AJAX Engineering plans new facility in Bangalore

AJAX engineering has acquired a 20-acre land parcel in Bangalore and will invest ₹100 crore to develop a new manufacturing facility there. The company is expecting greater demand for its equipment post lockdown and is likely to get orders from big government infrastructure projects and from the real estate developers in the residential segment. Jagadish Bhat, MD & CEO, informed that the company has acquired land from Karnataka Industrial Areas Development Board (KIADB) at ₹34 crore and will invest another ₹60-70 crore to develop the facility. The concrete equipment player has manufacturing facilities at Doddaballapur and Gowribidanur in the city outskirts. As per the industry players, post lockdown recovery is better-than-expected largely due to incremental order inflows from Tier 2 and Tier 3 cities, wherein the impact of Covid-19 was short-lived and construction activity went back to normal relatively faster. In commercial real estate, new projects are not taking off but the residential segment is doing well. Having missed the deadline, they are in a hurry to complete their projects. The company has over 19,000 equipments at construction sites across the country in various sectors. It has dedicated service centres in Hyderabad, Hubli, Madurai, Raipur, Surat, Faridabad and Ranchi. According to a report by Motilal Oswal Financial Services Limited (MOFSL) in South India, the construction activity is almost back at pre-COVID levels, while in North India it is at 80% of earlier levels.