About us
Redefining Construction with Modular Innovation
We’re closing the gap between rapid development needs and outdated construction methods. At Modulex, we’ve embraced a smarter, faster, and more sustainable way to build, modular construction designed for the future of high-growth markets.
Our Story
Innovation Meets Purpose
Modulex is a leading ConstrucTech company, and our story in modular construction began with a drive to rethink the way spaces are created. By introducing smarter, faster, and scalable solutions, we aim to meet the growing demand for efficient construction in high-growth markets.
Our Mission
At Modulex, our mission is to deliver advanced, technology-driven modular construction solutions that respond to the growing global demand for modern facilities. We are committed to enabling faster, more efficient, and cost-effective delivery, particularly in high-growth and emerging markets. demand for efficient construction in high-growth markets.
Our Vision
At Modulex, we see modular construction as the future of modern spaces. Our vision is to lead the shift from traditional, site-based methods to a smarter, off-site manufacturing model. By doing so, we aim to shape a future that is sustainable, scalable, and globally ready.
Core Values
Built on Strong Values
Build Responsibly
We prioritise the safety of our people and the protection of our communities, assets, and environment. Everything we build is guided by a commitment to responsibility and long-term impact.
Act with Integrity
We stand strong on ethics and accountability. At Modulex, integrity shapes our decisions, builds trust, drives confident delivery, and fosters lasting partnerships.
Grow Together
We believe great things are built together. Through strong partnerships and shared goals, we collaborate to create a lasting impact, aligning progress with mutual success at every stage.
Deliver Excellence
Our culture of excellence drives us to push boundaries, exceed expectations, and bring consistent quality to every project, every time. This helps us deliver consistent quality across every project, every time.
Value Every Voice
Just as modularity shapes our approach, inclusion shapes our culture. We champion diverse ideas, experiences, and perspectives to build smarter, more human solutions.
Sustainability Commitments
Sustainability at the Core
Modular construction doesn’t just modernise the way we build, it supports long-term sustainability goals. At Modulex, we use eco-friendly and recycled materials to reduce waste and minimise environmental impact. By combining smart design with responsible practices, we’re building a cleaner, more sustainable future.
Leadership
Guided by Visionaries
At Modulex, our leadership team brings together diverse expertise and a shared commitment to building with purpose. United by a forward-looking vision, we drive meaningful impact through innovation, collaboration, and execution that’s rooted in intent.
Board of Directors
Suchit Punnose is a seasoned entrepreneur with over 25 years of experience, known for spotting opportunities in emerging markets. He’s been involved in a wide range of businesses—from retail and printing to vehicle leasing and accident management. What really drives him, though, is his passion for green technology and sustainable living. He’s all about building businesses that are good for the planet, and he’s on the board of several companies that share this eco-friendly vision. Suchit is also the CEO of Red Ribbon Asset Management Plc, the founding shareholder of the company. Through Red Ribbon, he supports projects that combine strong business potential with a positive environmental impact.
Ajay Palekar is a hands-on professional who’s been working full-time since 1984. Over the years, he’s built up deep experience in manufacturing—whether it’s leather, fabric, steel, or other materials. But that’s just one part of the story. He’s also led big, multi-location companies in the ITeS and outsourcing world, helping them grow, improve, and run smoothly. Ajay’s great at managing day-to-day operations while also keeping an eye on the long-term game plan. He’s known for setting up large industrial units, turning around struggling businesses, and scaling things up when it’s time to grow. In short, he’s someone who knows how to get things done and bring real value to both the business and the people in it.
Jayesh Sheth is a Chartered Accountant with over 39 years of experience. He’s worked across a bunch of industries like FMCG, pharma, herbal products, IT, retail, media, textiles, e-commerce, chemicals. Jayesh has led business operations, handled international and domestic markets, and helped launch and grow new projects. He’s got a sharp eye for strategy, knows how to manage profits, and is great at building teams and getting things done. Whether it’s working with investors, banks, or government bodies, he’s the go-to guy for making things run smoothly and efficiently. In short, Jayesh brings a ton of experience, energy, and practical know-how to every project he’s part of.
Raj Kumar Sharma brings a wealth of experience from both the Indian Navy and the aerospace industry. He kicked off his career in 1976 as a naval officer, specializing in aerospace tech and playing a key role in bringing the Sea Harrier fighter jets into the Navy. After retiring from the Navy, Raj didn’t slow down—he spent the next 18 years working with some of the biggest names in the global aerospace world. He’s held leadership roles at Thales Avionics in France, Lockheed Martin India, Northrop Grumman, and Punj Lloyd, where he led their defence division. With his deep technical background and industry know-how, Raj brings a unique perspective and steady leadership to the board.
Aditya Vikram Kanoria is an Independent Director with 20 years of solid experience under his belt. He’s spent over a decade in India’s financial services space, where he’s helped drive growth and profits across different business areas. Coming from a business family, Aditya naturally has that entrepreneurial spark. He’s got a great mix of financial expertise and business instinct, which makes him really good at building and growing new ventures from the ground up.
Rakhee Agarwal is an Independent Director with 18 years of experience in corporate finance—and she’s done a bit of everything. From debt syndication and project finance to private equity and credit ratings, she’s handled it all with ease. She’s worked closely with large and mid-sized companies, managing both new and existing accounts, and helping them navigate the financial side of things smoothly. With her practical approach and deep understanding of finance, Rakhee is someone who knows how to get things done and keep things moving.
Parag Mehta
Independent Director, India
Parag Mehta is a Chartered Accountant with over 40 years of experience—and he’s one of those people everyone turns to when they need solid advice. As a senior partner at VSM & Co., he’s been a guiding force for the firm, known for his deep knowledge and practical approach. Parag’s expertise covers everything from mergers and acquisitions to tax planning, business structuring, family wealth planning, and even arbitration. He’s also worked closely with private equity investors, helping with due diligence and strategic planning. On top of that, he’s served as an Independent Director on the boards of several private and listed companies, bringing his calm, experienced perspective wherever he goes.
Major General MN Devaya (Retd) is a veteran who brings 37 years of rich and varied experience to the table. Throughout his career, he’s worked across construction and combat engineering, project planning, and HR management—leading both military and civilian teams in India and even overseas in Botswana. He’s not just experienced—he’s also highly qualified. He holds an M.Tech. in Construction Engineering & Management from IIT Delhi (where he topped his class with a gold medal!) and a master’s in management studies from Osmania University. He’s also completed the Independent Directors Program at MDI Gurgaon. With his mix of technical expertise, leadership skills, and global exposure, he brings a thoughtful and strategic perspective to every role he takes on.
Executive Team Profiles
With over 38 years of experience in manufacturing, logistics, and supply chain, Ajay has led global operations across sectors. Now focused on building Modulex into a leading ConstrucTech company, he brings a passion for driving change through technology.
Taariq Mauthoor is a Chartered Engineer with over 20 years of experience in sustainable design for the built environment. A fellow of CIBSE (UK) and MD of GMF Engineering Group, he advises global finance and NGOs on smart cities, low-carbon technologies, and climate-focused development aligned with the UN SDGs.
James Withey
Group Managing Director, Modulex Group
James is a seasoned executive with extensive experience in manufacturing, Off Site construction, and property lifecycle management. He is currently the Group Managing Director of Modulex Modular Buildings. James is redefining construction through a productized, high-efficiency model that emphasizes speed, consistency, and sustainability. His use of advanced technologies enables the delivery of scalable, precision-built infrastructure with superior lifecycle performance.
About Promoter
Meet Our Promoter
Red Ribbon Asset Management Plc is a UK-based Impact Investment company focused on scalable, sustainable ventures in emerging markets. As Modulex’s promoter and strategic partner, Red Ribbon supports our vision with global expertise, long-term capital, and a strong commitment to environmental, social, and economic progress.
Our Global Presence
Modulex operates at a global level, allowing us to be part of projects worldwide and support them with seamless guidance.
United Kingdom
16 Berkeley Street, Mayfair, London W1J 8DZ
Mauritius
Premier Business Centre, 10th Floor, Sterling Tower, 14 Poudriere St, Port Louis.
India
A-82, MIDC Industrial Estate Loni Deokar, Indapur, Maharashtra 413132
United Kingdom
16 Berkeley Street, Mayfair, London W1J 8DZ
Mauritius
Premier Business Centre, 10th Floor, Sterling Tower, 14 Poudriere St, Port Louis.
India
A-82, MIDC Industrial Estate Loni Deokar, Indapur, Maharashtra 413132
Rethinking construction, together
Whether you are delivering housing at scale, expanding retail infrastructure, or setting up institutional pods, Modulex gives you the edge to build faster, safer, and without surprises.