TTK Prestige chalks out Rs 25 cr capex plan

To set up unit in Uttaranchal for excise, IT benefits

TTK Prestige, the Bangalore-based kitchen solutions provider, plans to invest Rs 75 crore towards scaling up the capacity and towards brand building in India.

Addressing a press meet here on Tuesday, T T Jagannathan, chairman, TTK Group of Companies said that the company will set up a facility at Uttaranchal with a budget of Rs 15 crore to manufacture 8 lakh pressure cookers and assemble kitchen appliances. Uttaranchal is expected to give excise and income tax benefits.

"We also plan to create new manufacturing facility at Coimbatore for Rs 10 crore in addition to enhancing the capacity at our old factory," he added.

The company in less than 36 months has released over 150 products and another 70 products are in the pipeline. As a brand-building exercise it is now initiating a Rs 50 crore media plan.

TTK Prestige has been growing at a break-neck speed for three years in a row with over 30 per cent growth year-on-year in domestic market. "The company in the last three years has achieved this by moving from being a pressure cooker and cookware company to diversified kitchen appliance company," he said.

"The brand Prestige has moved up several notches in the minds of the Indian consumer resulting in Prestige getting the status of Superbrand," he added.

Maintaining the past momentum, the company plans to grow in excess of 30 per cent in the present year once again. The company has reached 2.4 million households in a year in India and is now targetting to take the figure to more than 3.5 million in the next 12 months.

Chandru Kalro, executive vice-president (marketing), TTK Prestige detailing the company's future said that the company plans to aggressively expand its retail initiative by adding 100 more stores in the coming 12 months.

The manufacturing facility at Uttaranchal is expected to give the firm a lead in north and east Indian markets with the help of its new lead product - Prestige Nakshatra (an inner lid pressure cooker), he added.

The company plans to make its back-end robust by investing in the latest technologies in logistics and systems by going in for a complete ERP implementation across the company's operations.