Indiabulls ventures into LED lighting business

Indiabulls group, which operates in real estate, infrastructure and housing finance, has forayed into the LED lighting business through its listed entity SORIL Infra Resources. This will be the company's first move in a product focused business.

The company will source LED lighting products from third parties and sell them under the brand name, 'IB LED’.

Partha Banik, President, Indiabulls Consumer Product, said, "We expect to capture 2-3% market share in the first year of operation."

He added, “The company is trying to reinvent its growth by adding product business to its existing infrastructure focused services business that can give quick growth. Unlike other infrastructure business, which are capital intensive and have a long gestation period, LED lighting business has a low gestation period."

The company will target the B2B professional lighting segment for offices, malls, showrooms, factories, industries and housing societies, among others.

Banik said, “We will soon have our own manufacturing unit in the coming years."  Till then, six co-makers will be fulfilling its requirement.