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.
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