Real estate player Amrapali Group is looking to invest Rs 350 crore on its precast factory to raise the production to 1.5 crore sqaure feet area of building material.
"We have invested about Rs 400 crore to setup this facility and we are looking to invest Rs 350 crore to increase productivity and churn out over 1.5 crore sq ft of building material annually which will give us the capacity to construct a 18 floor tower in 9-10 months," Amrapali Group CMD Anil Kumar Sharma said in a statement.
However, the precast process cost 10 per cent more than regular methods, Sharma added.
He also said precast will play a major role in achieving the revenues of Rs 7,500 crore by 2020 from current levels of over Rs 3,000 crore.
The precast factory, which is spread across 25 acres of land, is currently churning out over 50 lakh sq ft of building area annually and is equivalent to raising 30 towers (18 floors each).
The company has imported precast technology from Germany, Finland and Dubai to give a boost to its real estate business in the country.
Precast structures may be given the desired shape and finish with accuracy, these are safer and earthquake resistant and it save time in construction of building.
