Hero Honda to set up new plant in Jaipur

New Delhi, May 30 (UNI) Hero Honda Motors today announced its plans to set up a new plant in Jaipur with an initial installed production capacity of 5 lakh units at an investment of Rs 320 crore.

''The plant will be set up within the next one year and will have an expendable production capacity of one million units'' Hero Honda Managing Director Pawan Munjal told reporters.

The company also announced the launch of eight new models for the current year to strengthen its product portfolio across segments.

Earlier in the day the company had announced its net profit for the fourth quarter ending March 31,2006 at Rs 267.19 crore as compared to Rs 207.11 crore for the same period last year registering a growth rate of 29 per cent.

The total turnover for FY 2006 stood at Rs 8866.71 crore as compared to Rs 7558.55 crore registering a growth of 17 per cent.

The motorcycle giants also disclosed the launch of their new model 'Glamour FI', India's first motorcycle with Fuel Injection technology by June this year.

Last year the company's 100cc scooter model 'Pleasure' targeted mainly at females was well received by the market.

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