The company, which is already into branded whiskey and bottling operations, had earmarked Rs 30 crore investment to launch branded beer in lager and mild categories and had already entered into strategic tie-ups with three Indian breweries, with the launch slated for sometime early next year, company sources said here on Wednesday. They declined to comment upon whether raising the required funds was a major hurdle in launching beer brands. Radico's executive director Abhishek Khaitan was not immediately available for comment.

Radico was eyeing 40 per cent higher turnover this year on the back of the proposed strategic tie-ups for beer, expanded marketing of the company's branded whiskies including `8 PM' and roping in more bottlers.

"We have decided to launch our own beer brand and the strategic tie-ups with three Indian breweries are already in place. Also, brand name and identity have been finalised," Mr Khaitan had said in May this year.

He had said a foray into beer was part of the company's expansion and changeover from a purely distilling company to a comprehensive liquor portfolio, adding the beer brand would be test-marketed shortly in key markets.

Radico Khaitan, one of the fastest growing liquor companies with Rs 350 crore turnover against Rs 250 crore last year, is eyeing the number three slot this year after UB and Shaw Wallace. "Radico will be expanding marketing activities for civil supplies and we are targeting Rs 50 crore worth of sales from civil marketing alone this year," Mr Khaitan had said.