Ahmedabad-based ceramic tiles maker Asian Granito today launched high-end double charge tiles and set a Rs 250 crore revenue target from the new offerings over the next three years.
The company also plans to double the production capacity of its new product to 14,000 sq meters per day from 7,000 per sq meters over the next in the next 2-3 years, a company release said.
"The double charge tiles range is our latest offering to the market. These tiles are more durable, aesthetically advanced, have uniformity in the design and also give the natural granite or marble feeling," Asian Granito India Ltd (AGIL) chairman and managing director Kamlesh Patel said.
Earlier these tiles were being imported, mostly from China, but looking at the huge opportunity in domestic market, the company decided to go in for local production, he added.
On the revenue front, Patel said, AGIL is confident of achieving revenue of over Rs 250 crore from the double charged tiles sales by FY'18 with Rs 100 crore sales expected to come in the first year of launch itself.
The company, through its eight manufacturing facilities spread across Gujarat, produces 1-lakh sq m of tiles per day, ranging from digital tiles, micro crystal tiles, hi-tech Guard and glazed vitrified tiles, etc. Besides, a major segment player in the domestic market, AGIL also exports its range of products to nearly 42 countries.
Asian Granito, which posted a turnover of Rs 796 crore, is aiming Rs 1,500 crore topline in the next three years by way of overseas expansion plans, Patel said.
