Hyderabad : Consumer electrical goods maker Havells is looking to achieve a turnover of over Rs 500 crore from the water purifier segment in the next four-five years and is targeting to be amongst top three players, a senior company official said on Tuesday.
“First we are targeting Rs 100 crore business between April 2018 and March 2019, which will be 2.5-3 per cent of the organised water purifier market.
Going forward in next four-five years we are aiming to be amongst the top three players and hit Rs 500 crore-plus turnover,” said Shashank Shrivastav, vice-president, Havells India.
The total market size of water purifiers is estimated at around Rs 5,500 crore, out of which about Rs 3,500 crore is from the organised sector, he said.
Havells has introduced six product variants in the water purifier segment priced between Rs 10,499 and Rs 23,999 and four more variants will be launched by July, according to Shrivastav.
The company is targeting to garner at least 10 per cent market share in next three to four years, he said.
“We have presence in seven states and since launch of the water purifiers in December 2017, we have sold more than 1,000 units to consumers,” he added.
The water purifiers have been designed and developed at Havells’ research and development facility and manufactured in Haridwar with an installed capacity of 0.5 million units per annum.
“With an expected growth of 15-20 per cent in this segment and aggressive plan to be a significant player, Havells’ is fully equipped and future ready to ramp up the capacity to 1 million units per annum,” he added.