Godrej Security Solutions eyes revenue growth of 25% this year

Godrej Security Solutions, part of the USD 4.1 billion Godrej Group, has set a target to increase its revenues by 25 per cent this year with launch of wifi enabled home cameras and video door phones.

The company today launched wifi enabled home cameras under 'Eve series' and 'SeeThru Pro Video Door Phones' for the market as part of its expansion plans here. "Last year, the company achieved a business revenue sales growth of 22 per cent and for this year, it is expecting to target a business revenue growth of 25 per cent" a company statement said.

The statement claimed that the company held a market share of 80 per cent in the home safe segment. As part of the expansion plans, the company plans to increase its presence in tier II cities in Tamil Nadu.

"Consumers in Chennai market usually prefer brands that they have built a trust upon. For securing the valuables, consumers look for offerings from reputed companies. People tend to rely more on mechanical safes...", Godrej Security Solutions Division, Vice-President and Global Head-Marketing, Sales and Innovation, Mehernosh Pithawalla said.

"Video door phones have seen a good uptake in the new residential projects. Generally it is during festive occasions when we witness a spike in sales that can be linked to purchase of new homes...," he said.

Stating that the demand for home security products had been on the rise due to increase in awareness, he said, the company will be focusing on improving the awareness level on the need for adoption of security solutions among consumers.

The EVE series, priced at around Rs 5,000, directly live streams the camera's feed to a smartphone while the SeeThru Pro Video Door Phones allows owners to view and attend to visitors. Godrej Security Solutions besides serving the domestic market, exports to over 45 countries including Middle East, South East Asia, East Africa, US, Europe and SAARC countries, the statement added.