Miniratna engineering, procurement and construction (EPC) PSU, Bridge and Roof Company (India) Ltd, was eyeing Rs 5000 crore revenue in the next 5 years on the back of robust order flow, a senior company official said on Thursday.
The PSU remained unperturbed with government attempts to divest the company and was busy to deploy a new growth strategy to maintain healthy long term growth.
The strategy includes foraying into rail wagon repairs in the near future before contemplating to revive wagon making which was discontinued in 2013.
"Our turnover in FY'20 was expected to be Rs 3,500 crore against Rs 3,082 crore registered in 2018-19. We are confident of turning Bridge and Roof into a Rs 5000 crore turnover company in the next five years," its chairman and managing director S K Sarder told reporters.
He announced that the centenary celebration of the company would be inaugurated on Friday by Union Minister of State for Heavy Industries and Public Enterprises Arjun Ram Meghwal.
The company was expecting to post Rs 40 crore net profit during this fiscal compared to Rs 29.6 crore registered last year.
Sarder said the company seeks to foray into wagon repairing and already began dialouge with the Railway authorities along with entry into road construction.
The company already have an order book of Rs 8,500 crore and was expecting healthy orders from both government and private sectors.
Citing doubling of the order book and rise in profitability, the Bridge and Roof was considering writing to the Centre to reconsider the disinvestment plan.
During 2016-17, the Centre had first mooted the plan to divest its 99.35 per cent stake in this Miniratna company and invited expression of interest from investors in 2018 without any progress.
The employees had also moved court against the Centre's decision and the matter is undergoing legal proceedings.
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