Aswani Industries, the maker of Ascolite, a prominent construction materials brand, is making a push into the consumer market as it seeks to expand its presence beyond developers and contractors.
The Surat-based company has built a ₹200-crore business supplying Autoclaved Aerated Concrete (AAC) blocks, dry mortar, tile adhesives, and waterproofing products to developers across Maharashtra and Gujarat. Now, it wants to win over consumers with its Ascolite brand.
According to Nitin Lalwani, Chief Operating Officer, Aswani Industries, the company is building the business block by block. “The push into retail began cautiously around 2020,” he said.
Ascolite’s revenue grew from ₹90.41 crore in FY21 to ₹206.74 crore in FY25, with AAC blocks contributing 40% of the business. The company expects to close FY26 with revenues of around ₹215 crore.
The construction materials market is highly competitive, with players like Pidilite Industries and Sika AG dominating the market. Ascolite’s focus on quality products and strong relationships with developers and contractors has helped it establish a strong presence in the market.
Key Highlights- Revenue Growth: ₹90.41 crore (FY21) to ₹206.74 crore (FY25)
– Product Portfolio: AAC blocks, dry mortar, tile adhesives, waterproofing products
– Target: ₹1,000-crore company within five years
– Expansion Plans: Expanding distribution network, building B2C team
Ascolite’s success is attributed to its focus on quality products and strong relationships with developers and contractors. The company’s expansion into retail is expected to drive growth in the coming years.
