Global lighting controls major Lutron is likely to enter the residential apartments space in India, as the realty sector slowly picks up pace subsequent to the slowdown. The firm, which has been present in the country for over a decade, has been primarily focused on the hospitality sector and high-end residential projects.
“This is a very nascent market, and we have not touched residential apartments yet. But looking ahead, this would be the volume business. We are in talks with a few real estate companies,” Lutron country manager – India Manjul Trehan said. However, Lutron will concentrate on projects where the spend on lighting per apartment is upwards of Rs 1 lakh, he added.
In the east, the company is in talks with 2-3 players, but the region will only contribute minimally to its overall earnings. “We hope to get double-digit numbers from the East in the next few years,” Trehan said.
Overall, though, this year and the next is expected to be challenging for Lutron, even though it was not badly buffeted by the slowdown.