Hitachi expects Rs 650 crore turnover in FY 2009-10

Hitachi Home & Life Solutions (India) Ltd, a subsidiary of Hitachi Appliance Inc, Japan, is expecting the sales turn over of around Rs. 650 crore in the current FY 2009-10, with 25 per cent rise as compared to that of last year.

The company has also set the target of increasing its domestic market share to 8.5 per cent in Room AC segment by the next FY 2010-11, from the current market share of 7 per cent.

With a total installed capacity of 4 lakh units a year, Hitachi Home & Life Solutions (India) Ltd is one of the major air conditioning companies in the country.

The company has strong nationwide distribution network, consisting of 18 branches, 159 exclusive sales and service dealers, more than 600 showroom dealers and 350 service points.

“The company has been growing at an average rate of 26 per cent for the last three years. In the current FY 2009-10, we are expecting around 20-25 per cent growth. We are concentrating on Room AC segment wherein we currently hold 7 per cent market share. We are planning to increase our market share to 8.5 per cent in the same segment (Room AC) by the next FY 2010-11,” Anil Shah, Executive Director, Hitachi Home & Life Solutions (India) Ltd, told Business Standard.

The company registered a turn over of Rs. 515.76 crore during the FY 2008-09.

In the first nine months of current FY 2009-10, the company has achieved the sales turn over of Rs. 483.10 crore.