Construction and building material company Aparna Enterprises Limited announced a joint venture with Hong Kong-based construction solutions provider Craft Holdings Limited on Wednesday. The joint entity will manufacture and retail aluminium exterior products under the brand name Aparna-Craft Exteriors, the company said.
The JV will set up a manufacturing unit at an investment of Rs 30 crore in Hyderabad with a production capacity of 600,000 square feet per annum initially.
"Aluminium exteriors as a market segment has a huge potential owing to rapid urbanisation and infrastructure development across the country. Craft is a leader in many of the geographies across the world and Aparna-Craft Exteriors will thrive to be the one in India," Aparna Enterprises managing director Ashwin Reddy said.
Indian building facades and fenestrations is a fast-growing market and is pegged at around Rs 10,000 crore, according to Reddy.