Welspun Group, India’s business conglomerate expects Rs. 30,000 crore in revenue in the next three years, a 50 per cent increase from the present Rs. 20,000 crore.
Financial Express quoted BK Goenka, Chairman, Welspun Group saying that Welspun India’s main businesses are home textiles, bed and bath, and its ‘Spaces’ brand is almost growing at 20-25 per cent per annum. On Spaces, it is targeting revenues of Rs. 1,000 crore in the next three years from domestic markets, and increasing the total number of outlets to 50,000 from the present 12,000. Flooring is another business that will take off and it intends to take a small pie of the total Rs. 40,000 crore market.
Till date, the group’s major revenue of about Rs. 20,000 crore was primarily coming from the exports market, with Welspun India contributing about Rs. 8,000 crore, Welspun Corp Rs. 6,000 crore and the rest from other businesses. For the next five years, the group intends to focus on India. The takeover of Sintex was part of that plan, which also includes home textiles (Rs. 1,000 crore in next three years), and flooring with a target of about Rs. 500 crore in the next three years.
The group is also looking to raise a Rs. 2,000 crore warehousing and logistics fund that would be used to build 25 million sq.ft. of warehousing capacity. Welspun is building warehouses all over India, and the target is to construct 25 million sq.ft. of warehousing in the next 3-4 years.
