Kolkata-based Rs 650-crore Amrit Group will invest Rs 100 crore to foray into dairy business and in other food products, in an attempt to emerge as a complete foods company over three to four years.
The company is also eyeing a turnover of Rs 1,000 crore by the end of this financial year, a year-on-year growth of 45 per cent.
Harish Bagla, managing director of Amrit Group, said, “We are launching three varieties of milk comprising cow milk, toned milk and double toned milk under the flagship brand ‘Amrit Fresh’. The range will be initially available in Kolkata and Greater Kolkata in packs of 1000 ml, 500 ml and 250 ml for cow milk only.”
“We did a test marketing of our milk a month ago in various parts of the city and received good response. So we are hopeful of capturing a reasonably good market share by 2010 -2011,” said Bagla.
With a dairy farm of about 1,000 animals (buffaloes and cows) and a present production facility of 50,000 litres per day, the company is investing Rs 50 crore to achieve a production capacity of 100,000 litres per day by 2010-11. West Bengal consumes nearly 30 lakh litres of milk every day and the industry is clocking a growth of around 3 to 4 per cent. "Of this only 10 lakh litres per day is processed, and the state's per capita consumption is lower than the national average. We see a huge potential for growth," added Bagla.
Amrit Group is in talks with various European companies and is exploring the possibility of value-added milk, with specific nutriants for infants and the aged.