The company expects the new business to turn profitable once it clocks 10,000 crore in gross revenue within three years of completing full-scale operations.
It aims to become the second-biggest player in the ₹80,000 crore Indian decorative paints market, which is currently dominated by Asian Paints. The group has made investments of ₹10,000 crore for the business. "India today is teeming with dynamism, audacity, and a penchant for innovation, which finds a reflection in our paints venture Birla Opus. Aditya Birla Group's deep insight into the building materials ecosystem, built over the years, offers us a unique vantage point," Kumar Mangalam Birla, chairman, Aditya Birla Group said at the launch of the brand. He also inaugurated three facilities in Panipat (Haryana), Ludhiana (Punjab), and Cheyyar (Tamil Nadu).
This story is from the February 23, 2024 edition of Business Standard.
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This story is from the February 23, 2024 edition of Business Standard.
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