Bharat Forge Ltd has signed an MoU with the Tamil Nadu government to invest upto Rs 1,000 crore over the next five years.

The investments will be made as part of the expansion of the company's operations in the State.

This MoU doesn't significantly affect the company's operations. Further updates will be shared by the company in due course, it said.

Bharat Forge's leadership, in a recent CNBC interview, highlighted a strategic approach to growth and diversification. They emphasised a focus on sustainable, high-quality ventures for long-term success.

Chairman Baba Kalyani aims for an ambitious Rs 20,000-crore revenue target in two years. Additionally, he anticipates the defence sector could surpass their core business in size soon.