M3M awards Rs 133cr contract to German kitchen appliance maker

Realty firm M3M India today said it has placed a contract worth Rs 133-crore with Germany-based Miele for supply of kitchen appliances for its luxury housing project in Gurgaon.
The company is developing about 3,000 apartments in a golf centric housing project, spread over 75 acres at Gurgaon in various phases with an investment of about Rs 4,500 crore.
The project was launched in 2010 and delivery of the first phase comprising 600 flats is scheduled for the next year.
M3M India and Miele today entered into an agreement under which the German firm would supply 12,000 built-in kitchen appliances to M3M India for these 3,000 apartments.

Miele is a premium supplier of high-end domestic and commercial appliances.
"Market in India has changed and market is right for quality premium product. Therefore, we have signed this contract with M3M India," Miele co-owner and Executive Director Reinhard Christian Zinkann told reporters here.

The total value of contract is Rs 133 crore for supply of 12,000 kitchen appliances over the next four years, Miele India MD Rana Pratap Singh said, adding that this is the company's biggest contract in India so far.
M3M India Director Pankaj Bansal said that the company has tied up with Miele as the company strives for delivering quality products to customers.

Gurgaon-based M3M has about 2,000 acres of land bank in the national capital region. It is currently developing 12 projects covering 11 million sq ft of area.
Miele achieved a turnover of 3.22 billion euro in 2013-14, of which 70 per cent were from outside Germany. The company has nearly 50 sales subsidiaries or operates through distributors in 100 countries.