Pennar eyeing 20 pc jump in revenue from Railways post budget

Posted By: Pti
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Hyderabad, Feb 25 (PTI) Pennar Industries, a city-basedengineering and value-added services company, expects a 20 percent jump in revenues from Indian Railways next fiscal withthe new initiatives planned in the 2011 railway budget.

Pennar which makes rail wagons and coaches is expected tobenefit from railways'' expansion plans, said Pennar Groupchairman Nrupender Rao.

He said the company is set to make Rs 250 crore revenuefrom the railway sector this fiscal.

"As far as more wagon purchases are concerned, RailwayMinister (Mamata Banerjee) clearly said that Rs 13,000 crorewill be spent for rolling stocks. With that kind ofinitiations we are expanding our product base also. We expecta growth of 20 per cent from railways next year," Rao toldPTI.

Praising the 2011 railway budget, he said the dedicatedrail corridor between Mumbai and Delhi is a good economicconcept and the Government should form separate organisationfor that.

Meanwhile, Bartronics, a city-based RFID, Smart Cards,GPS and Point of Sale (POS) solutions provider said it iskeeping its fingers crossed on the implementation of Go-Indiacard project announced by Banerjee today.

According to Sudheer Rao, Managing Director, Bartronics,though it would be a big opportunity for the company if theGo-India card pilot project is successful, there has to be alot to design to implement it at the ground level.

The company cloaked revenue of around Rs 30 crore fromIndian Railways last year and expects to see a growth of 10per cent in this fiscal.

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