Kitchen appliances maker TTK Prestige, which has witnessed sluggish growth so far this fiscal, is banking on revival in rural demand to push sales in the remainder of 2019-20.
In the 2018-19 fiscal, the company's revenue grew by 12 per cent on the back of robust demand from the rural belts, TTK Prestige Managing Director Chandru Kalro said.
"This year, lack of rural demand has restricted our growth so far to 6 per cent. But, we are seeing some reversal in trend in this regard, and hope to end the year with a 10 per cent growth," he said.
Kalro said he expects rural demand to pick up in the next two-three quarters.
The company is also betting big on a range of innovative products in the pressure cooker business, including "a no-mess cooker that prevents overflow while cooking," he said.
The vertical currently contributes 27-30 per cent to the company's topline.
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TTK Prestige is aiming at a turnover of Rs 2,100-2,200 crore in this fiscal, the top company official said.
Exports account for about 4 per cent of the company's revenue, and might get a boost in 2020-21 as it enters newer markets, Kalro said.
In terms of new categories, TTK Prestige has "successfully" forayed into kitchen appliances, cookware and cleaning solutions, he said.
The company has not effected any revision in prices in the last two years, he added.