Godrej Security Equipment to treble turnover to Rs 1,000 cr by 2012

New Delhi, Sept 27 (UNI) Godrej&Boyce Mfg Co's Security Equipment Division (SED) today said it is aiming to treble its turnover to Rs 1,000 crore, up from Rs 300 crore at present, over the next five years.

''We are expecting to touch a turnover of Rs 1,000 crore by 2012, which will be possible from inorganic growth alone,'' company's Vice-President and Business Head Dara Byramjee told reporters here.

The company, which presently exports its products to over 35 countries, is also targeting exports of Rs 40 crore from Rs 25 crore in FY 2007-08, Mr Byramjee added.

The company exports its products to various countries across the globe including, East Asia, the US, Europe and Australia, with Africa being its major consumer.

The company plans to increase its exports to US and Europe markets in the next five years, company's Senior General Manager (Sales and Marketing) Neville S Bachana said.

The company is also eyeing to double its market share from 68 per cent in the physical security sector over the next three years, Mr Bachana said.

The total market of the security products and solutions in the country is pegged at Rs 1,800 crore, he said, adding that Rs 300 to Rs 400 crore accounts for physical security, while electronic security accounts for Rs 400 to Rs 500 crore.

Some of the divisions in the Godrej Security Equipment division include: Premises security, Electronic security and physical security.

Mr Bachana also said the company is in talks with GVK to provide security systems to Mumbai Airport International Airport Pvt Ltd (MIAL).

Godrej commanded a 75 per cent share of the conventional and physical security products market in India.

The Godrej security equipment is the leading supplier of security equipment to the banking industry, corporate and public 1institutions. Its customers includes the Reserve Bank of India (RBI), State Bank of India (SBI) and many multinational companies.

UNI