Precision Engineering aims ten-fold growth by 2019

BANGALORE: Titan Company’s smallest business vertical, Precision Engineering, aims to record a ten-fold growth by 2019, during which time a possible decision to carve out the vertical as a separate company would also be made by Tata Sons.

Cyrus Mistry-led Tata Group would pump money into the capital intensive Precision Engineering vertical, which gets revenues of Rs 200 crore from making fine components for automobiles and aerospace, said two senior executives at Titan.

“One option is to spin it (Precision Engineering) off into a separate subsidiary and let it grow,” said Bhaskar Bhat, managing director at Titan, adding the aggressive push by the $100-billion Tata Group in aerospace could see the Precision Engineering getting merged with another unlisted Tata company.

“We have another Titan under our fold.” However, Bhat maintains the engineering component unit, which is an offshoot from Titan’s watches division, would remain under the Titan brand for at least two years.