Everest to set up Rs 50 cr manufacturing facility in Orissa

Eyes 20 to 25% year-on-year growth for next five years.

Everest Industries Ltd (EIL), one of India’s fastest growing building solutions companies, will set up a new fibre cement roofing plant at Balasore in Orissa within a year. The company will invest close to Rs 50 crores in the project.

The company is eyeing 20-25 per cent year-on-year growth for the next five years. The company is also planning to provide smart steel building solutions for small projects like schools, colleges and villa."With an aim to meet the market demand, we are setting up a new fibre cement roofing manufacturing facility at Balasore in Orissa at an investment of Rs 50 crore. This new proposed manufacturing facility, which will be spread over 21 acre, will have a manufacturing capacity of 1.20 lakh tonnes a year and is expected to start commercial operation within a year," said, Manish Sanghi, managing director, Everest Industries Ltd.

 

"We are also planning to provide smart steel building solutions for small projects like schools, colleges and villas. We will grow in our current business and expect higher growth from new businesses like pre-engineered steel buildings. We are eying 20 to 25 per cent year-on-year growth for the next five years," he said.

In FY 2010-11, the company registered a sales turnover of Rs 721.59 crores, against Rs 652.53 crores in FY 2009-10. The Pre-engineered Steel Building (PESB) division of the company achieved a turn over of Rs 161.23 crores in FY 2010-11, against Rs 124.69 crores in previous year (FY 2009-10).

The PESB division of the company designs, manufactures and erects any infrastructure project like factory sheds, logistic parks, warehouses, airports, metro stations, railway stations and commercial buildings.

Everything is manufactured at the site and assembled at customer’s place.Everest, a complete building solution company, fulfills the need for faster constructions with a variety of offerings like Roofing Solutions, Ceiling Solutions, Wall Solutions, Cladding Solutions, Floor Solutions, Door Solutions and Steel Building Solutions.

The company has five manufacturing facilities located in Kymore (Madhya Pradesh), Kolkata (West Bengal), Coimbatore (Tamil Nadu), Nashik (Maharashtra) and Bhagwanpur (Uttarakhand).