AV Birla group eyes $65 bn turnover by ’15

Kolkata: AV Birla group chairman Kumar Mangalam Birla has projected a group turnover of $65 billion by 2015. A major portion of this is likely to come from overseas ventures. He was talking on the sidelines of a seminar organised by National Institute of Personnel Management here on Thursday. 

    Birla said that the group now has $36 billion turnover and 50% of this comes from overseas operations. The AV Birla group firms include Grasim, Hindalco, Aditya Birla Nuvo, Ultratech Cement, Idea Cellular and Aditya Birla Retail. Besides, it has two joint ventures with Sun Life for insurance and mutual fund. The group has presence in 25 countries, including Thailand, Indonesia, China, Egypt, Canada, Australia, Singapore and South America. "Overseas business is very important and half of our revenue is coming from overseas operations," he said. 
    Birla said the group had plans to achieve $30 billion turnover by 2010. But the distinction was achieved two years ahead of time in 2008. "We are in Fortune 500 list since 2008. In next five years, the group will improve rapidly," he added. 
    Incidentally, the group is already among the top players globally in the area of aluminium, cement, carbon black and viscos staple fibre. It is among top three in Asia in primary aluminium and 11th world-wide in cement production. 
'No plan to join Kesoram, Enka boards' 
Kumar Mangalam has no plans till date to join the boards of Kesoram Industries and Century Enka. These are among the three BK Birla group companies that may go to Kumar. The other one is Century Textiles and Industries where Kumar is already in the board since 2007.