Pumps manufacturer Grundfos Pumps India is eyeing Rs 1,000 crore revenue in the next five years, betting big on higher-end models with embedded electronic intelligence and solar pumps, among others.
The company, which currently has a turnover of about Rs 470 crore, is looking to manufacture more of solar driven water ATMs and solar driven ultra filtration system to scale up its sales.
"We have made a plan to touch almost Rs 1,000 crore in next 5 years by looking into higher-end pumps with electronic intelligence and systems which talk to each other," Grundfos Pumps India Managing Director Ranganath NK told PTI.
Besides, the company plans to manufacture 300 water ATMs and about 50 ultra filtration systems this year, he added.
Grundfos Pumps India is a wholly-owned subsidiary of Denmark-based Grundfos Holdings.
The company plans to expedite work towards solar and borewell pumps, where it has less presence, to increase its market share.
It has three manufacturing plants in India, two in Chennai and one at Ahmedabad, which started operations from June 1 to expedite supplies to north and west parts of the country.
Ranganath said South India is the bigger market for the company followed by the West.
"Majority of the revenue comes from South and West," he said.
Grundfos Pumps India provides pumping solutions for various applications -- heating and hot water service systems, cooling and air-conditioning systems, industrial applications, groundwater supply and pumps running on renewable energy.
It sells products in India, Bangladesh, Bhutan and Maldives. The company has about 300 distributors and dealers.