Thanks to you and @Pradeep_Chitluri for the detailed posts and giving us an industry perspective! I have a question to you/Pradeep regarding your observation on limited TAM for both businesses. While management acknowledged that BIW MES would start hitting a ceiling beyond 15mn $ of topline, management was quite confident that civil engineering services outsourcing had a large TAM and a long runway. My questions are:
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Is civil engineering services outsourcing from USA to countries like India/Mexico/Romania/Indonesia a new trend or has it existed for a long time? If its new and growing, then what is driving it? Have Indian firms levelled up in terms of delivery quality to now get a share of the pie? Management seemed to indicate Romanian/Filipino/Indonesian firms have been in this space before India but India has a cost advantage over these countries.
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As per management, they are the largest listed player in civil engineering services and while there are 5-6 detailing players in the unlisted space, only one of them is as big as MoldTek. Can you throw some light on their competitors in this space – both Indian and Romanian/Indonesian/Mexican if any? Such few competitors being present could either mean the pie is small or MoldTek is early. Which one is it?
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