Voltas targets Rs 10,000 crore by 2010, plans three new plants

Vijayawada, May 18 (UNI) Voltas Ltd, a TATA group company, is all set to achieve target growth of Rs 10,000 crore turnover by 2010.

Addressing a press conference here, K D Virmani, Senior General Manager, Voltas, said the company had achieved Rs 2000 crore turnover in 2005-2006 and had sold about two lakh air-conditioners all over the country in 2005-2006. The company planned to sell three lakh air conditioners in 2006-2007 by improving its turnover to Rs 675 crore.

Mr Virmani said the company planned to open three new plants in Uttaranchal at a cost of Rs 120 crore, of which, the first plant would be commissioned by June and the second in September this year.

He added that the company planned to invest Rs six crore in retail expansion and increase dealer network from 100 to 175 in Andhra Pradesh.

He said Voltas, which was number two in the air-conditioning industry with a market share of 16 per cent, would register a boom in the next few years.

Stating that the South was a key market, he said there was a huge untapped potential in the coastal belts and focus will be on to expand the distribution in category 'b' towns to achieve a market share of 20 per cent in 2006-2007.

Mr Virmani, who was here to open two new showrooms said Voltas, keeping with the present stategy of reaching out to 'aam admi' had opened six exclusive showrooms in the past two months.

He said the company had earmarked advertising budget of Rs 20 crore for a multi-media campaign across the country and had separately allocated Rs one crore for various below-the-line sales promotion activities in Andhra Pradesh.

UNI CS AJ 1654