Welspun Flooring has reportedly tied-up 50% of its hard flooring capacity with a US-based company. However, the name of the US company is not known. Revenue from this contract is expected to flow in from next month onwards.
Meanwhile, in the domestic market the company has expanded its network to 475 outlets including 100 plazas and the company aims to increase this number to 900 outlets by the end of the year.
Initially, the company will be depending more on exports revenue in its flooring business though over the years both domestic and exports revenue will be equally balanced. The company expects to break even in its flooring business by the fourth quarter of this year.
Launched with an initial capacity of 10 million square metres, post completion of all phases, the flooring business facility will have a production capacity of 40 million square metres annually. Of the total 40 million square metres capacity, 25 million square metres will be for hard flooring products while rest will be for soft flooring products. Welspun Flooring is the only company to manufacture both hard and soft flooring under one roof.
Involving a total investment of Rs 1100 crore, the facility is spread across 200 acres, employing close to 1600 members. The company has spent Rs 880 crore on the project so far. The plant is equipped to manufacture wide variety of innovative products ranging from carpet tiles, greens (artificial grass) and broadloom carpets (wall to wall carpet) to the patented product – the Click-N-Lock tiles.