You are here: Home » PTI Stories » National » News
Business Standard

Godrej security solutions targets home segment

Business Finance

Press Trust of India  |  Kolkata 

The security solutions division of Godrej & Boyce is targetting the home segment to increase the vertical's turnover in the next three years, a top official said today.

The turnover of the security solutions division of the company was the third largest which was Rs 750 crore at the moment, Mehernosh Pithawalla, VP and global head (marketing, sales and innovation) of the security solutions division said.

Pithawalla said the banking security business was not growing as the expansion of bank branches was not there now like before.

The company provides lockers, strong rooms and safes meant for providing security at the bank branches.

"Owing to this, we are targetting the home security segment, particularly the residential complexes across the country," he said.

He said that in India, the home security market was at a nascent stage at the moment.

"The total size of the market in the home security segment is around Rs 155 crore now," he said.

In the next three years, the company is targetting to double the revenue from this segment, presently at Rs 280 crore.

The company today announced the launch of 'Eve' brand of WiFi-enabled home security systems and video door phones.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, January 10 2018. 16:50 IST