Blue Star eyes Rs 1,700 cr revenue from AC segment in FY19

New Delhi: Air conditioner maker Blue Star on Tuesday launched 100 products for this summer season and has set a target of Rs 1,700 crore revenue from room AC segment as well as higher market share in the current fiscal.

"There are strong indications of a severe summer sand the market is expect to grow by 15-20 per cent, driven by increase in demand. At Blue Star, we are looking at increasing our market share to 12.5 per cent from 11.5 per cent at present," Blue Star Joint MD B Thiagarajan told reporters.

Blue Star President - Sales & Marketing, Product Business & Corporate Management Representative C P Mukundan Menon said the company is looking at clocking Rs 1,700 crore revenue from room ACs for the current financial year. The company had garnered Rs 1,500 crore revenue in the fiscal 2017-18 from this vertical.

The company on Tuesday launched 100 new models of various ACs, including 40 models equipped with energy efficient inverter technology. Blue Star also plans to invest Rs 85 crore in the current financial year on new product development, research and design and advertising and brand promotion in this financial year.

The company said it intends to add 50 exclusive store this fiscal, taking the total exclusive stores count to 200.