Business Sphere Magazine

Nova Formworks Pvt. Ltd.: Redefining Construction Efficiency

Through Innovation and Sustainability with Plastic Formworks
In an industry traditionally defined by heavy materials, high labor dependency, and rising costs, Nova Formworks Pvt. Ltd. has emerged as a transformative force. With its pioneering approach to plastic and aluminium formwork systems, the company is not only reshaping construction practices in India but also positioning itself as a global innovator in sustainable building solutions.
Founded by Mr. Vikas Kumar Mittal, Nova Formworks represents the culmination of deep industry expertise, relentless research, and a forward-thinking vision. The journey began in 2007 when the idea of introducing plastic formworks in India was first conceptualized. After years of dedicated research and development, the company successfully launched its patented product in 2010, followed by full-scale production in 2011. Backed by an initial investment of ₹23 crore, the venture has grown into a ₹96 crore enterprise as of March 2026, marking a significant rise from ₹80 crore the previous year.

At the core of Nova’s success lies its innovative formwork technology. Unlike traditional systems, Nova’s plastic and aluminium combination formworks are lightweight, modular, and highly reusable. These attributes translate into tangible benefits for the construction industry—reducing project costs by up to 40%, minimizing labor requirements, and ensuring superior surface finish. In a sector where efficiency and speed are paramount, Nova’s solutions offer a compelling value proposition.
The company’s commitment to sustainability further strengthens its market position. Its reusable systems significantly reduce material wastage, aligning with global environmental goals. Nova Formworks is already ISO 9001:2015 certified and has applied for green certification, underscoring its dedication to responsible manufacturing practices.

What sets Nova apart is its relentless focus on research and development. With an annual R&D investment of ₹70–80 lakhs and over eight years of foundational research, the company has perfected a patented technology that continues to evolve. Its products have undergone rigorous testing at premier institutions, including IIT laboratories, ensuring high standards of strength, durability, and reliability.

Nova’s versatile formwork systems cater to a wide range of applications, including walls, columns, slabs, beams, drains, box culverts, and precast molds. They are particularly well-suited for modern construction techniques such as monolithic construction and cast-in-situ concrete structures. This adaptability has enabled the company to serve diverse sectors—from residential and commercial projects to infrastructure developments like roads, highways, and dams.

The company’s client portfolio reads like a who’s who of the construction industry. Leading names such as Tata Projects, Larsen & Toubro (L&T), Shapoorji Pallonji, Ahluwalia Contracts, Rohan Builders, and ATS Construction have placed their trust in Nova’s solutions. This strong clientele not only validates the company’s technical capabilities but also highlights its credibility and consistency in delivering high-quality products.
Nova Formworks’ growth story is also defined by its strong leadership and organizational vision. Mr. Vikas Kumar Mittal brings over 27 years of experience in the plastic industry, having been deeply involved in his family’s business spanning PVC pipes, molded furniture, and other plastic products. His technical knowledge, combined with sharp observational skills, enabled him to identify a critical gap in the construction sector and turn it into a thriving business opportunity.
In 2009, the company received a strategic boost when Mrs. Tina Mittal joined the leadership team. A commerce graduate from SRCC and VP - Central India at NAREDCO Mahi, she has played a pivotal role in structuring the company’s operations and driving scalability. Her innovative approach to process optimization and her understanding of industry dynamics has been instrumental in shaping Nova’s growth trajectory.

Today, Nova operates two manufacturing units—one in Bangalore and another in Ghaziabad—with a combined annual production capacity of 20,000 square meters. The company employs around 200 people, with an impressive 70% employee retention rate over the past five years. This stability reflects a strong organizational culture and a commitment to employee development.
Beyond domestic success, Nova is steadily expanding its global footprint. The company exports its products to markets such as South Africa, Somalia, Maldives, and Dubai, with exports contributing approximately 10% of total turnover. This international presence is a testament to the universal applicability and competitiveness of its technology.

Recognition has followed innovation. In 2025, Nova Formworks was honored with the “Best Innovation in Construction Sector” award by the Construction Industry Development Council (CIDC), further cementing its reputation as a trailblazer.
Looking ahead, the company has set ambitious goals. With plans to expand into allied sectors such as drainage systems, hospitals, and large-scale infrastructure projects, Nova aims to achieve a turnover of ₹400–500 crore within the next five years. This growth strategy is backed by continuous innovation, market expansion, and a steadfast commitment to quality.
Nova Formworks’ journey is a compelling example of how vision, perseverance, and innovation can disrupt traditional industries. As Mr. Mittal reflects on his success, he attributes it to hard work, disciplined ex*****on, and a deep sense of purpose. His advice to aspiring entrepreneurs is simple yet powerful: give 100% focus, plan meticulously, and execute with precision.
In an era where sustainability and efficiency are no longer optional but essential, Nova Formworks Pvt. Ltd. stands as a beacon of progress—reshaping the future of construction, one modular panel at a time.

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