To set up manufacturing units in Andhra, Tamil Nadu.
Godrej Interio, part of the Godrej Group and a business unit of Godrej & Boyce Mfg, has lined up Rs 100 crore capex for the current financial year. The company is also aiming at a 26 per cent growth in turnover this year over last year’s Rs 1,500 crore.
Launching the comfy meter technology for its mattress category here, Anil Mathur, chief operating officer, Godrej Interio, said, “We are expecting a 35 per cent growth in the home furnishing segment and 20 per cent in institutional segment, which includes the overall growth of 26 per cent.”
The company has earmarked an additional Rs 40-50 crore for two units in Andhra Pradesh. “We in talks with 2-3 companies in the state to operate on a 100 per cent lease basis. AP is a major market for us and contributes 12 per cent to the total turnover and 8 per cent to the mattress segment,” he said.
Godrej Interio has identified AP and Tamil Nadu to set up two manufacturing units. “As coir and rubber are easily available in southern states, we would set up two units for our southern India operations, taking the total number of manufacturing units to six,” he added.
Around Rs 25 crore from its total turnover came from export to markets in South America, UK and Gulf countries. “We have received a Rs 10 crore export order from the Kabul government,” he said.
Comfy meter is a technology to choose the ideal mattress per the body structure and is priced between Rs 2,700 and Rs 50,000. “The mattress industry in India is highly unorganised, and pegged at Rs 4,000 crore. Our aim is to convert the unorganised sector into a more organised one,” he added.
The mattress industry is expected to grow at 15 per cent. Godrej is eying a Rs 100 crore turnover from the mattress segment by 2013 from the current Rs 50 crore.
