ALSO READCummins India Q1 net profit up 23 pc at Rs 222 cr Cummins' Rs 1,500cr technical centre to be ready by year-end Cummins India advances on brokerage rating Cummins India standalone net profit declines 5.12% in the March 2017 quarter Cummins India standalone net profit rises 22.62% in the June 2017 quarter
The technical centre being set up by engine manufacturer Cummins here will be its second largest facility outside the US market and is expected to be up and running by this year-end, a senior official said today.
The company is investing Rs 1,000-1,500 crore, spread over five years, in the centre and also for setting up its India campus office.
The Rs 1,000-1,500-crore investment is spread over 2013-2017 for India campus office and CTCI (Cummins Technical Center India), a company spokesperson said.
The state-of-the-art centre, which would be the second largest such facility of the firm outside the US market, is expected to provide "increased" opportunities to the company, Cummins India Chief Operating Officer Sandeep Sinha said here.
"We expect our state-of-the-art technology centre to be functional by this year-end," he said.
Cummins in India is a group of seven legal entities across 200 locations in the country. Collectively, the group operates 21 manufacturing facilities across India.
The seven entities (including four joint ventures), are Cummins India Ltd., Cummins Generator Technologies India Pvt Ltd., Cummins Technologies India Pvt Ltd., Fleetguard Filters Pvt Ltd, Tata Cummins Pvt Ltd, Valvoline Cummins Pvt Ltd and Cummins Sales and Service Pvt Ltd.
Sinha said some last minute construction work of the upcoming centre was still going on and the completion would depend on the intensity of the monsoon. "We just want to do it in a safe manner," he said.
He said the centre will have a very strong and positive impact on Cummins business in India as it will create increased export opportunities for the company.
The facility is not going to be for global work, it is going to bring a lot of innovation for the Indian market, Sinha added.
Sinha said the first half of the fiscal was quite "good" for Cummins India as it saw significant growth in its businesses during the period.
Cummins India had reported a 22.61 per cent jump in net profit at Rs 222.16 crore in the quarter ended June 30. The company had posted net profit at Rs 181.18 crore during the same period last fiscal.