Welspun's New 1,100Cr Tiles Manufacturing Facility
Welspun Flooring Ltd., which is Welspun Group's fully integrated and independent vertical, launched a manufacturing facility in Hyderabad, Telangana with a potential capacity of 40 million square metres per annum. This facility is set up with an investment of Rs 1,100 crore (US$ 156.05 million), is spread across 200 acres. It provides employment to around 1,600 members. The facility will manufacture wide variety of innovative products ranging from carpet tiles, greens (artificial grass) and broadloom carpets (wall to wall carpet) to the patented product – the Click-N-Lock tiles. It was launched with an initial capacity of 10 million square metres and will be expand to 40 million square metres annually. Out of 40 million square metre, the hard flooring products are given 25 million square metres while rest will be for soft flooring products. The Welspun Group is also developing a manufacturing plant adjacent to this for its emerging business-like advanced textiles. It plans to investment Rs 400 crore (US$ 56.75 million) over a span of two financial years. “The flooring business is meant to complement the group's existing businesses such as home textiles”, said Welspun Group chairman Mr B K Goenka. "Our retail brands like Welspun and Spaces has gained high consumer acceptance and continues to drive our growth in the evolving domestic market. We are now entering another exciting phase of our growth with foray into the flooring segment. This emerging business is poised to benefit from the synergies with our existing businesses and large customer base, thereby creating a strong domestic as well as global growth opportunity," Mr Goenka added. “This plant launch is in line with Welspun Flooring Ltd.'s aim to disrupt and transform the new homes and renovation segments of the Rs 35,000 crore (US$ 4.97 billion) Indian tiles market”, Mukesh Savlani, President and CEO- International Business of the company said. The company also plans to offer holistic flooring solutions for architects, designers, retailers, and customers, and aims to manufacture products for every industry including residential, hospitality, and commercial. It also plans to export to Europe, US, Australia, and the Southeast Asian countries along with focusing on Indian market.
Tags : Realty Spotlight Investment Hyderabad Telangana Welspun Flooring Ltd. Welspun Group