To increase its foothold in smaller cities and towns to achieve growth targets
Voltas expects to sell 10 lakh airconditioning units in the current fiscal with an aim to maintain its revenue growth of 20 per cent in a sluggish market environment.
“For the last 1-2 years, the industry has not been doing very well. But, Voltas has seen a 20 per cent growth in turnover. We are targeting similar growth this fiscal as well,” Voltas Unitary Products Business Group (UPBG) Chief Operating Officer Pradeep Bakshi told reporters here. The company’s UPBG vertical posted a turnover of Rs.1,560 crore in 2011-12.
While the company sold about nine lakh air-conditioning (AC) units in the last fiscal, it is expecting to market around 10 lakh units in the current fiscal even as the “upmarket sentiment does not seem very upbeat”.
Meanwhile, the company on Thursday introduced a new range of ‘all-weather’ ACs, and is looking to increase its foothold in smaller cities and towns to achieve growth targets. “We are looking to penetrate more into Tier-II and Tier-III towns and will be investing about Rs.60 crore on marketing the product and making it available in these areas,” he said.
Voltas would look to maintain current prices, despite commodity prices going up.
The company sells items such as ACs, water dispensers and commercial refrigeration products under its UBHG business.