RPG Enterprises eyes $10 billion m-cap by 2012
RPG Enterprises is targeting a market capitalization of Rs 40,000 crore ($10 billion) and a sales revenue of Rs 35,000 crore by the year 2012. The group is eyeing a three-fold increase in market capitalisation and tripling of its sales in four years, chairman Harsh Goenka told Hindustan Times.
The group currently has a market capitalization of around Rs 10,000 crore ($2.5 billion approximately) with sales adding up to Rs 11,500 crore. While power is the groups biggest business, its interests also include emerging areas like retail, infotech and entertainment as well as old economy businesses like tyres, carbon black.
In an interview with Hindustan Times, Goenka said: "In the eighties and early nineties we grew by acquisitions and then there was a period of consolidation and we even exited some business. The current phase will be a mix of both based on opportunities."
Goenka said that in the next four years the group is likely to invest around Rs 18,000 crore in various business with around Rs 12,000 crore going into its power generation and distribution companies. CESC Ltd and KEC the power distribution company has major growth plans and KEC is also looking at telecom towers and Railway Infrastructure as growth areas.
The retail business will be another cash burner with almost one store being opened every day. Around Rs 1,000 crore is being immediately invested in Spencers, which is the retail arm of the group.
Goenka added that the group is in no hurry to list its retail venture Spencers. "We will do it at the rather time and if the need is felt" he said.
Enter your email to get our daily newsletter in your inbox
- Facebook and Google are already partnered with Reliance and own stakes in Jio Platforms
- Gold set off to a brighter start at the beginning of the week as the price of the precious metal went up by ₹278 to ₹46,013 per 10 grams on Monday.
- According to the plan, new users will get a JioPhone device, unlimited voice calls and data (2GB high-speed data every month) for two years at ₹1,999.