Calcutta, Sept. 1: Bajaj Electricals is aiming to clock about Rs 1,500 crore, or a 36.36 per cent growth, in its lighting business for the fiscal ended March 2017.

"In the last fiscal, the contribution of the lighting business to the company's revenue stood at Rs 1,100 crore," R. Sundararajan, executive president and country head-luminaries segment of Bajaj Electricals, said on the sidelines of a press meet in the city today.

"The lighting division expects strong growth momentum with its products covering not just commercial and residential lighting but also streets. Bengal is a high potential market for us and we will expand our network here and introduce new products. We are also participating in smart city projects and are in talks with ten states," said Sundararajan.

Light-emitting diodes (LED) form a major chunk of the lighting division now with the Centre and the states encouraging the use of LED products.

The national market for organised lighting is Rs 9,000 crore, of which LEDs comprise nearly 10 per cent.

"For Bajaj Electricals, LEDs contributed nearly Rs 450 crore in the last fiscal and we are expecting a huge growth in this segment in the coming years," he added.

The company's revenue from the eastern region is around Rs 50 crore.

At present, Bajaj Electricals imports LED products from countries such as US, Japan and Taiwan.

It plans to have its own assembling unit in Pune by the end of the current fiscal.

" We already have land to set up the assembling unit and will be operational by this fiscal," said Sundararajan.