It will get commenced in 12-18 months time," he said. He said the company had acquired 20 acres of land in Jammu for the factory. "For us, Jammu would have got the CENVAT benefit and Sri City would have got logistics benefit with the presence of Krishnapatnam and Ennore Ports," he said. On the launch of new range of air-conditioners, he said, the company had set a target of garnering 12.5 per cent market share this year. "In 2016, our market share was 10.75 per cent. Last year, it was 11.5 per cent. We have set a target of 12.5 per cent market share for 2018. Our overall plan is to reach 15 per cent market share by 2021," he said. To a query, he said the company had to increase the prices of air conditioners by 4-6 per cent on account of increase in commodity prices like 'copper and steel'. He said the company had set up investments of about Rs 55 crore for taking up marketing purposes and another Rs 35 crore for research and development. To a query, Thiagarajan said 36 per cent of sales was contributed from the metros while remaining 64 per cent was from Tier III, IV and V cities.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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