The Murugappa group today said its consolidated turnover crossed $1.44 billion (Rs 6,250 crore) in 2004-05, and announced Rs 650 crore investments by various group companies.The group achieved 20% growth in turnover in 2004-05 while profit before tax increased 49%, an official release said today.The combined market capitalisation of all the listed companies of the group increased 143% as of April 2005 when compared with the previous year, the release said. "This is a reflection of shareholder confidence," said director A Vellayan.The Rs 650 crore investment would include setting up a project in Perundurai near Erode for manufacturing sanitaryware. A major expansion of the export-oriented unit of Tube Products of India (TPI) has also been planned at its current location at Avadi, Chennai.Cumi, the group's abrasives company, has proposed to set up astate-of-the-art plant at Sriperumbudur for manufacturing coated abrasives at an investment of Rs 75 crore.The group is also planning to convert the remaining three sugar units at Pudukottai, Pettavaithalai and Pugalur into fully integrated (co-generation of power and distillery) plants.
