| The wider width cloth manufacturing facility at Rajapoor village in Mahaboobnagar district will be fully commissioned by this month end while the Rs 80-crore infrastructure project at Hitec City here, comprising a built-up area of 2.61 lakh sft, is scheduled to be ready for leasing to software and IT companies by the second quarter of 2008-09. |
| "The infrastructure project is expected to add Rs 24 crore to the company's annual turnover in the form of rental income. Besides, the company would be getting an equal amount as deposit in the form of one year rental advance," VTL's chairman and managing director, Vijay Kumar Gupta, told Business Standard. |
| He said the company intended to tap the market for wider width furnishing fabric, which has good demand but very limited availability due to very few manufacturers in the country. This fabric also has good potential for exports. |
| Keeping this in view, the company has decided to go in for further expansion at the new plant site at a cost of Rs 20 crore. "In the next six months, we are expecting an income Rs 20 crore from the sale of bigger width cloth," Gupta said adding the company would also start manufacturing bedsheets from next month. |
| VTL is hopeful of posting a turnover of Rs 110 crore and a net profit of about Rs 15 crore in the current financial year as against a turnover of Rs 81.5 crore and a profit of Rs 10.61 crore in 2006-07. The company's projected turnover for 2008-09 is Rs 150 crore. |
| Stating that the company's foray into the retail segment was a success, Gupta said VTL had decided to open its third retail furnishing mall at Kukatpally in the city in the current year and the fourth one at Dilsukhnagar next year. |
| Following this, the company would explore the possibility of opening retail stores in other metros. |
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