Security for home and commercial buildings are a major concern for stake holders. In the pre-liberalisation era, security meant having security guards posted at home and electronic security systems were either the hobby of amateurs or were simply not available to the requirements.
In the early nineties when some players started importing electronic security systems but with no after sales service, Mr Maqsood Shaikh, an electronics-telecom engineer with an entrepreneurial streak, thought of venturing into this virgin market. He was previously associated Global Telesystems Ltd and was instrumental in launching fax machines in the Indian market.
Mr Maqsood Shaikh pioneered the video door phone technology and has now become a key security solutions provider for residential and commercial establishments in Western India. Twenty three years after establishing Innovative Ideals And Services (India) Ltd is embarking on a major expansion plan across India and abroad.
Ahead of on IPO filing in January, Mr Shaikh shares his thoughts on the growth of Indian security industry and the way ahead with Corporate Ethos.
#You are a pioneer in security systems in India, how do you see the evolution of the industry over the years.?
Until 1990’s security was not a top priority. Jewellers used to install CCTVs on premises and it was considered a luxury. With manpower security, efficiency and reliability was a big issue. People were not aware of the options and technologies available. Some companies imported devices from Hong Kong and Japan but after-sales service was lacking. That’s when we thought of venturing into this business and we came up with Video Door Phone which now commands over 60% of market share in the Western India. The success of a product lies in competitive pricing and fitting the requirement of clients. The security systems available were not customised and flexibility was not there.
#How did you grow your business?
We started offering total solutions to residential and commercial complexes—right from CCTV, fire detection systems, Video Door Phone technology, home networking systems. Intrusion alarm systems and telecom products. Our strength was in qualified, highly trained staff who responded to the complaints and issues very fast. We understand the requirements of each building by studying architecture and provide solutions that comply with industry and security standards. We are based in Mumbai and with an employee strength of 80 but still growing.
#From Electronic to Digital era, how could you transform yourself?
Three years ago after the Nirbhaya incident we thought of providing digital solutions for women and child safety. That’s when we launched ArmHer, which is quite unique and doesn’t have the disadvantage of a mobile app. The product was launched Amruta Fadnavis, spouse of Maharashtra Chief Minister Devendra Fadnavis. It is a small device that can be connected to the mobile phone via Bluetooth and has a panic button that can be pressed in times of emergency. It will send five SMSes and emails to five family members listed showing the location of the person in a Google map and also give a Facebook update.
At times of emergency a mobile app is of no use, as the mind of a girl or woman stops working in panic situations. With our Armher device, she just needs to press the panic button, the rest the system will take care. We are planning to launch such a product for children in schools. It will have a GPS tracker system to locate the student and give an alert if the child goes beyond permissible limits. The system will send messages to the designated numbers and they can take quick action to save their child.
#Could you tell us about your expansion plans?
We have grown slowly and steadily over the years to be a Rs 25 cr company. Innovative has established a name and reputation in Mumbai and Pune as a B2B player catering to residential and commercial apartments. Now we are planning to launch our products in B2C segment and also planning to sell online through tie-up with leading e-commerce players. We are in the process of drafting our IPO documents which should be ready by January for listing in SME segment in BSE and NSE. We plan to double the turnover and also go global in business.