
Aparna Enterprises Limited, part of Hyderabad-based Aparna Group, has announced a joint venture with Hong Kong-based Craft Holding Ltd to manufacture and retail aluminium exterior products and solutions.
Aparna Enterprises and Craft Holding’s joint venture will operate under the name Aparna-Craft Exteriors Private Limted. The JV will set up a manufacturing facility with an investment of about INR 30 crore at Bachupally, Hyderabad, India.
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Ashwin Reddy, Managing Director of Aparna Enterprises said: “Aluminium exteriors as a market segment has 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 Reddy, Executive Director, said: “Initially, we expect to invest about INR30 crore on the project and later ramp it up as we grow. The design expertise with our execution capabilities will enable us to offer new solutions.”
Grant Craft, Chairman of Craft Holdings commented: “This partnership will also give us a strong networking capability and business foundation, and thereby, help us fully realise the facade opportunity in India over the long term.”
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