New Delhi, Nov 10 (PTI) Interarch Building Products, a leading player in the pre-engineered building industry, is planning to double its turnover to Rs 2,500 crore by 2028, Managing Director Arvind Nanda has said.
The company, which got listed recently, clocked a turnover of Rs 1,293 crore in FY24.
Interarch Building Products, which raised Rs 600 crore through the initial public offering (IPO), is planning to use the proceeds for capital expenditures, system upgrades, and general corporate purposes.
"In our existing three plants, we are also trying to enhance capacity by spending some money there and increasing the capacity utilisation," he said.
He further said by building its fourth fully integrated plant in Andhra Pradesh, the company plans to further ramp up its capacity.
"We have also bought land in Gujarat, which is going to be a our fifth fully integrated plant, probably starting next year," Nanda said.
The company had in September announced the acquisition of 51,926 sq mt land in Gujarat, procured at an investment of Rs 7 crore.
The move was part of the company's vision to expand its national footprint and meet the increasing demand for high-quality pre-engineered buildings across the country.
The company said it is poised to capitalise on these opportunities.
Interarch has executed several large projects in Gujarat for customers like Asian Paints, Timken, Micron (through Tata Projects Ltd), Asahi Glass, and MG Motors.
The company has four fully integrated state-of-the-art manufacturing facilities in Athivaram, Andhra Pradesh; Sriperumbudur in Tamil Nadu; Pantnagar in Uttarakhand; and Kichha in Uttarakhand.
The company's total order book stood at Rs 1,303 crore as on October 29.