Rice processor Usher Group today said that its turnover is likely to jump three-fold to Rs 1,000 crore in the next two years, on increased capacity.
The company, a listed entity, has two rice processing mills at Mathura and one at Buxar in Bihar with a total capacity of 2.5 lakh tonnes. Usher expects to expand the capacity of its Mathura plants by three lakh tonnes by October.
"We will be one of the top rice processors in the country following the expansion. This will also help us increase our turnover four-fold to Rs 1,000 crore by 2011-12, from Rs 250 crore in the first nine months of 2009-10," Managing Director V K Chaturvedi told PTI here.
He said the company expects to post a turnover of Rs 350 crore this fiscal, ending June.
Chaturvedi believes the company's topline would exceed Rs 500 crore in 2010-11 "even on a conservative estimate". Exports would contribute Rs 100 crore to the turnover.
Usher Agro also has a wheat-processing plant in Mathura with a capacity of 75,000 tonnes per annum. The company is in the process of drawing up plans to increase it further, Chaturvedi said.
Going forward, the company intends to emerge as a "one stop shop" for all the basic foods, including pulses and foodgrains. To this end, Usher Agro is planning to start dealing in pulses soon.