Bajaj Electricals eyes Rs 300 crore exports revenue in 3 years

Riding high on favourable exchange rates, Bajaj Electricals is eyeing Rs 300 crore revenue from exports over the next three years, a top company official said.
"The demand for consumer durables and lighting in overseas market is quite significant and we wish to tap this opportunity. We want to increase our exports and over the next three years we expect to take it to Rs 300 crore from the current Rs 45 crore," company's chairman and managing director Shekhar Bajaj told reporters here today.
The company currently has presence in 13 countries prominently in the Middle East and Africa.
"We wish to expand our footprint in another 25-30 countries by FY15," he said.

The company expects to close the current fiscal with Rs 4,200 crore sales and eyes Rs 5,000 crore in FY15.
He further said the company will focus on the rural market to achieve its target.

"We will be focusing on the rural markets, especially for lamps, tubes and energy efficient tubes and work in this regard has started," company's Executive Director, consumer products P S Tandon said.
The company, which turned 75 last year, has set up 68 exclusive showrooms 'Bajaj World' nationwide, especially in the rural markets, which would ensure that all its products are under one roof.
By the end of the fiscal they hope to increase the showrooms to 75. "We expect to increase the number of stores to around 150-175 by FY15," he said.

Bajaj Electricals is also setting up a state-of-the-art R&D centre at Mumbai at an approximate cost of Rs 60 crore.
"The centre will study market needs and make what the consumer wants. We want to innovate products for the Indian market as usage of the products is different in different states," Bajaj added.
On its engineering business, Bajaj said, "We have an order book of Rs 2,100 crore as on December 1 and expect a significant increase in order inflow in the next fiscal.