The Telegraph
Sunday , June 1 , 2014
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Godrej arm road map

De: Betting big on east

Calcutta, May 31: Godrej Interio, the furniture unit of Godrej & Boyce, is looking to clock an over 30 per cent growth in turnover from the eastern region by the end of the current fiscal.

The target is to earn Rs 550 crore through a mix of home and institutional offerings with new additions to its design portfolio.

“Last year, we had a turnover of around Rs 190 crore from the east in the home section. This year, we are aiming Rs 250 crore. From the institutional section, we earned about Rs 230 crore and hope to garner around Rs 300 crore this year,” said Sayan De, regional head (home business-east), Godrej Interio.

While nationally the plan is to maintain a steady pace of growth at over 25 per cent, the eastern region has been able to grow at 22-23 per cent for the last three years.

At present, the company has 12 outlets in Bengal, 14 in the Northeast, nine in Bihar and seven each in Jharkhand and Odisha.

Plans are in the offing to expand presence in north Bengal, Purulia and Gangtok while a roll-out in Contai (East Midnapore) is yet to firm up.

“The overall furniture market is estimated to be around Rs 50,000-70,000 crore of which the branded segment will be around 15 per cent. The designer furniture market is still small. But things are positive. It is evolving and may take 4-5 years to set in,” De said.

The company also plans to strengthen its manufacturing bases with three units in Hardwar to make foam, mattresses and sofas.

While the foam plant commenced operations last month, the sofa unit is expected to take off by the end of this year. The company has also tied up with consultants for sofa designing.