Parryware Roca plans Rs 750cr growth spend

Parryware Roca, a joint venture of Murugappa Group and global leader in sanitary ware Roca, today said it plans to invest about euro 130 million (Rs 750 crore) in 2 years for acquisitions and expansion in India.

"Every year we will invest about euro 12-15 million for both marketing activities and scaling up manufacturing," A Vellayan, chairman, Parryware Roca said here.

He said considering the history of the parent companies of the joint venture, acquisitions in the Indian market were very much on the agenda.

"For the next 2 years, our acquisition budget for the Indian market is about euro 100 million. We are on the look out for brands here," Domingo Colomo Prados, senior managing director of executive board, Roca Corporacion Empresarial, said.

The JV is looking out for both regional and national brands, which can add value to its portfolio, he added.

Parryware Roca launched its first range of products in the premium segment of the bathroom and sanitary ware solutions priced from Rs 1.5 lakh onwards.

The company is eyeing 10% market share of the Rs 100 crore organised top-end segment in the next two years.

Vellayan said the 50:50 joint venture expects to have 20 showrooms for Roca products in India this year, which will be scaled up to 30 next year.

"In the next one year we expect to start manufacturing Roca products in India from our facilities in Alwar and Perundurai, which are currently being upgraded with technology from Roca," he said.