Godrej Locking Solutions hopes to gain 20% market share in next 5 years
Godrej Locking Solutions & Systems is expecting to gain 20% of the overall market share (including organised and unorganised market) in the next five years, said Shyam Motwani executive vice president & business head of the company.
“Currently we hold 12-13% share of the overall market and if only organised sector is considered we cover 40%+ market share,” said Motwani.
As for the GST impact on locking solutions industry, he believes that it has been a game changer and overall impact has been positive. “We even reduced the prices of locks and other products post GST implementation in July thus making it beneficial for our end-users. It has also created a level-playing field for the industry,” said Motwani.
With locking solution industry getting stabilised post GST and at the same time RERA shaping the residential real estate sector Godrej is expecting a growth of 12-15% in coming years. The company, which currently has presence in 130+ cities (including distributor), plans to be in 30-40 more tier-III and tier-IV cities in next two years.