Godrej to enhance presence in South

Bangalore, July 28 (UNI) Godrej and Boyce Manufacturing Company Limited is proposing to enhance its presence in South by signing up an exclusive arrangement to have its own manufacturing activities, Furniture and Interiors Group Chief Operating Officer Anil S Mathur said today.

Speaking to newspersons here, he said the company was looking for either an ancilliary or a plant to manufacture furniture exclusively in the South by investing around Rs 20 crore.

He said the company had recently introduced three new products in modular segment 'Enova,' 'Fusion,' and 'Doric' in southern market.

Stating that South had always been a stronghold for the company, he said it had contributed over 30 per cent of business and the company was also planning to enhance its distribution strength.

Bangalore itself contributed over 70 per cent of the market of modular furniture products in the South, he added.

To a question, he said the company, with a market share of over 15 per cent, was the leader both in office and home segment. It had planned to capture 20 per cent market share in home segment.

The furniture market was of the size Rs 3500 crore and distinctly divided between organised and the unorganised. The current turnover of the company was around Rs 650 crore and was expected to cross Rs 850 crore by the end of current fiscal, he added.

He said the company had planned to grow at the range of 30 per cent to 35 per cent in the furniture industry as against the present 28 per cent to ensure a turnover of Rs 2000 crore in next two or three years.

To a question, he said the company also manufactured marine furniture and cabins to shipyards across the country. It had tied up with an Australian company for creating seating facility in stadia. Another tie up was also in the offing with a Korean set up with regard to creaing naval shipyard facility, he revealed.

He announced that a uniform brand for both home and professional work places would be launched on August 16 across the ountry.

UNI SR RG GM1710