Magicrete
has been at the forefront of modern construction technology in India for the
past decade, contributing significantly to the 'Housing for All' initiative
Magicrete, one of India's
frontline producers of AAC Blocks, Construction Chemicals, and Precast
Construction Solutions, has completed the acquisition of a majority stake in
Maxlite, a leading AAC Blocks manufacturer located in South India,
headquartered in Bengaluru. Maxlite operates two AAC Blocks manufacturing
facilities, one in Karnataka and the other in Tamil Nadu, boasting a combined
annual capacity of 500,000 cubic meters. This strategic acquisition further
solidifies Magicrete's dominant position in the AAC Blocks industry, elevating
its total installed capacity to 1.8 million cubic meters per annum, and
establishing it as the industry leader.
AAC Blocks serve as
resource-efficient alternatives to traditional red clay bricks, offering
superior thermal insulation and reducing construction time and structural load.
They are approximately ten times larger than clay bricks and are manufactured
using waste fly ash, thereby consuming 70% less energy. The increasing adoption
of AAC Blocks in recent years has been instrumental in promoting
energy-efficient construction practices.
Sourabh
Bansal, Co-founder and Managing Director of Magicrete said,
" This strategic move marks a significant leap in our pan-India growth
trajectory. We are highly optimistic about the myriad opportunities, and the
synergies between the two companies that will unfold in the near future. This
acquisition not only solidifies our leadership in the industry but also ushers
access to new high-potential geographies of Southern India. We as a company now
have the ability to serve from Kashmir to Kanyakumari.”
R
Darshan Kumar, Managing Director, Maxlite, will be spearheading the operations
in South India. “Maxlite, as one of the first AAC plants in
Bangalore, brings a history of innovation to the table. The expansion plans in
south India further enhance the strategic synergy between two industry leaders,
combining Magicrete's stronghold in the North and West with Maxlite's
pioneering position in the South. The joint entity aims to capitalize on
regional strengths, leveraging collective expertise and resources to solidify
their market dominance” says Kumar.
Magicrete has been at the
forefront of modern construction technology in India for the past decade,
contributing significantly to the 'Housing for All' initiative through the
provision of innovative yet affordable construction materials. The company is
spearheaded by a team comprising graduates from prestigious institutions such
as IIT Kharagpur, IIT Delhi, and IIM Lucknow and is backed by notable investors
including Motilal Oswal Private Equity, India SME, and Mukul Agrawal.
