Godrej Interio aims to treble turnover at Rs 3,000 cr in 3 yrs

Furniture brand Godrej Interio is planning to treble turnover to Rs 3,000 crore in the next three years.

"We are planning to raise the turnover to Rs 3,000 crore from Rs 1,100 crore during 2009-10, in the next three years," Godrej Interio Chief Operating Officer Anil S Mathur told PTI here.

Godrej Interio is the business unit of Godrej and Boyce Manufacturing, part of the Godrej Group, and has 50 exclusive showrooms in 18 cities and 800 dealer outlets across the country.

Mathur said, the company is planning on a franchise channel, which will encourage entrepreneurs.

"Instead of increasing our exclusive stores, we are planning on this new franchise channel that aims to encourage entrepreneurs," he added.

The company is eyeing 200 franchisees in the next two-years.

He further said that the company, which has three manufacturing units in Mumbai, Guwahati and Uttarakhand, is planning to open two more units by next year.

"We are building a manufacturing unit in Pune with an investment of about Rs 100 crore in two phases, which will be operational by June 2011. We are also scouting for location to open another unit in the southern region," he said.

"We aim to build at least one manufacturing unit in each region," he said.

Godrej Interio, whose exports constitutes just 5 per cent of the total business, plans to pep it up to 15 per cent in the next two years.

"We are already present in Latin America, US and the Middle East countries. Now we are planning to explore new export destinations like North America and Canada," Mathur said.

He said the company is currently clocking a CAGR of 20 per cent, which is expected to be around 30 per cent over the next five years.

The total furniture market in the country constitutes of Rs 30,000 crore, of which only 10 per cent is organised and the rest is unorganised.