GRSE aiming at 25 percent turnover rise in FY13

Kolkata, April 17 (IANS) The Garden Reach Shipbuilders and Engineers Ltd (GRSE), a central government undertaking, is aiming at a 25 percent growth in turnover this fiscal at Rs.16 billion. It had a turnover of Rs.12.83 billion during the last fiscal.

"Our turnover target for this fiscal is Rs.1,600 crore," GRSE chairman and managing director (CMD) A.K. Verma told reporters here Tuesday.

"The company posted a turnover of Rs 1283 crore last fiscal."

He said the company was eyeing a turnover of at least Rs.30 billion in five years.

"In the next five years, we would like to reach Rs.5,000 crore, but that is in our future thinking... we would like to go to that level. We want to reach at least Rs.3,000 crore in five years' time," the CMD said.

The company has already secured an order book of Rs.100 billion in 2012-13, he said.

GRSE had delivered five warships during 2011-12 and bagged an order for $58.5 million from Mauritius. "The construction is going on and the ship will be delivered in 2014," Verma said.

The company said it had bid for export orders in countries in Middle East and Africa.

The CMD, however, declined to divulge any details on that. "Discussions are on. I would not be able to discuss details on that at this point of time," he said.