NEW DELHI: Kalyani, headquartered in Pune Forge plans to invest Rs 2020 crore over the next five years to upgrade its manufacturing facilities and introduce new technologies.

The company, which has three other manufacturing units in Pune, hopes to increase its export revenue from 25-30% of total revenue to around 40%.

Kalyani Forge Viraj director Kalyani told PTI: “We are ready to invest Rs 2020 crore in the next three to five years to buy new technology and upgrade our facilities.”

On the strategy to expand exports, CEO Kalyani said, “Customers in Europe and the US are very interested in us and we have also set up a commercial procurement office in Europe.” “We will increase exports to supply engine components,” he added “This is a plan,” he said.

In the last fiscal, the company’s revenue was around Rs 210 crore.

The company currently generates 70% of its corporate revenues from the automotive components segment and the company is also investing in mining, infrastructure and construction to fuel its growth over the next five years.

“We are increasing our business in new areas like mining, construction and infrastructure. We want to increase our current five businesses to five Kalyani said Rs 100 crore to three times.

The company, which offers ready-to-assemble products for these industries, aims to double its revenues to Rs 15 times crore in the next three to five years, he added.

The company is also looking at making some cultural changes in the organization to improve efficiency.

“Hiring more women is part of our plan to diversify our workforce. Additionally, even though we’ve been working in this industry for 35 people 2000, we’re still trying to create an entrepreneurial environment,” Kalyani said.

When asked about the domestic market, Kalyani said the company is looking to deepen its engagement with the industry by strengthening its product offerings as commercial and passenger vehicle sales grow.

“This year, we are planning to launch around five items to 10 in different segments including automotive and industrial and we want to offer our customers products that are currently being imported,” he added.