Voltas Beko

India's air-conditioner market likely to reach Rs 50,000 cr by FY29: Voltas

The India room air-conditioners (RAC) market is likely to grow at a healthy CAGR of 12 per cent to reach Rs 50,000 crore by FY 2028-29, Tata group firm Voltas said in its latest annual report. The competition in the Indian RAC market has "intensified" with the presence of homegrown and leading foreign players, said Voltas, a market leader in the segment. Moreover, the competitive "intensity is going to increase" further in the near future, the company said while discussing challenges and opportunities. Factors like increasingly hot summers, rising disposable incomes, and the quest for a better lifestyle with easy access to consumer finance are likely to drive growth for this room air-conditioner segment. "The Indian RAC market is expected to grow at a healthy CAGR of 12 per cent to reach a figure of Rs 50,000 crores by 2028-29," said Voltas. Voltas sold over 2 million AC units in 2023-24, which, according to the company, was the highest number of ACs ever sold by any brand in a si

Voltas working to transform into a full-fledged home appliance maker

Voltas is also reviving its plan to make AC compressors locally in partnership with a South Korean or Japanese firm

Looking to expand footprint, Voltas to strengthen 'Voltas Beko' brand

Cooling products maker Voltas has inaugurated its second brand store in Tiruchirappalli, the 10th such facility in Tamil Nadu, the company said on Friday. Through its home appliances joint venture brand 'Voltas Beko', the company aims to strengthen its product portfolio in 2023 by launching a series of new products. "We are delighted to announce the launch of the second Voltas Brand shop at Trichy, Tamil Nadu. As a market leader, we have always placed the customer at the core of all our business operations and our endeavor is to provide them with technologically advanced products to meet their everyday needs," Voltas Managing Director and CEO Pradeep Bakshi said. "With the new brand store, we aim to further provide a holistic product experience for our consumers," he said. The company has showcased a range of air conditioning and cooling products, along with the latest range of home appliances at the shop located on Fort Station Road, Jerome Building, Tiruchirappalli. Keeping with

Sporadic rains hurt sales of summer products, firms counting on June

The untimely episodes of rainfall have prevented the rise in temperatures in north India which usually experiences hot weather during the months of April and May

As the mercury soars, hiring of temp workers for cooling products rises too

This is despite the relatively late onset of summers thanks to the unexpected rains in March and April in North India

Voltas Beko betting on product development to tide over Covid-19 lockdown

A 50:50 joint venture between the Tata-group-owned Voltas and Arcelik, a Turkey-based home appliances company, Voltas Beko offers refrigerators, washing machines, dishwashers and microwave ovens

Voltas Beko eyes 2.5 mn home appliances by 2025 from Sanand facility

Under the JV, while Beko will bring in its strong research and development as well as global sourcing capabilities, Voltas will contribute in terms of its local branding and distribution strength

After cool FY19, Voltas set to beat summer heat on AC sales boost

Channel checks by brokerages have pointed towards higher sales, which have helped reduce channel inventories

Voltas, Ardutch BV in joint venture for first production unit in Sanand

Voltbek Home Appliances - a joint venture between Voltas and Ardutch BV -- today said it will set up its first manufacturing facility in the country in Sanand, Gujarat. The plant will manufacture home appliances, including refrigerators and washing machines. In May last year, Voltas had formed a JV with Arcelik AS, a company incorporated in Istanbul, Turkey. The JV company proposes to leverage the brand presence and sales and distribution network of Voltas, while Arcelik AS will contribute in R&D and manufacturing. The products of the JV company are expected to be marketed under the 'Voltas-Beko' brand. "Voltbek has today laid ground to start construction of their first manufacturing facility, spread over 60 acres, in Sanand, an upcoming industrial hub in Gujarat. This facility will be manufacturing Home Appliances that include refrigerators and washing machines," Voltas said in a BSE filing. The filing, however, did not disclose investment details. "This manufacturing facility .