Philips India to double revenues by 2011

New Delhi, Sept 18: Consumer durable giant Philips Electronics India Ltd today said it will double its revenue to Rs 5,000 crore by 2011.

''We will double our turnover from present Rs 2,469 crore to Rs 5,000 crore crore over the next four years,'' Company's Executive Director CEO Designate Murali Sivaraman told reporters while unveiling its growth strategy for the Indian market.

The company will meet 70 per cent of its target from organic route while the rest will come from inorganic way.

''The inorganic route will include M&A within the country, joint ventures and many others and as far as organic is concerned our areas of focus will be consumer lifestyle, health care and lighting sectors,'' Mr Sivaraman said.

Announcing its growth strategy in the country, the consumer goods biggie today said the company will concenterate on the consumer lifestyle, healthcare and lighting segements. The company also earmarked a marketing outlay Rs 10 crore for a series of five mega programmes spanning these three sectors. ''To reiterate our commitment, we will spend Rs 10 crore on these programmes by this year-end,'' Mr Sivaraman said.

The rural market with affordable and accessible products is one fork of the company's strategy, while the other being the urban area.

Recently Philips announced its 'Vision 2010' strategy to position itself as a market-driven, people-centric company that reflects the needs of its customer base, while also increasing the shareholder value.

''Vison 2010 is a natural progression in our journey towards being a company that is focused around the consumer in three core areas of health care, lighting and consumer lifestyle,'' company's CEO K Ramachandran said.

Philips Electronics India Ltd, a subsidiary of the Netherlands-based Royal Philips Electronics, sells lighting products, medical equipment, consumer electronics, domestic appliances and personal care products.

UNI