Titan aims Rs 3,150 cr turnover in FY08

New Delhi, Sept 27 (UNI) Country's leading watch-maker Titan Industries Ltd today said it is eyeing a 50 per cent jump in its turnover at Rs 3,150 crore in the current financial year, against Rs 2,136 crore last fiscal.

''We aim to achieve a 50 per cent hike in our turnover at Rs 3,150 crore during 2007-08,'' company's Managing Director Bhaskar Bhat told reporters here on the sidelines of its heritage collection launch here.

At present, country's total watch market (organised as well as unorganised) stands at Rs 2,500 crore, Rs 1,400 crore of which is the organised market share.

Mr Bhat said the company would have Rs 1,000 crore market in the organised sector by end of this fiscal, thereby achieving more than 70 per cent market share.

Titan, currently having 1,200 watches on display, has market access to 31 countries.

About 30 million watches are sold every year in the country, including the unorganised one, out of which the company is selling about 10 million watches.

Last year, Titan sold eight million watches.

UNI