Square Foot unveils expansion plan

Mumbai-based Square Foot, which is into wooden flooring business, is set to expand its base across the country. It has earmarked a sum of Rs 12 crore to increase the number of its display centres.

"We will add up to 20 display centres in the next 2-3 years. This number will be taken to 37 later," said Abhishek Saraf, director, Square Foot. At present, it has centres in Mumbai, Delhi and Bangalore. The other locations where the company is concentrating include Pune, Kolkata, Chandigarh, Ludhiana, Chennai and Hyderabad.

"First, we aim to focus on the A-class cities," he added. Square Foot has around 75 retailers across the country.

"Customers prefer to see and feel the products. So display centres would help them envision their home interiors with wooden floors. Display centres will also help us establish a direct link to a wider range of consumers," Saraf added.

The market size of wooden flooring market in India is estimated to be around Rs 200 crore with major chunk being in the unorganised sector. The southern region tops the list in demand for wooden flooring followed by the north and the west.

Square Foot achieved an annual turnover of Rs 25 crore last financial year. It expects it to touch Rs 40-42 crore by the end of the current financial year. "With boom in construction, rise in awareness about the products, we are hopeful of touching the level this year," said Saraf, adding "it will be the fastest increase in the sales so far".

The company has been working with Tarkett, a French flooring manufacturer, for more than a decade. Recently, the company's officials were in India for strengthening the business. The French firm supplies flooring materials to Square Foot.

Wooden flooring comprises of two parts: Real wood and artificial wood (laminated). However, as wood is an expensive raw material, the artificial wood makes up 70 per cent of the total market size.

Industry experts say the market size will double in a couple of years considering the pace at which artificial wooden flooring market is increasing.

The price of the real wood flooring ranges between Rs 250-1000 per square foot whereas those of artificial ones cost Rs 75-180 per square foot. Interestingly, one-third of the demand comes from the corporate world in India.