The Hindu Business Line : Faber Heatkraft looking at Rs 75-cr turnover next year

FABER Heatkraft Industries Ltd has targeted a turnover of Rs 75 crore in the 2005 calendar year, up from Rs 52 crore expected to be achieved in the 12 months ended December 28, 2004. The sales growth is expected to be fuelled by the introduction of lifetime warranty on select products, among other initiatives.

Addressing a news conference today to mark the launch of the Baffle Filter range of electric kitchen chimneys, Mr Kawal Hira, Senior Vice-President (Business Strategy), said that the Baffle Filter has been developed by the R&D wing of Faber SpA of Italy keeping in view Indian cooking habits. A lifetime warranty has also been introduced on a select range of kitchen chimneys.

Mr Hira said that Faber Heatkraft, a joint venture of Faber SpA of Italy and Heatkraft of Pune, has a 50 per cent share of the domestic market for kitchen chimneys.

The company sells more than 30 models of chimneys in India, which are priced between Rs 4,990 and Rs 65,000.

In addition to kitchen chimneys, Faber's product offerings in India include cooking ranges and built-in gas hobs. The venture is mulling a foray into manufacture of microwave ovens and kitchen sinks.

According to Mr Hira, Faber Heatkraft's product offerings in India would be confined to the requirements of Indian kitchens.

"Only 1.5 lakh kitchen chimneys are sold in India every year. The scope in this regard is high given the fact that for every 80 refrigerators sold in the country, only one kitchen chimney is sold."

The Indian market has the potential of 3.5 million chimney sales annually, he added.

To help grow the market, Faber Heatkraft is focused on creating awareness about the benefits of installing chimneys in kitchens. Promotional schemes, too, would be on offer.

After the metros, the company would unfold awareness creation and promotional programmes in smaller towns, State Capitals and industrial townships.

The number of exclusive Faber Gallerias would be augmented to 55 from 36 now. Faber also has plans to set up the largest exclusive kitchen appliances retail chain in the country, Mr Hira said.

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Faber Heatkraft looking at Rs 75-cr turnover next year