Calcutta, Aug. 7: Britannia Industries has earmarked Rs 1,000 crore to expand capacity in Maharashtra where it is setting up its largest integrated project in the country.

The fast moving consumer goods company also plans to build larger brands of biscuits through consolidation.

Addressing shareholders at the company's 98th annual general meeting, Britannia chairman Nusli N. Wadia said the company was planning to set up a food park in Ranjangaon near Pune which will not only make its top selling biscuits but also dairy products and croissants. The company has entered into a joint venture agreement with Greek firm Chipita S.A for croissants.

"We are looking to set up a mega food park with an investment of Rs 1,000 crore and employment scope of around 3,000. The investment will be over 4-5 years. To start with, we will put up six biscuit lines, one cake plant and one croissant line. Over the years, there will be additional lines for cake and rusk, a flour mill and a dairy plant," said Varun Berry, managing director of Britannia.

The company already has 98 acres for the food park and is looking to acquire another 48 acres of adjacent land.

The expansion will enhance Britannia's annual biscuit manufacturing capacity by around 1.2 lakh tonnes.

The company is also expanding its overseas footprint. "We are looking to add one market every year where we get into distribution and manufacturing. We have registered a company in Nepal and are looking to put up a plant there. We will invest around Rs 55 crore," he said.

Brand consolidation

Britannia is working on a plan for one large brand for each of the biscuits categories. It has identified five "power brands" - Good Day, Marie Gold, Milk Bikies, 50-50 and Tiger. New products in these categories are likely to come under the flagship brands.

"The category where we have three brands today is cream (biscuits) - Pure Magic, Treat, Bourbon. These are the ones where we are looking to consolidate over time," said Ali Harris Shere, vice-president-marketing, of Britannia. The firm has eight major brands.

Britannia today reported a 1.40 per cent dip in consolidated net profit at Rs 216.12 crore for the June quarter, impacted by the GST and subdued growth in international business.