PAs the Real Estate Industry of the country gains pace after the slowdown, many different firms plan to foray into the sector. One among them is the Global Lighting Controls Major LUTRON.
Lutron which is present in the country for more than 10 years is likely to enter into the residential apartment space. Till now they have been focusing only on the hospitality sector and high end residential projects.
Lutron’s Country Manager-India, Mr. Manjul Trehan said, “This is a very nascent market, and we have not touched residential apartments yet. But looking ahead, this would be the volume business. We are in talks with a few real estate companies.” Further he added that the company will mainly concentrate on projects where the expenditure on lighting will be more than one lakh.
The company is looking at 2-3 players in the eastern part of the country but the region is likely to contribute very minimally to the firm’s earnings. Mr. Trehan hoped to double the figures in the next few years.
Even though the company was not badly affected by the slowdown in the market the present and the coming year look challenging for the company.