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Aparna Enterprises, a building materials manufacturer, said it would invest ₹150 crore in 2023-24 to expand its operations.
Of the proposed investment of ₹150 crore, about ₹100 crore will be spent on establishing a uPVC production facility at Rudraram near Hyderabad. The additional investment will help the company increase monthly production of uPVC profiles by 70 per cent to 1,200 tonnes from 700 tonnes.
The capacity of window production would go up by 1.5 times to 50,000 sq meters from the present capacity of 20,000 sq meters.
“We will invest ₹50 crore to expand our tiles, ready-mix concrete (RMC), and aluminium businesses,” the Aparna Group company said.
“We see a good opportunity as the building materials industry is witnessing tremendous growth due to factors such as urbanisation, infrastructure development, and the soaring demand for real estate,” it said.
Stating that the sector is likely to grow at 8-12 per cent over the next five years, it said the company is well-positioned to meet this demand.
“We are confident that our investment in the new uPVC facility and the expansion of our tiles, RMC, and aluminium businesses will enable us to cater to the evolving needs of our customers while strengthening our market presence. We are targeting a revenue of ₹2,100 crore by the end of this financial year,” Ashwin Reddy, Managing Director of Aparna Enterprises Ltd, said here in a statement on Tuesday.
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