"The company intends to continue its aggressive thrust in the room air conditioners market and aims to gain a market share of 12 per cent in financial year 2016-17 in terms of value," Blue Star Executive Director and President (AC&R Products Business), B Thiagarajan, told reporters here.
"The room air conditioners market in India grew by 10 per cent in the current financial year, while Blue Star grew by 20 per cent," he said, adding that Blue Star currently has 10 per cent value share in the segment.
"The company, which currently has five manufacturing facilities, would set up two more manufacturing units, one in Jammu and the other at Sri City near Tada in Andhra Pradesh, by investing Rs 215 crore, Thiagarajan said.
"The Jammu facility would be commissioned by March, 2017, while the Sri City unit is expected to get commissioned by March, 2018," he said.
The company plans to invest about Rs 40 crore in marketing in the forthcoming summer season and Rs 30 crore in new product development as well as its research and development initiatives in FY17, he added.