Security solutions: Godrej aims for 50 percent revenue surge

26 Nov 2024 CW Team

The company’s exports currently contribute around 10 percent of the division’s revenue with significant potential for growth. By FY27, exports are projected to account for 14-15 percent of the business revenue with the Americas and Europe expected to be the primary growth drivers. Despite recent geopolitical challenges in the Middle East affecting freight costs and transit times, the company remains steadfast in its commitment to serving global markets with cutting-edge security solutions.

Speaking on the company’s growth roadmap, Pushkar Gokhale, Executive Vice-President and Business Head of the Security Solutions Business at Godrej & Boyce, stated, “The global demand for advanced security solutions, particularly in the Americas and Europe, presents a tremendous opportunity for us. These regions account for 60 percent of the global market and we are strategically positioning ourselves to capture this demand with innovative and compliant products tailored to international standards.”

In addition to its export strategy, the company continues to innovate across its diverse portfolio of security solutions which includes fire-resistant safes, vaults, access control systems and advanced alarm technologies. Its products have become synonymous with trust and reliability, serving an extensive client base that includes banks, corporations, defence sectors and prestigious government institutions.

Domestically, the business is poised to capitalise on regulatory developments such as the recent Bureau of Indian Standards (BIS) mandate for safes and vaults. This policy shift is expected to favour the brand, which already controls 80 percent of the organised B2C market and 58 percent of the B2B segment in India. Such regulations are set to accelerate the transition from unorganised to organised players, enhancing market share for companies that prioritise quality and compliance.

Further emphasising, Gokhale said, “Security is no longer just about safeguarding physical assets. It is about ensuring peace of mind and trust whether at home, work, or in public spaces. With our unwavering commitment to innovation and excellence, we aim to redefine global security standards and establish India as a hub for world-class security solutions.”

As a pioneer and market leader, Godrej Enterprises Group continues to shape the security landscape in the country with modern innovation to address the evolving security needs of businesses and individuals worldwide. Godrej has been instrumental in bagging some key milestone projects like Central Vista Redevelopment project, Satish Dhawan Space Centre SHAR (SDSC-SHAR), the Spaceport of India and more. These initiatives have not only enhanced security measures but have also strengthened the overall institutional framework in the country, underscoring Godrej's commitment to safeguarding vital national assets.

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The Security Solutions business of Godrej & Boyce, part of Godrej Enterprises Group, has set an ambitious goal of achieving a 50 percent growth in revenue by FY27, targeting a top-line of Rs 15 billion. This marks a significant leap from the Rs 10 billion revenue recorded in FY24, driven by a sharpened focus on expanding exports to the Americas and Europe, alongside leveraging domestic regulatory changes.The company’s exports currently contribute around 10 percent of the division’s revenue with significant potential for growth. By FY27, exports are projected to account for 14-15 percent of the business revenue with the Americas and Europe expected to be the primary growth drivers. Despite recent geopolitical challenges in the Middle East affecting freight costs and transit times, the company remains steadfast in its commitment to serving global markets with cutting-edge security solutions.Speaking on the company’s growth roadmap, Pushkar Gokhale, Executive Vice-President and Business Head of the Security Solutions Business at Godrej & Boyce, stated, “The global demand for advanced security solutions, particularly in the Americas and Europe, presents a tremendous opportunity for us. These regions account for 60 percent of the global market and we are strategically positioning ourselves to capture this demand with innovative and compliant products tailored to international standards.”In addition to its export strategy, the company continues to innovate across its diverse portfolio of security solutions which includes fire-resistant safes, vaults, access control systems and advanced alarm technologies. Its products have become synonymous with trust and reliability, serving an extensive client base that includes banks, corporations, defence sectors and prestigious government institutions.Domestically, the business is poised to capitalise on regulatory developments such as the recent Bureau of Indian Standards (BIS) mandate for safes and vaults. This policy shift is expected to favour the brand, which already controls 80 percent of the organised B2C market and 58 percent of the B2B segment in India. Such regulations are set to accelerate the transition from unorganised to organised players, enhancing market share for companies that prioritise quality and compliance.Further emphasising, Gokhale said, “Security is no longer just about safeguarding physical assets. It is about ensuring peace of mind and trust whether at home, work, or in public spaces. With our unwavering commitment to innovation and excellence, we aim to redefine global security standards and establish India as a hub for world-class security solutions.” As a pioneer and market leader, Godrej Enterprises Group continues to shape the security landscape in the country with modern innovation to address the evolving security needs of businesses and individuals worldwide. Godrej has been instrumental in bagging some key milestone projects like Central Vista Redevelopment project, Satish Dhawan Space Centre SHAR (SDSC-SHAR), the Spaceport of India and more. These initiatives have not only enhanced security measures but have also strengthened the overall institutional framework in the country, underscoring Godrej's commitment to safeguarding vital national assets.

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