New Delhi, Aug 8 (PTI) Veerhealth Care on Thursday announced the acquisition of a land parcel near its Vapi factory in Gujarat under an ongoing Rs 33-crore expansion plan.

The acquisition of the land parcel will enable the establishment of new manufacturing lines compliant with CGMP norms (Current Good Manufacturing Practice) as required by the US FDA, addressing the increasing demand from the US, East & North African markets, the company said in a statement.

Also Read | Mpox Outbreak To Be Declared Public Health Emergency? Ahead of WHO Meeting on Africa Situation, Know Symptoms, Causes, Treatment and Preventive Measures.

Veerhealth Care has acquired an additional 27,451 square feet of land adjacent to Vapi facility, the statement said. The total plot area will be 58,623 square feet, combining the existing 31,172 square feet with the newly acquired 27,451 square feet.

The oral care & personal care product manufacturer anticipates substantial demand and positive feedback from the US, East & North African markets following the initial supply of oral care products. To meet this anticipated demand, Veerhealth Care Limited will introduce high-capacity manufacturing and filling lines in the new facility, it stated.

Also Read | Shillong Teer Results Today, August 08 2024: Check Winning Numbers, Result Chart for Shillong Morning Teer, Shillong Night Teer, Khanapara Teer, Juwai Teer and Jowai Ladrymbai.

Veerhealth Care Managing Director Bhavin Shah said, "We are aiming to achieve a revenue target of ?100 crore over the next 2-3 years, with a 10% PAT margin.

"Our commitment to producing pure vegetarian, Ayurvedic herbal products remains steadfast as we continue to strengthen our position in the healthcare sector.”

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)