GLOBAL CONNECTION: A. K. Puri (right), CMD, BHEL, with Director, HR, S. K. Jain, addressing a press conference in New Delhi on Tuesday. — Photo: Kamal Narang

NEW DELHI: Bharat Heavy Electricals Limited (BHEL) on Tuesday announced that it was in talks with a number of multinational companies, including Alstom, for cooperation and collaboration in manufacturing equipment for nuclear power plants.

The company also continued its robust growth, posting 42 per cent increase in net profit and aiming for a $10 billion turnover by 20011-12.

Addressing the annual press conference here, Chairman-cum-Managing Director, Ashok K. Puri, said BHEL was in talks with a number of multinational companies for cooperation in respect of nuclear plant equipment but everything was subject to how the Indo-US nuclear deal shaped up in future.

Stating that the company was aiming at a turnover of $10 billion (nearly Rs. 44,000 crore) by the end of the XI Plan from the present $4 billion, Mr. Puri said the company had recorded a net profit of Rs. 2,385 crore against Rs. 1,679 crore in the previous year. "BHEL recorded an exceptional high-growth performance with across the board gains on all parameters in its areas of operation,'' he added. Mr. Puri said the company was in touch with Oil and Natural Gas Corporation (ONGC) for securing orders for building rigs and refurbishing the old ones at a cost of Rs. 680 crore.

"This is one area that we are looking for growth as we have enough experience in this field. We have also another Rs. 600-crore worth of orders lined up in the oil industry,'' he said. BHEL had record order inflows in all areas of operations leading to an all time high order booking of Rs. 35,633 crore, he said.

The year-end outstanding order book stood at around Rs. 55,000 crore.

In the power sector, BHEL secured orders worth Rs. 27,722 crore, crossing the Rs. 20,000-mark for the first time. The company had been receiving orders from the private sector and international power project companies. The company had secured physical orders of Rs. 1,903 crore during the year from international players.

Outlining the blueprint for the future, Mr. Puri said BHEL had crafted a "Strategic Plan 2021'' that would enable its turnover to grow from $4 billion to $10 billion during the next five years. The plan focused on ensuring sustainable profitable growth for the company. The growth planks for the company were expected to be driven by capacity and capability enhancement.

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