Saint-Gobain’s My Home aims to clock ₹1,000 cr turnover in next three years
My Home, the B2C vertical of Saint-Gobain in India, which provides home construction solutions including windows, bathroom solutions, ceilings, shower cubicles, lacquered glass and wall coverings among others for homes, is looking to clock close to ₹1,000 crore revenues in the next three years backed by a rising demand for end-to-end home solutions and increased penetration in tier II and tier III towns and cities. The segment registers close to ₹250 crore revenues at present.
According to Hemant Khurana, Executive Director (Homes and Hospitality business) Saint-Gobain India, the market for home construction solutions is estimated to be close to $20-30 billion and is expected to grow multiple fold in the coming years backed by customer requirement for one-stop solutions. But nearly 95 per cent of the market is fragmented at present with very few players providing end-to-end solutions.
Push to home segment
“The one area where India has bloomed in the last two-to-three years is home segment. During the pandemic, home became a very important part of our life (with people spending a major chunk of the day at home) and that has led to increased spending . We have been growing on a month-on-month and quarter-on-quarter basis. We hope to be able to clock revenues of around ₹ 1,000 crore in the next three years but that also will be just scratching the surface,” Khurana told b usinessline.
The company has been able to double its growth rate from the segment in the last two years, though on a low base. “Given the kind of opportunity that exists and the market size, we expect this kind of growth rate to continue for the next three years,” he said.
Expansion to tier-II, tier-III towns
My Home, which has set up experience centres in some of the top metros and tier I towns, is looking to expand into tier II, tier III and even some tier IV towns to tap into the growing opportunity in these markets. Nearly two-thirds of the demand for housing materials comes from these towns and cities, he said.
The company currently has 75 stores in tier I and top metro cities and it is looking to take it to 150 in 2023. A majority of these stores would come up in tier II, tier III and tier IV towns. All the My Home stores are franchisee-owned and operated and the company would continue with this model for its future expansions, he said.
According to Khurana, the company currently offers 15 different solutions under My Home and is looking to add more products and offerings including wardrobes, kitchens and wallpapers among others.
