No corporate has sought furniture to help employees put in elongated work hours: Godrej Interio, ET RealEstate

November 1, 2023

MUMBAI: Leading office furniture brand Godrej Interio has “never” been approached by any corporate client asking for solutions to help an employee put in elongated work hours, a top official said on Tuesday. Corporate clients are more focused on making employees more productive, ensuring that they work as a team and also aspects like sustainability, its parent firm Godrej & Boyce chief executive Anil Verma said.

“The short answer is… I never got a customer saying ‘I want my people to work so many hours’,” Verma told PTI, replying to a specific question if the company has seen corporates seeking such help.

Infosys co-founder N R Narayana Murthy recently triggered a flutter by suggesting a 70-hour work week to help in faster growth of the economy.

As companies get employees back to work ending the pandemic period practice of work from home, there is a sharp decline of over 70 per cent in the revenues from individuals, Godrej Interio’s business head Swapneel Nagarkar said.

However, the demand from corporates, including co-working spaces, has grown in the last few months, he said.

The company, which launched a new chair offering on Monday, is aiming to double its revenue growth to 25 per cent from FY25 onwards on the back of new offerings, he said.

Nagarkar said in FY23, the company’s office furniture revenues grew 12 per cent to over Rs 1,200 crore.

At present, it commands a 15 per cent market share in the office furniture space and aims to increase the same to 20 per cent in the next 18 months on the back of higher growth.

Over the next 18 months, the value share of ergonomically designed furniture which meets sustainability requirements will also increase to 40-42 per cent from the present 30 per cent, Nagarakar said, attributing the same to increased awareness among customers.

The company said the ‘wellness seating solutions’ category is expected to grow by 50 per cent in FY24 and expects the newly launched ‘posture perfect’ chair alone to contribute 10 per cent of the category sales.

It claimed that the newly launched chair supports sitting postures in all positions of recline and has been patented in 13 countries.

  • Published On Nov 1, 2023 at 09:10 AM IST

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