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| Godrej Interio aims to grow at 26% in FY12 |
| Press Trust of India / Hyderabad May 18, 2011, 20:00 IST |
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Furniture brand Godrej Interio, part of $3 billion Godrej Group, aims to grow at 26% in the current fiscal.
The furniture division contributed around Rs 1,500 crore revenues last fiscal, Anil Mathur, Chief Operating Officer, Godrej Interio, said today.
"We expect to grow at 26% this (financial) year. Most of the growth would come from the growing home segment as well as institutional segment which cater to business establishments, government bodies with large deals," Mathur said, after launching the company's new range of mattress category named 'Comfy Meter' here.
He said the furniture division has lined up capital expansion plans of about Rs 100 crore this year which would be used towards brand building and for expansion of existing units.
The company is mulling to invest around Rs 50 crore towards setting up manufacturing units either near Chennai or in Andhra Pradesh, Mathur said.
Godrej Interio currently has four units in Mumbai, Shirwal near Pune and Bhagwanpur (Uttarakhand). It also has an ancillary unit for almirahs in Guwahati.
The firm, which exports office furniture to countries in South America, Europe and the Gulf region, and would now focus on Africa as well, he said.
"Exports now contribute less than 5% of the business and we hope to take it up to 15% in the next two to three years," he said.
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