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| Godrej & Boyce eyes Rs 1,000 cr turnover by 2014 |
| Press Trust of India / New Delhi Apr 20, 2010, 15:55 IST |
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Security solutions provider Godrej & Boyce Mfg today said it will invest about Rs 80 crore over a period of three years as it eyes a turnover of Rs 1,000 crore by 2013-14.
"Over the next three years, we will be investing around Rs 80 crore on promotional activities and in increasing capacities," Godrej & Boyce Mfg (GBM) General Manager - International Business & Marketing Communications Security Solutions Division, Mehernosh B Pithawalaa, told reporters.
He said the company will spend around Rs 15 crore on promotions alone in the current year, majority of which would go to print and TV commercials. The company has clocked a turnover of around Rs 400 crore in the last fiscal and expects a turnover of Rs 500 crore in the current fiscal.
"Along with awareness, security solution business is also growing in the country and we are hopeful that the company would be able to clock a turnover of Rs 1,000 crore by 2013-14," Pithawala said.
GBM is also going to make representation to the government along with industry players for fixing the standards in the security solution business in the country.
"Currently, market is full of fly by night operators who are selling cheap and substandard imported Chinese products, which is not good for the segment," Pithawala said.
Speaking about other projects, he said the company is also looking at manufacturing other security equipment such as tyre killers at their Mumbai-based production facility. Godrej & Boyce is in the business of producing safes, locks and other security equipment for over 100 years.
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