Mumbai: State-run Bharat Heavy Electricals Ltd (BHEL) aims to more than double its turnover to $10 billion (nearly Rs 44,000 crore) by 2011-12.

The heavy equipment manufacturer, which saw its turnover increase by 29 per cent to Rs 18,702 crore from Rs 14,525 crore in the same period a year ago, reported a 42 per cent jump in its net profit for 2006-07.

BHEL, a key producer and supplier of power plants and equipment, posted a net profit of Rs 2,385 crore for the year 2006-07 as against Rs 1,679 crore in 2005-06.

"BHEL plans to have 15,000 MW power equipment manufacturing capacity during the 11th plan,'' the company's CMD Ashok K Puri said. "A strategic plan for ensuring a sustainable and profitable growth for the company has been drawn up to enable the company's turnover to grow from $4 billion to $10 billion by 2011-12," Puri stated at a news conference.

The focus is on capacity and capability enhancement leveraging the company's efforts in its core area of power, supported by industry, transportation, transmission, exports and spares & services businesses, he added.