Caparo India planning Rs 4,000 cr turnover by 2011

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Chennai, Oct 4 (UNI) Caparo India Private Limited, part of the UK-based Caparo Group founded by Lord Swraj Paul, was eyeing a Rs 4,000 crore turnover in the next four years.

Talking to reporters here, a couple of hours ahead of the launch of its new manufacturing facility at Sriperumbudur, near here, he said the turnover stood at Rs 220 crore last year and it was expected to increase by ten fold to Rs 2,000 crore by 2009.

"By 2010, we expect a revenue of at least Rs 1,000 crore from the new facility, which has come up in a 120 acre area with an investment of Rs 400 crore", he said.

Caparo India CEO and Lord Paul's son Angad Paul denied reports that the company was developing a small car, and said "we are only developing a platform for small cars".

"We are doing design engineering to develop a platform for small cars", he said effectively ruling out plans to manufacture any type of car.

About the new facility to be inaugurated by Tamil Nadu Chief Minister M Karunanidhi later today, he said it would house a stampingunit, a R and D Centre and tool room, an aluminium foundry and a forging unit. It would provide employment to nearly 1,000 people.

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