Belgaum (or Belagavi) has earned the moniker Sugar Bowl of Karnataka due to its remarkable agricultural contributions. Beyond its agricultural significance, Belagavi has established itself as a hub for industrial growth within India. The presence of major companies has not only spurred economic activity but has also driven an increased demand for housing and improved infrastructure. Given these factors, it’s evident that the city’s real estate sector is on a path of sustained growth in the foreseeable future.
In this article, we will delve into the top companies in Belgaum and explore their substantial impact on the city’s business landscape. Furthermore, we will examine how these companies are shaping the evolving real estate sector in this dynamic district.
Business landscape in Belgaum
Belgaum boasts a vibrant and diverse business landscape that holds strong appeal for potential investors. This city has experienced rapid economic growth due to its strategic location and entrepreneurial spirit. Belgaum plays a vital role as a trading centre for a wide range of commodities, including food grains, sugarcane, cotton, tobacco, oilseeds, and dairy products. Its industrial diversity encompasses sectors like leather, clay, pottery, textiles, metallurgy, and a thriving Powerloom industry, which generates significant employment opportunities. Furthermore, Belgaum’s pioneering efforts in areas such as hydraulics underscore its position as a crucial industrial and business hub, providing an attractive environment for businesses across various sectors.
Top companies in Belgaum
Aequs
Industry: Aerospace, toys, and consumer durable goods
Company Type: Engineering
Location: Hukkeri, Belgaum, Karnataka – 591243
Founding date: 2000
Aequs is a precision engineering company specialising in aerospace, toys, and consumer durable goods. Headquartered in the Aequs Special Economic Zone in Belagavi, India, it operates additional manufacturing facilities in the US and France. Aequs collaborates with multinational joint ventures, serving customers like Airbus, Boeing, Safran, and more. With its expertise in forging, heat treatment, precision machining, sheet metal fabrication, surface treatment, and structural assemblies, Aequs offers a fully capable manufacturing ecosystem.
Ashok Iron Works
Industry: Engine blocks and transmission housings
Company Type: Manufacturing
Location: Main Site, Belgaum, Karnataka – 590001
Founding date: 1981
Ashok Iron Works (AIW) is a prominent foundry group in India, distinguished for producing a wide range of ferrous castings, including engine blocks and transmission housings. AIW’s unique integrated setup covers the entire process, from 3D casting models to designing and manufacturing machined castings. AIW aspires to excel in machining technology to support its foundry business and become a global supplier of finished components.
Dalmia Bharat Cement
Industry: Cement
Company Type: Manufacturing
Location: Gokak, Belgaum, Karnataka – 591136
Founding date: 1939
Dalmia Cement is a renowned cement brand in India, offering various cement variants such as PPC, PSC, PCC, OPC 43, and OPC 53. Operating under Dalmia Cement (Bharat), the company is headquartered in New Delhi, with one of its branches in Belgaum. Dalmia Cement is committed to being a leader in building materials through customer-centricity, sustainability, innovation, and values. It is part of the Dalmia Bharat Group, which also encompasses Sugar and Refractory products.
Shree Renuka Sugars
Industry: Sugar
Company Type: Manufacturing
Location: Neharu Nagar, Belgaum, Karnataka – 590010
Founding date: 1995
Shree Renuka Sugars (SRSL) is a prominent sugar manufacturer and refiner in India. It holds the distinction of being the fifth-largest sugar manufacturer with a capacity of 40,000 tcd and the largest refiner with a capacity of 4,000 tpd. SRSL is a key player in India’s sugar exports and holds a significant market share in fuel ethanol production. The company’s power and ethanol production capacity is distributed across various locations in Karnataka, Maharashtra, and West Bengal. SRSL actively participates in sugar commodities trading on NCDEX, both in the spot market and futures.
Hindalco
Industry: Aluminium and copper
Company Type: MNC
Location: Hindalco Colony, Belgaum, Karnataka – 590010
Founding date: 1958
Hindalco is a global metals powerhouse, excelling in aluminium and copper. Following its acquisition of Aleris Corporation, Hindalco has become the world’s largest flat-rolled products player and aluminium recycler. It has a significant presence in India and nine other countries, focusing on creating superior shareholder value. Hindalco’s operations encompass bauxite mining, alumina refining, coal mining, aluminium smelting, and downstream rolling, extrusions, and foils. It also holds a unique distinction as India’s largest private producer of gold.
Quest Global
Industry: Aerospace, Energy, Healthcare
Company Type: Engineering
Location: Hukkeri Taluk, Belgaum, Karnataka – 591245
Founding date: 1997
Quest Global has served as a reliable partner for more than 25 years, providing engineering services for products all around the world. With a presence in 13 countries and 11,500+ personnel, it engineers solutions for various industries, including aerospace & defence, automotive, energy, Hi-tech, healthcare, and more. They are dedicated to creating solutions for a safer, cleaner, and sustainable world.
Indo Schottle Auto Parts
Industry: Precision machined parts
Company Type: Manufacturing
Location: Hukkeri, Belgaum, Karnataka – 591243
Founding date: 1986
Indo Schottle is India’s leading manufacturer of precision machined parts, including engine valve collets, rocker arm screws, and turbocharger components. Established in 1986, it introduced advanced manufacturing processes to the Indian automotive industry, offering cost savings, productivity, and reliability.
MG Automotives
Industry: Custom bus
Company Type: Manufacturing
Location: Desur, Belgaum, Karnataka – 590014
Founding date: 1980
MG Group, established in 1980, specialises in custom bus manufacturing, including Staff Buses, School Buses, and more. It focuses on safety, quality, and customised product solutions. MG Group is recognised for its commitment to on-time delivery, passenger safety, and global quality standards.
Pragati Engineering
Industry: Safety Gears
Company Type: Manufacturing
Location: Machhe, Belgaum, Karnataka – 590014
Founding date: 1996
Pragati Engineering is committed to providing environmental, health, and safety protection. It specialises in machine tool accessories for CNC machine tool OEMs and precision machined components. Founded in 1996, Pragati Engineering aims to be a customer-centric organisation based on its business philosophy and vision.
Reliance Retail
Industry: Electronics, groceries
Company Type: Retail
Location: Shastri Nagar, Belgaum, Karnataka – 590006
Founding date: 2006
Reliance Retail, founded in 2006, is India’s largest and fastest-growing retailer. It serves over 193 million customers across various categories like consumer electronics, fashion, grocery, and more, with a vast network of 15,000+ stores. Reliance Retail is committed to enhancing financial income and job security for millions of Indians and supporting partner merchants and MSMEs through their New Commerce initiative.
Commercial real estate demand in Belgaum
Office space
Companies of different sizes are expanding their operations in Belgaum, lured by its strategic location, skilled workforce, and favourable business environment. This surge in corporate presence has driven a notable increase in demand for office space, particularly in prime locations such as the central business district and thriving IT hubs.
Rental property
The influx of companies has also ignited a surge in demand for rental property in Belgaum. Professionals and families are actively seeking well-maintained and affordable rental accommodations in proximity to their workplaces. This heightened demand has translated into significant increases in rental rates, particularly for properties located in prime areas.
Impact
The burgeoning demand for commercial real estate in Belgaum is leaving a distinctly positive mark on the city’s economy. It is not only fostering job creation and business growth but also driving the development of essential infrastructure and amenities. This economic upswing is indicative of Belgaum’s growing appeal as a thriving business hub.
Impact of companies on Belgaum
Companies have wielded a significant impact on Belgaum’s real estate market, reshaping the local landscape. As these enterprises establish themselves and grow, they bring with them job opportunities that attract new residents, consequently driving up the demand for both residential and commercial properties. This heightened demand has translated into a notable surge in property prices, particularly in areas like the Industrial Estate, home to major companies, and in the Cantonment area with its government and military establishments. Additionally, these companies have invested in improving Belgaum’s infrastructure, making it more appealing to residents and businesses alike while simultaneously increasing economic activity in the region through job creation and heightened tax revenues.
FAQs
What is the current name of the city formerly known as Belgaum?
The city's name was changed from Belgaum to Belagavi on 1 November 2014 by the Karnataka government, with approval from the central government of India, among 12 other cities.
Is Belgaum a desirable place for residence?
Belgaum is a beautiful city with favourable aspects such as climate, infrastructure, education, and more. It's ranked as the second-best city in Karnataka. The city has undergone significant changes, especially since being designated as a smart city.
Is living in Belgaum expensive?
Belgaum offers a relatively affordable cost of living compared to other Indian cities. It provides good job opportunities, particularly in manufacturing, agriculture, and services. With its rich culture and pleasant climate, Belagavi is an excellent place to live and work.
What is the average employee salary in Belgaum?
Employees in Belagavi earn an average salary of Rs 19 lakhs per year, with salaries typically ranging from Rs 15 lakhs to Rs 50 lakhs per year.
Which industries are prominent in Belgaum?
Belgaum is known for industries such as leather, clay, pottery, soap, cotton, and precious metals. It is particularly famous for its powerloom industries, which provide employment for numerous weavers.
Which are the recommended residential areas in Belgaum?
Bhagya Nagar, Hanuman Nagar, Tilakwadi, Nipani, and Ganeshpur are the most popular areas in Belgaum for buying a home.
What is the cost of living in Belgaum?
On average, you can expect to pay around Rs 6,000 to Rs 10,000 per month for a one-bedroom apartment in the city centre. Food costs are relatively affordable, with meals at mid-range restaurants typically ranging from Rs 150 to Rs 300.
Is Belgaum considered a metropolitan city?
Belgaum is not officially classified as a metropolitan city. The metro area population of Belagavi in 2023 is approximately 767,000, showing a 1.99% increase from 2022, but it does not hold the status of a metropolitan city.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com |
