France-based sustainable construction giant Saint-Gobain is projecting a threefold increase in its Indian business over the next decade. Speaking in Chennai, senior executives revealed that Saint-Gobain India expects to close the fiscal year with Rs 142 billion in revenue, with a target of Rs 500 billion by 2035, assuming India sustains an annual growth rate of 7%.

B Santhanam, CEO of Asia Pacific and India at Saint-Gobain, highlighted that the company has achieved nearly 90% growth over the past five years. Saint-Gobain operates in India through three entities: Saint-Gobain India (unlisted), Grindwell Norton, and Saint-Gobain Sekurit India (both listed).

"Growth opportunities are present across all verticals," said Santhanam, emphasising the company's comprehensive solutions portfolio for residential, commercial, and infrastructure projects. Key business segments include glass manufacturing (50%), gypsum and construction chemicals (25%), abrasives and ceramics (20%), and other niche areas (5%). Over 90% of Saint-Gobain's products in India are manufactured locally.

The company’s strategic shift in 2018 to organise operations by country rather than business lines has driven significant growth. "This model has propelled Saint-Gobain to approximately $50 billion in global sales," said CEO Benoit Bazin. The company has also diversified its leadership, with 90% of its country CEOs being local nationals.

Global acquisitions have shifted Saint-Gobain's profit distribution, with two-thirds now coming from North America, Asia, and emerging markets, compared to its earlier dependence on Western Europe. To meet growing demand, the company continues to emphasise local manufacturing, operating 900 production facilities worldwide.

Saint-Gobain’s expansion in India aligns with its strategy to capture growth in fast-developing markets, including the US, Canada, the Middle East, and Australia.

(ET)