|Bathroom faucets and fittings maker Jaquar Group is planning to invest over Rs. 300 crore towards expansion of the existing faucets making facilities and setting up new plant for its lighting division.|
The company is eyeing rapid growth after the policy push for the affordable housing segment. "We see a revived demand for branded and superior quality products across housing segments. Driven by the policy push, all the segments are growing and will see a healthy growth. We will close the current fiscal at Rs. 3,200 crore and expect to achieve 20 per cent growth next fiscal driven by these promising factors," said Rajesh Mehra, Promoter and Director.
Mehra further informed that the company is expanding its existing faucets facility at Bhiwadi in Rajasthan. “After the expansions, our total capacity at the plant will touch 100,000 faucets per day. We will see the commercial production soon. We have invested total Rs. 150 crore towards building expansion and machinery," he said.
Jaquar has chalked out ambitious growth plan for its lighting division, which, according to Mehra, will see its turnover doubling from Rs. 200 crore likely in 2017-18 to Rs. 400 crore in 2018-19.