MUMBAI: Transforming itself from a pressure cooker company to a total kitchen solutions company, TTK Prestige has decided to set up manufacturing base in Coimbatore and Himachal Pradesh.
With the aim to expand capacity and avail itself of excise benefits, the company also hopes to increase its penetration in the North-Eastern States.
Marking an investment of Rs 20 crore in the next two years, TTK Prestige intends garnering the funds through internal accruals.
Besides, it has also earmarked a budget of Rs 50 crore for its brand-building initiatives and intends building up a presence in the rural markets of Karnataka and Tamil Nadu.
The Rs 182-crore TTK Prestige has recorded a 93-per cent growth in profit after tax at Rs 3.17 crore for the quarter ended December 31 over the same period last year.