New Delhi, March 24 -- CK Birla Group's flagship BirlaNu, formerly known as HIL Ltd, is set to invest around $150 million ( Rs.1,300 crore) to help achieve its target of becoming a $1 billion (about Rs.8,600 crore) company by 2028 and revive growth.

The Delhi-based firm will look to expand manufacturing capacities and pursue inorganic growth opportunities through acquisitions to drive growth. The company has 31 manufacturing plants in the country and two manufacturing plants in Germany and Austria.

"Investing across our product lines such as pipes, construction chemicals, and flooring and focusing on global growth is going to be important," Avanti Birla, president at BirlaNu, said in an interview. "Hopefully, markets also become better ...