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Geodesic Techniques targets revenue of INR 1000 Cr. in 3 years and outlines investment of INR 200 Cr

By:   |   Jul 08, 2018   |   Views: 11   |   Comments: 0

Press release for immediate distribution

Geodesic Techniques targets revenue of INR 1000 Cr. in 3 years and outlines investment of INR 200 Cr.

New manufacturing facility at Bidar & urban infrastructure and transportation foray among major initiatives. This reinforces and builds the company's leadership position in the steel-intensive design and build business.

Bangalore, June 24, 2010: Geodesic Techniques, a pioneer and leading provider of steel intensive structures in India, today outlined its aggressive plan to reinforce and build on its leadership position in the design and build of large span, pre-engineered, and steel-intensive structures. The multi-pronged plan consists of rapid acceleration in revenues, higher investments in building new capacity and capabilities, as well as increasing its presence in the urban infrastructure and transportation segments. The company shared that it is projecting revenue of INR 1000 Cr. over the next three years and has committed investments of over INR 200 Cr. The majority of the investment is focused on the new, state-of-the-art manufacturing facility at Bidar, which is operational and will be formally inaugurated by the end of 2010. Presently, the unit has a peak capacity of 65,000 mT/per annum and is among the highest installed capacity in the industry.

In a strategic move, the company has successfully forayed into the urban infrastructure and transportation segments. As one of the players in the Mumbai Monorail project as well as the proponent of the Bengaluru Monorail project, our focus will continue to be on next generation modes of elevated transport. These elevated systems have complex design and steel intensive structures that require technically superior solutions.

Manufacturing Focus

Highly automated machinery from Europe has been installed at the Bidar Factory and places the company at the forefront of technical innovation and capability. The new facility is designed to serve Geodesic's high volume and large infrastructure projects like airport terminals, high rise steel buildings, signature structures, bridges and urban transportation initiatives. The facility will complement the existing specialised and site manufacturing capabilities of Geodesic and is expected to provide employment opportunities for nearly 5000 people.  The facility positions Geodesic Techniques' as India's leading integrated design and build player.

Addressing the company's first formal media interaction since inception, Mr. Srinidhi Anantharaman, Visionary founder & CEO of Geodesic Techniques, said," Today we are at a historic juncture where there is a great opportunity to build on the leadership position in a space that we have nurtured and pioneered over the past two decades. The broader construction space is getting highly organised and competitive.  There is greater awareness and need for new technology

and techniques amongst the customers and it is only apt that being a pioneer, we pull out all stops to retain and build on that position. As India's urban landscape and infrastructure undergoes a radical transformation in the decades ahead, we are preparing ourselves to play an even bigger role."

Elaborating on the outlined plan, Mr. Nikhil Raj, Vice-President of Business Development, Geodesic Techniques, said, "Leadership in this space is a function of capacity, capability and creativity and we are investing heavily in all three areas to ensure we are the partner of choice for any company looking at steel intensive structures in India. The new facility at Bidar is strategically located providing quick, convenient access to the three major regions of demand - south, west and north. We are also increasing our capabilities in design and structural engineering to levels of global excellence  This puts us on par with the best businesses in this segment worldwide. The market response to our moves has been positive -  be it the Mumbai/Delhi airport terminals, the MMRDA Headquarters or the new futuristic TCS facility in Chennai."

Commenting on the foray into urban infrastructure and transportation, Ms. Sumitra Iyengar, Director - Infrastructure, Geodesic Techniques, said, "Indian metros are ready and financially ripe for the best-in-class urban transportation modes and models. It is an opportunity that is waiting to be tapped. As a pioneer with deep expertise in the design and build of steel intensive structures, we bring a unique and competitive advantage to this business. While we are pursuing an innovative approach, we are also partnering with global companies where necessary, to play a pivotal role in the transformation of India's urban landscape. With our initial success in the monorail projects in Mumbai and Bangalore, we believe that our investment in this segment is well placed and will serve as a growth engine."

About Geodesic Techniques:

Bangalore-based Geodesic Techniques was founded in 1986 by visionary entrepreneur Mr. Srinidhi Anantharaman, with the objective of offering technically superior solutions for steel intensive construction projects. Over the years, the company has built an expertise in the integrated design, engineering, procurement and construction process. The company is led by a team of qualified and experienced professionals with over four decades of experience. The company has executed many prestigious projects across the country such as the Tamil Nadu Legislative Assembly Dome, the TCS Signature Structure in Chennai, and the Mumbai Airport Terminal, to name a few. The company currently employs 400 employees across 6 offices in India. For more information, visit www.geodesictechniques.com

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For editorial queries only contact Saritha/Pallabi of PRHUB @/080 22483007/8/[email protected]/[email protected]

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