Saint-Gobain India plans Rs 2,500 crore investment in home and construction sector

The company will open more than 50 MyHome stores by the end of 2021 across the country in Tier I, II and III cities.

Saint-Gobain India, which is part of the Saint-Gobain group in the world, announced Thursday that it will invest more than 2,500 crore rupees in India in the home and construction sector over the next two years. The company, when launching its line of home solutions under the MyHome brand on Thursday, said it envisions up to 1,000 crore in revenue from the housing solutions business over the next 3-5. years.

The company will open more than 50 MyHome stores by the end of 2021 across the country in Tier I, II and III cities.

Hemant Khurana, Executive Director of Saint-Gobain India, said: “We are investing heavily in building our points of contact with consumers and opening MyHome stores. We have already opened stores in Kochi, Mumbai and Chennai. Saint-Gobain will invest more than 2,500 crore rupees in India between fiscal years 22 and 23 in the home and construction space.

Saint-Gobain, a leading producer of glass and building materials, designs, manufactures and distributes high performance materials and solutions, which are used in residential, commercial and industrial applications.

As part of the launch of MyHome, Saint-Gobain unveiled its collection of UPvC windows, followed by shower enclosures. The products are manufactured in Saint-Gobain’s highly automated and digitized manufacturing plant, developed with an investment of over Rs 100 crore. The MyHome range includes end-to-end solutions for homes, from design ideas to custom fabrication, installation and after-sales service.

The residential segment offers a significant opportunity for Saint-Gobain in India. With a market size of over $ 25 billion and growing at a CAGR of 8-10%, the segment is poised to grow even faster given the massive urbanization that has yet to take place. , he added.

Srihari K, Business Manager, Saint-Gobain India, said: “Our goal is to provide well-being to end consumers and this launch is an important step in our journey. We have developed several innovative solutions and a new marketing. Customers can have first-hand experience with windows and other MyHome solutions like shower stalls, shutters for cabinetry and kitchen cabinets, and LeD mirrors at MyHome brand stores.

Get live stock quotes for BSE, NSE, US market and latest net asset value, mutual fund portfolio, see the latest IPO news, top IPOs, calculate your tax Using the income tax calculator, know the best winners, the best losers and the best equity funds in the market. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay up to date with the latest news and updates from Biz.



Source link