Heritage market cap crosses 3,700 Crore

Heritage market cap crosses 3,700 Crore
Highlights

The market capitalization of Heritage Foods Ltd, promoted by family members of Chief Minister N Chandrababu Naidu, has gone up in the last eight months beginning from March.

Amaravati: The market capitalization of Heritage Foods Ltd, promoted by family members of Chief Minister N Chandrababu Naidu, has gone up in the last eight months beginning from March.

According to a release by Minister for IT and Panchayat Raj Nara Lokesh, the market capitalisation of Heritage as on March 31, 2017 was Rs 2,500 Cr. But the present capitalisation is crossed Rs 3,700 crore.

The company which was incorporated in June 1992 entered an agreement for incorporation of 50:50 joint venture company with Novandie SNC during August.

Lokesh said the initial investment of the company was around Rs 190 crore but it took 25 years to cross Rs 2,600 crore turnover. The turnover of 2016-17 is Rs 2,643 crore, according to company.

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