Biscuits and confectionery maker Parle Products is aiming to double its turnover and cross Rs 20,000 crore in the next five years. The company also expects the staples and snacks segments to be its growth drivers in the coming years.
Parle Products, which is a privately held company, has a present turnover of Rs 10,000 crore plus. As part of its growth strategy, the company is expanding its product portfolio, aiming to be a total food company, by filling up gaps in its offering.
Parle Products is now tapping both retail as well as institutional markets as hotels, which buys in bulk through its innovative offerings as Zeera Jeffs biscuit.
Parle Products which has ventured into staples segment by launching pulses six months back, plans to increase its offerings and distribution.
The company also expects the contribution from its Platina range of premium products to go up by 25 per cent in next three years in the biscuits segment, which presently adds 65 per cent of its total fold.