Panaji, March 9: Locks and Architectural Solutions, a business unit of Godrej Enterprises Group, is targeting to reach Rs 2,500 crore revenue by 2028, a senior company official said.
The company is the market leader with around 30 per cent share in India, Locks and Architectural Solutions Business Head Shyam Motwani told PTI on the sidelines of the press conference here.
“We are targeting…to reach Rs 2,500 crore by the year 2028,” he said, adding that the company continues to reinforce its position as India’s most trusted and preferred locks brand, driven by cutting-edge innovation and an expanding digital product portfolio.
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“E-commerce and quick commerce have played a pivotal role in this transformation, with the company doubling its business in the online segment,” Motwani said.
With evolving safety needs, digital locks have emerged as a key growth driver, and are now, contributing 10 per cent of the business, he noted.
“The digital lock segment has witnessed an impressive 45 per cent year-on-year growth, fuelled by increasing adoption among younger consumers who prioritise smart, connected, and design-led safety solutions. Notably, the company’s e-commerce sales have doubled, underscoring its growing dominance in online and quick commerce channels,” he said.
Motwani pointed out that consumers prioritise accessibility and convenience, making e-commerce and quick commerce integral to its growth strategy.
“Our e-commerce business has doubled year-on-year, highlighting the demand for seamless and innovative security solutions,” he said.
The announcement coincides with the fourth edition of the Godrej Value Co-Creators Club (GVCC) Awards, also known as The GeeVees.
The platform has witnessed substantial growth by attracting over 2,100 architects and 4,000 submissions.
Motwani ALSO said the company remains steadfast in its commitment to the Make in India initiative, leveraging favourable government policies, including the introduction of BIS standards in locks, to further strengthen its leadership in the home safety segment. (PTI)
