An offsite modular construction

company based in India


Red Ribbon Asset Management Plc introduces a signature, revolutionary project.

Red Ribbon is setting up the World’s Largest and India’s First Steel Modular Building Factory – Modulex. Here is a project that aims to harness the potential of an emerging, dynamic market like India, and support its growing need with a practical and profitable solution for its construction.

Red Ribbon Asset Management is an international asset management company committed to responsible wealth generation. It invests in and incubates greenfield project in India that are scalable and topical to the Indian economy. All Red Ribbon projects are committed to the three pillars of sustainability – Planet, People and Profit.

“Modulex will bring highly advanced and sophisticated technologies from the developed half of the world and apply it to growth markets. We believe that Modulex also has the unique ability to place the investor at a vantage point, and successfully tap the pulse of the Indian market. This is an exciting time and a great opportunity for all investors looking to make an impact in the world’s second fastest growing economy.”

Paul Rodker
Chairman, Red Ribbon Asset management Plc



Suchit Punnose


Ajay Palekar

Chief Operations Officer


Modulex Modular Buildings Plc is setting up India's first full fit-out steel modular buildings factory led by senior management team from the UK.

Short Build Time

90% Built Offsite

Factory Built

Fixed Cost Guarantee

Fixed Time Guarantee

30% Cheaper to Maintain

British Standard Codified

Fully Mortgageable

Earthquake Resistant

Up To 24 Floors

First Factory

Salient Features

1. The four production lines will have annual capacity of 200,000 sqm operating on an 8 hour shift 5 days a week for eleven months.

2. Illustrative annual output: twenty 100 rooms hotels plus a thousand residential or office buildings of 1,000 sqft  each or accommodation for 2,000 hospital beds

3. Set in 40 acre site in Indapur, Pune District, 250 Kms from Mumbai

4. Land bought from Maharashtra Industrial Development Corporation, a state run developer of industrial estates with guaranteed water and electricity.

5. Construction has commenced and completion of the factory facility is expected to be completed by Q4 2022.

Progress so far