Calcutta, Jan. 25: Havells India Ltd is expecting a 12-14 per cent rise in its turnover in India by the end of this fiscal.
The fast moving electric goods company had reported a turnover of Rs 4,200 crore in 2012-13.
Havells, which plans to venture into water pumps and produce water heaters, has earmarked an investment of Rs 100 crore for this fiscal.
The company will use the investment to add a production line for pumps to its existing manufacturing facility at Neemrana, Rajasthan. Havells has close to 42 acres at Neemrana. It will also set up a new plant for heaters on the same plot. At present, heaters are sourced from China.
“We are manufacturing the pumps at Neemrana where we already produce lighting fixtures, motors and CFL. We have invested close to Rs 50 crore. These will hit the market by the end of January or early February,” said Y.K. Gupta, associate director, Havells India Ltd. The water heater plant will require another investment of Rs 50 crore. It is likely to start operations by May.