Godrej Security looking at 75 percent market share in 5 years

KOLKATA - Godrej Security Solutions (GSS), part of the $3 billion Godrej Group, is targeting a 75 percent market share in the next five years from 70 percent now, a top company official said here Monday.

We are looking at a marketshare of 75 percent in the next 5 years and a turnover of Rs.1,000 crore (2013-14) from Rs.500 crore targeted this year for the security division, Dara E. Byramjee, vice president and business head of GSS, told reporters.

A division of the Godrej & Boyce Manufacturing Company, GSS launched Defender Z+ Safes in the city.

The company offers products like burglar and fire-resistant safes, coffers, data safes, surveillance systems, tracking systems and metal detectors among others.

GSS would not like to have marketshare beyond 75 percent, which would give it monopoly as that would prevent competition in the market, he said.

The total security market in the country is around Rs.600 crore now.

GSS, which has 23 branches with 650 dealers across the country, clocked a turnover of Rs.400 crore last year.

We are expanding presence in European market, Byramjee said.

Of the total turnover, export comprises 12 percent, which the company plans to take to 15 percent this year.

It supplies strong room doors, fire resistant products and safes to the foreign countries.

GSS this year would focus more on countries like Britain, Germany, Scandinavian countries and Russia along with Africa and the US, he said.

It now exports to the Middle East, Southeast Asia, Far East Asia, East Africa, and the SAARC countries.