New Delhi: Healthcare and FMCG firm Hamdard is aiming to increase its product portfolio, with plans to introduce around 15-16 new products as it targets to become a Rs500 crore company by 2010-11.
“We will be introducing around eight new products in OTC, six in consumer and around two in traditional medicines in the next two years. Our plan is to clock a turnover of Rs500 crore by 2010-11, up from Rs300 crore,” Hamdard (Wakf) Laboratories chief marketing officer Arshad Siddiqui told PTI on the sidelines of a company’s event here.
The company will invest Rs60 crore in marketing and another Rs9-10 crore in R&D this year.
It is also planning to increase its retail presence to around eight lakh outlets and will add additional distributors to its network during the next two years.
He said the company would be increasing its sales force from the existing 300 to 460 within the next two years.
“We are also planning to ramp up our retail presence to reach a figure of around eight lakh outlets from the existing five lakh outlets,” Siddiqui said, adding that places like West Bengal, Maharashtra and the South would be the main focus areas.
The company, which produces brands like Rooh Afja, Rogan Badam and Safi, has around 600 formulations in the market under the three segments of OTC, consumer and traditional.