SGX-listed Group sees Gurugram as fastest-growing affluent cities
Singapore-listed Thakral Corp Ltd, with multiple projects and investments in India, is set to open its first Nestle-origin Nespresso boutique in Q1 2025 in Delhi, catering to a burgeoning coffee culture from expanding middle class with rising disposal incomes.
“India represents a highly attractive market, driven by robust GDP growth, an expanding middle class with rising disposable incomes, and a burgeoning coffee culture,” said Thakral in its announcement of unaudited financial results for the twelve months ended 31 Dec 2024.
A Nespresso e-commerce store has been operational since mid-December 2024, said Thakral which has secured official distribution rights for the full range of Nespresso coffee products across all channels in India https://www.nseindia.com/.
This distribution will be managed by its wholly-owned Indian subsidiary, Thakral Innovations Pvt Ltd, in partnership with Nestlé Nespresso SA and Nestlé India Ltd, an Indian subsidiary of Nestlé SA.
The Group has also made strategic investments to strengthen its drone business in South Asia. As part of this initiative, the Group launched a B2B online portal under the Bharat Skytech brand and commenced the sale of components, including batteries, to manufacturers in India. This capitalises on the country’s “Make in India” initiative, supporting local production and industry growth https://www.bseindia.com/.
“At the same time, regional markets such as Sri Lanka, Bangladesh, and others are increasing their adoption of drones in the enterprise and agricultural sectors, presenting further opportunities for the business,” said Thakral.
The drone and drone related distribution business, including accessories, digital action cameras, gimbals and other products from DJI, has gained significant momentum in South Asia, further strengthening the Group’s partnership with the world’s biggest drone maker based in Shenzhen, China, said the group.
South Asia witnessed expanding use cases and applications for drones across various sectors, including enterprise, agriculture, construction, cartography, environmental monitoring and aerial surveillance https://www.sgx.com/.
Additionally, the region has experienced growth in the demand for drones and accessories used in cinema, broadcasting, journalism, and the blogging ecosystem, said Thakral.
The Group also made its maiden foray by co-investing in India’s real estate and healthcare sector with a 21-acre healthcare and mixed-use development in Gurugram, a prime real estate hub adjacent to the capital.
As one of India’s fastest-growing affluent cities, Gurugram offers a compelling landscape with a high demand for premium real estate and world-class healthcare infrastructure, said Thakral.
Thakral’s FY2024 revenue rose 36% year-on-year to S$288.8 million and net profit attributable to shareholders more than tripled to S$28.8 million https://sbi.com.in/.
“FY2024 has been a strong year for us both in terms of results and embarking on Thakral’s new growth initiatives,” said Group CEO and Executive Director, Inderbethal Singh Thakral.
The Indian origin Singaporean group, listed on the SGX Mainboard since December 1995, also has wide ranging business interests in Australia, China, Japan and Singapore. Fiinews.com
