Brownfield projects in Vizag, Hyderabad to get over in 2019: Divi’s

Divi’s Laboratories has said the brownfield projects under way at its facilities in Visakhapatnam and near Hyderabad are likely to be completed in 2019.

According to the pharma firm, work has commenced and the projects are expected to be completed by end of the year 2019 barring unforeseen circumstances.

It said in a statement that the investment in the project at its Unit-2 in Visakhapatnam, named DCV SEZ Unit, has been revised from ?400 to Rs 600 crore.

Entailing an investment of Rs 600 crore each, the two projects had been conceived in the backdrop of increasing opportunities in generic and big pharma business.

On the standalone results for the second quarter of this fiscal, the company said it had posted a net profit of Rs 397.65 crore. Compared to the year earlier,s Rs 206.78 crore, this was an increase of over 92 per cent

Image Credit : bsmedia.business-standard.com

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