Attero Starts E-Waste Collection from Homes, Targets Rs 100 Cr Revenue

New Delhi, Jul 31 (PTI) E-waste recycling company Attero has started waste collection from homes in 10 cities through its newly launched subsidiary Selsmart, a senior company official said on Wednesday.

Selsmart is the first integrated consumer e-waste take-back platform that will buy electronic waste from consumers and hand it over to Attero for recycling.

Attero CEO and Co-founder Nitin Gupta said that the company has plans to expand collection of e-waste like old washing machines, heater, TV etc across India in the next three years which is expected to lead to annual recurring revenue (ARR) of Rs 1000 crore for Selsmart in the third year of operation. ARR refers to income that is generated every year for the life of a subscription or contract.

"Selsmart addresses the significant gap in household electronics disposal. It is the first initiative in the country to collect e-waste directly from consumers and recycle it in a responsible manner. We expect to collect 14,000 metric tonnes (MT) of e-waste through Selsmart in this inaugural year which translates into Rs 100 crore revenue for us," Gupta said.

The company has started service in 10 cities which include Delhi NCR, Bangalore, Mumbai, Chennai etc where consumers can book the service from Selsmart website and sell their discarded electronic products.

Attero currently processes 144,000 MT of e-waste annually at its Roorkee plant and plans to expand it to 415,000 MT in the next five years.

The company also has the capacity to recycle 15,000 tonnes of lithium-ion batteries annually which it plans to increase to 50,000 tonnes per annum in the next five years.

"In the next three years, we will expand our Selsmart collection capacity by 10 times which will also directly lead to an increase in revenue. From the third year onward, we expect to have Rs 1,000 crore annual recurring revenue," Gupta said.

Attero has 70 original equipment manufacturers (OEM) on board for e-waste recycling and 5 OEMs for Selsmart.

Attero has earmarked over Rs 8,000 crore investment in the next five years for the expansion of recycling capacity.