Siyaram's home textile arm to garner Rs 200 cr

The home textile division of Siyaram Silk Mills, the flagship company of the Siyaram Poddar group, is set to garner revenues of Rs 200 crore in three years, said Arvind Poddar, joint managing director. After announcing its home textile foray in late 2004, the company finally entered the niche market this year.

Its facility for home textile products, for which Siyaram is investing Rs 35 crore, will be fully operational by the end of the year, Poddar added. Of the 50 looms, 20 have been put in place.

For the rest 30 looms, the company is setting up a new facility at Tarapur, where it has bought three-acre land. "We are looking to buy another eight acres," Poddar said.

Siyaram's home textile operations will have a capacity of 1.5 million metres of home furnishings and 1.2 million metres of bedding a year. The facility will churn out about two lakh bed linen sets a month.

The Rs 300-crore company's home textile portfolio will include upholstery, curtain, bed linen and other top-of-bed products.

It will market upholstery in the domestic market, while targeting the export markets with the rest of the products.

"We will enter the markets in the US, Europe and the west Asia. About 60 per cent of our turnover will be sourced from the international market," said Poddar. Siyaram will market its products under its division, Vishal Furnishing.

The group has well-known garment brands under its umbrella such as Siyaram's, J Hampstead and Oxemberg.