Praj Industries has outlined its plan to triple its annual revenue to INR 10,000 crore by 2030, focusing on opportunities in sustainable aviation fuel (SAF), biopolymers, and energy transition initiatives. The company, which currently generates revenues of approximately INR 3,400 crore annually, also aims to increase its export share from 29% to 50% by the same year.
A significant driver of this growth is expected to be the energy transition and climate action sector, which includes areas such as blue and green hydrogen, green ammonia, and waste-to-energy solutions. These segments align with global clean energy investments, projected at INR 25 lakh crore by 2030. Praj has also invested INR 400 crore in an advanced manufacturing facility in Mangalore, Karnataka, capable of supporting modular plant solutions. The 123-acre facility is expected to generate annual revenues between INR 2,000 crore and INR 2,500 crore at full capacity.
The company is leveraging developments in SAF production, particularly following the successful flight of a commercial aircraft powered by indigenously produced SAF. This aligns with India’s SAF blending targets of 1% by 2027 and 2% by 2028, as well as higher targets set by the EU and the US.
According to Atul Mulay, President of the Bioenergy Business, the company sees strong potential for growth in domestic and export markets as it expands its portfolio and aligns with global sustainability goals.