Kochi: With pre-fabricating construction slowly picking up in India, RINAC India Ltd an integrated engineering solutions company, on Wednesday said it is targeting a turnover of Rs 70 crore in the 2013-14 fiscal from its construction business.
During the 2012-13 fiscal, the turnover was Rs 10 crore, company's CEO R Krishnan told reporters here.
The Indian construction industry, which contributes about eight percent of the GDP, has a market size of Rs 400,000 crore, he said.
In India, with over a billion population, this technology would eventually come to stay as these are substantially inexpensive compared to the conventional brick and motor constructions and provides thermal insulation, Krishnan said.
RINAC has a state-of-the-art automated manufacturing unit in Murbad in Maharashtra for production of continuous insulated panels used for prefab construction business.
It also has a facility at Bangalore to produce pre insulated panels and refrigeration systems to focus on modernisation of Cold chains and clean room infrastructure for various segments of the Indian industry across different categories.
"The company had demonstrated its speedy supplies to Ministry of Defence at Leh when flash floods in July 2011 had left several homeless and 450 shelters were built within a month," P Sukumaran, Executive Director, said.
"We are also working with the Ministry of Poverty alleviation for affordable housing and mid day meal scheme shelters", he said.
RINAC's pre-fabricated technology was shortlisted along with three other companies for constructing a mock shelter at Thiruvananthapuram,a prelude to construction of a games village to accommodate 4500 athletes and officials of the National Games to be held by December this year.
Krishnan said while a brick and mortar construction of the games village will cost Rs 600 crore with a two year time frame, a pre-fabricated structure would cost only Rs 60 crore and can be built within 6-8 months. This can also be relocated.
The project was under evaluation of the games authority and tendering process is expected to be held within a month.