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Ramky Engineers eyes to double revenue to Rs 3,500 cr by 2020
Hyderabad, Jan 31 (PTI) Ramky Enviro Engineers, a city-based Ramky Group company, expects to double its revenue to Rs 3,500 crore over the next two years, on the back of growing business opportunities
Hyderabad, Jan 31 (PTI) Ramky Enviro Engineers, a city-based Ramky Group company, expects to double its revenue to Rs 3,500 crore over the next two years, on the back of growing business opportunities.
The company also plans to nearly double revenue from international operations in the next two years to over Rs 1,100 crore from Rs 600 crore now, Goutham Reddy, managing director and chief executive said.
“Currently international operations contribute about one-third of overall sales. This year we expect it to be around Rs 600 crore. Once international projects we have on hand start at full scale, revenue from these operations will be Rs 1,000-1,100 crore in the coming two years,” Reddy said here today.
According to him, the waste management company expects to clock Rs 1,800 crore revenue this year against Rs 1,550 crore last year.
“We will be investing Rs 900-1,000 crore during the next two years in both domestic and international operations.
The overall business may scale up to more than double to Rs 3,400-3,500 crore in two years from now,” he said.
The company recently acquired 50 per cent stake in the US-based Nems-Marpol, a marine pollution management facility.
Ramky will also explore the opportunity to acquire the balance stake in future.
Besides, Ramky also has won a solid waste management transportation and disposable operations contact from the Al Batinah municipality in Oman and four other projects in Gulf countries.
When asked about plans to go public, Reddy said he has no such plans near term.
The company’s upcoming Rs 340 crore-20 mw waste-to- energy project is expected to commence operations by the end of next fiscal, he said.
This is published unedited from the PTI feed.