The company, a market leader in ready-mix concrete supply with a 30 per cent market share, will be adding another 65 units in addition to the existing 35 units across the country with an estimated investment of Rs 5 crore per unit by the year 2009. The ECC division, which has a presence in 13 countries, expects international projects to contribute 20 per cent to the overall projected turnover of Rs 10,000 crore by 2009.
Speaking to FE, KV Rangaswami, senior vice-president, L&T and in-charge of ECC division, said: We are bullish on construction activities in India as well encouraging response from overseas markets.
With the huge potential in infrastructure development activities in the areas of buildings, factories, irrigation, commercial, housing, roads, ports, airports, hydel, nuclear, industrial, electrical and transmission and other infrastructure areas in India, L&T hopes that it will continue to lead the pack and hopes to achieve the Rs 10,000 crore turnover by 2009, Mr Rangaswami indicated.
The company expects to achieve Rs 6,500 crore in turnover during the fiscal as against Rs 5,400 crore last fiscal, he added. The company, which has done many projects in as many as 13 different countries, believes that international projects will be one of the major contributor for the companys overall growth in the years to come.
We expect 20 per cent of our total turnover by 2009 to be from international projects, he said, adding that the company has presence in Dubai, Bangladesh, Sri Lanka, Abu Dhabi, Kenya, Tanzania, Bahrain amongst the 13 countries. The Rs 1,000-crore ready-mix concrete industry is growing at the rate of 40 per cent annually and there are 15 prominent players in the market, he noted.
We are planning to increase the total number of ready-mix concrete units to 100 as against the current 35 units by 2009 with an estimated investment of Rs 5 crore a unit, Mr Rangaswami said. The company expects ready-mix concrete units to contribute eight per cent to the overall turnover, he added.