The Hindu Business Line : V3 Engineers launches Homezone range in AP

Hyderabad, March 12 Bangalore-based modular furniture provider, V3 Engineers Pvt Ltd, has forayed into Andhra Pradesh market by launching its Homezone range of modular furniture for kitchens, doors and wardrobes.

“`Till recently we have been in modular office furniture segment and achieved a turnover of Rs 50 crore during last fiscal year. Our Homezone range is recently-launched and we see Andhra Pradesh as an important market,” Mr Guru Prasad, Director, V3 told newspersons here on Wednesday.

An exclusive design and display studio would be opened in Jubilee Hills here in a couple of weeks, he said.

The growth of residential housing segment was very rapid in the State and the company was hoping to capture a significant market share, Mr Prasad said, adding: ``We are aiming to generate a turnover of Rs 35 core in AP alone over next three years.”

Within next six months, three branded franchisee outlets would be opened in Visakhapatnam, Vijayawada and Hyderabad. ``There sill be 30 Homezone outlets across South India by the end of next fiscal,” he added.

The company has a furniture manufacturing facility at Nelamangala near Bangalore.

The furniture market in India is estimated at Rs 35,000 crore with 20 per cent growth per annum. “About 60 per cent of this is residential segment and there is more scope for growth,” the company official said.

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