An exclusive interview with Vikas Mittal, a dynamic second-generation entrepreneur & Managing Director of NOVA Formworks
Vikas Mittal, a dynamic second-generation entrepreneur, has dedicated two decades to reshaping the landscape of plastic manufacturing. As the Managing Director of NOVA Formworks, he has not only overseen manufacturing operations but has also been a trailblazer in the realm of plastic molded furniture, introducing innovative products that have garnered attention and acclaim.
Vikas Mittal’s journey exemplifies visionary leadership, characterized by a commitment to excellence and a relentless pursuit of innovation. In 2011, he propelled the industry forward with the launch of the Nova plastic formwork system, a revolutionary development in the construction sector.
His strategic foresight and dedication to pushing boundaries have positioned NOVA Formworks as a key player in the industry, poised for global expansion.
Can you tell us about your background and how you became involved in the construction industry, particularly in the field of formwork systems?
Vikas Mittal: I have a background in plastic manufacturing, stemming from my time spent around my father’s plastic manufacturing business in Bengaluru. In the ’90s, I joined my father’s company, where we diversified into plastic compounding & molded furniture. Eager to explore the use of plastic in construction, I founded Nova Formworks Pvt Ltd, aiming to address the shortcomings of traditional formwork systems made with plywood and steel.
What inspired you to establish NOVA Formworks, and what is the company’s mission in the construction industry?
Vikas Mittal: Observing the inefficiencies and high labor costs associated with steel and plywood formworks, I was inspired to introduce plastic formworks to simplify the construction process. Nova Formworks’ mission is to revolutionize construction by offering innovative and durable plastic formwork solutions that are easy to use, cost-effective, and environmentally friendly.
NOVA Formworks is known for its cutting-edge construction engineering. Could you elaborate on the innovative features of your Plastic Modular Formwork Systems?
Vikas Mittal: Our Plastic Modular Formwork Systems stand out due to their secure locking mechanism, patented in 2011 after extensive research and redesigning. This ensures leak-free construction and the lightweight design allows for easy assembly and removal, akin to building with Lego blocks.
The formwork is highly durable, addressing the limitations of earlier plastic ply offerings, and making it a game-changer in the industry.
How has the introduction of plastic formwork systems by NOVA impacted the construction industry, both in terms of speed and quality of construction?
Vikas Mittal: The introduction of plastic formwork systems by NOVA has significantly improved the speed and quality of construction. The lightweight and easily assembled nature of our formwork reduces the overall labor force required for a project. Moreover, the secure locking mechanism ensures leak-free construction, enhancing the quality of the structures built.
What challenges did you face while introducing plastic formwork systems, and how did NOVA overcome them?
Vikas Mittal: Initially, there was hesitancy among contractors and builders to adopt plastic formwork, especially during the real estate slowdown in 2013-14. However, collaborating with larger companies and demonstrating the effectiveness of our products, especially during the recent labor shortages induced by the pandemic, helped overcome these challenges and gain market acceptance.
Can you share any initiatives or features that showcase the eco-friendly aspects of NOVA Formworks’ solutions?
Vikas Mittal: Despite plastic’s reputation, our formworks stand out for their reusability. One customer reported using our product up to 400 times, emphasizing its sustainability. Nova Formworks also offers a 25% replacement value, encouraging the return of used panels for recycling. This, coupled with the significantly higher repetition rate compared to traditional materials, makes our solutions the most environmentally friendly.
How do you see the future trends in formwork systems evolving, especially with advancements in construction technologies?
Vikas Mittal: With advancements in construction technologies, formwork systems are likely to become more modular, efficient, and environmentally sustainable. Integration with digital technologies for better design and monitoring is also expected. Nova Formworks aims to stay at the forefront of these trends, consistently innovating and adapting to the evolving needs of the construction industry.
Where do you see NOVA Formworks in the next five years? Are there specific goals or milestones that the company is working towards?
Vikas Mittal: In the next five years, NOVA Formworks envisions continued growth and expansion, both nationally and internationally. We aim to be a leader in providing cutting-edge and environmentally friendly formwork solutions. Our goals include further penetrating international markets and contributing to major infrastructure projects while maintaining our commitment to innovation and sustainability.
What are your success tips for young and aspiring entrepreneurs?
Vikas Mittal: My advice for young and aspiring entrepreneurs is to remain resilient in the face of challenges, stay open to innovation, and surround yourself with a team that shares your vision. Learning from experiences, being adaptable, and continuously seeking ways to improve and differentiate your products or services is crucial for long-term success.
In the ever-evolving world of plastic manufacturing, Vikas Kumar Mittal stands as a testament to the transformative power of visionary leadership. With an illustrious career spanning two decades, Vikas has not only overseen manufacturing processes but has also been at the forefront of introducing groundbreaking products.
The launch of the Nova plastic formwork system in 2011 marked a pivotal moment, showcasing Vikas’s capacity to innovate and redefine industry standards. Looking ahead, his ambitious mission to expand NOVA Formworks globally, with a goal of a presence in at least 30 countries, underscores his unwavering commitment to driving positive change on a global scale.
Vikas Mittal’s legacy is one of innovation, resilience, and a relentless pursuit of excellence, setting a formidable standard for the future of plastic manufacturing.
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