Chennai-based TI Cycles, part of the $3.03 billion Murugappa Group, is on course to achieve its bicycles sales target of 4.3 million and cross `1,000 crore in turnover this
fiscal, a top company official said. “We have sold 3.85 million cycles last year and are on track to achieve the target of 4.3 million. We are also targeting `1,150 crore turnover against ` 960 crore last fiscal,” TI Cycles and BSA Motors president, Mr D. Raghuram, said. The company in the last six years has achieved a 20 per cent year-on-year growth. Mr Raghuram also claims the company holds a 32 per cent market share in traditional models and 50 per cent in the special models category.