~Its expansion to contribute 20% of Ökotech’s total revenue in the near term~
Bengaluru, 14 December 2023: Aparna Enterprises Limited, India’s fastest growing building materials manufacturer, has entered strategic South-East Asia markets with its uPVC doors and windows brand, Ökotech. After successfully penetrating the North Indian market and Bhutan, Aparna Enterprises’ venture into Vietnam, Bangladesh, Sri Lanka and Nepal will contribute 20% to Ökotech’s total revenue in the future.
The company’s venture into these diverse markets is fuelled by a strategic initiative to cater to the growing demand for uPVC doors and windows on a global scale. The global uPVC market is expected to grow to USD 99.18 billion by 2032 with a CAGR of 6.8% in the forecast period. The demand in Asia-Pacific contributes to this market due to factors like high compatibility of profile sections, thermoplastic performance, urbanisation and industrialisation.
To facilitate the expansion of its uPVC division, Aparna Enterprises has allocated an outlay of INR 50 crores which will enable its strong presence in the global uPVC markets.
Speaking on Ökotech’s strategic international expansion, Ms. Aparna Reddy, Executive Director of Aparna Enterprises Ltd., said “We are thrilled to embark on this journey to expand our uPVC doors and windows footprint to South-East Asian countries. We have witnessed a growth of CAGR 20% with Ökotech’s product portfolio in the past four years, and are looking to further increase this with our strategic investments and expansion. We are determined to deliver exceptional products and services to become a trusted choice in uPVC products, especially in markets like Bhutan, where Ökotech’s foray is a testament to our green focus.”
Mr. Mahesh Choudhary, President and CEO of the uPVC Division of Aparna Enterprises Ltd. said, “Our goal is not just to expand geographically but to become a trusted name in the uPVC segment globally. We are confident that we would be able to capture a substantial market share in the South-East Asian markets by delivering high-quality products and services that meet the diverse needs of our customers.”
Aparna Enterprises’ foray into these markets is expected to create 500 new job opportunities, supporting the company’s commitment to fostering economic growth and development in the regions of expansion. As Aparna Enterprises continues its international expansion, the company remains dedicated to upholding the highest standards of technology, research, design, and quality, reinforcing its position as a global leader in the building materials industry.
