Aparna Enterprises, part of the Hyderabad-based Aparna Group, has entered into 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 JV company will set 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. The joint venture entails an initial investment of Rs 30 crore which will be increased in future as the venture grows in size.
The venture plans to provide complete end-to-end façade solutions, right from design and engineering to production and execution.
Indian building facades and fenestrations is fast growing and is pegged at around Rs 10,000 crore and the JV aims to capture major chunk of the market share in the coming years. Also the company’s management feels that aluminium exteriors as a market segment has huge potential owing to rapid urbanisation and infrastructure development across the country.