Godrej Storage Solutions Executive Vice President & Business Head Vikas Choudaha says that they are also open to acquiring existing facility if it fits into their scheme.
City-based warehousing solutions provider Godrej Storage Solutions (GSS), a market leader in storage systems, has announced setting up of a green facility near Chennai at a staggered investment of ₹350-400 crore over next two-three years.
“Currently, we are operating at 75% of installed capacity of 90,000 tonnes of steel per month and it will run out in 18 months time,” said GSS Executive Vice President & Business Head Vikas Choudaha at a press meet.
GSS is a division of Godrej & Boyce that manufactures pallets and shelves in Ambattur Industrial Estate spread over 27 acres.
“We have started the process of setting up a similar or slightly bigger facility. The investment will be in a phased manner of ₹350-400 crore in two-three years, excluding land value. We are looking for land within 100 km radius,” he said.
During FY24, GSS reported a revenue of ₹1,000 crore and it expects the revenue to be flat for FY25 due to softening of steel prices in current quarter.
“While the industry is expected to post 8-9% growth, we will grow in line with that, whereas exports will grow by 20%,” he said.
Besides, GSS is aiming to increase the export’s volume share from the present 20% to 30%. In revenue terms it is expected to grow to ₹500 crore by FY27 out of the total revenue of ₹1,600-1,700 crore, he said.
To achieve the growth, Mr. Choudaha said that they are planning to enter Australia. Currently, it caters to Middle East and Asia Pacific among others.
