Viki Industries Targets Rs 2,000 Cr Revenue with New TMT Bar Range

Chennai-based Viki Industries, known for its iSTEEL brand of TMT bars, has announced its ambitious goal to reach a revenue target of Rs 2,000 crore. In a strategic move to expand its product line, the company recently introduced iSTEEL Zinc and Galvanised XLS TMT Bars. These new offerings are designed to provide up to three times the lifespan of traditional TMT bars, addressing the significant issue of corrosion, especially in coastal and industrial regions like Tamil Nadu.

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The introduction of iSTEEL Zinc and Galvanised XLS TMT Bars marks a significant step for Viki Industries in catering to the construction needs of areas prone to corrosion. CEO G Gautam Reddy highlighted the potential for these products to offer long-term cost benefits through reduced maintenance and replacement needs. With over three decades of experience in the construction steel industry, Viki Industries aims to leverage its expertise to meet the growing demand for durable building materials.

Corrosion is a major concern in India, leading to annual losses estimated at Rs 6 lakh crore. The launch of these zinc-coated and galvanised TMT bars by Viki Industries is poised to address this challenge effectively. The company's new range is specifically designed for use in coastal regions, foundations, industrial settings, and water tanks, offering enhanced durability and longevity.

According to CEO G Gautam Reddy, buildings constructed with iSTEEL Zinc and Galvanised XLS TMT Bars could see a lifespan of up to 150 years, a significant improvement over the 50-year lifespan of regular TMT bars. This advancement underscores Viki Industries' commitment to innovation and quality in the construction materials sector.

With a current turnover of Rs 650 crore, Viki Industries is set on a path of rapid growth. The company's confidence in achieving its Rs 2,000 crore revenue target is bolstered by the success of over three lakh homes built using the iSTEEL range of TMT bars. This expansion not only reflects Viki Industries' dedication to enhancing building standards but also its commitment to contributing positively to India's infrastructure development.