Hero MotoCorp, largest two-wheeler maker is likely to set up its fourth plant in Gujarat in March. The company also plans for fifth facility at Karnataka as apart from feeding growing local demand, additional capacity will help the two-wheeler market leader to meet its $1 billion export target by 2020.
The company is likely to spend about Rs 1,200 crore for a two-million-unit capacity plant set up over two phases. The plant location is a 300-acre plot close to General Motors' car plant in Halol, Central Gujarat.
The company’s net profit for the third quarter ended December, 2011 has increased by 43% at Rs 613 crore against Rs 429 crore for the corresponding quarter last year. Total income has increased 17% to Rs 6,108 crore for the quarter under review from Rs 5,224 crore for the same quarter a year ago.
