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Corporate History of Paul Merchants
The saga which started with few people getting together to offer services with a difference, ultimately unfolded into a large conglomerate having diversified interests in Forex, International Money Transfer, Tours, Travels, Holidays Packages and Air Ticketing over a period of time.
Our Beginning
Saga Of Success
Braving to step out from the comfort zone of the family business, Mr. Sat Paul Bansal embarked on an illustrious journey to tread the untrodden path. Fuelled with grit and perseverance, he went on to achieve unprecedented success in a short span of time. He started small, dreamt big, and had a clearly defined vision to fulfill his dreams.
The saga, which started with few people led by Mr. Sat Paul Bansal, to offer services with a difference has ultimately unfolded into the emergence of a large conglomerate having diversified interest in forex, international money transfer, the entertainment industry (Satellite TV), distribution of telecommunication services, tours & travels, holiday packages and air ticketing over the time.
Beginning of the journey…
Mr Paul’s entrepreneurial journey and his contributions to the nation during wartime are quite inspirational. It all started when Mr Paul joined his family business of cloth merchants in the year 1963, a year after that he ingeniously collaborated with the Indian Oil Corporation and became its main distributor to provide petroleum products, this astute decision showcased his great vision and ability to identify productive business opportunities at that time.
He went on further and promisingly established a fleet of four gas stations, two kerosene oil agencies, and one LPG agency over a period of time again demonstrating his business acumen and ability to expand his enterprise.
During the testing times of war with Pakistan in 1971, Mr Paul took the commendable initiative of keeping his gas stations open for 24 hours and day and night to ensure a steady supply of gasoline to all military and private vehicles on army duty. This helped the armed forces carry out their duties without any interruption. His duly service to the nation was rightfully recognized and he was honoured with a Special Recognition.
Mr Paul’s story is exceptionally motivating and shows how individuals can make a difference with his hard work, vision, and dedication to businesses and the nation.
Turning Point
The establishment of Paul Merchants Limited (PML) is extremely enduring. Commencing as the Principal Distributor of Bombay Dying in 1978 for the States of Punjab, H.P, Haryana, and U.T, Mr Paul paved a path of new ventures with his grit and quick-wittedness and then acquired a Delhi-based Public Listed company in 1990.
This company was eventually renamed and entitled PML.
PML, a public limited company with its scripts listed on the Bombay Stock Exchange soon became a synonym for trust, quality, assurance, and integrity in the following years. Mr Paul’s illustrious journey in the establishment of a business house that reflects these values is truly remarkable.
PML has always prioritized values and thus has built a strong reputation and trust of its customers. This, in turn, has led to increased customer loyalty, positive word-of-mouth marketing, and ultimately, success in the long run.
International Money Transfer
On 27th April 1998, PML teamed up with Western Union Financial Services Inc to become its principal agent. The company though officially launched its operations in the following year but quickly experienced significant growth and expansion. Despite its humble beginnings, PML’s success was unparalleled in its field.
The company’s remarkable progress is evident from the fact that it was able to provide flawless services from over 20,000 locations throughout India, including its own offices and franchisee locations. This impressive network demonstrates the widespread reach and accessibility of the company’s services had existed in the past and are still propagating and flourishing in the present and near future.
Business Diversification
Mr Paul’s relentless efforts to broaden the company’s horizon and explore new business opportunities demonstrate his entrepreneurial spirit and vision for growth. By identifying and pursuing new markets, Mr Paul has positioned PML as a dynamic and forward-thinking company that is capable of adapting to any changing market conditions and meeting the evolving needs of its customers.
The decision to diversify into the travel sector in 2010 was a strategic move by Mr S. Paul and Mr Rajneesh Bansal to expand their business under the PML and take the brand into uncharted territories. By capitalizing on the strengths and competitive advantage already established by the company, PML was able to leverage its existing resources and expertise to enter a highly promising sector.
PML Holidays is a travel division of PML that offers a wide range of holiday packages to customers in India. The company has tailored its packages to suit the needs and preferences of people from different walks of life and at different price points.
By doing so, PML Holidays has made it possible for every Indian citizen to travel and experience new destinations.
PML Holidays has established partnerships with major global travel players, allowing the company to offer competitive prices to its customers.
In addition, PML Holidays has obtained accreditation from IATA, affiliations with the Ministry of Tourism, and memberships of industry associations such as TAAI, PATA, and ASTA. These accreditations and affiliations demonstrate PML Holidays’ commitment to providing high-quality travel services to its customers.
With its broad range of holiday packages and established partnerships, the company has positioned itself as a major player in the Indian travel industry. Impressively adapting all new trends and creatively accomplishing them to get accolades from its customers has always been PML Holidays’ main aim, the enterprise is effectively prospering and growing under the competent and zestful managing director Mr Rajneesh Bansal, his future foresightedness and positive perceptiveness are taking PML holidays to the soaring heights.
Drivers of Success
Compliance Culture
With fair practices and Law abiding culture, PML has always believed that a great business venture not only profits the practising enterprise but also the country it inhabitant. PML has always proudly followed all the genuine and superior ethical values as per the rule book. Great Quality, Veritable Compliance and Bonafide Satisfaction are the principles deeply cemented in the core of our foundation.PML’s compliance program goes beyond the Statutory and regulatory requirements. The goal is to always follow the spirit of the legislation and honour the law
Building Relationship
Mr Paul recognizes that investing in relationships and people is the main force that drives and leads to a business’s success. He exceptionally prioritizes his customer relationships and also focuses on valuable additions of conjoined partners, as he understands the importance of innovation and continuous improvement in order to stay ahead of the competition. Relationships, one strong are those that stand strong and firm beside you at all times be it testing or happy, PML is one such organisation that builds faith within its employees, customers and associates that they can trust them in all circumstances
A Corporate Citizen
Mr Paul’s strong sense of social commitment and responsibility motivates him to go beyond the call of duty to contribute to society and ensure that his company operates with the same philosophy. Thus, PML is involved in various initiatives that promote sustainable development in society, including education, healthcare, hunger eradication, sanitation, and environmental protection.RAHAT, DAWAI, PANAH and DOST are few . Mr Paul firmly believes in empowering an individual to an extent fairly fends for themselves.PML distributes educational kits and offers scholarship programs to bright students from government schools. We believe in continuous efforts for our side to strengthen the overall SOCIO-Economic development of our society.
Young Blood
Mr Sat Paul Bansal’s long-standing experience and the involvement of the younger generation in the family business. With the infusion of modern ideas and new schools of thought, coupled with technical and innovative changes, business practices are bound to evolve and grow.
It’s also impressive to know that the Directors of the company, Mr Sandeep Bansal, and Mr Rajneesh Bansal, are taking the lead in driving this change. With Mr Sandeep Bansal’s seasoned professional experience and Mr Rajneesh Bansal’s international MBA education, they bring a diverse set of skills and expertise to the table.
Together, with the support and guidance of Mr Sat Paul Bansal, the company is well-poised to scale new heights and achieve greater success. It’s an exciting time for the business, and I wish them all the best in their endeavours
Road Ahead
More and more data is being consumed on mobile devices, the business is getting interspersed with our daily routine. Realizing the power of mobile technology, PML Group is coming up with a highly robust and institutive platform offering the option of making payments and a host of other features at the convenience of a mobile phone. Named ‘Paul Money’, the Group Company Paul Merchants Limited has already obtained a license from RBI to operate a mobile-based payment gateway platform. The product is currently in the development stage and will be launched soon.
