Titan to triple topline in the coming 5 years

On such expansion, the MD, Titan Industries, Bhaskar Bhat said, "We did not project ambitious sales growth this fiscal due to rise in gold prices which impacted our volumes. But the next 5 years presents a big opportunity as we project our revenues to grow from Rs 4,600 crore to Rs 14,000 crore."

Titan Industries has built up a portfolio of strong lifestyle brands also like ' Tanishq - a top-end jewellery brand, Fastrack ' a fashion accessories brand, and Xylys ' a watch brand.

Tanishq will continue to lead the topline growth, in the coming 5 years, with the division expected d to contribute Rs 10, 000 crore.

"The opportunity is still very large in India as the jewellery market is expected to grow from Rs 80,000 crore to around Rs 1, 25, 000 crore by 2014-15. We don't want to renew attention on international markets yet. Even in India, Titan harvested growth from selective markets where the sales grew. Together with significant overhead cost cutting, Titan will see a reasonably good bottomline this fiscal," Bhat added.

The company intends to aggressively invest in advertising while growing its distribution presence beyond traditional watch stores within these markets. The Middle East, South East Asian and African countries together account for 10 per cent of the watch division's turnover.