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VA Tech WABAG eyes Rs 3,000 crore revenues in FY2020: Official

Chennai, Dec 6 (PTI): Water treatment firm VA Tech WABAG was expecting to clock revenues of around Rs 3,000 crore in financial year 2020, a top official said here on Friday.

The company had witnessed a fall in its revenues for the year 2019 at Rs 2,781 crore, WABAG Global Head-Business Development, Rajneesh Chopra said.

'We have been given a guidance of Rs 3,000 crore plus (in revenues). (Hopefully) we will be able to achieve that.

last year it was around Rs 2,781 crore,' he told reporters.

The company, in FY2018 had clocked revenues of Rs 3,457 crore, he said.

Noting that the company has been witnessing a 13 per cent CAGR (compounded annual growth rate) since FY2013, he said the value of the orders that were in pipeline was Rs 11,500 crore.

Chopra said the company has introduced the concept of 'One City One Operator' after it was successfully launched it in Istanbul, Turkey.

As part of the government's efforts to improve the waste water scenario with focus on sustainability, WABAG expects this model would be soon replicated across major cities.

He said the company till date produces over 25,000 MLD of water and treats over 30,000 MLD of waste water. In the next two years, it plans to add another 2,400 MLD.

To a query he said the company's project in Istanbul was valued at Rs 450 crore.

'The One City, One Operator concept will enhance the operation and maintenance, revenue and impact the bottomline in a positive way,' he said.

According to him, the company was looking at enhancing the contribution from Operations and Maintenance division to 20 per cent in terms of revenue from the current 15 per cent.

Besides, the company was looking at enhancing the contribution of service division from the existing '15 per cent' to 'one-fourth' of the total group revenues.

He said the company expects to replicate the 'one country one operator' model across major urban regions and open up a multi-billion dollar market in India. PTI VIJ SS SS