The real estate boom is leading the growth of several allied industries, including the sanitaryware segment, which is growing by over 20 per cent annually.
“The construction activity in the country has picked pace and the potential is huge, since India is short of housing units,” sanitaryware and bathroom fittings major Jaquar & Co Director (marketing) Rajesh Mehra told Business Standard here.
He said the real estate growth was evenly distributed among metros and smaller towns.
The enterprise segment is growing faster than the retail market with the large number of housing and township projects underway and in the planning stages.
“Currently, mega projects comprise 30 per cent of our turnover and it will continue to grow rapidly. Our growth rate has been more than the market at 30 per cent,” he informed.
He said Jaquar had overwhelming market share in the housing projects of the Uttar Pradesh government agencies.
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Meanwhile, the company is looking at 40 per cent increase in its turnover in the current financial year to Rs 1,400 crore.
Jaquar is also keen to increase its export market portfolio. At present, the export market accounts for less than five per cent of its turnover. “We are planning to increase our export market pie multiple times in the current fiscal,” he added. It exports to 15 countries in Africa, West Asia and South East Asia.
Jaquar is the domestic market leader in bath fittings category in India. It has about 1,800 dealers across the country, including 90 odd in UP. The company has three manufacturing units.