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Our Bureau

To invest Rs 500 cr to consolidate presence

Chennai , Sept. 12

Godrej & Boyce Mfg Co Ltd unveiled Godrej Interio, the umbrella brand for all Godrej furniture and interiors, and also announced an investment of Rs 500 crore to consolidate its presence in the furniture space.

Mr Anil Mathur, COO, Godrej Interio, said that the company plans to increase its thrust on its home and office solutions range.

It also plans to enter niche segments such as furniture for stadium, health and hospitality and corporate showrooms.

Exports

He said that the company has earmarked between Rs 200 crore and Rs 250 crore to acquire two companies, one in the UK and the other in the US.

These companies would consolidate Godrej's position in the global market, he said.

Currently, the company exports 15 per cent of its turnover.

Godrej has also tied up with design houses in Italy and France as well as Indian ones.

Godrej Interio is targeting a turnover of Rs 800 crore for 2006-07 as against a turnover of Rs 600 crore for 2005-06.

The division plans to achieve a sales turnover of Rs 1,500 crore by 2010.

The southern region contributes about 28 per cent to the turnover.

Another unit

Godrej is planning to set up another manufacturing unit in Chennai to cater to southern markets. Mr Mathur said that the company would be making an investment of about Rs 20 crore for the expansion in Chennai.

Godrej has two factories in Chennai, he said.

Mr Mathur said that Godrej has made investment up to Rs 100 crore in technology and brand building and is expecting a growth of 33 per cent growth in turnover in the coming year.

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