Saint-Gobain India, on Thursday said it will invest more than Rs 2,500 crore in India in the home and construction business in the next two years.
The company while launching its range of home solutions under the MyHome brand on Thursday said it is eyeing up to Rs 1,000 crore revenue from housing solutions business in the next 3 to 5 years.
The company is opening over 50 MyHome stores by the end of 2021 in the country in tier I, tier-II and tier-III cities.
Hemant Khurana, executive director, Saint-Gobain India, said: ‘We are heavily investing in building our consumer touchpoints and opening MyHome stores. We have already opened stores in Kochi, Mumbai and Chennai. Saint-Gobain will be investing more than Rs 2,500 crore in India between FY22-23 in the home and construction space.’
Saint-Gobain, a leading producer of glass and building material, designs, manufactures and distributes high-performance materials and solutions, which are used in residential, commercial and industrial applications.
As part of the MyHome launch, Saint-Gobain unveiled its UPvC windows collection, followed by the shower cubicles. The products are manufactured at Saint-Gobain’s highly automated and digitalised manufacturing plant developed with an investment of more than Rs 100 crore. MyHome range is end-to-end solutions for homes from design ideas to customised manufacturing to installation and after-sales service.
The home segment offers a significant opportunity for Saint-Gobain in India. With a market size of more than $ 25 billion and growing at a CAGR of 8-10%, the segment is poised to grow even faster given the massive urbanisation that is yet to happen, he added.
Srihari K, business head, Saint-Gobain India, said: ‘Our focus is to deliver wellbeing to the end consumers and this launch is an important milestone in our journey. We have developed several innovative solutions and a novel go-to-market. Customers can get a first-hand experience of the windows and other MyHome solutions like shower cubicles, shutters for wardrobes and kitchen cabinets and LeD Mirrors at the MyHome brand stores.’