Prestige eyes Rs1,700-cr turnover in FY16 with new launches, good market sentiments
New Delhi: Kitchen appliance brand TTK Prestige Ltd is eyeing a 15% rise in turnover to over Rs1,700 crore this fiscal on the back of new product launches and better market sentiments.
“We are looking at 15% increase in turnover to about Rs1,735 crore this financial year... We are expecting better compared with last year due to better market sentiments, good monsoon and new products that we have launched this year,” TTK Prestige senior vice-president (appliances) Dinesh Garg said.
The company had reported a turnover of Rs1,510 crore in the previous fiscal.
In April this year, TTK Prestige has forayed into the domestic home cleaning market and expects the category to contribute up to 10% to its turnover in 3-4 years time. “We are looking at cleaning solutions category very seriously...we expect it to account up to 10% of our sales in 3-4 years time,” Garg said.
Cleaning solutions products launched under the Prestige ‘Clean Home’ banner, offer a slew of unique products, including electric mop and vacuum cleaner-cum-floor polisher among others.
The company is also looking at expanding its network of exclusive stores. “At present, we have 540 exclusive stores that only sell our products. We are looking at adding 40-50 stores every year,” Garg added.
TTK Prestige’s product range includes pressure cookers, cookwares, induction stoves, rice cookers, mixer grinders and small domestic appliances. PTI