The Group explored new alternatives for diversification and found engineered quartz stones at exhibitions. Intrigued, they started a complete research of the product and performed world market analysis to grasp its potential and traits. This helped them in evaluating the demand, competitors, and potential purposes of engineered quartz stones within the luxurious phase, says Ankit Jain, Founding father of Specta Quartz Surfaces, a luxurious model specialising in engineered quartz surfaces. “Globally, the market is big, and it’s a very well-accepted product,” provides Jain.
The worldwide quartz market, estimated at $7.62 billion in 2025, is anticipated to develop at a CAGR of 4.19% to achieve $9.35 billion by 2030. The Indian quartz market is projected to develop at a CAGR of 8.4% to achieve $2,462 million by 2026.
“We noticed a possibility to enter a brand new product line, leveraging export markets to kickstart progress whereas concurrently investing within the Indian market to construct our model. This technique allowed for a helpful synergy between worldwide enlargement and home growth,” says second-generation entrepreneur Jain.
As these luxurious tasks proceed to develop in quantity, there’s a rising demand for luxurious inside supplies like quartz surfaces for kitchen and washroom counter tops and wall cladding, says Jain. The entrepreneur recognized a possibility out there for high-quality quartz surfaces, notably these manufactured utilizing Italian expertise, which is most well-liked by discerning patrons for its superior high quality and sturdiness in comparison with Chinese language alternate options.
Ankit leveraged his manufacturing experience and constructed India’s first manufacturing facility with the Italian Bretonstone expertise within the Bagru Industrial Space, Jaipur, Rajasthan. For the uninitiated, Bretonstone is the gold normal in engineered quartz manufacturing worldwide. This Italian expertise allows the creation of extremely sturdy, design-consistent, and hygienic quartz surfaces that are perfect for fashionable dwelling areas.“We have been solely the third firm in India to take action and the primary to focus a lot on the Indian market. This choice has paid off, as Specta’s designs at the moment are a benchmark within the business,” says Jain.India’s luxurious housing market
The expansion of luxurious actual property and consumption in India has fuelled the demand for high-end dwelling merchandise, says Jain. As folks make investments extra of their houses, particularly kitchens and bogs, the marketplace for premium supplies like quartz surfaces has naturally expanded, providing an opportune time for manufacturers like Specta Quartz Surfaces to capitalise on this pattern, provides Jain.
Luxurious housing models priced above Rs 1.5 crore account for round 17% of latest residential launches in India, in response to ANAROCK Analysis’s 2024 knowledge. The luxurious houses priced over Rs 1 crore dominated gross sales in 2024, crossing the 50% mark.
Specta is planning to open six unique expertise centres, together with flagship areas in Mumbai, Jaipur, and Ahmedabad.
The Jaipur-based MSME has made strides within the stone surfaces market, efficiently catering to high-end clients looking for premium constructing supplies. It has achieved practically Rs 150 crore in income inside simply three years. The corporate additionally provides its merchandise to the Center East.
The value of Specta’s merchandise ranges from Rs 500 per sq ft to Rs 2,000 per sq ft relying on design intricacies and hues.
“Our turnover (income) has steadily grown from Rs 23 crore in 2022-23 to Rs 90 crore in 2023–24, with an EBITDA of Rs 4 crore. The provisional figures for 2024-25 present continued momentum, with turnover reaching Rs 145 crore, underscoring sturdy demand, strategic execution, and improved profitability,” says Jain. Over the subsequent one yr, Specta is anticipating a income of Rs 300 crore.
Specta Quartz Surfaces is working to spice up capability by year-end and goals for 50% year-on-year income progress over the subsequent three years. To drive this enlargement, the corporate is launching six unique expertise facilities, with flagship areas in Mumbai, Jaipur, and Ahmedabad, as a part of its strategic retail progress plan.
How is the sector positioned?
Aarti Harbhajanka, Co-founder, CHRO & MD, Primus Companions, says that India’s luxurious market, together with premium constructing supplies like engineered quartz surfaces, is rising steadily as a result of rising disposable incomes, urbanisation, and demand for high-end interiors. “The engineered quartz phase is anticipated to broaden at a compound annual progress fee (CAGR) of 8-12% over the subsequent 5 years, pushed by actual property growth and an growing desire for sturdy, aesthetically pleasing surfaces, provides Harbhajanka.
Nonetheless, Harbhajanka cautions that India’s engineered quartz market additionally faces hurdles like worth sensitivity as a result of competitors from reasonably priced alternate options comparable to ceramics and laminates. Moreover, the business struggles with excessive import dependency on uncooked supplies and shopper desire for conventional marble, she says.
The Jaipur-based MSME has made strides within the stone surfaces market, efficiently catering to high-end clients looking for premium constructing supplies.
“Logistics complexities, contemplating the load of the quartz and sustainability considerations round silica sourcing and carbon emissions, could add additional hurdles. Nonetheless, producers are countering these points by localised manufacturing and eco-friendly improvements,” provides Harbhajanka.
Specta’s working mannequin
Specta’s enterprise mannequin leverages partnerships with architects, designers, and builders, whereby Specta, based in 2022, integrates its premium surfaces into luxurious residences, industrial areas, and hospitality tasks. Additionally, it has just lately expanded into retail and direct-to-consumer gross sales for its subsequent part of scaling.
Specta operates in 80 tier-II and tier-III cities throughout India, supported by a sturdy community of roughly 60 distributors and 300 sellers. Our enterprise follows a B2B mannequin, whereby we dispatch merchandise from our manufacturing unit on to our distributor community, who then deal with native logistics and last-mile supply.
“Whereas our transactions are B2B, over 95% of our gross sales cater to retail owners, facilitated by our supplier ecosystem. Our gross sales crew additionally works carefully with kitchen installers, architects, and designers who act as key influencers, serving to get our merchandise laid out in premium residential and industrial tasks,” says Jain.
The corporate additionally companions with modular kitchen manufacturers like Livspace, Spacewood, Arancia, and Nolte, who showcase its quartz surfaces of their showrooms.
“When clients place orders, our distributors deal with fulfilment. In the meantime, our enterprise growth crew collaborates with these kitchen installers and designers in main cities to pitch and showcase our merchandise,” he provides.
Nonetheless, Jain agrees that the product continues to be at a really nascent stage in India. However he’s hopeful an increasing number of folks will entry the product since folks’s spending energy in India has elevated over time.
Greater than the spending energy, the willingness to spend has elevated, says Jain. “With luxurious kitchens starting from Rs 25 lakh to Rs 1.5 crore, high-end customers aren’t glad with fundamental supplies like granite. Manufacturers like Nolte and Livspace cater to this demographic, the place premium quartz surfaces develop into a pure alternative for these investing in high-end kitchen designs,” provides Jain.
Enlargement plans
Specta, which has thus far managed its working capital totally by financial institution credit score, is planning to open six unique expertise centres, together with flagship areas in Mumbai, Jaipur, and Ahmedabad.
“This is part of our retail enlargement technique and can assist us deliver our merchandise nearer to clients in high-demand areas. Moreover, we’re additionally banking on the rising luxurious actual property market in tier-II and tier-III cities to broaden our buyer base inside the luxurious home-owner phase in these areas,” says Jain.
The corporate has additionally invested in a brand new manufacturing plant, which is able to develop into operational by the top of the yr. “This plant will improve our capability by virtually 150%, and will probably be able to producing super-jumbo slabs and ultra-thin 7mm slabs with distinctive design prospects. This development will open new purposes past conventional surfaces, reinforcing Specta’s place as an business chief in innovation and design,” provides Jain.
