VEKA Acquires 100% Control of uPVC Business in JV NCL VEKA

14 Feb 2025 CW Team

Since its launch in 2009, the company has become India’s largest producer of uPVC profiles for doors and windows. VEKA holds largest market share across 130 cities, with a strong product portfolio and a revenue of Rs. 442 crores in 2024, maintaining its leadership in the uPVC window and door solutions sector.

Andreas Hartleif, CEO, VEKA AG Germany said, “With this strategic takeover, VEKA Germany has reaffirmed its long-term commitment to India, recognizing the country’s immense potential as a hub for innovation, manufacturing, and market growth. This move further strengthens VEKA's leadership in both global and Indian markets. As India’s economy experiences a robust growth, driven by rapid urbanization, an infrastructure boom, and a growing focus on sustainable housing, VEKA is well-positioned to capitalize on the rising demand for uPVC profiles in India. With a targeted CAGR of 15%, VEKA aims to drive market growth while transforming the country’s building materials industry with sustainable, durable, and aesthetically appealing solutions.”

Ashven Datla, Chairman of the Company said, “We look forward to a new phase of growth and success in the journey of VEKA in India, as VEKA Germany now assumes 100% ownership of the company. With plans to increase production capacity in line with the projected growth, with facilities that will serve as export hubs to international markets and explore greenfield opportunities, The Company is poised to expand further. Our continued focus on innovation and product development will help meet India’s growing demand for high-quality, energy-efficient uPVC solutions.”

As part of VEKA's commitment to innovation, the company plans to introduce new products in the coming years, reinforcing its leadership in the market. With over 200 authorized fabricators across India, including in tier 3 and tier 4 cities, VEKA is targeting growth in these unexplored regions. VEKA plans to invest up to 100 crores in India over the next six years to drive innovation and expansion. The company’s vision is to remain the market leader in uPVC profiles, delivering high-quality, sustainable solutions to meet the growing demands of India's construction and real estate sectors.

VEKA Germany, a global leader in the uPVC profile industry, has successfully acquired 100% ownership of the Company, marking VEKA’s unwavering commitment to the Indian market and its confidence in India’s rapidly expanding construction, real estate, and infrastructure sectors. With VEKA now holding 100% control, following a takeover of the remaining 50% stake previously held by NCL and other shareholders.Since its launch in 2009, the company has become India’s largest producer of uPVC profiles for doors and windows. VEKA holds largest market share across 130 cities, with a strong product portfolio and a revenue of Rs. 442 crores in 2024, maintaining its leadership in the uPVC window and door solutions sector.Andreas Hartleif, CEO, VEKA AG Germany said, “With this strategic takeover, VEKA Germany has reaffirmed its long-term commitment to India, recognizing the country’s immense potential as a hub for innovation, manufacturing, and market growth. This move further strengthens VEKA's leadership in both global and Indian markets. As India’s economy experiences a robust growth, driven by rapid urbanization, an infrastructure boom, and a growing focus on sustainable housing, VEKA is well-positioned to capitalize on the rising demand for uPVC profiles in India. With a targeted CAGR of 15%, VEKA aims to drive market growth while transforming the country’s building materials industry with sustainable, durable, and aesthetically appealing solutions.”Ashven Datla, Chairman of the Company said, “We look forward to a new phase of growth and success in the journey of VEKA in India, as VEKA Germany now assumes 100% ownership of the company. With plans to increase production capacity in line with the projected growth, with facilities that will serve as export hubs to international markets and explore greenfield opportunities, The Company is poised to expand further. Our continued focus on innovation and product development will help meet India’s growing demand for high-quality, energy-efficient uPVC solutions.”As part of VEKA's commitment to innovation, the company plans to introduce new products in the coming years, reinforcing its leadership in the market. With over 200 authorized fabricators across India, including in tier 3 and tier 4 cities, VEKA is targeting growth in these unexplored regions. VEKA plans to invest up to 100 crores in India over the next six years to drive innovation and expansion. The company’s vision is to remain the market leader in uPVC profiles, delivering high-quality, sustainable solutions to meet the growing demands of India's construction and real estate sectors.

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