At a time when the price of an entry-level air conditioner has come below Rs 10,000, Khaitan Electricals Ltd, currently having a 16 per cent share in the domestic fan market, has chalked out plans to introduce designer fans costing Rs 1 lakh by March next year. | |
| According to company Vice-Chairman and Managing Director Sunil Khaitan, who was in Agra recently for a company meeting, though the mainstay of the company is still fan manufacturing, the company is also diversifying into manufacturing CFL lights, miniature circuit breakers, wires and home appliances. |
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| The company's latest product in this range would be a pressure cooker that is expected to be introduced in the market by the month-end. |
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| He said Khaitan Electricals Ltd had prepared a wide range of designer underlight fans in the 'Fantasy' line and the costliest fan in this range was currently tagged at Rs 10,000. |
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| The company is now preparing for the introduction of the most expensive fan of the country costing Rs 1 lakh, with generous use of precious metals like gold and silver on the blades and canopy, specially designed motors, targeting the elite section of society. |
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| Khaitan said the company's new production plant in Dehradun, established at an investment of about Rs 12 crore, would be ready by March 2008 with an annual production capacity of 1.5 million units. |
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| The targeted turnover for this fiscal year for the company was around Rs 550 crores, he added. |
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