BenQ aims Rs 2,000-cr business from India by 2028, to expand play in home projectors

Mumbai, May 9 (PTI) BenQ, a Taiwan-based leading display solutions provider, is aiming to double its India business and achieve a turnover of Rs 2,000 crore by 2028, aided by expansion of home projectors business and opportunities coming from educational institutions.

BenQ Group, which also operates in several other verticals, is also looking to expand its presence in the healthcare segment, where it operates with high-end precision medical electronic products as portable ultrasound products and solutions for operation theatres, said its India and South Asia Managing Director Rajeev Singh.

Moreover, BenQ is also encouraging local manufacturing as its interactive flat panels and b2b projectors are primarily manufactured in India through third party and may even consider to have its own plant in future, he said.

"Specially in projectors, we are the first company that started this initiative. We are getting them manufactured through contract manufacturers. And I am sure that in the years to come, there will be a possibility that our group should be looking at having a manufacturing setup in India," Singh told PTI.

BenQ, which follows calender year as its financial year, to have a Rs 1,000-crore turnover by the end of this year.

"We are aspiring for a 30 per cent compounded year-on-year growth. What that means is, basically we are looking at doubling our turnover every three years," he said.

If the company will touch a turnover of Rs 2,000 crore by 2028, Singh said, "Yes. That is the kind of plan we have." The company looks as its interactive flat panels (mainly used in the educational institutions), home projector and monitor business as its "growth driver" for its India business.

India is the third-largest market globally for BenQ after China, followed by the US.

"India is one of the most promising markets for us. We expect a lot of growth from this market," said Singh.

BenQ operates in b2b and b2c segments, where its revenues are equally divided. Its b2b business consists of interactive flat panels and data projectors, while its home projectors and monitor business are part of b2c.

BenQ, which on Friday here launched two new models in its line up of home cinema projectors -- W5850 and W4100i -- is encouraged with the growth of culture of home cinema, advancement in technology and availability of contents from OTT platforms in the country.

"So nowadays, we have seen that the content consumption habit of customers at large has changed a lot. Now people are not really in a habit of going to multiplex and watching a movie so and all the content is available on OTT also so fast. So people are wanting to have that multiplex experience at home," said Singh.

BenQ, a market leader in the home cinema projection segment expects to have 50 per cent share of the market, by the end of this year.

"The home projector market is growing fast in India. We are seeing a year-on-year growth of almost 25 per cent. So that means over the next three years, we can expect the projector market to double," he said.

The BenQ group, a USD 25 billion powerhouse, operates with 20 independent companies in nearly 30 countries.

Whether it plans to expand its operations by entering more segments, Singh said, "There are a lot of areas where we are yet to start up our business in India, and medical, or health health segment is one of the businesses that is there. So we do expect that our group is seriously looking at these opportunities to expand presence into India, into the other businesses as well." BenQ has portable ultrasound products, a complete solution for operation theatres, including operation beds, OT lighting, as well as monitors used during surgeries.

"We already have some presence, because we already have our distributor in place for that, but definitely the group would be looking at increasing this presence a lot, looking at the opportunity of India marketing future. In future, we expect that direct presence also," he said. PTI KRH TRB