The MAI-listed Phol Dhanya Plc (PHOL) is focusing on its new infrastructure business, expecting it to become the main source of revenue.
The company distributes safety gear and designs water-treatment and recycling systems but in recent years has diversified into infrastructure projects, particularly water management.
Since listing on the MAI in December 2010, Phol has enjoyed sales growth of 10% per year.
But it believes the rising trend of the new business can boost sales and profits to grow by 15% this year.
Under the plan, the annual revenue target will grow from 800 million baht at the end of last month to 2.5 billion in five years.
Chavalit Wangthamrong, the chairman and executive director, said the target excludes investment abroad.
Four local waterworks projects are planned this year, costing about 50 million baht each.
Two are now in the bidding process, while bids for the other two will be held in the second half.
Funding for all the projects will come from bank loans, as Phol's debt-to-equity ratio is relatively low.
"The water management business has huge room for growth in both Thailand and Asean, with a satisfactory 20% return a year," said Mr Chavalit.
For projects worth more than 100 million baht, Phol will join hands with one of its major partners _ Hydrotek, TRC Construction and Universal Adsorbents & Chemicals.
Shares of PHOL closed yesterday on the MAI at 4.56 baht, up 20 satang, in trade worth 38.1 million baht.