We met the management of VA Tech Wabag (Wabag) to get an insight into the business model and future plans. Wabag is a leading MNC in the water treatment space (water desalination, sewage water treatment, waste water treatment, etc), which operates on an asset light-EPC led model in water treatment projects across municipal and industrial segments, where they focus on design and engineering while outsourcing civil construction and erection jobs. The company has a global presence and about 100 patents, which include both products and process patents. The company’s reported revenue increased 39.2% YoY to Rs. 2,230 crore in FY14 (domestic – 51% & overseas – 49%) and PAT of Rs. 113 crore.