Yoga guru Baba Ramdev said at a press conference in Delhi that his Patanjali group is working on oil plantations in 11 states, with big focus areas being the North East, Andhra, Telangana and Karnataka.

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He also announced the initial public offering (IPO) plans for four Patanjali group companies over the next five years.

“There is a strong array of companies which are there. We are doing our own work, they are doing their own work. The market is growing overall, so there is a lot of space and room for growth for all the companies. We will be very supportive of everyone’s efforts but we will continue growing ourselves quite aggressively,” Sanjeev Asthana, CEO of Patanjali Foods, told CNBC-TV18.

While addressing the conference, Ramdev also mentioned that as part of the Vision 2027 for Patanjali Group, the brand has aggressive plans for oilseeds, which involves setting up multiple nurseries and oil processing units.

Also read: Patanjali IPO: A look at India’s fastest growing FMCG brand’s journey

Patanjali is also looking to set up seed gardens and make big investments in the palm oil business.

“To become self-reliant in palm oil, Patanjali group has announced plans to plant palm trees on more than 15 lakh acres of land. These trees will be planted in 55 districts of 11 states,” said Ramdev.

In 5-7 years, the aim is to earn an annual return of Rs 2,000 crore. In addition, the income will keep flowing for 40 years after the palm trees are planted.

Also read:Patanjali group to have 4 IPOs in the next 5 years announces Baba Ramdev

(Edited by : Shoma Bhattacharjee)