Interarch Building Products said that it has invested total Rs 97 crore in its fifth (pre-engineered buildings) PEB manufacturing plant in Attivaram Village, Nellore, Andhra Pradesh.
The said manufacturing facility is equipped with the latest technology and has capabilities to manufacture pre-engineered steel (PEB) structures and pre-engineered metal roofing and cladding systems. This plant will contribute significantly to the region's industrial growth.The company has inaugurated phase 1 of the plant, which covers 4 acres of the plot and has been built at an investment of Rs 40 crore (including cost of land). The investment for phase 1 has been funded by internal accruals and will increase the companys installed capacity by 20,000 MT per annum.
The company further did the groundbreaking ceremony for the Phase 2 of the plant, which covers 6 acres of the plot and will increase the companys installed capacity by 40,000 MT, increasing the overall capacity to 2 Lakh MT per annum. The total plant area of phase 2 will be 2 lakh Sq. Ft and is likely to be commissioned over the next 7-8 months.
The Phase 2 plant will be set up at approximate cost of Rs 57 crore, funded through IPO proceeds. In Phase 2, the company expects to create direct and indirect jobs for approximately 500 people.
The new plant is designed to meet the highest standards of efficiency and quality. With this expansion, Interarch is not only expanding the production capacity but also creating new opportunities for employment and economic development in the region, it added.
Arvind Nanda, managing director, and Gautam Suri, whole time director, Interarch Building Products, said, We are excited to announce the inauguration of our fifth PEB manufacturing unit in Attivaram, AP, marking a key milestone in our strategic expansion. This achievement not only reflects our robust growth trajectory but also our unwavering commitment to excellence. As we continue to expand, our goal remains clear: to set new standards in the industry through quality, innovation, and customer delight. This new facility enhances our geographical reach and reinforces our commitment to innovation, quality, and sustainability. We look forward to contributing to the region's economic development and meeting the growing demand with excellence.
Manish Garg, CEO, Interarch Building Products said, Inaugurating this fully integrated PEB manufacturing unit in Attivaram is a proud moment for all of us at Interarch. This new facility represents our dedication to driving progress and creating value for our clients and the communities we serve. This new facility will help us service the increasing demand from our discerning consumers and help us meet our aggressive growth plans.
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Interarch Building Products (IBPL), promoted by Arvind Nanda and Gautam Suri, it is one of the leading turnkey pre-engineered steel construction solution providers in India with integrated facilities for design and engineering, manufacturing, on-site project management capabilities for the installation and erection of pre-engineered steel buildings.
The company's standalone net profit jumped 5.9% to Rs 86.26 crore in FY24 as against Rs 81.46 crore in FY23. Net sales stood at Rs 1,293.30 crore in FY24, registering a growth of 15.1% YoY.
The script fell 1.78% to currently trade at Rs 1,120 on the BSE.
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