Home decor and textile brand Maspar Home Fashion plans to target service apartment developers in major information technology hubs like Pune, Bangalore and Gurgaon.
With sales figure of more than Rs 50 crore (Rs 500 million) last year, the company now aims to concentrate more on domestic market as against its export business.
Speaking to Business Standard, Maspar managing director Rajesh Mahajan said, "We are into production and sales of probably the most unique textile material and almost all our products are in the premium range. A large number of real estate developers are approaching us to decorate service apartments or studio apartments. In Bangalore, we have done a number of such deals for service apartments."
The company hence has entered cities like Pune, Gurgaon, Noida and Bangalore in its initial phase of expansion.
Maspar has two showrooms each in New Delhi and Bangalore while a showroom each in Mumbai, Gurgaon, Noida, Pune and Ludhiana. "We promote our products through interior designers and architects. Quite a few real estate developers buy Maspar products for their sample flats. We will continue to strengthen this method of promotion across Inida," Mahajan stated.
The company last year did a business of Rs 50 crore, out of which Rs 10 crore (Rs 100 million) were earned from domestic market. "We plan to increase our domestic sales. We expect that the amount will hit Rs 25 crore (Rs 250 million) this year," he stated.