Calcutta, Oct. 13: Plywood and decorative veneer maker Century Plyboards is targeting a revenue of Rs 500 crore in five years from its lifestyle furniture business segment Nesta. The company ventured into this segment in August and has put in place an investment outlay of Rs 100 crore.
The company, which is currently outsourcing a large portion of its furniture from abroad, has purchased a 50-acre plot in Nellore, Andhra Pradesh, to start manufacturing domestically.
"We are currently not manufacturing. So we are looking at putting up a plant in Nellore. We have acquired the land. It is on 50 acres. It will take two years to be operational. The plant capacity will depend on how many boards we will cut a day," said Sanjay Agarwal, managing director of Century Plyboards.
He was speaking on the sidelines of the launch of the second Nesta store in Topsia, Calcutta. It had opened the first store in Bangalore in August this year. While the plant capacity is still being worked on, it may amount to 3,000 board pieces a day entailing an investment of Rs 70-80 crore.