India
Nitco targets Rs 1,000 cr turnover
Kochi | Saturday, Jul 19 2008 IST
Nitco Group, whose flagship company Nitco Tiles, is a leading player in the flooring industry, is targeting a turnover of Rs 1,000 crore in 2008-09, with the tiles segment expected to contribute Rs 700 crore. Addressing the press to mark the opening of its exclusive showroom 'Le Studio' here, the first in Kerala, Nitco Tiles Vice-President (Sales) Pervez Amin said the group's turnover last year was Rs 650 crore, with the tiles company contributing Rs 460 crore. Nitco Tiles, which had a market share of 12 per cent for ceramic tiles and 18 per cent for vitrified tiles nationally, was aiming at a market share of 17 per cent and 22 per cent this year. He said the market for tiles had been growing at about 15 per cent year-on-year with segments like vitrified tiles growing by 30 to 60 per cent. The company, which began manufacturing mosaic tiles in 1966, presently offered about 120 designs each in ceramic and vitrified tiles. It had also come up with innovative products such as marble bonded tiles and agglomerated marble, which will be launched in the market in the first week of August, he said. The price range of the company products ranged from Rs 35 to Rs 350 per sq ft. Company General Manager A Ramakrish said Nitco Tiles had a market share of 15 per cent for ceramic tiles and 20 per cent for vitrified tiles in Kerala. The showroom in Kerala, the third in South India after Coimbatore and Chennai, is spread across 2,800 sq ft and would also house mock-ups to give the customers a preview. Nitco Tiles presently has 17 showrooms all over the country and a network of 550 dealers and 5,000 sub-dealers, he said. -- (UNI) -- 19MC4.xml
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