AHMEDABAD: Godfrey Phillips India today launched a tobacco free pan masala under the label of Pan Vilas.
    
"We are targeting 5% share in the estimated Rs 1,500 crore premium pan masala segment in the launch year," Godfrey Phillips India (GPI), executive vice president for marketing & corporate affairs Nita Kapoor said here while launching Pan Vilas, which is placed in the the premium category.
   
 "We have set up an exclusive facility at Baramati near Pune to manufacture this product after an investment of Rs 50 crore in machinery and would ramp up this to Rs 125 crore over next three years," Kapoor said.
    
GPI is the second largest tobacco player with an annual turnover of over Rs 2,200 crore (in FY09).
    
"Nearly 15 to 20% of total GPI sales come from Gujarat, and with this launch we expect 30% of our turnover coming in the next three years," Kapoor said.
    
The premium pan masala market in Gujarat is pegged at Rs 200 crore, and it is expected to grow around 11% per annum, she said.