Godrej Enterprise Group Aims for a 50% Revenue Surge in Security Solutions Business by FY27

Bengaluru, November 26, 2024: The Security Solutions business of Godrej & Boyce, part of Godrej Enterprises Group, has set an ambitious goal of achieving a 50% growth in revenue by FY27, targeting a top-line of ₹1,500 crore. This marks a significant leap from the ₹1,000 crore revenue recorded in FY24, driven by a sharpened focus on expanding exports to the Americas and Europe, alongside leveraging domestic regulatory changes.
 
The company’s exports currently contribute around 10% of the division’s revenue, with significant potential for growth. By FY27, exports are projected to account for 14-15% of the business’s revenue, with the Americas and Europe expected to be the primary growth drivers. Despite recent geopolitical challenges in the Middle East affecting freight costs and transit times, the company remains steadfast in its commitment to serving global markets with cutting-edge security solutions.
 
Speaking on the company’s growth roadmap, Pushkar Gokhale, Executive Vice-President and Business Head of the Security Solutions Business at Godrej & Boyce, stated, “The global demand for advanced security solutions, particularly in the Americas and Europe, presents a tremendous opportunity for us. These regions account for 60% of the global market, and we are strategically positioning ourselves to capture this demand with innovative and compliant products tailored to international standards.”
 
In addition to its export strategy, Godrej continues to innovate across its diverse portfolio of security solutions, which includes fire-resistant safes, vaults, access control systems, and advanced alarm technologies. Its products have become synonymous with trust and reliability, serving an extensive client base that includes banks, corporations, defence sectors, and prestigious government institutions.
 
Domestically, the business is poised to capitalize on regulatory developments such as the recent BIS (Bureau of Indian Standards) mandate for safes and vaults. This policy shift is expected to favour the brand, which already controls 80% of the organized B2C market and 58% of the B2B segment in India. Such regulations are set to accelerate the transition from unorganized to organized players, enhancing market share for companies that prioritize quality and compliance.
 
Further emphasising, Gokhale said, “Security is no longer just about safeguarding physical assets. It is about ensuring peace of mind and trust, whether at home, work, or in public spaces. With our unwavering commitment to innovation and excellence, we aim to redefine global security standards and establish India as a hub for world-class security solutions.”