You are here: Home » Companies » News
Business Standard

Hager looks for local partners; eyes Rs 300 cr revenue

Press Trust Of India  |  Mumbai 

French electrical equipment maker Hager is looking at local collaboration to strengthen its presence and meet its revenue target of over Rs 300 crore by 2015 in India.

"India is a key market for Hager after Germany and France, and we see huge potential here with the growth in the real estate sector and increasing emphasis on energy efficiency and safety issues," Hager Chief Executive Officer Daniel Hager said.

"We want to bring more localised content into this market and we may look at collaborations for the same," he added.

The company has set a target of achieving over Rs 300 crore turnover by 2015, Hager said.

"We wish to grow at around 30-40 per cent year-on-year. We are planning our strategy in a way to not only cater to the metros, but also expand our footprint in smaller cities," he said. In 2012, Hager exited from a 16-year distribution pact with Larsen & Toubro to grow its business on its own in the country.

At present, the company has around 250 channel partners and has also set up 10 service centres.

"We will continue to expand our presence to strengthen our foothold and to compete with the already established global brands. We will also try to get in local expertise as well as technology to cater to the growing demand," Hager said, adding "we have also revamped our premium products."

The company is looking at expanding its manufacturing facility in Pune.

"We want to grow in a big way here and accordingly we will be increasing our manufacturing capacity. It could be done by either expanding the facility or via acquisition or collaboration. We are looking at opportunities, but nothing concrete is on board as yet," Hager said.

First Published: Sun, January 12 2014. 20:56 IST
RECOMMENDED FOR YOU