Kirby India on expansion spree, eyes Rs 800 cr turnover in FY08

New Delhi, Aug 24 (UNI) Kirby Building Systems India Ltd, leading manufacturer of pre-engineered steel buildings (PEB), today said it has doubled its capacity to two lakh metric tonnes (MT) and targets a Rs 800 crore turnover in fiscal 2007-08.

''We have increased our capacity from one lakh MT to two lakh MT in June this year and expect to reach a turnover of Rs 800 crore from the Indian operations by March 2008,'' company's Chairman and Managing Director Praveen Tandon told reporters here.

At present, the company has two plants in India at Haridwar running with a capacity of 1,25,000 MT and at Hyderabad with 75,000 MT capacity.

It has two plants in the West Asia -- one in Kuwait running at a capacity of one lakh MT and another in the UAE of 50,000 MT, which will be doubled by next year.

Mr Tandon said the company also plans to set up its third plant of 50,000 MT in the country either in Maharashtra or Gujarat with an investment of Rs 50 crore, which is likely to be commissioned by mid-2009.

At present company's total capacity including West Asian plants stands at 3,50,000 MT per annum.

Mr Tandon said it would touch four lakh MT once the under-construction plant at Vietnam gets operational by mid next year.

''After the commissioning of Rs 70 crore Vietnam plant and the third plant in India, our global revenues will touch Rs 3,000 crore,'' he said.

Post this expansion, Kirby accounts for over 50 per cent of the total PEB capacity in the country with a 55 per cent market share of the domestic PEB industry.

The company caters to various customers including Tata Steel, Videocon, GE, Reliance, Nokia, Toyota, Ford, BMW, Skoda and Bridgestone.

Pre Engineered Steel Buildings, populary known as PEB is a factory-made steel building delivered to the site from a single supplier without any fabrication or welding. PEB is light in weight, quake-resistant and offers the benefit of being portable and easy to relocate to another site.

UNI