One of the world’s biggest home textiles companies, Welspun, is bullish on its flooring venture to register a turnover of Rs.1,000 crore in the next 3-4 years on the back of its new modular solutions.
Welspun Flooring is looking to tap the potential of the renovation segment of the Rs.35,000 crore overall Indian tiles market.
“Our target is to achieve a turnover of Rs.1,000 crore in the next three to four years. We will have presence in 30 cities, from metros up to tier-III, by March 2019. Currently we are in the process of appointing distributors.” – Mukesh Savlani, CEO, Welspun Flooring
Welspun Flooring will offer stone polymer composite luxury performance tiles, carpet tiles, wall to wall carpets and artificial grass. It will start exports to the US, Europe, Australia and southeast Asian countries from the middle of next year.
“The overall Indian tiles market is around Rs.35,000 crore per annum, of which 90 percent is for new construction and 10 percent is renovation. Our belief is that the renovation segment will grow significantly. What we are trying to do is change it with the concept of modular flooring. With our solutions, we can do flooring in 5-8 hours or just one hour in cases of small offices.” – Mukesh Savlani, CEO, Welspun Flooring
The firm is working on setting up its Rs.1,150 crore manufacturing facility spread over 600 acre in Hyderabad, where it will produce items for residential, hospitality and commercial applications.
