Aparna Enterprises eyes Rs 2,100 crore revenue by FY24
Aparna Enterprises Limited (AEL) is a flagship company of the Aparna group operating in the building material segment. The firm has evolved into one of the leading players in the country for quality building materials of the highest standards. Aparna Enterprises has set high benchmarks in the industry with its range of products.
Evolving constantly and embracing new technologies, AEL is focused on developing next-generation building materials, earning great recognition and trust from customers. The firm had shown a stellar performance in FY23 clocking a revenue of Rs.1,650 crore.
Aparna Enterprises Limited is targeting total revenue of Rs.2,100 crore by FY24 as the firm’s expansion is underway, establishing its presence across major markets driven by a strong demand for construction materials.
According to the experts, the estimates show the market size of the building material industry at around $225 billion. The projected growth rate for 2023 is around 10%, and it is estimated to clock a CAGR growth of 8% to 9% in the next five years.
While the industry shows a positive growth curve, Aparna Enterprises seizes this opportunity, setting up a new uPVC manufacturing unit in Rudraram, Hyderabad, with an investment of Rs.100 crores. With this new facility set up, the company’s production capacity of uPVC is projected to increase to 1,200 tonnes from the current capacity of 700 tonnes per month.
“The building material segment is an interesting space to be in. And COVID was a blessing in disguise as well because everyone realized the importance of having their own home, which boosted the real estate segment as well. And the demand boosted other segments, be it cement, steel, tiles or UPVC,” said Aparna Reddy, Executive Director, Aparna Enterprises.
Currently, Aparna Enterprises has a favorable presence in Vietnam, Bhutan and Bangladesh.
The company’s growth is complemented by the establishment of new company-owned stores and the firm is all set to explore new international markets like the United States, added Ms. Reddy.
She expects exports to contribute 10% of the group’s business over the next two years.
Ms. Reddy also quoted, “Although domestic consumption is high, we are also interested in exploring other international markets because pushing the Indian product has become much easier now compared to earlier times. There is a willingness to buy Indian building material now.”
At present, Aparna Enterprises Limited generates close to 70% of its business from private developers and up to 30% from government-related projects.
“We have started focusing more on government projects over the past three-four years. The government is also investing a lot in the medical and health segment,” she said.