Godrej Locks Aims for Rs 2,500 Crore Revenue by 2028

Godrej Locks and Architectural Solutions targets Rs 2,500 crore revenue by 2028. The market leader with a 30% share in India continues expanding its digital portfolio. Digital locks now constitute 10% of the business, with e-commerce channels doubling their sales, reflecting a growing online dominance.

Godrej Locks and Architectural Solutions, part of the Godrej Enterprises Group, has set an ambitious target to achieve Rs 2,500 crore in revenue by 2028. This announcement was made by Shyam Motwani, the Business Head, at a recent press conference.

Currently holding a 30% market share in India, the company seeks to strengthen its position as the most preferred locks brand in the country. Strategic innovations and an expanding digital product lineup have been key drivers in its goal of heightened revenue. The emergence of e-commerce and quick commerce channels has significantly fueled this transformation.

Digital locks, prioritized by young consumers for their smart and design-oriented safety features, have seen a 45% year-on-year growth. The company noted a doubling in its e-commerce sales as part of a broader strategy to enhance accessibility through seamless security solutions. Additionally, their commitment to the 'Make in India' initiative is bolstered by favorable government policies and new BIS standards for locks.

(With inputs from agencies.)