The Kochi-based V Guard Industries Ltd has registered a 35 per cent growth in turnover in 2011-12, crossing Rs 1,000-crore mark.

Mr Mithun Chittilappilly, managing director, V Guard Industries Ltd, said at a press meet here on Monday that 23 per cent of the turnover comes from the non-south Indian markets where the company has concentrated for the last four years. The company clocked Rs 228 crore from non-south markets.

He declined to comment on the profitability of the company, as the results are yet to be announced. In the previous financial year, V Guard registered a net profit of Rs 42 crore.

The company is also introducing two new products – domestic switch gear and induction cooker in the market in the current financial year. This is the first entry of V Guard in the kitchen appliances segment, he added.

Wonderla expansion

Mr Arun Chittilappilly, managing director, Wonderla Holidays Pvt Ltd, said on the occasion that Wonderla has proposed to set up two new amusement parks in Hyderabad and Chennai in the next five years at an investment of Rs 550 crore. It has already acquired 55 acres in Hyderabad and is awaiting a legal opinion on the land identified in Chennai.

He pointed out that the amusements parks in Kochi and Bangalore had registered a year-on-year growth of 25 per cent and about 22 lakh guests visited these facilities last year. The amusement park business is an emerging field in India and the company wanted to expand in more places, he added.

Wonderla has opened 84 luxury rooms at its Bangalore theme park, benefiting holidayers to get the twin advantage of a world-class theme park and top notch resort to enjoy hospitality and entertainment under one roof.

Realty venture

Mr Kochouseph Chittilappilly, vice-chairman of the V Guard group, said that the company is entering into the real estate sector in the State with the construction of luxury apartments at Vazhakkala in 50 cents. The second project is a budget residential apartment complex coming up on one acre land at Kaloor.

Ms Sheela Kochouseph, managing director, V-Star Creations Pvt Ltd, announced its foray into kids' innerwear category with the launch of Little Vanessa and Little Valero, a spin-off from the lingerie parent brands Vanessa and Valero.

>sajeevkumar@thehindu.co.in

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