Fischer Group targets threefold turnover growth in India's construction sector over next 5-7 years

Germany's fischer Group, a key player in construction industry fixing systems, is aiming to triple its turnover in India over the next 5-7 years. The group, with a turnover of approximately Rs 200 crore last year, is strategically targeting infrastructure projects and sectors like energy, industry, and oil and gas to tap into India's growing construction industry.

Oliver Geibig, Managing Director Business Units & Engineering at fischerwerke GmbH & Co KG, emphasised India's importance to the group, citing its involvement in crucial construction projects. The fischer Group comprises divisions in fixing systems, automotive, fischertechnik, consulting, and electronic solutions, with a focus on fixing systems for the construction industry in the medium term.

Mayank Kalra, Managing Director of fischer India, highlighted the significant opportunities in India's construction sector, projecting the country to become the world's third-largest construction market by 2030. This is based on a national infrastructure pipeline of USD 4.5 trillion and an expected USD 1 trillion real estate market during this period.

Regarding financial targets, Kalra stated a goal of consistent 20 per cent growth over the next 5-7 years, with plans to triple their business. The primary focus will remain on infrastructure projects such as metro rails, airports, renewable energy, nuclear, and industry, oil, and gas.

The fischer Group, known for contributing to fixing systems to notable projects in India, has established an IT hub in Bengaluru, with intentions for further expansion. While involved in automotive solutions, Geibig clarified that, at present, the group is not considering entering the automotive segment in India, maintaining a steadfast focus on the construction sector.

(With PTI Inputs)