Home appliances maker Eureka Forbes today said it has launched portable fire extinguishers -- Fireguard.
"We have worked along the forces of the nature -- earth, water, air, environment and now fire. All our products are based on the five elements, and this product has made our portfolio complete," Eureka Forbes' Direct Selling Chief Executive Officer and Vice-President Marketing Marzin Shroff told PTI here.
The fire extinguishers are imported from Italy and are priced at Rs 4,990 for the domestic market and Rs 7,990 for institutional use.
"It is the only fire extinguisher that is guaranteed for 21 years. Unlike other fire extinguishers that burn at 100 degrees, this fire extinguisher can withstand fire of up to 360 degrees.
"We have exclusive rights for this product in India. We are looking at South East Asia through our subsidiary companies, like in in Thailand, Philippines and Malaysia," Shroff said.
Eureka Forbes, a part of the Shapoorji Pallonji Group, expects to sell 1 lakh units of the new product within the first year.
"We have a conservative target of 1 lakh units in the first year," he said adding that the organised market for fire safety is estimated at Rs 200 crore.
The company launched Fireguard before Diwali, as risk of deaths due to fire are higher during the festival.
Shroff said the new product will contribute Rs 50 crore to the turnover in the first year and in the second year the company aims to double or triple it.