Godrej Security Solutions aim at 27 percent business growth in FY14

Godrej group company Godrej Security Solutions (GSS) Tuesday said it is aiming to clock 27 percent growth in business to more than Rs.25 crore during this financial year.

"In the last financial year, we had a turnover of Rs.730 crore. This year we are eyeing 27 percent business growth over that," Mehernosh B. Pithawalla, assistant vice president and head-marketing, told mediapersons here.

Pithawalla was in the city to launch the firm's new product 'Matrix with I-Warn', a home safe with an in-built alarm system.

He said that in the home security segment the company was expecting about 38 percent growth in this financial year to Rs.120 crore.

According to him, at present penetrations were very low for home security solutions in India.

Pithawalla, however, said the firm, part of the Rs.14,400 crore Godrej Group, was witnessing a lot of demand growth in the country's tier II and III cities.

He said the company, a division of Godrej & Boyce Mfg Co, was planning to increase its retail footprint across the country, raising the number of outlets to about 6,000 by this fiscal-end from the current 4,000.