Indiabulls Group makes first move in product business with LED lighting

MUMBAI: The Indiabulls group is entering the LED lighting business through its listed entity SORIL Infra Resources, marking its first move in a product focused business.
With its interests spanning real estate, infrastructure and housing finance, the group is now targeting the fast growing segment of LED lighting business, which is estimated to be a Rs 6,500 crore segment in the organised sector. “We expect to capture 2-3% market share in the first year of operation,” said Partha Banik, president, Indiabulls Consumer Product.

Banik said 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 business-to-business professional lighting segment for offices, malls, showrooms, factories, industries and housing societies, among others.

It will source LED lighting products from third parties and sell them under the brand name ‘IB LED’. “We will soon have our own manufacturing unit in the coming years,” Banik said, adding that till then six co-makers will be fulfilling its requirement.