Godrej Locks targets 2-fold expansion in the next three years

Godrej eyes 2-fold growth: Godrej Locks and Architectural Fittings and Systems (GLAFS) is gearing up for an ambitious growth journey, to double its size over the next three years. The company's focus on digital locks, a segment witnessing robust trends in both residential and commercial sectors, is expected to be a key driver of this growth, according to a senior company official.

Shyam Motwani, Business Head of Godrej Locks and Architectural Fittings and Systems, revealed that the architectural solutions and fittings segment currently accounts for nearly 40 per cent of the national turnover, projected to surpass Rs 1,000 crore this year. Speaking at the Godrej Value Co-Creators Club (GVCC) awards, Motwani emphasised the pivotal role played by architects and interior designers. He expressed a desire to acknowledge and celebrate their contributions, noting their influence in enhancing both functionality and aesthetics in living spaces.

Motwani highlighted the evolving preferences of customers, noting a shift towards a demand for well-thought-out and aesthetically pleasing spaces over mere products. As a result, he anticipates that architectural fittings solutions will significantly contribute to the company's growth.

The company's strategic focus on digital locks aligns with its Multi-Generational Product Planning (MGPP) strategy in both residential and industrial verticals. Digital locks, gaining traction, particularly in urban areas, are viewed as a promising segment within the locks market. Godrej Locks is making targeted investments in digital solutions to tap into the growing demand in this space. The company's growth strategy appears to be intricately woven with the evolving needs and preferences of contemporary consumers.

With PTI inputs