Asian Granito to invest Rs 200 cr for expansion

New Delhi, Apr 26 (UNI) Tiles maker Asian Granito India Ltd today said it plans to invest about Rs 200 crore to fund its expansion plans with a view to achieving a turnover of more than Rs 1,000 crore.

''We are planning on doubling the capacity of our wall file unit, and putting up a new plant for double feeder tile, doubling the capacity of marble project and takeover of units in the line of products in coming two to three years,'' a company statement said.

The long-term requirements will be met through internal cash generation and term-loan from financial institutions, which will help the company to achieve turnover of more than Rs 1,000 crore, it added.

The company will also invest Rs 55 crore on a marble project at its existing plant site. The project would be commissioned in the December quarter, which would add up to Rs 20 crore to the annual net profit and Rs 140 crore to revenue at 80 per cent capacity utilisation, it said.

The project will improve the bottom line by Rs l8-20 crores per annum, it added.

UNI SR SBA KP1718