Grundfos Pumps India Pvt Ltd, the Indian subsidiary of Danish pump manufacturing major Grundfos Holdings, is planning to double its capacity with an investment of Rs 200-230 crore.
The company would also focus on developing India-specific products along with research and development support for its global operations.
“We are the largest pump manufacturer worldwide and are now looking at expanding our presence in India. We are looking at a growth, such as to have triple the size of the company over the next five years in India,” said Carsten Bjerg, group president/CEO, Grundfos Holding A/S. The company registered a turnover of Rs 318 crore in 2012.
It plans to improve performance in areas where it is not strong — product range — and would set up local R&D to meet the Indian requirements as well as to serve the parent company in global research.
“The investment for the new plant would be Rs 200-230 crore in two phases,” said NK Ranganath, managing director, Grundfos Pumps India Pvt Ltd. The company is using around 75 per cent of the capacity in its existing facility.
It has been in the organised sector for years and was growing at 30-35 per cent annually, except in 2009 and 2012, as the market was affected in these years due to the economic situation, he said.
Grundfos Pumps India, part of the Euro 3.5-billion parent firm, has a manpower of around 200. The company has also worked on projects to provide solar-powered water pumps in villages where there is no power supply, a model, which helps villagers fetch water from wells without using handpumps.