New Delhi: Pre-engineered building solutions provider EPACK Prefab is looking to expand its operations in the airport and warehouse construction services. The expansion will primarily focus on southern India, the company said in a statement.
Earlier this year, it had announced setting up a new manufacturing facility in Andhra Pradesh with an investment of ₹198 crore.
“The company is aiming to expand its market share in the south, which has tremendous potential. Further investments can be expected going ahead as we look to expand our operations,” said Nikhil Bothra, Director of EPACK Prefab.
The new plant is expected to be operational by September 2023 and will be internally funded.
Pre-engineered building structures are used in various industries, including aviation, small airports, stadiums, commercial, and residential projects.
EPACK Prefab currently has two manufacturing facilities in Rajasthan and Uttar Pradesh, with a total annual production capacity of 100,000 metric tonne of prefabricated material, which will double to 200,000 metric tonne with the addition of the new plant, the company statement said.
“This expansion is a necessary step in providing cost-effective services across the country, particularly in the southern market, from where we have observed an increased demand. The new facility will help to meet export demand by being closer to ports, with primary exports focused on Bangladesh, Bhutan, and the Middle East,” Bothra added.
In FY23, the company logged a revenue of around ₹775 crore, compared to ₹350 crore in in FY22. In the current financial year, it aims to surpass tRs 1,000 crore in revenues.
Prefab construction has also emerged as a major option for construction in challenging terrains like mountainous regions due to its light weight and sustainable features.
Download The Mint News App to get Daily Market Updates & Live Business News.
Updated: 01 Jul 2023, 01:30 PM IST