Autolite India Ventures into Real Estate Sector
Established in 1970, Autolite India has been a prominent player in designing, manufacturing, and marketing automotive lighting products globally. The company has experienced remarkable growth through its innovative products offered at competitive prices. Notably, Autolite India is among the few worldwide that boast state-of-the-art facilities, including:
- Computerized Photometry Testing Equipments
- CNC, CAD, CAM design, and Tool manufacturing facilities
- Utilization of Catia and Pro-E Softwares
- A testing laboratory recognized by the Govt. of India
Strategic Diversification into Real Estate
The board of directors has made a strategic decision to diversify into the lucrative real estate and retail segments, capitalizing on the vast potential for growth in these markets.
Exploring Avenues in Real Estate
A high-level committee has been constituted to explore opportunities in the real estate sector, focusing on:
- SEZ (Special Economic Zone) Projects: Leveraging incentives for export-oriented units.
- IT Park Developments: Catering to the burgeoning IT and ITES sector.
- Commercial Complexes: Building modern spaces for retail, entertainment, and offices.
- Residential Complexes: Developing living spaces tailored to various demographics.
Market Reaction
Consequent to this announcement, Autolite India's shares witnessed a notable increase, gaining Rs 0.75 (1.74%) to trade at Rs 43.75 at the BSE (as of 11:36 a.m., Monday), with a total volume of 710 shares traded.