Intex May Invest Rs. 300 Crores to Double Revenues

Indian handset maker Intex Technologies on Monday said it may invest Rs. 300 crores towards promotional programmes of its mobile phones and other products, aiming to double revenues to Rs. 8,000 crores this fiscal.

The company roped in Tollywood actor Mahesh Babu as its brand ambassador for Andhra Pradesh and Telangana.

Keshav Bansal, director Intex said it will be investing Rs. 1,500 crores in an upcoming plant at Greater Noida, and Research and Development in the next three years.

"The mobile phone vertical contributes about 75 to 80 percent to the overall revenues of the company. This year, we are looking at Rs. 8,000 crores from mobile business. For the marketing, we are looking at around Rs. 300 crores investment in the overall brand. Out of which, 85 percent would be spent on mobile only," Bansal told reporters on the sidelines of announcement of new band ambassador for the states.

The company has four manufacturing facilities and expects to roll out smart phones from its Greater Noida plant in the next three to four months. The capacity of the plant would be 3.5 to 4 million handsets per month, Bansal explained.

"We are a zero debt company till date," he said when asked about the investments required to achieve Rs. 8,000 crores turnover. The company's revenues stood at Rs. 4,000 crores during the last financial year.

He said the company is growing at 100 percent rate year- on-year on the back of strong dealer network and launching of affordable phones with good features.