver projects on time using the latest infrastructure technologies and world-class management techniques. As one of the fastest-growing infrastructure companies, Sakshi Resources provides best services in mining, marine engineering, civil construction, electrical engineering, road engineering/slip-form paving and concrete manufacturing from the past decade.

Sankhla has played an instrumental role in promoting the business, discusses the company's journey, future plans and policy matters regarding the adoption of industry best practices and technologies to retain clients and sustain strong double-digit growth in the years to come.

"We have started our journey a decade back and initially focused only on the EPC and building material business. Later on, we expanded to petrochemicals, aviation and real estate with a strong presence in the UK, MENA and Asia Pacific region" he mentioned.

"We are expanding our presence in key markets across the Europe through our UK office and receiving encouraging results that will help achieve our goals" he added.

Sankhla mentioned that the company has experienced significant growth over the past five years, securing 51 major projects, with 21 currently under execution in key markets across Europe, Asia and the MENA region.

"We set up the Middle East Division in 2019 to focus on the region's growing market and allocated a budget of Dh257 million for investment in the region by 2029. We have invested close to Dh168 million or 65 per cent of the budget during the last financial year" he said.

Furthermore, he said that Sakshi Resources still has 35 per cent of its allocated budget readily available for investment and is continuously exploring the best opportunities available in the industry. "The Middle East region in general, and the UAE in particular, have demonstrated a remarkable growth climate in recent years. We are confident in achieving success in key growth markets such as the UK, the UAE and the Gulf region after our success in India. We have sufficient funds to execute new projects in both the UK and the UAE."

"The Middle East region, in general, and the UAE in particular, has started a wonderful performance in the recent years. It is my humble opinion that the level of ease of doing business provided by the UAE government is unmatched globally" he said.

Sankhla, an emerging figure, stated that Sakshi Resources has launched its operations in Europe through its UK office, with a primary focus on marine engineering in the region, whilst the Hong Kong office oversees the company's commodities business.

"We are confident of significant growth in all business verticals based in Asia, Europe and the MENA region in the coming years. We expect close to 20 per cent year-on-year growth by 2029" he said while referring to the audit conducted by KPMG.

To a question about the company's approach towards project financing, he answered Sakshi Resources follows a business model that is not dependent on external borrowing. They prefer to optimize their internal financing by reinvesting profits to avoid unwanted delays while maximising efficiency in all business verticals. "We seek internal financing as the primary source to fund the operations. We prefer to limit our long-term external financing, however we very much appreciate our banking partners such as the Emirates NBD Bank, First Abu Dhabi Bank and Canara Bank Limited, amongst others, as without their support it would have been difficult to follow our aspirations" he mentioned.

About the company's best construction practices and technologies, he mentioned Sakshi Resources always adopts the best available solutions in the market.

"We always adopt the measures in line with the best international practices, adhering to the ISO 27001 certification guidelines. Most of our senior technical staff are highly qualified with extensive experience in dealing with the compliance and industry best practices as they have held positions in various public sector enterprises in the past. Our exclusive partnership with Schwing Stetter also ensures that top-quality equipment is deployed and operated with utmost efficiency ensuring optimal operations" he mentioned.

Sankhla, holding degrees in Finance, Financial Law and business management from the University of London, understands that competition and challenges are inherent aspects of business, and his company is resilient enough to endure difficult situations.

"We have successfully overcome many challenges since the inception of the company in 2013. I would like to highlight a particularly difficult period when the company was experiencing rapid growth during 2018-19, however the financial markets were not supportive towards the infrastructure industry and soon after we were hit with the pandemic however as 60% of our operations fell under the criteria of "essentials services" we were able to focus on and optimize those operations and successfully sail through turbulent waters." he added.

When asked about the Unique Selling Proposition (USP) of the company, he explained that Sakshi Resources distinguishes itself by offering its products and services at highly competitive prices, thereby maintaining a reasonable margin. This strategy not only ensures affordability for customers but also facilitates the expansion of the company's market share. By prioritizing competitive pricing, Sakshi Resources aims to attract more customers and establish itself as a preferred choice in the industry. This approach reflects the company's commitment to delivering value to its clients while simultaneously driving growth and profitability.

"When it comes to business, we prioritize value creation over pure financial gain, opting for what some may refer to as a non-traditional approach. Through hard work and determination, we endeavor to surpass our targets," concluded Mr. Sankhla.

Rijul Sankhla is the son of the late Dr Rajesh Sankhla, the founder of Sakshi Resources. He specialised in finance and financial law at the University of London. His innovative ideas and global vision have set Sakshi Resources on the path to becoming one of the foremost companies in its industry. With his broad vision and ambition, he is poised to elevate Sakshi Resources to global recognition.

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