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| Godrej Security to focus on consulting business |
| BS Reporter / Chennai/ Hyderabad Sep 08, 2009, 00:29 IST |
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Godrej Security Solutions (GSS), a security equipment and solutions company and part of Godrej and Boyce Manufacturing Company Limited, is looking to strengthen its security consulting business.
Speaking to the media here on Monday, GSS vice-president and business head DE Byramjee said security consulting was growing at a healthy pace. The company would focus on strengthening its presence in the premises security segment.
The security market in the country is unorganised and estimated at Rs 2,000 crore. GSS turnover last year stood at Rs 350 crore, including Rs 35 crore from Andhra Pradesh. During the current financial year, it is targeting Rs 450 crore, including Rs 45 crore from the state. In the last two years, GSS grew at 55 per cent in Andhra Pradesh and the premises security business, which integrates electronic and physical security equipment to control access, contributed 70 per cent to its revenues.
The company is eyeing revenues of Rs 1,000 crore in five years. Also, it would spend Rs 100 crore in four years on research and development, he said. Its products include swipes, treasure chests, coffers, video door phones, 3D face recognition and access control and wireless alarm system.
“GSS would work to promote standardisation of norms and operating procedures apart from offering security products and their maintenance. There is a need for authorising agencies to conduct audit and research on the security apparatus on a regular basis,” Byramjee said.
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