Havells India eyeing Rs 2,000 crore revenue this fiscal

Banking on housing sector

FARIDABAD: Power distribution equipment firm Havells India expects to clock a 29% revenue growth in the current fiscal at Rs 2,000 crore, on good demand from housing sector.

The company is also expecting a Rs 3,000 crore turnover from its subsidiary SLI Sylvania, which it acquired in March this year.

“We expect to achieve a turnover of Rs 2,000 crore this fiscal on a standalone basis. Last year, we did Rs 1,550 crore. Sylivania will add Rs 3,000 crore,” company joint managing director Anil Gupta told reporters.

Havells India is setting up a plant at Naimrana, Rajasthan at an initial investment of Rs 80 crore. It had planned a capex of Rs 200 crore this fiscal, of which Rs 150 crore has already been spent, Gupta said.

Meanwhile, QRG Enterprises, the parent company of Havells India, on Monday announced its foray into healthcare segment with the Rs 21 crore acquisition of city-based Central Hospital and Research Centre, a 140-bed super speciality hospital and offer services in neurosurgery, plastic surgery, knee and joint replacement.

“QRG Enterprises has acquired 70% stake in Central Hospital. The enterprise value of Central Hospital is about Rs 30 crore. We will put in additional Rs 20 crore in the hospital in the next few months for its upgradation,” QRG Enterprises chairman and managing director Qimat Rai Gupta said. As per a study helthcare spending in the country will double over the next 10 years, he added.