Balaji Amines receives an allotment of 3.6 lakh square meter of land in Solapur, the land will be used for project expansion. In an interview to CNBC-TV18, D Ram Reddy, Joint MD of the company spoke at length about the same.
We will release detailed report with regards to project on Solapur land in 2-3 months, said Reddy.
He further said that the government of Maharashtra has given the approval for the mega project status for about Rs 300 crore investments in this.
Therefore, we will use Rs 120 crore from internal accruals and will raise Rs 200 crore for expansion purposes by end of 2019.
On revenue front, he said FY18 revenue expected at Rs 800-850 crore.
Talking about hotel business, he said there are no plans to expand the business.Watch accompanying video for more details.