Hindware Home bullish on institutions div

Hindware Home Retail Private Limited (HHRPL), a home solutions enterprise and 100 per cent subsidiary of Hindustan Sanitaryware and Industries Limited (HSIL), expects its projects and institutions division to contribute 25 per cent to the revenue from the current 18 per cent in the next two years.

“Evok, the home furnishing retail store, currently contributes 82 per cent to the revenues while the rest comes from the institutions segment, which includes corporate offices, hotels, malls, airports and guest houses,” DK Jairath, chief operating officer of Hindware Home Retail, told Business Standard.

With clients coming for both renovation and new interiors, he said the institutions segment was growing. “We hope the institutions division would contribute more than 25 per cent in the next two years.” So far, it has done interiors for Central Bank of India, Mahindra Lifespace at Delhi, Ansal API, Omaxe Limited, and various educational institutes.

Evok stores also provides design-to-build interior services by tying up with trained architects, interior designers and project managers.

“Hiring an interior designer could be an expensive affair, so we provide the same service at an affordable cost,” he said. Evok store retails 16,000 interior designing products serving both B-2-C and B-2-B customers.

HHRPL has set a target of Rs 110 crore revenues by March 2012 and plans to open 48 Evok stores by 2014. It has earmarked Rs 250 crore, to be invested till 2014.