Construction and building materials company, Aparna Enterprises, part of the Hyderabad-based Aparna Group, has announced a joint venture with Hong Kong-based Craft Holding Ltd for the manufacture and retail of aluminium exterior products and solutions.
The venture, Aparna-Craft Exteriors, will leverage the design and engineering expertise of Craft Holdings and the execution capabilities of Aparna Enterprises to offer aluminium exterior solutions in India.
The synergy will witness the brand setting up a manufacturing facility at Bachupally, Hyderabad, spread across 50,000 sq. ft, with a production capacity of 0.6 million sq. ft per annum initially.
Ashwin Reddy, Managing Director, Aparna Enterprises, said, “Aluminium exteriors as a market segment has huge potential owing to rapid urbanisation and infrastructure development across the country. Craft is a leader in many geographies across the world and Aparna-Craft Exteriors will thrive to be the one in India.”
Indian building facades and fenestrations is fast growing and is pegged at around Rs 10,000 crore, Reddy said.
Aparna Reddy, Executive Director, said: “Initially, we expect to invest about Rs 30 crore on the project and later ramp it up as we grow. The design expertise with our execution capabilities will enable us to offer new solutions.”
Grant Craft, Chairman, Craft Holdings, said: “This partnership will also give us a strong networking capability and business foundation, and thereby, help us fully realise the facade opportunity in India over the long term.”
The venture plans to provide complete end-to-end façade solutions, right from design and engineering to production and execution.