Latest News | Godrej Locks Aims Rs 2,500 Crore Revenue by FY27
Get latest articles and stories on Latest News at LatestLY. Godrej Locks & Architectural Fittings and Systems (GLAFS) on Tuesday said it aims to have a Rs 2,500 crore revenue by FY27, growing almost two-fold in the next five years.
New Delhi, Aug 23 (PTI) Godrej Locks & Architectural Fittings and Systems (GLAFS) on Tuesday said it aims to have a Rs 2,500 crore revenue by FY27, growing almost two-fold in the next five years.
The Godrej & Boyce group firm expects a significant increase in demand for digital locks would drive the growth for the company, said a statement.
The company "plans to grow twice as large in five years, to Rs 2,500 crore by FY27," it said.
GLAFS's current business revenue is Rs 900 crore and is projecting a revenue of Rs 1,000 crore for the current fiscal, it added.
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"The company aims to be among the top three brands in the architectural fittings and systems industry in the next three years. The architectural fittings category is a Rs 10,000 to Rs 12,000 crore market," it said.
GLAFS is now concentrating on broadening its offering in the architectural fittings sector, and aims to cross Rs 400 crore in FY23.
Commenting on the growth plan GLAFS Business Head Shyam Motwani said: "We plan to cross Rs 400 crore in the Architectural Fittings and Systems business, and overall revenue of Rs 1,000 crore in FY23, translating into a growth of over two times within the next 5 years."
Godrej Locks currently exports to 24 countries across Asia, Africa, USA, and the Middle East and expects its share from the overseas market to increase.
It is also planning to enter the architectural hardware and kitchen systems segment in these markets.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)