Maruti Suzuki India, the leading Indian carmaker, will be setting up a new plant with a manufacturing capacity of 250,000 vehicles per annum at an 800-acre site at IMT Kharkhoda in the Sonipat district of Haryana. The allotment procedures were completed today with the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC).
Earlier, during a press conference in April, the company had said it has been in discussion with the Government of Haryana for investment in a new manufacturing site for its proposed capacity expansion.
The first plant with capacity to manufacture 250,000 vehicles will come up in the first phase, which will attract investments of over INR 11,000 crore. This plant is expected to be commissioned within the year 2025, subject to administrative approvals.
The site will have space for capacity expansion to include more manufacturing plants in the future, the company said.
In FY22, the company had produced 1,652,653 vehicles, 13.4% up over the previous year. Maruti’s domestic sales had meanwhile witnessed an increase of 3.9% to 1,414,277 units last fiscal over FY21.
Further, during FY22, the company registered net sales of INR 83,798 crore compared to INR 66,562 crore in FY21. Despite a 26% increase in net sales, the net profit for the period declined by 11% over the previous year to INR 37,663 million.