This company of Mukesh Ambani, Isha Ambani eyes Rs 8,000 crore revenue in 5 years, details inside
Reliance Retail-owned Addverb, which is India’s largest robotics company, is aiming to surpass Rs 8,000 crore in revenue in subsequent 5 years. Notably, India’s richest man Mukesh Ambani owns majority stake in Addverb and the company is anticipating to hit Rs 8000 crore revenue by rising its manufacturing operations and opening up new market base. Mukesh Ambani’s daughter Isha Ambani is main Reliance Retail.
According to Addverb Technologies co-founder and CEO Sangeet Kumar, the company is planning to speculate Rs 500 crore in its robotic manufacturing facility to surpass Rs 8,000 crore revenue in subsequent 5 years.
“We will invest Rs 500 crore in our manufacturing facility in phases. Once this investment is done, we expect revenue of USD 1 billion, which will be over Rs 8,000 crore,” Addverb Technologies co-founder and CEO Sangeet Kumar advised information company PTI.
Addverb has a producing unit in Greater Noida and the company has already invested Rs 200 crore in this manufacturing unit which was inaugurated by Uttar Pradesh Chief Minister Yogi Adityanath few days in the past. Addverb manufacturing unit in Greater Noida is unfold over 6 lakh sq. ft.
“Last year, we did revenue of Rs 450 crore. This year we are planning to achieve Rs Rs 1,000 crore. Every year in the next five years, we will double our revenue to reach USD 1 billion revenue,” Kumar mentioned.
Addverb at present caters to solely industrial clients however the company is now planning to develop merchandise which can be utilized in healthcare sector. “By the end of this year, we will have products that can be used in hospitals. We are entering into medical applications in a big way. There are certain products which have been under development for the last one and half years. They will be launched by the end of this year,” Kumar mentioned.