Homegrown consumer durable company Videocon is eyeing Rs 1000 crore from its AC business in 2014-15, a increase of 33 per cent on the back new product launches.
"We are expecting to achieve Rs 1000 crore turnover by the fiscal end, and to achieve this target we are launching 34 new products," said Videocon COO Air Conditioners division Sanjeev Bakshi. The company has achieved Rs 750 crore turnover from AC business in the last fiscal.
When asked about new manufacturing plant Bakshi told The Pioneer "we have 10 plants but yes after the election we are planning to set up another plant in Andra Pradesh." However he refused to give more details.
Videocon is targeting 20 per cent market share in the air conditioner segment in the next two years. "last year our market share in AC segment was 11 per cent. We hope to achieve 15 per cent market share this year and increase it to 20 per cent in the next two years," Bakshi said.
The company is also planning to spend Rs 35 crore this year on marketing and promotion. Videocon on Friday 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.