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| Amira Foods eyes Rs 1,500-cr topline in 3 yrs |
| Press Trust of India / New Delhi Apr 14, 2010, 18:18 IST |
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Eyeing 50 per cent growth in turnover to Rs 1,500 crore in three years, basmati exporter Amira Foods (India) today said it will invest Rs 150 crore to expand domestic and overseas presence.
"Our turnover is around Rs 1,000 crore now. We hope this will go up to Rs 1,500 crore in the next three years with the kind of expansion we have embarked upon," Amira Group Managing Director Karan Chanana told PTI here.
At present, the company generates about 70 per cent of its revenues from the overseas and the rest comes from domestic sales. It exports over 70,000 tonnes of basmati and over 1 lakh tonnes of long-grain rice to over 40 countries.
Export revenue is likely to be around Rs 1,000 crore as the company reaches its targeted topline of Rs 1,500 crore in three years, he said.
Elaborating on expansion plans Chanana said, "We want to focus more on India. Our aim is to be among the top three basmati players in India."
The company has established a distribution network throughout the country to sell basmati rice under its own brands, he added.
"We want to take our brands to foreign markets also. We plan to have presence in 15 countries in the next 18 months," Chanana said, adding that the company is looking to acquire a distribution network overseas for this.
"We are open to acquiring a foreign distribution network, but nothing concrete has taken shape yet," he said.
To achieve a higher turnover, Amira Foods has spent Rs 65 crore towards augmenting capacity of its Gurgaon mill to 30 tonne per hour, he said. "We will add more capacities, if required."
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