Roca India planned for Rs 50 crore as capital expenditure (capex) in its greenfield plant in Rajasthan and aims at doubling revenue to over Rs 4,000 crore in the next four years. The wholly-owned subsidiary of Spanish Roca Group is setting up its maiden pipe manufacturing unit at Alwar, Rajasthan, under Parryware and expects the plant would be operational by 2023. Managing Director of Roca India, K E Ranganathan, told the media that despite economic headwinds and cost pressure, the company would continue to invest in India. He unveiled the company’s pipes and fitting products in the city and the northeast market. The company has already covered East India, including Odisha and Bihar while strengthening its footprint in South India. The company would cover the north and western regions of the country soon. Ranganathan said that the company have annual revenue of around Rs 2,000 crore. The company witnessed growth at a 25% Compound Annual Growth Rate (CAGR) and would surpass the Rs 4,000 crore target in the next four years. The pipes market for plumbing is worth Rs 15,000 crore, almost triple of the sanitaryware market, which is Rs 5,500 crore per annum. He said that the pipes business has the potential to overtake the revenue from sanitaryware which currently contributes 75%. In the next three years, its share will reduce to 55%, while pipes will contribute at least 25%. The contribution of the pipe business to its overall revenue is only 5%. Roca India forayed into the pipes segment to increase its revenue share to 15% from 9% in the next five years. Ranganathan said that Roca India contributes 9% of the global turnover. India is the third-largest market in this segment after Spain and Mexico. The company have set a target to expand its share to 15% in the next five years. He added that the company had been impacted by 20% due to cost pressure arising out of increasing commodity prices and rupee depreciation. Image Source Also read: Roca inaugurates a state-of-the-art display studio in Hyderabad