Haryana State Cooperative Supply and Marketing Federation Ltd (HAFED) earned a net profit of Rs 33.78 crore on a turnover of Rs 3,092 crore for 2009-10, said a senior official.
HAFED has set a target of a turnover of over Rs 5,000 crore during 2010-11, according to an official statement released after Financial Commissioner and Principal Secretary,Cooperation, Manik Sonawane met the Board of Governors of HAFED at Panchkula.
Addressing the representatives of the cooperative marketing societies, Sonawane said that the HAFED started its business with a share capital of Rs 23 lakh in June 30,1967, which has increased upto Rs 10.60 crore on March 31,2009.
He said that HAFED sold consumer goods to the tune of Rs 34.28 crore during 2008-09 and Rs 38.92 crore during 2009-10, which was an all-time high.
HAFED had also taken a partnership of 15 per cent with Ahmedabad Community Exchange in Derivatives and Community Exchange Limited.
Manik Sonawane said the marketing and business activities were being promoted by HAFED, which includes setting up turmeric processing plant at Radaur, increasing storage capacity and promoting contract and bio-farming, he added.
He said that HAFED took up bio-farming at 750 acres of land in district Kurukshetra, Karnal and Kaithal in 2007 and the scheme has now been extended to the district of Mewat, Jhajjar and Sirsa.