German firm and world’s biggest uPVC window manufacturer Veka, that has tied up with NCL, announced that the fully-automated 1.50 lakh-sq. ft plant in Medak, 20 km off Patancheru, would go on stream from next month onwards.
The ₹50-crore joint venture plant with both firms sharing 50:50 ownership would not only be making high-end uPVC windows for real estate within the country, but would serve as a base for exporting the produce to the Middle East and African nations.
The demand for uPVC windows is said to be growing at around 25% in the last decade, capturing a market share of 12% that includes those made of aluminium and wood.
“We have been growing at 30% annually and clocked a turnover of ₹163 crore last year. We expect to maintain the growth rate. We see ourselves in the middle of premium segment and unbranded goods,” said NCL Veka MD Ashven Datla at a press conference here on Thursday.
“We have a strong presence in the U.S. and Europe and we see a strong growth potential in this market,” said Andreas Hartleif, CEO, Veka AG.
“The Middle East and African nations are markets similar to India, so we expect to use this as a base for exports,” said Matthias Koch, head of strategic marketing, Veka.