Aparna Enterprises Limited has announced floating a joint venture with Hong Kong-based construction solutions provider Craft Holdings Limited.
The JV will manufacture and retail aluminium exterior products under the brand name Aparna-Craft Exteriors.
The joint venture will set up a manufacturing unit at an investment of Rs 30 crore in Hyderabad with a production capacity of 600,000 square feet per annum initially.
According to Aparna Enterprises managing director Ashwin Reddy, “Aluminium exteriors as a market segment has a huge potential owing to rapid urbanisation and infrastructure development across the country. Craft is a leader in many of the geographies across the world and Aparna-Craft Exteriors will thrive to be the one in India.”
He added that Indian building facades and fenestrations is a fast-growing market and is pegged at around Rs 10,000 crore.
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