Kathari Water Management Private Limited

Background

Kathari Water Management Private Limited (Kathari Water) is a private company incorporated on January 19, 2021, headquartered in Thane, Maharashtra, India. As a wholly-owned water platform of Eversource Capital—a joint venture between Everstone Group and Lightsource BP—Kathari Water focuses on investing in water and wastewater assets. The company's mission is to implement environmentally sound, socially acceptable, and innovative solutions in the water sector, aiming to become a leading water platform company.

Key Strategic Focus

Kathari Water's strategic focus encompasses:

Municipal Water and Desalination Projects: Developing and operating water and wastewater projects in the municipal sector to reduce water pollution, minimize groundwater abstraction, and rejuvenate water bodies in India.

Industrial Water Reuse through Zero Liquid Discharge (ZLD) Projects: Offering solutions for industrial wastewater treatment and reuse by financing and operating ZLD projects on a service model.

Urban Building Water Management: Investing in solutions for water conservation, monitoring, and metering in urban buildings to promote water sustainability.

Financials and Funding

Kathari Water has an authorized share capital of INR 120.00 crore and a paid-up capital of INR 112.00 crore. The company has secured funding from Eversource Capital, which raised the Green Growth Equity Fund (GGEF) with a closure at USD 741 million, making it one of the largest single-country climate funds in emerging markets.

Pipeline Development

Key projects include:

Ganga STP Project Private Limited: In partnership with VA Tech Wabag Ltd., the Government of India's National Mission for Clean Ganga (NMCG), and Kolkata Metropolitan Development Authority (KMDA), Kathari Water is implementing three sewage treatment plants in Kolkata with a total capacity of 187 MLD. The project also involves renovating and modernizing 13 sewage pumping stations and associated networks, expected to become operational by June 2023.

SmarterHomes Technologies Private Limited: Acquired a majority stake in May 2022, SmarterHomes is a pioneer in sub-metering water in residential and commercial buildings, having installed approximately 40,000 meters since February 2014.

Technological Platform and Innovation

Kathari Water employs advanced technologies in its projects:

Ultrafiltration Technology: Utilized in the Kathari ultrafiltration unit to remove pathogens from drain water, ensuring safe reuse while retaining essential nutrients.

Zero Liquid Discharge (ZLD) Systems: Implemented in industrial wastewater treatment to achieve complete elimination of liquid waste, promoting environmental sustainability.

Leadership Team

Prakash Seshadri Nathan: Executive Director & CEO with three decades of experience in the private infrastructure industry, previously serving as CEO for Water, Wind Energy, and Solar Park Business within the IL&FS Group.

Rajeev Sharma: Business Leader – Building Water Management, with over 31 years of experience in sales, marketing, project management, and corporate communication.

Swadhin Samantaray: Business Leader – Municipal Projects, possessing over three decades of experience in business development, project management, and financing of water and wastewater treatment plants.

Nilesh Dave: Head of Finance with 17 years of experience in private real estate development and equity funds, previously serving as VP - Finance for Gera Developers, Pune.

Leadership Changes

Recent appointments include:

Alka Khandelwal: Appointed as Company Secretary on September 16, 2024.

Aayush Parwal: Appointed as Alternate Director on May 31, 2024.

Competitor Profile

Market Insights and Dynamics

The water and wastewater treatment industry is experiencing significant growth due to increasing environmental regulations, urbanization, and the need for sustainable water management solutions. Companies are focusing on innovative technologies to address water scarcity and pollution challenges.

Competitor Analysis

VA Tech Wabag Ltd.: A global leader in water treatment solutions, specializing in municipal and industrial water treatment projects.

Ion Exchange India Ltd.: Provides a range of water and environment management solutions, including water treatment, wastewater treatment, and recycling.

Thermax Ltd.: Offers engineering solutions in energy and environment sectors, including water and wastewater treatment.

Strategic Collaborations and Partnerships

Kathari Water has established significant partnerships to enhance its market position:

VA Tech Wabag Ltd.: Collaborated on the Ganga STP Project to implement sewage treatment plants in Kolkata.

SmarterHomes Technologies Private Limited: Acquired a majority stake to expand capabilities in urban building water management.

Operational Insights

Kathari Water's strategic considerations include:

Sustainability Focus: Emphasizing environmentally sound and socially acceptable solutions to address water management challenges.

Technological Innovation: Leveraging advanced technologies like ultrafiltration and ZLD systems to provide efficient and effective water treatment solutions.

Long-Term Operations: Committing to long-term operation and maintenance of assets to ensure sustainability and return on investment.

Strategic Opportunities and Future Directions

Kathari Water aims to:

Expand Project Portfolio: Invest in additional municipal and industrial water treatment projects to address growing demand.

Enhance Technological Capabilities: Continue adopting and developing innovative technologies to improve water treatment efficiency and effectiveness.