Fischer Group looks to triple turnover in India to Rs 600 cr in 5-7 years

The group, which clocked a turnover of around Rs 200 crore last year, will be focussing on infrastructure projects, along with sectors such as energy, industry to accelerate its growth

Germany's Fischer Group, a major player in fixing systems for the construction industry, plans to treble its turnover in India in the next 5-7 years, tapping the fast growth of the sector in the country, top company officials said on Thursday.

The group, which clocked a turnover of around Rs 200 crore last year, will be focussing on infrastructure projects, along with sectors such as energy, industry, and oil and gas, to accelerate its growth in India.

"India is one of the most important countries for Fischer Group. India is investing and India is growing... we are working on some of the most important construction projects...," fischerwerke GmbH & Co KG Managing Director Business Units & Engineering Oliver Geibig said here in an interaction.

The group has five divisions -- fixing systems, automotive, fischertechnik, consulting and electronic solutions.

Geibig said the group's focus in the mid-term on India will be on fixing systems for the construction industry.

Elaborating on the opportunities in India, Fischer India Managing Director Mayank Kalra said the country is set to become the 3rd largest construction market in the world by 2030, moving up from the fourth position with a national infrastructure pipeline of  $4.5 trillion and a real estate market slated to touch USD 1 trillion during the period.

"We see a lot happening in India in the construction and infrastructure sectors... and that is what excites us," he said.

Asked about the group's financial targets, Kalra said, "In the next five to seven years we are looking at 20 per cent consistent growth... we are looking at tripling our business during the period."

Last year the group had clocked a turnover of Rs 200 crore, he said, adding that infrastructure projects, such as metro rails, airports, renewable energy and nuclear, besides industry, oil and gas will be the focus areas.

The group had supplied its fixing systems for construction in key projects in India, including the Central Vista, Statue of Unity, Ram Mandir at Ayodhya and Atal Tunnel, among others.

The group has also set up an IT hub in Bengaluru and aims to scale it up going forward.

Asked if the group would be interested in entering the automotive segment in India, Geibig said it is not looking at it the moment as its focus is on the construction segment.