Danfoss expects to double India business revenues by 2025: Official

Danfoss India, a leader in heating, ventilation and air-conditioning has set a target to more than double its India business revenues by focusing on its core business segments, the company said on Sunday.

The company aims to garner revenues of Rs 5,000 crore by 2025 and as part of the growth strategy it has planned to strengthen its footprint across the country.

For the calendar year 2022 the company expects to end with a revenue of more than Rs 2,000 crore.

With a current presence of 56 cities, Danfoss India has envisioned to expand into over 80 plus cities, improve localisation of its products from an average of 50 per cent to 80-90 per cent.

The company also has plans of introducing new innovative products focused on energy, food, health care, infrastructure and mobility sectors, the company said.

"As a global organisation serving the world's energy efficiency needs for over nine decades now, we at Danfoss are deeply committed to India's de-carbonisation and sustainability journey." Danfoss India region president, Ravichandran Purushothaman said in a statement.

"Danfoss India is seeing a huge digital transformation since the last two years and to support the same, we have added over 1,400 engineers and made investments of over USD 300 million in India to capitalise in the rising green opportunities," he said.

The Denmark based company aims to become carbon neutral by 2030 especially in Scope I and Scope 2 emissions and currently, its headquarters in Nordborg would become carbon-neutral by this year end.

On the India business, company global president and chief executive officer Kim Fausing said, "Danfoss India is in the group's top 10 markets in terms of sales and has the potential to be among the top five soon."

"We have a high growth momentum at Danfoss now. We have made significant investments in the recent past to the tune of Euro 3.5 billion in acquiring companies to be a global technology leader providing solutions that improve energy efficiency..." he said.