Mumbai: Surya Group, the maker of lighting equipment and steel pipes which has forayed into LED segment, today said it plans to add 50 new products in this space by investing an additional Rs 25 crore.
"The Rs 4,000-crore Surya Group plans to add 50 new products by investing an additional Rs 25 crore in R&D," B Raju, Managing Director of Surya Roshni, a Group company, said in a statement here.
Surya's R&D unit has claimed to have developed mercury- free LED lamps, which the company said, saves a whopping 96 per cent energy. Besides, the life of these LED lamps is 25,000 hours which works out to about 15 years with a wide voltage range of 110 to 300 volts.
The Group is a market leader in conventional bulbs, tubes and lamps. For the current fiscal, it envisages a sales turnover of about Rs 150 crore from the LED segment.
Over the next 3-4 years, Surya expects a turnover of Rs 1,800 crore from its lighting division and is positive about prospects in the near and long-term, Raju said.
The 41-year-old company manufactures about 80 per cent of its products in-house and the rest is outsourced. It has manufacturing units in Gwalior and Kashipur (Uttarakhand).
Surya Group exports its products to more than 44 countries, including those in Europe, North and South America and South-East Asia, the statement added.