TTK group co, Prestige, to invest Rs 250-cr in kitchenware

MUMBAI: TTK group company, TTK Prestige, plans to invest Rs 250-crore in its kitchenware range over a period of 20-months, the Group's chairman and managing director, TT Jagannathan said on Thursday.

Of the proposed investment, Rs 200-crore would be through internal accruals while the remaining Rs 50-crore would be tied-up through bank debt, payable over a period of six-months, he said.

"The investment will be to develop our kitchenware range," Jagannathan told reporters on the sidelines of a retail summit in Mumbai.

The company also plans to scale-up its production capacity from the current four-million units to 10-million units over a period of time, he said, adding the capacity ramp-up will be across its Hosur, Coimbatore and Roorkee production facilities.

TTK Prestige is also looking at acquisitions in the kitchenware range in the domestic market, Jagannathan said, without, however, divulging any details.