As we reflect on 2025, it is hard to ignore the constant drumbeat of negative headlines: elevated geopolitical tensions, ongoing conflicts, trade frictions, and a broader shift toward de-globalisation. Yet, despite this backdrop of uncertainty, global equity markets once again delivered strong returns—another reminder that markets often advance not in the absence of risk, but in spite of it.
Market backdrop and performance
Table 1.
2025 market and fund returns.
Index/Fund
2025 Return
AGV Capital
26.3%
S&P 500
17.9%
MSCI ACWI
22.9%
MSCI China
31.4%
Hang Seng Index
27.8%
Vanguard Total World Stock (VT)
22.4%
All performance figures are calculated using the Time-Weighted Rate of Return (TWR), which eliminates the impact of external cash flows and reflects the pure investment performance of the portfolio.
As the old Wall Street adage goes, the market climbs a wall of worry. In 2025, investors had no shortage of reasons to worry—wars, tariffs, interest-rate concerns, and an uncertain macro outlook—yet markets moved higher as businesses continued to grow revenues, earnings, and cash flows.
China, concentration, and where the real opportunity was
In last year’s annual letter, we laid out a clear, contrarian thesis. We tilted our allocation decisively toward China at a time when the consensus was widely viewed as unattractive by the market. In 2024, we placed approximately 86.0% of the portfolio in Chinese equities. That positioning proved well justified in 2025, as the MSCI China Index delivered a total return of 31.4%—its strongest year in nearly a decade—and significantly outperformed the S&P 500 total return of 17.9%.
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Meanwhile, the S&P 500 itself became even more concentrated. Index levels of concentration reached extremes not seen since the 2000 internet bubble and the roaring 1920s, with the so-called “Magnificent Seven” accounting for roughly 34.0% of the index and contributing about 42.0% of total returns, driven largely by strong investor enthusiasm and momentum around AI-related themes. Excluding the Mag 7, the S&P 500 would have delivered a return closer to 10.0%, roughly in line with the S&P 500 Equal-Weighted Index at 11.0% and Vanguard’s Total US Stock Market Index at around 11.0%.
Figure 1.
Rising impact of the largest 7 U.S. stocks on index returns (1999–2025).
Figure 2.
fiop-7 stock concentration in U.S. market (1920–2025).
Current levels approach 1929 peak, surpassing dot-com era.
In a year when many active US-focused managers struggled to beat a Mag-7-driven benchmark, we delivered a gross return of about 26.3% while deliberately avoiding the US AI bubble and lofty valuations. We stayed anchored to our principles: buying high-quality companies at great valuations. As a result, we outperformed the S&P 500’s 17.9% and the MSCI ACWI Index’s 22.9%. This reinforces an important lesson: earning excellent returns is not about chasing whatever is fashionable; it is about owning great businesses at sensible prices.
China vs. the Magnificent Seven: who really delivered?
In last year’s letter, we compared a basket of leading Chinese large caps to the celebrated US Magnificent Seven and argued that price and sentiment were pointing in opposite directions. In 2025, that thesis played out in real time. On average, our China basket—Alibaba, BYD, Tencent, Baidu, PDD, and JD.com—returned roughly 30.0%, while the US Magnificent Seven as a group delivered about 22.0%.
Few would have expected the supposedly “uninvestable” Chinese names to outpace their highly praised US counterparts, especially in a year when the Mag 7 enjoyed an AI-driven momentum tailwind and investors were convinced they would “change the world.”
Figure 3.
2025 returns: AGV China tech basket vs. Magnificent Seven (total return, %).
AGV China Tech basket outperformed by 8 percentage points.
As the late Charlie Munger put it, the job is to fish where the fish are. For us, that means using our global mandate to go wherever the real opportunities lie—China, the US, or elsewhere—rather than hugging a single index simply because it feels familiar or popular with the crowd.
Looking through the lens of a holding company
We view the fund as a holding company. When we buy a stock, we think of it as owning a slice of a real business—its revenues, earnings, and cash flows—rather than just a ticker on a screen. To make this concrete, we aggregate the underlying fundamentals of every share we own and translate them into revenue, earnings, and free cash flow per fund unit. This approach allows us to judge our performance the way an owner would: through fundamental growth, profitability, portfolio quality, and valuation.
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In 2025, our portfolio companies grew revenues by about 30.1% and earnings by 31.0% in US-dollar terms. In the local currencies in which they report, revenues grew 25.6% and earnings 26.6%, with the difference largely driven by dollar weakness and FX translation effects.
Table 2.
Revenue and earnings growth comparison (YoY).
Source: Morningstar, MSCI & Vanguard YoY refers to year-on year comparisons.
As you will see in the growth tables in the report, our companies delivered outstanding growth—substantially higher than the major indices we consider relevant benchmarks. Our roughly 26.3% gross fund performance for the year came almost entirely from this earnings growth. We did not benefit from multiple expansion; returns were driven by fundamentals, not rising valuations.
Valuation: strong returns without paying up
This lack of multiple expansion is visible when we compare our portfolio’s valuation today with last year’s. Despite the strong performance, our portfolio remains cheaper than, or broadly in line with, last year’s levels on most valuation metrics, and continues to trade at a meaningful discount based on our assessment of underlying fundamentals.
Table 3.
Valuation multiples.
Valuation Multiple
TTM FY 2024
TTM FY 2025
Price-to-Sales
0.9x
0.8x
Price-to-Operating Income
9.9x
10.1x
Price-to-Earnings
11.9x
10.7x
Price-to-Operating Cash flow
5.7x
7.9x
Price-to-Free Cash Flow
7.4x
11.8x
When we set these valuations against those of major indices, the contrast becomes even clearer: our holdings trade at a substantial discount to global indices on earnings, sales, and free-cash-flow measures, while offering higher dividend yield and stronger underlying growth. That combination—better businesses at lower prices—is exactly what we look for.
Table 4.
Portfolio quality: returns on capital and profitability
Valuation is only half the equation; quality matters just as much. In 2025 we improved the quality of the portfolio meaningfully. Our return on equity rose from around 17.8% to over 22.3%, and our return on capital employed increased from roughly 17.0% to just over 20.0%. Internal reinvestment ROIC also improved, showing that incremental capital is being deployed at very attractive rates of return.
Table 5.
Portfolio quality metrics.
When we compare these metrics to the major indices, the gap is evident. Across Return on Equity, Return on Capital Employed, and Return on Invested Capital, our portfolio companies earn meaningfully higher returns on capital than the broad indices, highlighting both superior business quality and better capital allocation.
Table 6.
Profitability comparison.
Geographic allocation: China still leads, diversification expanded
Our current geographic exposure compared with last year reflects both conviction and select diversification. We reduced our China exposure from the mid-80s to the high-70s and introduced two new regions—Denmark and Brazil—where we found exceptional businesses that meet our criteria. The US allocation also increased modestly as select opportunities emerged at reasonable valuations. We remain willing to go wherever the risk-reward profile is most attractive, rather than sticking to any home-market bias. The table & chart below summarizes our geographic allocation at year-end.
Figure 4.
Table 7
Geographic allocation
In addition to geography, we also manage diversification by business model and sector. The chart below shows our sector allocation as of year-end and comparison of last year, highlighting where we are finding the most compelling opportunities today.
Figure 5.
Sector allocation – year-on-year comparison (% of portfolio).
TTM = trailing twelve months
Putting it all together
We approach public markets with the mindset of business owners. Investing, to us, is akin to owning a family business: you focus on the long term, the durability of the model, the integrity and alignment of management, and the price you are paying relative to intrinsic value.
Our strategy is simple but demanding in practice:
Own high–quality companies with durable competitive advantages.
Partner with management teams whose incentives are aligned with shareholders.
Pay prices that build in a margin of safety.
Look globally, not locally, for the best mix of quality and value.
In 2025, our companies grew earnings by more than 30.0%, trade at valuations that remain well below global market averages, and exhibit higher returns on capital than the indices. This combination drove approximately 26.3% growth in the fund, allowing us to outperform the benchmarks while still leaving what we estimate to be roughly 30% undervaluation in the portfolio. If valuation gaps were to narrow and our holdings were to move closer to assessed fair value, this would imply meaningful upside potential, before considering any additional fundamental growth.
On top of this, our portfolio offers an estimated total shareholder yield of about 4.8%, combining a 2.9% dividend yield with 1.9% buyback yield. Even without assuming incremental growth, a convergence toward fair value would, in such a scenario, represent a material contributor to forward returns over time.
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We are very optimistic about our holdings. We believe the companies we own are high quality, attractively valued, and well diversified by business model and geography. We also believe deeply in alignment: we invest alongside you in the fund, and I have personally increased my investment, reflecting my conviction in the opportunity ahead.
We hope this report gives you the clarity we would want if the roles were reversed and we were in your seat as shareholders. As always, thank you for your trust.
European shares extended their decline on Tuesday as the global equity selloff deepened, as investors grappled with the prospect of a drawn-out Middle East war, and a sharp jump in oil prices led to fears of a rise in the cost of living.
The pan-European STOXX 600 was down 1.3% at 615.72 points by 0804 GMT, after closing at the lowest level in more than two weeks on Monday.
The utilities index and banks led sectors lower with 2.6% declines each, while energy climbed marginally, adding to the previous session’s gains.
U.S. President Donald Trump sought to justify a broad, open-ended war on Iran, saying the stated aims of the conflict had shifted.
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An official from Iran’s Revolutionary Guards said the Strait of Hormuz is closed and any vessel trying to pass would be targeted, pushing up global oil and gas shipping rates.
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European Central Bank Chief Economist Philip Lane told the Financial Times a long war could massively put upward pressure on inflation and reduce growth rate in the euro zone. Among individual stocks, Thales gained 0.7% after the French aerospace and technology firm reported a slightly higher-than-expected annual core profit.
The UK’s competition watchdog has launched a formal investigation into three of the world’s largest hotel groups, Hilton, InterContinental Hotels Group and Marriott International, over concerns they may have shared “competitively sensitive” information through a third-party data analytics platform.
The Competition and Markets Authority (CMA) said it is examining whether the hotel operators exchanged commercially sensitive data using STR, a widely used industry benchmarking tool owned by CoStar Group.
Hotel chains routinely use analytics platforms such as STR to track industry metrics including occupancy rates, average daily room prices and revenue per available room (RevPAR). Such tools can help operators adjust pricing in response to demand and competition.
However, the CMA warned that where rival businesses share competitively sensitive information, even indirectly through a third-party provider, it may reduce uncertainty between competitors and risk softening competition.
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“When rival businesses share competitively sensitive information, including through a third-party data analytics provider, this reduces the uncertainty competing businesses normally have about how each other will act,” the regulator said.
“This can affect how strongly companies compete because it makes it easier for them to predict what each other will do and coordinate their behaviour.”
The watchdog will now spend up to six months gathering evidence before deciding whether to issue a formal statement of objections.
At this stage, the CMA stressed that no conclusion has been reached and no assumptions should be made about whether competition law has been breached.
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Shares in London-listed IHG fell by as much as 5 per cent in early trading on Monday, although the wider travel sector was also under pressure due to geopolitical tensions in the Middle East.
In the US, Hilton and Marriott shares each fell around 3 per cent, while CoStar, which has a market value of more than $18 billion, dropped approximately 2 per cent.
IHG and Hilton both confirmed they were cooperating fully with the CMA’s investigation. CoStar said it was surprised by the regulator’s interest in what it described as a “longstanding hotel data analytics and benchmarking platform” that has been used by companies and government bodies for decades.
Marriott did not immediately respond to requests for comment.
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If the CMA concludes that competition rules have been breached, it has the power to impose fines of up to 10 per cent of a company’s global annual turnover.
The regulator can also offer immunity or reduced penalties to companies that report cartel activity early and cooperate with investigations.
The probe forms part of the CMA’s broader scrutiny of how digital tools and algorithms are used in pricing decisions across sectors.
The watchdog has increasingly focused on the intersection of competition law and technology, warning that algorithmic pricing systems, while potentially efficiency-enhancing, must not facilitate anti-competitive coordination.
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The hospitality investigation comes amid a series of high-profile competition cases in recent years.
In November, the CMA opened investigations into eight companies over online pricing practices. Last year, seven major UK housebuilders agreed to contribute £100 million to affordable housing initiatives after the regulator found evidence of information sharing that may have affected competition.
The latest case underscores growing regulatory concern that data-sharing arrangements, even when mediated through analytics providers, could blur the line between legitimate benchmarking and unlawful coordination.
For the hotel sector, the outcome of the investigation could have significant implications for how pricing data is shared, analysed and used across the industry.
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Jamie Young
Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.
When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.
The regeneration project aims to bring more leisure and hospitality facilities to the city
12:33, 03 Mar 2026Updated 12:40, 03 Mar 2026
Proposals include commercial spaces and workspaces(Image: Swansea Council)
Plans to transform Swansea’s landmark Civic Centre on the seafront have taken a major step forward, with Swansea Council’s cabinet giving the go-ahead for further work to take place which will help inform a future planning application.
The redevelopment, led by the council’s regeneration partners Urban Splash, aims to bring cafes, bars, shops, apartments, workspaces, and leisure areas to the largely vacant building. Proposals include 15 commercial units on the ground and lower floors, around 140 apartments above, and unique attractions such as an aquarium and a saltwater lido.
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Set in a prime coastal location, the civic centre occupies one of the most enviable plots in the city – a space many believe holds money-can’t-buy views and untapped potential.
The regeneration plans were unveiled at a two-day public exhibition held earlier this month at the Y Storfa community services hub. According to organisers, the response had been overwhelmingly positive, with strong public interest in what could become one of Swansea’s most ambitious redevelopment projects in a generation.
Council leader Cllr Rob Stewart said the project marks the first phase of a wider vision for the Civic Centre site. “The Civic Centre sits on one of the most spectacular waterfront sites in the UK, but the building is now largely vacant following the successful move of services into the city centre,” he said.
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“We want to see it transformed into a vibrant destination with new homes, independent businesses, leisure and community spaces that will benefit local people while attracting more visitors to Swansea.” Never miss a Swansea story by signing up to our newsletter here
David Warburton, Development Director at Urban Splash, added: “It’s an extraordinary building in an unrivalled waterfront location, and we see enormous potential to create a place that people will want to live in, visit and spend time in.
“Our ambition is to sensitively repurpose the building, delivering high-quality homes alongside dynamic spaces for independent businesses, hospitality, leisure and community uses – creating activity throughout the day and into the evening.”
Many council services that were previously based at the Civic Centre have now moved to the Y Storfa community services hub on Oxford Street. This includes the central library, contact centre, revenues and benefits, and the West Glamorgan Archive Service.
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The Civic Centre redevelopment represents the first step in Swansea Council’s broader plan to strengthen the city’s waterfront as a leading destination.
The city centre has already seen significant investment in recent years, with projects such as the indoor arena and the privately-led restoration of the Albert Hall expanding cultural and leisure offerings. Retail also continues to perform well in some areas, while empty upper floors of commercial units are being converted into flats, potentially boosting footfall for local businesses.
Tuya Inc. (TUYA) Q4 2025 Earnings Call March 2, 2026 7:30 PM EST
Company Participants
Xuechen Wang Xueji Wang – Founder, Co-Chairman & CEO Yi Yang – Co-founder, COO, CFO & Executive Director
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Conference Call Participants
Yang Liu – Morgan Stanley, Research Division Timothy Zhao – Goldman Sachs Group, Inc., Research Division Mingran Li – China International Capital Corporation Limited, Research Division Matt Ma – Jefferies LLC, Research Division
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Presentation
Operator
Good morning, and good evening, ladies and gentlemen. Thank you for standing by, and welcome to Tuya Inc.’s Fourth Quarter and Fiscal Year 2025 Earnings Conference Call. [Operator Instructions] Please be informed that today’s conference is being recorded.
I’ll now turn the call over to your first speaker today, Ms. Regina Wang, Investor Relations Associate Director of Tuya. Please go ahead.
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Xuechen Wang
Thank you, operator. Hello, everyone. Welcome to our fourth quarter and fiscal year 2025 earnings call. Joining us today are our Founder and CEO, Mr. Jerry Wang; and our Co-Founder and CFO, Mr. Alex Yang. The fourth quarter and fiscal year 2025 financial results and webcast of the conference call are available at ir.tuya.com. A replay of this call will also be available on our IR website in a few hours.
Before we continue, I refer you to our safe harbor statement in our earnings press release, which applies to this call as we will make forward-looking statements.
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With that, I will now turn the call over to our Founder and CEO, Mr. Jerry Wang. Jerry will deliver his remarks in Chinese, which will be followed by a corresponding English translation. Jerry, please?
Xueji Wang Founder, Co-Chairman & CEO
[Interpreted]
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Hello, everyone. Thank you for joining Tuya’s earnings call for the fourth quarter 2025. In 2025, against the complex and evolving external environment, we maintain stability across our platform business, delivered steady full year
Sign at the main entrance to a Best Buy store in Venice, Florida.
Erik McGregor | Lightrocket | Getty Images
Best Buy posted mixed results on Tuesday as the retailer’s holiday-quarter sales declined and missed Wall Street’s expectations, but its earnings topped estimates as it showed improved profitability.
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For the current fiscal year, the consumer electronics retailer expects revenue to range between $41.2 billion and $42.1 billion, compared with $41.69 billion in the most recent fiscal year. It expects adjusted earnings per share to range from $6.30 to $6.60, after it reported adjusted earnings per share of $6.43 for the previous fiscal year.
Best Buy anticipates that comparable sales, a metric that tracks sales online and in stores open at least 14 months, will range from a decline of 1% to an increase of 1%.
In a news release, CEO Corie Barry said demand for consumer electronics remained lackluster during the gift-giving season, but the company’s internal data indicates that Best Buy’s market share in the industry “was at least flat.”
Chief Financial Officer Matt Bilunas said in his own statement that the company is “excited about the momentum in our business.” But he added that company leaders “expect to continue to navigate a mixed macro environment.”
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Shares jumped more than 10% in premarket trading.
Here’s how the retailer did for the fiscal fourth quarter compared with what Wall Street was expecting, according to a survey of analysts by LSEG:
Earnings per share: $2.61 adjusted vs. $2.47 expected
Revenue: $13.81 billion vs. $13.88 billion expected
In the three-month period that ended Jan. 31, Best Buy’s net income jumped to $541 million, or $2.56 per share, from $117 million, or 54 cents per share, in the year-ago quarter. Excluding one-time expenses, including charges for its health business, Best Buy reported adjusted earnings per share of $2.61.
Revenue decreased from $13.95 billion in the year-ago quarter. Yet on an annual basis, revenue rose to $41.69 billion from $41.53 billion in the prior fiscal year. Best Buy’s annual revenue declined in the three previous fiscal years.
For about four years, Best Buy has pinned its slower sales on more price-sensitive U.S. consumers, a slower housing market and less tech innovation. All of those factors have caused some shoppers to delay tech purchases, particularly big-ticket items like new refrigerators. Higher tariffs have also added costs for Best Buy, since many consumer electronics are imported.
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Comparable sales dropped 0.8% in the fourth quarter as the company saw softer sales of appliances and home theaters. Those declines were partially offset by sales growth in computing and mobile phones, the company said.
Best Buy has leaned into more profitable businesses, including selling ads and offering more merchandise through its third-party marketplace, which launched in August. Barry said in the company’s news release that Best Buy’s advertising partners nearly doubled compared to the prior year and she said the retailer has significantly increased the number of available products on the marketplace.
The company has a scheduled earnings call at 9 a.m. ET.
Japanese shares fell at the sharpest pace in months on Tuesday, as investors remained on edge for a second straight day following the U.S.-Israeli strikes on Iran.
The Topix slumped 3.2% to 3,772.17, the fastest decline since April, while the Nikkei declined 3.1% to close at 56,279.05, the biggest drop since November last year, after falling as much as 3.4%.
“Ongoing gains in crude oil futures on worsening Middle East tensions, together with a stronger U.S. dollar and weaker yen, are fuelling views that inflation could accelerate,” said Maki Sawada, a strategist at Nomura Securities.
“This uncertainty, seen as potentially impacting future monetary policy, is weighing on the equity market overall.”
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The U.S.-Israeli air war against Iran escalated with no end in sight, as Israel struck Lebanon in response to Hezbollah attacks and Tehran continued launching missiles and drones at Gulf states hosting U.S. military bases.
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All 33 industry subindexes on the Tokyo bourse were down, led by a 5.5% fall in the oil and coal sector followed by a 5.4% decline in the transport equipment industry. Toyota Motor, the world’s largest automaker by sales, dropped 6.1%, the sharpest drop since September 2024, while Japan’s largest airline, ANA Holdings, fell 3.3%. ENEOS Holdings, Japan’s biggest refiner, lost 6.3%, the sharpest drop since April.
The largest percentage decliner, though, had nothing to do with the Middle East tensions.
Sumitomo Pharma tanked 19.1%, the biggest fall in nearly 12 years, as investor concerns over a new share issuance outweighed an upward revision to its full-year net profit forecast for the current fiscal year.
There were 219 decliners on the Nikkei index against six advancers.
Shop price inflation slowed more than expected in February, offering households tentative relief from cost-of-living pressures as retailers stepped up discounting and global food prices eased.
New data from the British Retail Consortium (BRC) and NielsenIQ showed shop prices rose 1.1 per cent year-on-year in February, down from 1.5 per cent in January. The deceleration reflects intensified competition across both food and non-food sectors, with retailers cutting prices to stimulate demand amid weak consumer confidence.
The figures come ahead of the spring statement, when the Office for Budget Responsibility is due to update its outlook on growth and public finances. They add to recent signs that inflationary pressures are moderating, after official data showed UK consumer price inflation fell sharply to 3 per cent in January, moving closer to the Bank of England’s 2 per cent target.
Food prices remain elevated but are increasing at a slower pace. Annual food inflation eased to 3.5 per cent in February from 3.9 per cent the previous month. Fresh food inflation edged lower, while ambient food inflation, covering products such as coffee, pasta, canned goods and other cupboard staples, fell to 2.3 per cent, its lowest level in four years.
The BRC said lower global commodity costs were filtering through supply chains, helping to stabilise grocery prices. However, it emphasised that competitive dynamics were playing a crucial role, particularly in discretionary categories such as fashion, health and beauty.
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Prices for non-food items, including clothing, electronics and household goods, declined by 0.1 per cent year-on-year, compared with 0.3 per cent growth in January. Heavy promotional activity in fashion and personal care, coupled with softer demand due to unseasonal weather and fragile sentiment, contributed to the decline.
Helen Dickinson, chief executive of the BRC, described the slowdown as a “welcome relief” but warned that pressures had not disappeared. She noted that while the pace of price rises is moderating, many households continue to feel strain from higher cumulative costs over the past three years.
Mike Watkins, head of retailer and business insight at NielsenIQ, said pricing behaviour had shifted notably since the start of the year. “Competitive pricing across both food and non-food is helping to bring down inflation,” he said, though he cautioned that demand remains unpredictable as shoppers continue to prioritise essentials and trade down to value options.
The easing in shop price inflation follows a mixed economic backdrop. The government recently reported a record £30.4 billion budget surplus in January, driven by strong tax receipts and lower debt interest payments. Retail sales also surprised on the upside. However, unemployment has climbed to a five-year high and economic growth remains sluggish, tempering optimism.
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Retailers have also flagged potential future cost pressures. The upcoming implementation of the Employment Rights Act and higher employment costs could increase operating expenses later this year. Industry leaders warn that if secondary legislation raises labour or compliance costs significantly, businesses may be forced to pass some of those increases on to consumers.
For now, the slowdown in shop price inflation suggests that competitive retail markets and easing global input costs are helping to cushion households. Whether that trend continues will depend on energy prices, wage dynamics and the broader economic outlook in the months ahead.
Jamie Young
Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.
When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.
Realty firm Gaurs Group will invest Rs 100 crore to set up a precast manufacturing plant in Greater Noida as part of its strategy to strengthen construction capabilities through backward integration.
In a statement on Monday, the company said it has signed a Memorandum of Understanding (MoU) with Elematic India, an arm of Finland-based Elematic Group, for sourcing of precast concrete technology.
The MoU was signed on February 19, 2026, in the presence of Petteri Orpo, Prime Minister of Finland and also the Ambassador of Finland Kimmo Lahdevirt.
The agreement was formalised between Veshesh Gaur, Director of Gaurs Group, and Chander Dutta, MD of Elematic India and Teppo Voutilainen, CEO of Elematic Oyj, Finland.
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Under the agreement, Gaurs Group will invest Rs 100 crore to set up a precast manufacturing plant in Greater Noida.
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The facility, spread over 5 acre land, will manufacture advanced precast concrete components that would include slabs, columns, beams and walls. The plant is expected to be operational within six months. Gaurs Group has also placed an advance order to Jindal Elematic, Alwar to supply 45,000 units of modular bathrooms and 10,000 units of kitchen pods for its under-development projects.
The order book is worth Rs 150 crore.
The company intends to integrate technology-led construction practices to improve execution efficiency and reduce project timelines by almost 30 per cent.
Precast construction enables key structural and utility components to be manufactured and assembled off-site in a controlled environment and installed on-site.
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Veshesh Gaur said, “Construction technology is becoming increasingly important as the scale and complexity of residential developments continue to grow. Our partnership with Elematic will enable us to integrate advanced precast manufacturing into our construction processes, improving efficiency, quality control and project timelines.”
Gaurs Group is one of the leading real estate developers in Delhi-NCR. It has developed many townships, Group housing and commercial projects.
