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Founded in 2016 by Aaditya Sharda and Souvik Sengupta, Infra.Market has expanded its operations since. It now operates across more than ten thousand retail points and flagship stores. The company has seen substantial growth in its financial performance, reporting a six-fold increase in net profit to ₹185.9 crore (INR100 crore = approx. USD12 million) and a 404% increase in revenue to ₹6,285 crore for the financial year 2022. These figures are partly attributed to products sold under its own brand as well as those from its investments, including Shalimar Paints Ltd.
The sale of the RDC Concrete stake follows Infra.Market’s acquisition of the company from True North for $90 million in 2021. Since then, RDC Concrete has doubled its number of plants under CEO Anil Banchhor’s leadership, growing from 49 to approximately a hundred. With plans to expand up to 180 plants, RDC Concrete is on a robust growth trajectory.
Following funding from Varde Partners in June, Infra.Market’s revenue reached ₹11,100 crore for FY23. The company is targeting up to a 40% growth for FY24. RDC Concrete is also expected to double its revenue by the close of FY24, reaching ₹2,000 crore since its acquisition.
Backed by prominent investors such as Tiger Global and Accel, Infra.Market continues to strengthen its position in the industry with a House of Brands strategy. This includes stakes in companies like Strata Geosystem and Shalimar Paints.
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