He recognizes that entering new business sectors while keeping our core capabilities intact requires us to enhance our expertise. Nurturing fundamental skills is crucial. Manpreet emphasizes the importarice of staying updated with trends and enhancing capabilities in these sectors. Furthermore, he acknowledges the value of agile strategies that adapt to both trends and competition in the fast-paced contemporary landscape.

"The period before and after COVID has prompted the need to continually learn and reassess assumptions and competencies. In the current dynamic and unpredictable world (VUCA), we closely monitor global developments, keeping a keen eye on geopolitical shifts and opportunities both in India and worldwide. Whether competitors are domestic or international, staying adaptable and aligning with significant developments allows us to navigate challenges, adjust our course, and chart a path toward sustainable growth, says Manpreet

Manpreet also shares that creating a strategy for driving new business growth goes above the study of trends. It is a combination of both art and science, that involves coming down to brass tacks and studying a new sector in a near mathematical manner which spans multiple aspects such including financial considerations, social dynamics, core competencies, and more.

"Let's talk about financial metrics. We always sustained profitability, and it's important to note that profitability has been a consistent goal for us. From day one, we invest in the business with the aim of reaching the same level as the industry's top players in terms of profitability & cash flows by deploying the best resources possible," shares Manpreet. "Then, we assess various factors: What's the return on investment? What's the expected return on capital employed? Since 2 of our companies are listed, we're accountable not only to the board but also to larger shareholders."

He also emphasizes that social metrics, focusing both inward & outward, are key to any new businesses. These initiatives, including new considerations like sustainability, purpose and social responsibility Internal improvements such as competency development, and succession planning, are all aimed not only at staying on top of financial and competency metrics but also at ensuring the company's overall success and competitiveness.

Apart from this blend of art and science, Manpreet also highlights the openness to partner with the best in the sector, to ensure the development of capabilities that might not be built within the ecosystem quickly enough to be competitive. This approach is a key factor that sets Somany Impresa Group's strategies apart in the market. He illustrates this with the example of the PVC pipes business Truflo Pipes which is one of the fastest growing brand names in the market today.

"We quickly realized that the top three companies in this segment had some kind of a partnership which helped them produce quality products. After a global search tracking the top 10 players in the business, we successfully forged a partnership with a Japanese conglomerate 'Sekisui Chemicals. They provided us with their material called 'Duro Stream', because of which the products we manufactured are of superior quality which helped us to gamer trust of the market to be associated with the renowned house of Hindware in a new business category," shares Manpreet

One of these partnerships also marks one of the most memorable moments for Manpreet during his ongoing journey with the Somany Impresa Group.

Manpreet however does mention that spending quality time with his family is his favourite way to unwind, in addition to a newfound hobby of enjoying theatre. A voracious reader from a young age, he credits this pursuit of his being fuelled by the annual gift of a book to the leadership by the Chairman. He does also make it a point to take some time out and absorb the culture of a new place when travelling for business, something that fuels a more well- rounded understanding of different cultures.