Welspun launches ₹1100-cr manufacturing unit in Telangana
July 28, 2020 - India
Welspun Group's fully integrated vertical Welspun Flooring Ltd recently launched a manufacturing facility in Hyderabad with a potential annual capacity of 40 million square metres (sq m). Set up with an investment of ₹1,100 crore, the facility is spread across 200 acres, employing close to 1,600 members. Its initial annual capacity is 10 million sq m.
Of the total 40 million sq m capacity, 25 million sq m will be for hard flooring products, while the rest will be for soft flooring ones.
The plant is equipped to 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, according to media reports from Telangana.
Adjacent to the facility, the group is also establishing a manufacturing plant for its emerging business— advanced textiles—at an investment of ₹400 crore over a span of two fiscals. The flooring business is meant to complement the group's existing businesses like home textiles, said Welspun Group chairman B K Goenka.
"Our retail brands like Welspun& 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," Goenka added.
The plant launch is in line with Welspun Flooring Ltd.'s aim to disrupt and tranform the new homes and renovation segments of the ₹35,000-crore Indian tiles market, Mukesh Savlani, president and chief executive officer of international business of the company, said.
Along with the introduction of stone polymer composite tiles, the company offers holistic flooring solutions for architects, designers, retailers and customers, and aims to manufacture products for every industry – residential, hospitality and commercial. While India is a focus market, Welspun Flooring will also export to Europe, US, Australia and the Southeast Asian countries.