12 Kolkata: Premier India Bearings, a city-based industrial bearing distributor, is aiming for a turnover of Rs 500 crore in the next five years. The company plans to invest over Rs 100 crore in Bengal to expand its business in the same period, said its founder, Surendra Choraria.
PIB is also set to launch an e-commerce platform in the next financial year to streamline procurement and expand its market reach.
Established in 1975, the company operates in 19 cities, including Durgapur, Jamshedpur, Surat, Bengaluru, Chennai, Guwahati, Mumbai and Bhopal, among others. In partnerships with Schaeffler, Dodge USA and Bonfiglioli, the company provides bearing solutions to Tata, JSW and various other players in the steel, mining, rail, industrial automation and aerospace industries.
"We are expecting to close the current fiscal with Rs 280 crore revenue while our turnover in the 2023-24 fiscal was Rs 240 crore. Our investment plan in Bengal is focused on the expansion of our equipment maintenance and service business, and we will add more new products to our portfolio. We are also refining our pricing strategies to raise clientele in our B2B operations. Our focus on online business is part of our new strategy to tap into new opportunities. We are looking for new locations in and outside the state to extend our business operations close to new industrial hubs," Choraria said.
PIB is channelling resources into expanding its refurbishment facility in Jamshedpur to enhance capabilities and deliver cost-effective, sustainable maintenance solutions.
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