Godrej Interio, the furniture arm of the Godrej Group, is aiming at a 25-per cent topline growth to Rs 2,500 crore in the 2018-19 fiscal, a senior company official said today.
"We are are looking at strong numbers in the current fiscal with our growth plans and a favourable GST rate of 18 per cent. We are aiming at Rs 2,500 crore revenue in FY19' as against Rs 2,000 crore in the last fiscal," Godrej Interio COO Anil Mathur said here.
Kolkata is a key market for Godrej Interio as the eastern region contributes at least Rs 200 crore to the home B2C business or home furniture and solutions, he said on the sidelines of a store launch in the city.
In the pre-GST regime, the tax burden was to the tune of 26-27 per cent but now it is 18 per cent, giving a fillip to consumers to move towards branded home furniture.
Godrej Interio's B2B segment is likely to garner Rs 1,500 crore revenue this fiscal, while home solutions should clock sales of Rs 1,000 crore, Mathur said.
The company would invest Rs 400 crore over the next three years, of which Rs 100 crore would be pumped in for frontline store expansion during FY19'.
"We are investing Rs 300 crore in a new manufacturing facility in Khalapur, Maharashtra in the next three years. An additional Rs 100 crore would be utilised on 35 new stores across the country," he said.
The home furniture market is estimated at Rs 50,000 crore, of which the organised sector accounts for 20 per cent, he added.
Disclaimer: No Business Standard Journalist was involved in creation of this content
