Canon India expects Rs1,000 cr revenue in two years

Canon India expects Rs1,000 cr revenue in two years
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First Published: Sun, Oct 05 2008. 03 21 PM IST
Updated: Sun, Oct 05 2008. 03 21 PM IST
PTI
Mumbai: Imaging technologies provider Canon India has said it expects to double its turnover to Rs1,000 crore in the next two years, from its present Rs500 crore.
“We took 10 years to achieve sales of Rs500 crore. But in the next two years, we expect our sales to double,” Canon India Senior Vice President Alok Bharadwaj said.
The company closed 2007 with sales worth Rs500 crore and expects to close 2008 with sales of Rs700 cr. Last year, it witnessed a growth of 35%. This year, the company would have a growth of 35-40%, Bharadwaj said.
The growth in revenue is largely because the company has added products for more industries and is concentrating on its top 100 corporate clients.
“We have formed a separate sales team to cater to our top 100 corporate accounts,” he said adding that Canon has increased the retail points from 2,500 tone up. The rupee has gone up by 14% against the US dollar, he said.
“At the beginning of the year, we were buying at Rs41 for a dollar, but now it is Rs47 to a dollar,” he said.
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First Published: Sun, Oct 05 2008. 03 21 PM IST