Saint Gobain has plans which will see its top line triple in 10 years to Rs 30,000 crore one the back of demand spike for light construction materials that reduces carbon footprint.
Saint Gobain’s plaster boards, construction chemicals that are used as additives in ready mix concrete, fasad, insulators and ceilings are witnessing strong demand from the construction sector.
“With 46% of the population in top 7 cities spending more than Rs 90 lakh on their homes, the need is to offer solutions rather than sell products,” B Santhanam, CEO of Saint Gobain, Asia-Pacific said.
Saint Gobain operates in two broad businesses, viz., construction materials and second abrasives, ceramics, refractories. While globally the construction materials contribute to 85% of revenues and the remaining from the other business.
“In India 70% comes from construction materials. This is growing at a fast pace,” he added. Towards achieving the target, the French major’s Indian arm is getting aggressive on the B2C segment. It acquired a strategic stake in LivSpace, a home interior and renovation company, which will push its products to customers.
“There are many acquisitions that we are working on. The focus is clear,” he added.
As part of its sustainable initiatives in the materials space, Saint Gobain has signed up with two companies, one each in Delhi and Chennai.
“Our focus is to build products that are fully recyclable. We will never launch anything which cannot be fully recycled. We want to create a circular economy and towards this we are looking for companies and agencies who will help in recycling construction debris. He said it was a taboo to think that ecologically sensitive construction materials were expensive. “It isn’t, the cost equation remains the same. And shaping the ecosystem will be at the heart of what we do,” he added.