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Godrej Appliances
Godrej Enterprises Group expects sales of its air conditioners to grow 50 per cent in the next fiscal on the back of continued robust demand and its new range of products, including smart ACs, a top company official said on Tuesday. With the early onset of summer, the group expects the overall industry demand for ACs to be strong at around 30-35 per cent growth but not as high as 60 per cent witnessed last year due to a high base, Godrej Enterprises Group, Business Head & EVP, Appliances Business Kamal Nandi told PTI here. The group on Tuesday ramped up its AC portfolio, including a premium range of smart ACs and also announced its foray into the commercial AC segment with Cassette ACs and Tower ACs. "We will be ending this year (FY25), doubling our volumes. We will be closing this year with about 10 per cent market share. This is up from 6.7 lakh to 14 lakh units. We are growing more than 100 per cent against industry growth that will be roughly about 36 per cent," Nandi said ...
Home-grown firm Godrej Appliances expects to become a billion-dollar company by the end of this fiscal, led by a 30 per cent growth in topline, a senior company executive said. The company is "very optimistic" about the short-term and mid-term outlook of the domestic market, during which it will launch new products and has plans to launch around 50 new models across categories in FY25, its Business Head & Executive Vice President Kamal Nandi told PTI. Godrej Appliances, a unit of Godrej & Boyce, recorded 60 per cent overall growth in the first quarter, led by an unprecedented demand for air-conditioners. "We have registered over 60 per cent growth in Q1 and expect to close the quarter at 50-60 per cent growth. While demand is slower in the south and west, north and east are improving. Overall, we expect to close the quarter with over 50 per cent growth," Nandi said. In categories such as air-conditioner, Godrej Appliances recorded over 100 per cent growth in sales, as some ...
Godrej & Boyce and Godrej Properties on Wednesday said they would continue their association for land development at Vikhroli in Mumbai, a day after the founding family of the Godrej group announced an amicable split of the conglomerate. In a joint statement, Godrej & Boyce, owner-developer, and Godrej Properties, the development manager, said the two companies will continue their Memorandums of Understanding executed from time to time, for development of land in Vikhroli as and when the owner is desirous of developing the land. Godrej Construction, a business of Godrej & Boyce, designed and built four phases of Godrej Platinum, a residential development project with a total constructed area of 1 million square feet, which has been marketed by Godrej Properties. In March 2024, a new project named Godrej Vistas was successfully launched under this arrangement, it added. "The future development of Vikhroli presents a unique opportunity to create a holistic space in the ...
Godrej Electricals & Electronics on Thursday said it has secured orders worth over Rs 1,000 crore in financial year 2023-24 in power and infrastructure business. These orders predominantly entail both Air Insulated Switchgear (AIS) and Gas Insulated Switchgear (GIS) substations across India, with certain projects of up to 765kV capacity, a company statement said. Each of these projects range from Rs 100 crore to Rs 400 crore in value, it added. We are delighted with our recent order acquisitions, which further solidify our presence in the segment of over 400kV," Raghavendra Mirji, Executive Vice President & Business Head, Godrej Electricals & Electronics said. Mirji further noted that securing the inaugural 765kV GIS order for execution at Khavda, in Gujarat marks yet another significant milestone for the company, symbolizing its dedication to pushing the boundaries of technological advancement. Mirji said, "majority of our orders secured in FY 2023-24 pertaining to ...
Godrej Locks and Architectural Fittings and Systems (GLAFS) is aiming to achieve 2-fold growth over the next three years, as it is betting big on digital locks, a segment showing promising trends in both residential and commercial spaces, a senior company official said. The architectural solutions and fittings segment now contributes to almost 40 per cent of the national turnover expected to reach over Rs 1,000 crore this year, Shyam Motwani, Business Head, Godrej Locks and Architectural Fittings and Systems, told reporters in Panaji last week. Motwani was speaking during the third edition of the Godrej Value Co-Creators Club (GVCC) awards, known as The GEEVEES, which celebrates creativity, innovation, and sustainability in design. Motwani also emphasized the importance of the architect and interior design community, stating, "we want to celebrate the efforts of these value co-creators who play a crucial role in enhancing the functionality and aesthetics of our living ...
Homegrown white goods major Godrej Appliances on Tuesday said it expects at least a 20 per cent growth in sales of air conditioners and refrigerators during the summer season. The city-based company is the fourth largest air conditioner brand with 0.7 million units sales and the fifth when it comes to refrigerators with 1.8 million sales in the country. "We expect the summer to be scorching this year after an extended winter and this should help us clock at least 20 per cent uptick in volume for both ACs and refrigerators. "Last year, our AC sales more than doubled," Kamal Nandi, executive vice president and business head at the Godrej Appliances told PTI here on Tuesday. He was speaking on the sidelines of the launch of its new range of wood-finish and natured-inspired refrigerators and air conditioners. Nandi said he expects at least 10 per cent of incremental volumes to come in from these new products which will command a 5 per cent premium over its existing products. While it
Godrej Appliances is targeting a turnover of Rs 5,500 crore in 2022-23 and around 35 per cent of the sales will be contributed from its premium range of products, a top company official said. Besides, Godrej Appliances is also investing Rs 200 crore in the capacity expansion of its premium range and adding more products, which will be largely done at its Shirwal, Pune-based plant, the company's Business Head & Executive Vice-President Kamal Nandi said. The company has a "very good response" from the market for its premium portfolio product range, in which it has invested Rs 250 crore so far, Nandi told PTI. "Our efforts of the last two years to bring out premium portfolio across categories have started paying off now very well," he said, adding, "I think the premium portfolio that we have done so... is going to get larger in this year as more new products in the segment are going to be launched. We are targeting another Rs 200 crore to be invested in this portfolio and capacity ...
Godrej & Boyce, the flagship company of the Godrej Group, on Tuesday announced its foray into the dishwashers market and is eyeing 15 per cent market share by the end of this financial year in this segment. The pandemic has upped stress level of consumers significantly. City-based consumers particularly... are juggling their office work with household chores while trying to limit their dependence on domestic help to avoid health risks. This has led to a surge in effort minimising appliances like dishwashers. We believe that this category will continue to see growth even post pandemic as more and more consumers discover the value this product can add to their lives," Godrej Appliances Business Head and Executive Vice President Kamal Nandi told reporters at a virtual press conference. He further stated that the dishwasher segment is at a very nascent stage and the total market size is expected to cross USD 90 million (Rs 667-700 crore) by 2025-26. "We are targeting 15 per cent ...