Bangalore-based TTK Prestige is betting big on its newly launched low cost water purifier range as it eyes an overall revenue growth of around 15 per cent in the ongoing fiscal.
After launching water purifier priced at Rs 3,495 in collaboration with Swiss-based Lifestraw SA in Maharashtra, Karnataka and Gujarat, the company plans a national roll out of the product that is relies on gravity-based technology that doesn't require electricity.
"We are hoping to capture a double digit market share in the water purifying sector in next 24 months," TTK Prestige COO Chandru Kalro told PTI.
The market size of the gravity based purifier is estimated to be around Rs 2,000 crore at present, he added.
TTK Prestige is targeting lower-middle class consumers in non-metros.
"We are focusing on tier 2 and 3 cities for the purifiers. It would be less of a metro product," Kalro said.
Elaborating on the company's launch programme, he said: "We will be national in three months."
The company will use its existing distribution network and brand to popularise the new water purifiers.
TTK currently imports cartridges from Lifestraw while the product assembled by a third party contract manufacturer in Pune, he added.
When asked about the overall sales growth of the company for the fiscal, he said: "We would grow around 15 per cent this year. The growth would come from all categories specially from water purifier, which is a new segment. It would add into that."
In FY 2013-14 it had a turnover of Rs 1,358 crore and with over 500 stores across the country.
The company would also keep on adding between 70-100 exclusive stores every year in its network in tier 2 and 3 cities.
The company is adopting franchise model for addition of new stores in its existing network.
TTK Prestige is the flagship company of TTK group. The group has seven companies and is present in over 30 product categories.