Page 28 - Construction_Opportunities_August_2024

CONSTRUCTION TICKER TAPE

WHERE LUXURY MEETS TIMELESS TRADITION: EXPERION VARMORA INVESTS `400 CRORE IN TWO NEW PLANTS IN
DEVELOPERS LAUNCHES ICONIC TWIN TOWERS IN MORBI, GUJARAT
NOIDA Varmora Granito Pvt Ltd., a Gujarat-based tile and bathware brand
Experion Developers, a fully FDI-funded premium real estate backed by global investment firm Carlyle, announced recently
developer and a wholly-owned subsidiary of Experion Holdings an investment of `400 crore in the establishment of two new
Pte Ltd, Singapore, announced its intention to enter the Noida real manufacturing plants. One of these plants will focus on producing
estate market with their prestigious project Experion Elements at artificial stones designed to replicate the beauty of natural marble.
Sector 45. This landmark development marks the expansion of the The two plants, which together offer a manufacturing capacity of
company in the Delhi NCR region as it reiterates its commitment to 17 million square meters (msm) per annum, will boost Varmora’s
providing excellence and innovation in one of the fastest growing total production capacity to 58 msm. One of the plants will utilize
cities in India. Integrated Stone Technology (IST), a new technology sourced from
Spread over 4.76 acres, the project will feature twin towers Italy that allows for the replication of natural marble features, but
designed to redefine luxury living in Noida. With signal-free access with added strength, stain resistance, and lower costs. “We have
from Delhi, Experion Elements promises to provide unparalleled sourced this IST technology from Sacmi, securing exclusive rights
connectivity and convenience for its residents. for the next two years,” said Bhavesh Varmora, Chairman of
What sets this project apart is its unique blend of modern luxury Varmora Group. He added that while demand for such artificial
and ancient wisdom. The two towers are carefully juxtaposed stones is high in the United States and Europe, the company plans
in cosmic precision, balancing a quest for perfection rooted to focus on the Indian market. The second plant, with a capacity
in a timeless philosophical tradition. This harmonious approach of 12 million square meters, will manufacture tiles and bathware.
extends to every stage of development, creating mindful living The two new facilities are expected to create over 600 jobs. For
spaces that soothe and nurture both body and spirit. the financial year 2023-24, Varmora reported sales of `1,490
The project offers spacious 3 BHK and 4 BHK residences designed crore, with exports accounting for 20% of the total. The company
to meet the needs of modern living. Experion Elements is GRIHA currently operates 15 manufacturing plants in Morbi, Gujarat.
pre-certified for green buildings, which emphasizes sustainable
and environmentally friendly practices. Moreover, the project also MEGHNA INFRACON WINS REDEVELOPMENT DEAL
features a wide range of amenities and many of these are first for Meghna Infracon Infrastructure Limited has signed a
Noida such as EV charging point for every apartment, Kick Boxing, redevelopment agreement for a residential project located in
Pikkle Ball court, active pet park, and many more such features Model Town, Lokhandwala, Andheri (West), Mumbai. The project,
along with the other social, sports and community amenities, spanning approximately 35,000 square feet, is projected to
offering a simple and urbane lifestyle. generate revenue of `40 crore. Managing Director Vikram
Through this project, Experion Developers injects a global Jayantilal Lodha highlighted that the project reflects the
perspective to local real estate development. The company’s company’s dedication to enhancing living standards. The
expansion in Noida underscores its confidence in the growth redevelopment will proceed following the transfer of possession
potential of the city and commitment to cater to the evolving to the original tenant. This deal represents a significant milestone
needs of discerning home buyers and investors in the Delhi-NCR in Meghna Infracon’s growth strategy in the real estate sector and
region emphasize. strengthens its foothold in Mumbai’s residential market.

28 CONSTRUCTION OPPORTUNITIES|AUGUST 2024