New Delhi: Titan Industries Ltd, watch and jewelry maker anticipates 50 percent growth in its net profit, for the recent fiscal (2007-08).

Bhaskar Bhat, the company’s managing director said that revenue is expected at 31.5 billion rupees as against 21.4 billion rupees in the last fiscal, while the company's EBITDA margin is expected at 11 percent.

Mr. Bhat said, “We did 1 billion (rupees) last year, profit after tax. The minimum to expect is 50 percent growth.”

Titan was also looking at the U.S. market for its jewellery business.

He said that the Titan anticipates selling 10 million watches in the existing year, nine million of them in India.

It also expects a 50 percent rise in export revenue from watches in this fiscal year, from 1 billion rupees last year.

“Our medium-term target is to sell a million watches in exports,” Bhat said.

Titan plans to raise the total of its watch stores to 270 from 225, in this fiscal year. The majority of them will be franchisees.

Bhat said that the jewelry section brings around 66 percent of revenue, and watches make up 33 percent, the margin on jewelry is about one-third that of watches.