Kajaria Ceramics has recently announced that it will be setting up a new Rs 125 crore manufacturing plant in Tirupati. The state-of-the-art manufacturing plant will be used for production of glazed vitrified tiles and has a manufacturing capacity of 4 million sq m.
The new plant will reportedly aid in meeting the demand from the southern Indian market and will commence operation by the end of FY2017-18. At present, the ceramics and vitrified tiles major has eight plants located in different parts of the country, taking its annual aggregate capacity to 64 million sq m.
Reports indicate that the company is optimistic about the post-GST vitrified tile market and is expecting a double-digit growth in the coming years. It is growing at the rate of 15 per cent, which is steeper than the total industry growth. The company is especially optimistic as it recently launched its new range of tile products and bathware.