Videocon eyes Rs 1,000 cr turnover from AC business

Videocon Industries is eyeing Rs 1,000 crore turnover from its AC business in 2014-15, annual increase of 33%, on the back of new product launches.

Turnover from AC business was Rs 750 crore in 2013-14.

"Despite slowdown in the market, we expect to grow by about 35% and report Rs 1,000 crore turnover this financial year," Videocon Air Conditioner Division COO Sanjiv Bakshi told PTI.

"We have invested in product development and are also increasing distribution points," he said.

Videocon today launched 32 models of split and window air conditioners in the price range of Rs 27,490 to Rs 37,440.

Bakshi said the company is increasing sales points to 5,000 across country from 3,500 last year.

"Majority of the new sales points would be in the non- metro cities. We expect non-metros to be growth drivers for the air conditioner segment," he added.

Videocon is targeting 20% market share in the air conditioner segment in the next two years. "Last year our market share in AC segment was 11%. We hope to achieve 15% market share this year and increase it to 20% in the next two years," Bakshi said.

The company also plans to invest Rs 35 crore this year on marketing and promotion of its new range of air conditioners.