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Godrej Locks
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 ...
Locks and security solutions company Godrej Locks has said it aims to increase market share from 30 per cent to 50 per cent in three years, riding on a new range of affordable products and reduced prices of existing ones. Shyam Motwani, business head for Godrej Locks and architectural and systems, said the company's newly-launched products are over 50 per cent affordable than the existing locks, while efforts have been undertaken to make the existing locks cheaper by 7-8 per cent. The company will rely on new affordable range and price cuts in the existing locks to achieve the objective of having the dominant market share in around three years, Motwani told PTI. The target is to grab 50 per cent market in the segment from the current 30 per cent, Motwani said, adding that the company sees a massive opportunity for its products in the tier-2,3, 4 cities and towns. He further said the newly-launched locks have been designed and developed in-house, keeping in mind the needs and ...
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 ...
Godrej Locks & Architectural Fittings and Systems, a division of Godrej & Boyce, has set its sights on substantial growth of achieving an 8-10 per cent increase in its topline, which is double the sector's expected growth rate, a senior company official said on Monday. Retaining an optimistic outlook, the country's largest lock maker noted that the urban market has rebounded to pre-COVID growth levels, surpassing its previous performance. However, the rural market presents a more challenging scenario, with a projected two-year timeline for a full recovery, given the larger impact of the COVID-19 pandemic in rural areas, Shyam Motwani, Business Head of Godrej Locks. He said rural and semi-urban areas account for 25 per cent of their business, while the remaining 75 per cent is urban centric. In an effort to embrace evolving consumer preferences, the company is focusing on digital technology locks, which currently constitute only 3 per cent of their revenue but are doubling in ..
Godrej Locks and Architectural Fittings is looking at clocking Rs 1,100 crore turnover this fiscal, a 24 per cent year-on-year growth, a senior company official has said. Talking to reporters in Panaji on Saturday, Shyam Motwani, Business Head, Godrej Locks and Architectural Fittings and Systems, said the unprecedented success for the company was due to a huge demand for digital locks and spurt in residential real estate. "The unprecedented success that we achieved is because there is a huge digital trend witnessed in large metros and there is a huge spurt in residential real estate," he added. He was speaking to media persons at the backdrop of the second edition of The GeeVees, an award introduced by Godrej Locks to recognise the best and upcoming talent in the Architect and Interior Design community in the country. Motwani said that the company would be clocking around Rs 1,100 crore turnover as of March 31, 2023, which will be a growth of Rs 270 crore over the previous fiscal a
Godrej Locking Solutions and Systems, part of Godrej & Boyce, is eyeing Rs 1000 crore revenue by FY22, betting on premiumisation and its entry into new categories, especially kitchen fittings. This year, the company aims to clock a revenue of Rs 720-750 crore from over Rs 600 crore in FY 18. "If we continue to maintain a compounded annual growth rate (CAGR) of 18 per cent, going forward to FY 21-22, I think we should be able to have a four digit revenue by then, which is Rs 1,000 crore plus," Godrej Locking Solutions and Systems EVP and business head Shyam Motwani told PTI. He expects architectural fittings and premiumisation of some segments of the locks category to be the growth drivers. In architectural fittings and systems, which had a soft launch in FY13, the company has identified kitchen fittings as a growth engine, which at present accounts for close to 30 per cent of the business. Within these segments, kitchen fittings is seen as a growth driver. "We plan