New Delhi: Luxury mattress brand Springfit aims for a turnover of Rs 1,000-1,200 crore in the next five years, helped by growth from domestic and exports markets, said a company official.

As part of its expansion strategy, Springfit is investing to double its manufacturing capacity to meet the growing demand, expand its distribution network, and add more exclusive showrooms.

Besides, the Delhi-based company may try to get listed on the stock exchange in the next 2-3 years, said Springfit Executive Director Nitin Gupta.

For the fiscal year ended March 31, 2022, Springfit achieved a turnover of around Rs 250 crore and aims to grow almost double this fiscal year to Rs 450-500 crore.

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"We are confident of doubling our revenue to Rs 1,000 to 1,200 crore, over the next five years with our expansion. Most of the new incremental venue should come from revenue from the upcoming Meerut and Vadodara plants. If our plans as planned, we should be over Rs 1,000 crore entity by FY27. Gupta told PTI.
Source: PTI