Air conditioner maker Voltas on Sunday said it has recorded a 35 per cent sales growth to over two million units in FY24, becoming the first company in the domestic market to cross this mark.

“The performance was attributed to a consistent demand for cooling products during the year, coupled with a strong offline and online distribution network, and new innovative launches,” the Tata Group firm said in a statement.

The country’s residential AC market is estimated to be around ten million units in FY24 and is expected to grow to 11.5 million units this year.

Even during the March quarter, when sales of compressor-based cooling products are low due to convenient temperatures, "Voltas registered a significant volume growth of 72 per cent in AC sales during Q4 FY24".

Its MD and CEO Pradeep Bakshi said, "We believe that our wide presence, focus on the emerging retail channels, excellent distribution network, strong brand equity and attractive consumer offers have helped us to achieve this significant milestone".

Voltas is now expanding its retail and distribution network to cater its growing product portfolio.

"The company registered a significant growth in volume in other cooling products, including air cooler and commercial refrigeration products," said Voltas.

Besides, its home appliances brand Voltas Beko, a JV with Turkish appliances maker Arcelik, also sold close to 2 million units in FY24.

"Overall, 5 million consumer products got sold to customers across the country in FY24," it said.

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