By BizLED Bureau
Nov 9, 2015: Launching a wide range of LED lighting systems for commercial as well as home applications, Bajaj Electricals hinted at a significant 18-20% growth in the lighting business this financial year.
At an event hosted to interact with its customers, Bajaj Electricals introduced a sub-brand .nxt, aimed at helping its customers upgrade to the latest range of LED fittings and lighting systems.
The group expects a strong growth momentum with its new range of products and lighting systems that cover not just commercial and home lighting but street lighting systems also.
The company already has a pan-India market share of over 18% in the domestic lighting market of Rs 30,000 million, and it expects the share to increase during the course of the year backed by new products and growing penetration of LED lighting systems.
According to the recent tenders that were floated by several state governments for supply of LED lighting system, the pricing offered has been extremely competitive at about Rs 70 per bulb. This is quite low as the actual market price is about Rs 180 per bulb. In a bulk supply environment, lighting manufacturers do get into such supply contracts, even though they are not remunerative.