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| JBM Group aims over 20% revenue growth in FY10 |
| Press Trust of India / New Delhi Nov 04, 2009, 16:29 IST |
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Auto component maker JBM Group today said it expects revenue to grow over 20 per cent this fiscal on account of revival in the automotive market.
The company, which had clocked a turnover of Rs 2,700 crore last fiscal, is in final stages of tying up with an European firm for its planned foray into bus manufacturing.
"The atmosphere is positive in the Indian automobile industry and demand is coming back from original equipment manufacturers (OEMs)," JBM Group Executive Director Nishant Arya told reporters here.
He announced JBM's partnership with designing firm Dassault Systemes to enter the education sector to give training to auto designers and engineers.
Arya said with sales reviving across the segments such as passenger vehicles, two-wheelers and commercial vehicles, the profit margins of the company have also improved.
"The group is targeting a revenue of Rs 3,300 crore in the current financial year," he said.
Besides, the group firm JBM Auto is expecting its turnover to grow to Rs 350 crore in FY10 from Rs 216 crore in last fiscal.
When asked about its planned foray into manufacturing of buses in the country, Arya said: "We have almost finalised our partnership with an European firm and initially the products will be rolled out from our Kosi plant in Uttar Pradesh."
The company would later set up a dedicated bus manufacturing facility in one of India's auto hubs, such as Gurgaon, Chennai or Pune, he added.
On its association with Dassault Systemes, Arya said the domestic firm would invest Rs 100 crore over the next three years in launching the programme — JBM Cadmind.
"We are focusing on two areas — educational and engineering designs. We are targeting Rs 400-500 crore revenue in the next three years, which will be contributed equally by these two areas," he added.
Earlier, the company had announced to start technical education programmes in association with five other institutes in the national capital region to train automotive designers and engineers.
The group is aiming to garner Rs 1,000 crore from this new venture by 2015 and plans to expand to at least 100 institutes across the country over the next five years.
The group has tied up with Tata Technologies and MSC Softwares for the structuring of the course, which would be offered as 3-month, 4-month and one-year programmes.
Students would be charged course fees between Rs 75,000 and Rs 1.2 lakh, depending on the programmes, Arya had said.
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