Godrej Locks Eyes 2-Fold Growth Over Next 3 Years

Godrej Locks and Architectural Fittings and Systems is aiming to achieve 2-fold growth over the next three years, as it is betting big on digital locks, a segment showing promising trends in both residential and commercial spaces, a senior company official said.

The architectural solutions and fittings segment now contributes to almost 40% of the national turnover expected to reach over Rs 1,000 crore this year, Shyam Motwani, Business Head, Godrej Locks and Architectural Fittings and Systems, told reporters in Panaji last week.

Motwani was speaking during the third edition of the Godrej Value Co-Creators Club awards, known as The GEEVEES, which celebrates creativity, innovation, and sustainability in design.

Motwani also emphasized the importance of the architect and interior design community, stating, "we want to celebrate the efforts of these value co-creators who play a crucial role in enhancing the functionality and aesthetics of our living spaces."

Anticipating rapid growth in this category, he said architectural fittings solutions will be a significant contributor to the growth owing to the evolving customers who are now looking for well thought through and aesthetically pleasing spaces rather than mere products.

He further outlined the company's focus on digital locks, a segment showing promising trends in both residential and commercial spaces. Digital locks, a notable segment within the locks market, are gaining traction, especially in urban areas.

Godrej Locks is strategically investing in digital solutions, in alignment to its strategy of Multi-Generational Product Planning in both residential and industrial verticals.