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Bharat Electronics Ltd eyes Rupees 10,000 crore turnover
Public sector Bharat Electronics Ltd (BEL) on said its revenue is expected to touch the Rs 10,000 crore mark in the current fiscal, supported by a good order book.
Hyderabad: Public sector Bharat Electronics Ltd (BEL) on said its revenue is expected to touch the Rs 10,000 crore mark in the current fiscal, supported by a good order book.
"We will grow at the same pace and my feeling is we will be very close to Rs 10,000 crore mark this year," BEL CMD M V Gowtama said responding to the revenue forecast for 2017-18 fiscal.
Asked whether the company would achieve Rs 10,000 crore mark this year, he said, "our aim is to cross, we will try to cross."
The company has reported a turnover of Rs 8,825 crore in the 2016-17 fiscal, compared to Rs 7,541 crore in 2015-16.
Speaking at the annual press conference in Bengaluru on Wednesday, Gowtama said his confidence about touching Rs 10,000 crore mark comes from the company's order book.
"We have order book of Rs forty plus thousand crore in all verticals. There is no vertical where we do not have an order at this point of time and I can tell you for sure that this year we are aiming to cross Rs 10,000 crore. I hope certainly we would," he said.
BEL said it has prepared a three-year Research and Development plan for 2017-20 with enhanced focus on collaborative R&D.
Speaking about it, Gowtama said, "for the next three years we have more than Rs 2500 crore worth R&D programmes lined up. Some are at an advanced stage, some are already initiated and rest are going to be initiated".
By Business Bureau
