Aeroflex Industries Ltd has paid Rs. 5,11,00,000/- (Rupees Five Crore Eleven Lakhs only) for a land block spanning 79,061 square feet adjacent to its current factory location.

The extra acreage will be used to increase capacity.

The company intends to raise its installed capacity from 11 million metres per year to 13.5 million metres per year by modernising and upgrading machines and importing new machinery and equipment.

The company also intends to phase in automated and robotic production lines.

This capacity expansion is projected to be completed by March 31, 2024, at a cost of approximately Rs 48 crore, which will be paid by internal accruals.