Incubated by Red Ribbon Advisory Services, the firm will invest Rs 100 crore to set up a modular building construction factory which is expected to be operational by March 2017, the company said in a statement.
"The Indian construction market still has a long way to go in comparison to the global scenario. We aim to take India to the next stage of real estate development by providing a jump-start to the construction industry and bridging the demand-supply gap created by acute shortage of construction," Modulex Modular Buildings Country Head Ajay Palekar said.
"We aim to become a leading manufacturer of permanent steel-framed modular buildings by working with a diverse range of markets including hospitality, education, health, residential, defence and many more," Palekar said.
Modulex UK Chairman Suchit Punnose said, "India has the potential to become a great manufacturing hub and through Modulex we hope to bring in highly advanced and sophisticated technologies from the developed part of the world and apply them here.