PEBS Pennar eyes Rs 1,000 cr business
Hyderabad: Private equity firm Zephyr Peacock has picked up a significant stake in city-based Pennar Engineered Building Systems (PEBS), a part of...
Hyderabad: Private equity firm Zephyr Peacock has picked up a significant stake in city-based Pennar Engineered Building Systems (PEBS), a part of Pennar Group, with an investment of A Rs v50 crore. PEBS Pennar, which offers end-to-end engineered building solutions across the sectors, feels the investment will help it achieve Rs 1,000 crore sales turnover in the next three years, which translates into annual growth of 40 per cent. The company's revenues for FY-13 are likely to reach Rs 325 crore, a year-on-year growth of 112 per cent. "Within a short span of three years, PEBS Pennar has managed to evolve into a premier provider of custom-designed building solutions to major industrial and corporate houses in India and Africa. It's our goal to achieve Rs 10 billion in sales within the next three years and we are pleased to have Zephyr Peacock with us as our partner in this endeavour," said Nrupender Rao, chairman, Pennar Industries. With Zephyr picking up the stake, two of its representatives � Mukul Gulati and Vishal Dixit will join PEBS board. "PEBS is an excellent addition to our portfolio. We look forward to supporting PEBS in accessing our network of relationships in the global market, developing innovative solutions for the infrastructure sector," said Dixit, Director, Zephyr.