IBEF: February 21, 2020
Godrej Interio expects to close the current fiscal with revenues of Rs 2,400 crore (US$ 343.40 million) and cross Rs 3,000 crore (US$ 429.25 million) business during the next fiscal on the back of strong growth momentum.
The company is strengthening its presence in the office future segment in the south as it has witnessed a strong double-digit growth in the segment.
Godrej Interio has launched its first Social Office center in Hyderabad, its third after Mumbai and Kolkata. It intends to add four more such Social Office centres in Bengaluru, Chennai, Pune and Chandigarh.
The presence of a large working population is one of the major reasons behind company’s plan to strengthen its presence in Hyderabad and the South. The product that are preferred by the modern workforce are those that not only give a productive, enjoyable work life, but also an opportunity to socialise with colleagues during and after work.
According to the Godrej Interio Workspace and Ergonomic Research Cell study, the concept of social office was developed by the company, which seeks to be innovative and different from the traditional office environment.
Mr Anil Mathur, Chief Operating Officer, Godrej Interio, said, “The market for Social Office is still at the nascent stage and is pegged at Rs 200 crore (US$ 28.62 million). With an expected growth rate of 12 per cent CAGR, we expect organisations to soon pick up the trend of Social Office in the years to come.”
The idea behind Social Office is not only to encourage collaboration and brainstorming but also facilitate private meeting areas and quiet spaces designed for privacy to suit the employees looking for a space to do intense and focused work.
The company has manufacturing facilities in Mumbai, Khalapur and Shirwal in Maharashtra, and Haridwar and Bhagwanpur in Uttarakhand.
The company offers both ready-to- fit and customised solutions to some of the leading corporate entities including ONGC and BPCL, focussed on the demand from corporate and business-to-business segments.
“We see huge untapped potential for social workspaces where offices tend to get very innovative in the way they are designed and furnished. Godrej Interio is keen to tap into this latent demand which is projected to grow at a rapid pace in the years to come,” Mr Mathur explained.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.