Blue Star – the air-conditioning and commercial refrigerator major –- is aiming at 12 per cent market share in room ACs in FY17 with the launch of its new star-rated inverter air-conditioners.

“With a 15 per cent growth expected from the market in FY17, we hope to achieve the 12 per cent share,” C P Mukundan Menon, Executive Vice-President, Blue Star Ltd, said.

With a low penetration level, the air-conditioner market in India is estimated at four million units on a value-wise turnover of ₹10,000 crore.

However, the company has been able to clock a revenue of ₹3,200 crore and the figure is likely to touch ₹3,500 crore by the end of the current fiscal, Menon told reporters on the sidelines of the launch of the Blue Star’s new line-up consisting of 135 models in Kerala.

Around 50 per cent of Blue Star’s room air-conditioner sales are from smaller towns.

The company, according to him, also caters to export market garneting an export revenue of ₹200 crore and this share would be increased to ₹600 crore in three years.

To mark the occasion of platinum jubilee in 2018, there are plans to open the first Blue Star Platinum store in New Delhi this year. These 2,000-sq ft exclusive stores will be operational across important locations such as Mumbai, Chennai, Bengaluru, Ahmedabad, Hyderabad and Kolkata.

Plans are afoot to invest over ₹30 crore on new product development as well as research and design initiatives, he said, adding that the number of exclusive product stores will be increased to 100 from 70 next fiscal.

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