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| JCB India aims to touch $1 bn revenue in three yrs |
| Press Trust of India / New Delhi Aug 31, 2009, 20:04 IST |
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With the infrastructure sector set to grow in the near future, construction equipment maker JCB India today said it is targeting a revenue of $1 billion in the next three years, a jump of over two-fold.
The UK-based firm's Indian subsidiary is aiming for a 15 per cent increase in its revenue during this financial year.
"Last year slowdown hit the economy and lack of financing affected the sales. But in the coming months, demand for infrastructure equipment is going to be very high," JCB India Executive Vice-President (Finance and IT) Shrikant Sarpotdar told reporters here.
The company had posted a revenue of Rs 2,200 crore in 2008-09, he said.
"We are expecting a 15 per cent growth this fiscal, but we should grow by about 35 per cent in 2010-11 as the infrastructure sector is likely to get back its pace by then," he said.
"Our target is to touch a revenue of $1 billion within the next three years," Sarpotdar said.
In order to boost its sales, JCB India today announced its tie up with the State Bank of India to provide retail finance facilities for its machines.
The company is also expanding its retail outlets to about 375 by the end of this fiscal from its existing 350 outlets.
JCB India has two manufacturing facilities in Ballabgarh and Pune. It also exports machines, which are priced between Rs 18 lakh and Rs 70 lakh in the domestic market, to Russia, South Africa, Middle-East and SAARC countries.
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