Blue Star expects Sri City manufacturing plant to go on stream in Q3

: Blue Star Ltd, manufacturers of air-conditioners, air purifiers and water coolers expects to commission its largest facility at Sri City in neighbouring Andhra Pradesh later this year, according to a top company official.

The company was also eyeing to garner 14 per cent market share and has projected a growth of 20 per cent during the current financial year, Blue Star Ltd Managing Director B Thiagarajan said.

According to him, the company currently holds 13.2 per cent market share in the residential air-conditioning market.

"This year, we are expecting to commission during the third quarter. By October-December, it should happen...Overall investments will be Rs 550 crore. In the first phase investments will be around Rs 250 crore...," he told reporters after unveiling new range of air-conditioners.

Noting that the company has garnered significant presence in South and West market, Thiagarajan said they are planning to step up presence in North, East and Central parts of the country.

"One of the reasons for roping in (ace cricketer) Virat Kohli as our brand ambassadors is to expand our market reach. We want to expand into New Delhi-NCR, Rajasthan, Eastern and central regions," he said.

On the launch of new range of air-conditioners, Thiagarajan said, "we continue to diligently curate our product and price mix to cater to the entire spectrum of residential ACs market. With our constant focus on research and development and manufacturing, we are confident of rolling-out products offering immense value for money."

"A staunch believer in Aatmanirbhar Bharat, we had already expanded our indigenous manufacturing in Himachal Pradesh; and are further scaling our manufacturing operations by setting up a world-class plant at Sri City backed by the PLI scheme by the government of India," he said.

The company unveiled new television commercial as part of launch of new range of air conditioners.