Maruti Suzuki India Ltd.

In a bid to double its annual production capacity to about 3 million units, Maruti Suzuki India, the country’s biggest carmaker by sales volume has acquired land in Gujarat for its fourth plant. The fourth plant is slated to begin production in 2017 at the earliest and help expand exports to Europe and the Middle East.

Meanwhile, the company is all set to start work by March on its third plant in Mehsana district, also in Gujarat, with production to begin in 2015.

The company reported 143.74% surge in its net profit at Rs 501.29 crore for the quarter ended December 31, 2012 as compared to Rs 205.62 crore for the same quarter in the previous year. Total income from operations of the company increased by 44.86% at Rs 11200.34 crore for quarter under review as compared to Rs 7731.60 crore for the quarter ended December 31, 2011.