In order to increase its production capacity, Kolkata-based two-wheeler manufacturer Vibgyor Vehicles will set up its second facility at Dankuni in West Bengal by the first quarter of next financial year, a top company official said in Kolkata on Tuesday.
“We are planning to start work on our second facility at Dankuni by the first quarter of FY12. Through this, we want to increase our sales to 1.5 lakh units by next fiscal. In 2010-11, till now, we sold about 22,300 units and expects the figures to touch 35,000 by March,” said Mrigen Banerjee, chief executive officer, Vibgyor Vehicles, on the sidelines of the Eastern India launch of 125 cc bike Hunter. During the last financial year, Vibgyor sold about 10,550 units.
Vibgyor Vehicles, which was started in 2009 is the flagship company of Vibgyor Allied Industries Ltd, already has a factory at Dhulagori in West Bengal. The firm has brands like Gallop, Hunter, Persona and Shark under its portfolio. “We have charted out a roadmap for the first three years with an investment of Rs 660 crore. Moreover, to expand our presence, we will start manufacturing bases in Lucknow and also in the Western part of the country by next financial year,” Banerjee said.
“Out of the 1.5 lakh units that we want to sell, we will export 20 per cent to Bangladesh, Nepal and Africa. Our current export volume is around 3,000-3,500 units per year,” he added.
The group had exported 500 units to Bangladesh last year and the first consignment to Nepal will be delivered by January. It has a showroom in Senegal and is mulling options to export products to Africa soon.
Vibgyor has plans to launch a varient of its 100 cc bike Gallop by early next year, a 150 and 200 cc bikes each and a scooter.
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“By the end of this financial year, we will expand our dealer network to 150, from the current 110. Moreover, it will again be doubled to 300 by end of the next fiscal,” said Partha Chatterjee, general manager of Vibgyor Vehicles.
Hunter will be sold at a price of Rs 40,990 in Kolkata (ex-showroom).