Aparna Enterprises joins hands with Hong Kong co
Hyderabad: Construction material major Aparna Enterprises, a part of city-based Aparna Group, on Wednesday joined hands with Hong Kong-based Craft Hold...
Hyderabad: Construction material major Aparna Enterprises, a part of city-based Aparna Group, on Wednesday joined hands with Hong Kong-based Craft Holding Limited to set up a manufacturing facility in the city for aluminium exterior solutions for building sector.The joint venture, Aparna-Craft Exteriors Private Limited, will initially manufacture building facades which will be sold in India and abroad. Aparna Enterprises will own 70 per cent of the joint venture while the remaining 30 per cent will be with Craft Holding.
"The joint venture will initially invest Rs 30 crore in the manufacturing facility being set up at Bachupally in the city. We will market the products in Hyderabad and Bengaluru, the two big markets in South India, which are currently clocking fastest growth," Aparna Reddy, Executive Director, Aparna Enterprises, told the media here. Spread across 50,000 sq ft, the plant will have annual production capacity of 6 lakh sft.
On exports side, the JV is looking at Australia from where it has already received some enquiries. "We are expecting $15 million in revenues from this business in the first year of operations of the JV. We will eventually launch other products from Craft Holding, especially roofing solutions," Ms Reddy added.
As per estimates, Indian building facades and fenestrations market is pegged at around Rs 10,000 crore and Hyderabad and Bengaluru markets account for 25 per cent of it. "Aluminum exteriors as a market segment has a huge potential owing to rapid urbanisation and infrastructure development across the country.
Today's customers are looking for exteriors solutions that are superior and distinct in design and quality," said Ashwin Reddy, Managing Director, Aparna Enterprises.Craft has clearly demonstrated its ability in this segment. We are confident that our combined energies will help us to serve this growing opportunity, he added.