Betting big on a range of new products, including commercial refrigeration, high-end televisions, cooking and food processing appliances, Godrej Appliances is targeting a turnover of Rs 2,000 crore (Rs 20 billion) for 2008-09 against Rs 1,400 crore (Rs 14 billion) in the current financial year.
George Menezes,COO, appliance division, Godrej, said, "We hope to touch Rs 2,000 crore (Rs 20 billion) in 2000-09 at a growth rate of 45 per cent against 30 per cent last year."
Godrej Appliances is a division of the Rs 4,000-crore (Rs 40 billion) Godrej & Boyce Manufacturing Company. "Our aim is to grow above 40 per cent every year and double the turnover every alternate year," Menezes added.
The company also launched its first complete range of direct cool refrigerators, Edge, with a 5-star energy rating today.It will have a line-up of 50 new models. The range is priced between Rs 8,600 and Rs 14,500. With this, the company hopes to become the market leader.