Consumer electronic goods maker BPL, which has forayed into the home automation sector, is expecting a business of Rs 500 cores in the next five years from this segment.
“Based on the current indications and interest levels in home automation, we see this segment contributing around Rs. 500 crore to our overall top line in the next 5 years,” BPL Techno Vision CEO K. Vijaya Kumar told PTI.
The home automation segment has the potential to grow 25 per cent CAGR in next five years, he added.
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The company markets its automation solutions under BPL IQ brand and is a pioneer in wireless intelligent home automation solution in India.
“BPL’s foray into the home automation sector has been ahead of its current competitors. Our solution stands a good chance with Indian consumers because it is flexible, simple to use, has advance wireless technology and can be retrofit in homes,” Mr. Kumar said.
The home automation segment includes centralised control of lighting, HVAC (heating, ventilation and air conditioning), appliances and security locks.
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The BPL group firm has 30 dealers pan-India and would expand its sales network in the coming years.
“The response from the channels has been very good, which is why we are working on increasing number to 50 immediately,” Mr. Kumar said.
BPL, an electronics market leader of early 90s, has designed and developed automation system indigenously and is manufactured by BTVL.
“We are manufacturing all devices at our Old Madras Road factory at BPL IQ Labs. The components that go into making these devices, which support wireless, intelligent, automation solution, are made in house. In fact, we have an installed capacity to reach top line sales of Rs. 500 crore,” Mr. Kumar said.
According to him, home automation segment has good export potential and there is demand from overseas.
“We are getting a lot of enquires from Qatar, Dubai and Singapore,” he added.