Mumbai: Buoyed by the growth prospectus in the power sector in domestic as well as international markets, infrastructure engineering, procurement and construction major KEC International said it is eyeing an annual growth of 20% in revenue this year.
“At present, the power sector is witnessing a slowdown in the domestic market, but there is huge demand in the international market. Since we are present in both, we expect to grow 20 per cent every year,” KEC International managing director and chief executive Ramesh Chandak told PTI here.
KEC, the flagship company of the RPG Group, which operates in five verticals, including power transmission, power cables, telecom, Railways and water, has businesses in 40 countries and an order book of over Rs 8,400 crore.
“All the five sectors in which we are operating are quite promising. Despite the challenging global economic environment, our strong global presence and diversified business portfolio has helped us in securing new orders,” he said.
Transmission is the core business of the company with nearly 70% revenue contribution.
“We expect more orders coming from this sector over the next one year, even as the other sectors will slowly grow,” he said.
On the domestic power sector scenario, Chandak said, “We are bullish on its growth here. Though there is a slowdown on the generation side due to uncertainty on fuel availability and other challenges, we expect the situation to get better over the next year. But the transmission sector has not been affected as we continue to get orders from the PowerGrid”.
While 60% of its orders come from the international market, 40% is contributed by the domestic market, he said.
“Since we have presence in so many countries, KEC is well placed for achieving its growth targets,” Chandak said.