Finolex eyes Rs 1,000 cr revenue from Bengal market
Times of India | 15 January 2025
Kolkata: Finolex Cables, the Pune-based manufacturer of electrical and telecommunication cables, is eyeing Rs 1,000 crore revenue from Bengal market in the next three years.
The company, which diversified its product basket by entering new electrical segments like fans, switches, lighting and smart door locks, has collaborated with real estate buildings to raise the sale of its products in Kolkata and the suburbs.
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Since the market for electrical wires, cables and home appliances was on the rise, the company might consider investing in the state in the future. Finolex was also looking at acquiring any company here if its products were relevant, said Mathur.
"We have collaborated with 30 real estate developers, including Merlin, PS Group and Emami, in Bengal, and around 17 of them are in Kolkata. Since we have diversified our product line, the builders are taking supplies from us directly at fixed rates as per contracts," Mathur added.
Finolex's business in Bengal is conducted through about 60 direct channel partners, project channel partners and distributors. "While there are 25,000 retailers in the electrical wire and cable segments in the state, we have reached out to 16,000 of them. We are planning to cover the rest," he said.