Viki Industries, manufacturers of iSTEEL brand of conventional TMT bars, is looking to achieve revenue target of Rs 2,000 crore, a top official said on Friday.
The company, widening its product portfolio launched iSTEEL Zinc, zinc-coated TMT bars and Galvanised XLS TMT Bars that offers three times higher life than traditional TMT bars, an official said.
The iSTEEL Zinc range of TMT bars would be utilised for taking up construction activities in coastal areas, foundations, industries and in building water tanks.
"Tamil Nadu is highly prone to corrosion, given its coastal nature and heavy industrialisation; hence an ideal geography to launch iSTEEL Zinc, Galvanised XLS TMT Bars. It is estimated that corrosion leads to losses worth Rs 6 lakh crore annually in India" Viki Industries CEO G Gautam Reddy said, after unveiling the new range of TMT Bars, here.
He claimed that the iSTEEL Zinc and Galvanised XLS TMT Bars, offer long-term cost savings with reduced maintenance and fewer replacements.
Viki Industries has over 30 years of expertise in manufacturing and marketing construction steel bars. Buildings constructed with iSTEEL Zinc, galvanised XLS TMT Bars can expect a lifespan of upto 150 years, compared to 50 years with regular TMT Bars.
"We are proud that over three lakh homes have been built with iSTEEL range of TMT bars and we are confident of growing this number exponentially. We have ambitious plans to take our turnover from Rs 650 crore present to Rs 2,000 crore," he added.
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