Auto component maker JBM Group said that it expects revenue to grow over 20% this fiscal on account of revival in the automotive market. The company which had clocked a turnover of INR 2700 crore last fiscal is in final stage s of tying up with a European firm for its planned foray into bus manufacturing.
Mr Nishant Arya ED of JMB Group said that �The atmosphere is positive in the Indian automobile industry and demand is coming back from original equipment manufacturers.�
Mr Arya said with sales reviving across the segments such as passenger vehicles, two wheelers and commercial vehicles, the profit margins of the company have also improved.
Mr Arya said that �The group is targeting revenue of INR 3,300 crore in the current financial year.� Besides the group firm JBM Auto Ltd is expecting its turnover to grow to INR 350 crore in FY'10 from INR 216 crore in last fiscal.
He also announced JBM's partnership with designing firm Dassault Systemes to enter the education sector to give training to auto designers and engineers.
Asked about its planned foray into manufacturing of buses in the country, Mr Arya said that �We have almost finalised our partnership with an European firm and initially the products will be rolled out from our Kosi plant in Uttar Pradesh.�
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