The brand name Ascolite is marketed under Aswani Industries Pvt. Ltd. which is the brain child of the promoters of Ascon Group of Developers. The introduction of Ascolite in 2012 was a new direction by the group to vertically grow into building materials from construction.

The first step taken to promote Ascolite was by establishing the largest state of the art AAC blocks manufacturing facility with a capacity 4.25 lac m3 p.a. at Surat (Gujarat). The facility is located near the National Highway 8, facilitating easy connectivity to draw part material to Gujarat and Maharashtra. Ascolite is now a well-renowned brand that caters to solutions such as AAC Blocks, Block Jointing Mortar, Ready Mix Plaster, Gyplast, Wall Putty and more. Ascolite now comprises of a complete walling solution.