Construction and building materials firm Aparna Enterprises Wednesday announced a joint venture with Hong Kong-based Craft Holding to manufacture and sell aluminium exterior solutions.
The joint entity will operate under the brand name Aparna-Craft Exteriors Pvt Ltd, the company said in a statement.
It will set up a manufacturing facility in Bachupally, Hyderabad, spread across 50,000 sq ft, with a production capacity of 0.6 million sq ft per annum initially.
"Aluminum Exteriors as a market segment has a huge potential owing to rapid urbanisation and infrastructure development across the country," said Ashwin Reddy, managing director, Aparna Enterprises Ltd.
Indian building facades and fenestrations industry is fast growing and is pegged at around Rs 10,000 crore, he said.
Grant Craft, chairman, Craft Holdings Ltd, said: "India is one of the most dynamic markets in the world and we are pleased to partner with Aparna Enterprises to bring our expertise into the country."
Aparna Enterprises is part of Aparna Group. Founded in 1990, the company has largest market share in South India through a range of businesses in building-material products, such as ready-mix concrete, uPVC window and door systems, uPVC profiles, tiles, sanitary ware and kitchens.
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