Keventer Group eyes 30% topline growth in FY12

The Keventer Group, which is developing a mega food park at Bhagalpur in Bihar in collaboration with the Future Group, is eyeing a 30 percent spike in topline this fiscal.

"We are expecting a consolidated growth of 30 percent in revenue this fiscal in line with increasing domestic as well as export demand," Keventer Group Managing Director, Mayank Jalan told reporters here.

The company, which had a revenue of ' 550 crore last fiscal, is expecting to export 1,300 containers in FY12, against 800 last year.

Kaventer Agro, the group's agri vertical, mainly exports mangoes, lichi pulp and spices to Europe, China and Japan.

"We are looking at new geographies like US and Latin America for exports," Jalan added.

The company is developing a mega food park at Bhagalpur with initial investment of ' 160 crore.

"We have prepared a detailed project report after getting formal approval from the government. We are hoping to start construction in November," Jalan said.

At the Bhagalpur food park, Keventer will hold 51 percent stake, Future Group will have 36 percent, Bihar-based entrepreneur Satyajit Kumar Singh will have 6 percent and farmers will hold the remaining 6 percent stake, he said.

The food park, spread over 125 acres, will have 38 small and medium size processing units.