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Looking to buy more cos in the Rs 100-800 Cr range: Jagannathan from Ttk Prestige

TTK Prestige has acquired 51% of the capital of the manufacturer of modular kitchens Ultrafresh for a sum of Rs 30 crore. TT Jaganathan, chairman of the company, told CNBC-TV18 that they are considering acquiring more companies operating in the same space.

“We are considering several acquisitions from around Rs 100 crore to Rs 800 crore,” Jaganathan said. However, he said he would not be able to give more details since the company has signed non-disclosure agreements (NDAs) with all of the companies it is in talks with.

The company had previously said its revenue growth target was Rs 5,000 crore by fiscal year 25. Last year they made nearly Rs 2,000 crore. So when asked by FY25 how much of the Rs 5,000 crore target would be organic and how much would be through acquisitions, Jaganathan said, “Our projections show that organic growth would be organic. about Rs 4,000 crore and the balance of Rs 1,000 crore would come from acquisitions. “

Shedding light on the acquisition of Ultrafresh, he said: “Ten years ago when we launched our exclusive stores, the interior design looked like a kitchen and many customers wanted to buy the kitchens. So we got into the modular kitchen business, but later we got out because we had no end-to-end control over the business. “

We were looking for a partner who could give end-to-end control as the market for this exists. We think we could reach around Rs 50 crore in the first year and climb to Rs 500 crore in five years, he added.

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He said Ultrafresh made no profit last year because of COVID, but the year before it made marginal profits. Going forward, the projections look good and over time they would acquire 100% stake in the company, he confirmed.

For the full discussion watch the video

(Edited by : Dipikka Ghosh)


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