Blue Star targeting to double exports within 3 years, says top official

Blue Star Ltd is targeting to double its exports within three years as the company looks to expand its international footprint

Press Trust of India Chandigarh
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Blue Star Ltd is targeting to double its exports within three years as the company looks to expand its international footprint.

Blue Star Managing Director B Thiagarajan said the company's exports are worth around Rs 800 crore at present and would like to double these within three years.

According to Thiagarajan, the company is going to expand its international footprint.

"We were only in the Middle East (earlier). This year, we have opened an office in the US, Japan, and Europe. So, we want to enter these markets," he said.

"You know China plus one strategy. People want to look at India other than China. Under that, we are exploring these markets. Today, we do exports of around Rs 800 crore, we would like to double it within three years," Thiagarajan told PTI here.

The AC market in the US and Europe is very big compared with India, he noted.

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This year, the company has also bagged a "major order from Bengaluru metro, worth more than Rs 500 crore", he added.

On the company's plans, he said, "We want to consolidate our leadership in existing business... second is to get into large chillers. We were doing up to 600 tonnes of chillers, now we will be doing up to 1,000 tonnes...third is to expand our international footprint".

The air-conditioning and commercial refrigeration major has been manufacturing a wide range of chillers that cool spaces such as office complexes, IT parks, hospitals, airports, hotels and shopping malls.

Blue Star Ltd recently unveiled a comprehensive range of air conditioners, including "best-in-class affordable" range and a "flagship premium" range, for the summer season.

The company is targeting to sell one million units this year as against over 8 lakh units last year.

Replying to a question, Thiagarajan said split air-conditioners are more in demand across the country than window ACs.

The company has an 8,000-strong dealer network. "We would like to take it to 10,000 this year," he said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: May 14 2023 | 12:07 PM IST

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