Mumbai: Bharat Earth Movers Ltd expects revenue of Rs4 billion in the current financial year and Rs10 billion in the next from its railway business, a top official said on Tuesday.
The company’s orderbook now stands at Rs54 billion, Chairman and Managing Director, VRS Natarajan told television channel NDTV Profit.
“The railway metro business is the engine of growth for BEML today. We are quite bullish in the business,” he said.
The company recently got a Rs16.72 billion order from Bangalore Metro Rail Corp and another from Delhi Metro Rail Corp to supply Rs13.65 billion worth of rail coaches.
“We expect to close the rail business turnover from last year’s Rs172 crore to around Rs400 crores current year and have an ambitious target of 10 billion next year,” he said.
At 2.15 p.m., shares of the company were down 0.11% at Rs355.15 in the Mumbai market.