Havells India plans to infuse Rs 500 crore in the coming three years targeting a turnover of Rs 10,000 crore. With the target of a 50 per cent increase in growth, it will be bringing on board 1,500 people. Hiring shall be done for domestic and overseas operations. Funding shall be done through internal accruals. The coming year will be the first phase of investment and one-fifth of the said investment will be made in the coming year.
“Our capex investment will be between Rs 300 crore and Rs 500 crore for the next three years. This investment will go into various segments such as expansions of plants, R&D works and launching new products,” Anil Gupta, Joint Managing Director, Havells India.
They are also considering acquisitions in China and Africa that may entail an investment of up to Rs 1,100 crore to strengthen its overseas operations.