Godrej Appliances eyes Rs 1,400 cr turnover in FY08

New Delhi, Sept 2 (UNI) With the introduction of a new array of home appliances and by augmenting the production capacity of Mohali and Shirwal plants the home product division of Godrej and Boyce Ltd expects to clock a turnover of Rs 1,400 crore this fiscal.

''Our completely indigenous technologies developed by Godrej and endeavour to launch new products every time will boost the sales,'' Godrej Appliances Chief Operating Officer George Menezes said.

The company recorded a turnover of Rs 1,000 crore last fiscal.

Presently, the company has a market share of eight per cent in the washing machine segment, which it targets to increase to 12 per cent, company's Vice President (Sales and Marketing) Kamal Nandi told reporters.

Mr Nandi further said Godrej will pump in Rs 80 crore on both plants to upgrade the production capacity of refrigerators to 1.5 million units by 2008, while the capacity of washing machines wll remain the same.

Godrej Appliances launched the Godrej EON washing machines with Dynamic Aqua-power Control (DAC) technology, priced between Rs 12,500 to Rs 14,000.

''We have been conducting extensive research on the washing machine needs of consumers, and the problem of water and power shortages and power shortages stood out clearly. These washing machines are crafted like EON range refrigerators and air-conditioners, to deliver the promise of EON Stylish outside, Smart inside,'' Mr Menezes said.

The washing machine market is growing at 20 per cent.

The EON washing machines will be available in the north markets through Godrej's own showroom dealer network.

Meanwhile, company's President and Executive Director Phil Lam said the parent company is targetting a turnover of Rs 3,600 crore this fiscal, driven by its 14 businesses and a growth of 30 per cent.

UNI