Parryware Roca Pvt Ltd, a 50:50 joint venture between Parryware of Murugappa group and Roca of Spain, the world?s number one bathroom solutions provider, is bullish on institutional sales. The company sees that the contribution from the institutional sales to the total revenue will go up sharply to 50% as against 30% to 35% now, said KE Ranganathan, managing director, Parryware Roca.
As compared to earlier, the demand for premium and sub-premium bathroom products are on the rise. ?To capitalise on the same, Parryware Roca is in talks with almost all the major real estate developers in India to provide end-to-end premium and sub-premium product solutions,? he said.
?We have roped in over 25 leading real estate developers in India in the past one year and hope to sign a few more Memorandum of Understanding with a set of major realtors soon,? he said. The market for premium products is estimated at around Rs 130 crore and it is growing at 25% annually. ?We are the market leaders in this premium segment with a combined market share of 20% which is expected to go up further,? Ranganathan said.
Having obtained the market leadership position in India, the company is looking at penetrating deep into the ?B? and ?C? class cities in a big way. ?We have identified 50 ?B? class cities and 300 ?C? class cities to establish our presence in a big way,? he said. Though we have presence in some of these cities, the company will further strengthen the presence through brand building exercise, increasing presence and awareness programmes, he added.
