State-owned Bharat Heavy Electricals Ltd (BHEL) aims to double the share of non-power projects to its total business to 40 per cent in three-four years.

According to Amitabh Mathur, Director, the verticals that will receive focus will be solar, municipal water projects, defence, aerospace and metro and high-speed rail projects.

At present, power and associated businesses account for nearly 80 per cent of its total revenue. The remaining comes from railways and other electrical products. In FY17, the company had total revenue of ₹29,475 crore.

To grow its topline, BHEL plans to go for turnkey projects in the non-power segments.

“Instead of going in for only product sale, the revenue will be higher if we can handle the entire project like we do in the power segment,” Mathur told BusinessLine .

BHEL is in the process of floating expressions of interest (EoI) for some of these projects on a public-private partnership basis, he added. “Say, for instance, in metro projects, we will not only make coaches but will also look at laying tracks, signalling etc. We do not have expertise so we will enter into tie-ups.”

The company is hopeful of bagging orders for the proposed Ahmedabad-Mumbai bullet train.

BHEL is also looking at waste water treatment and municipal sewerage system projects. It has mapped the 200-km stretch of the Ganga from Rishikesh to Garhmukteshwar. Plans are afoot to submit proposals to set up sewerage treatment plants, said Mathur.

BHEL is also in touch with the municipal authorities of Patna and Varanasi for projects in the segment.

This apart, BHEL is “actively trying” to get into manufacturing of space grid solar cells. The company is currently assembling these solar cells at its unit in Bengaluru. “There is likely to be a lot of demand for space grid solar cells. We are already working with ISRO,” said Mathur.

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