Fueled by the growth in demand for its premium category products, consumer durable maker Godrej Appliances is expecting to close FY24 with Rs 6,000 crore compared to Rs 5,500 crore in turnover in FY23.

The air-conditioners category is also driving growth based on increased consumption, while the premium product segments is driven by the urban and semi-urban markets attributed to the increase in affordability and the tendency for upgrading to premium products with first purchases. 

Over the years the company has launched a full range portfolio in air-conditioners and has introduced ‘anti-leak’ technology for smart air-conditioners and energy-efficient air-conditioners. The requirement for refrigerators is also picking up in the segment.

The company has registered a growth of 120 percent year-on-year in its premium products. The company’s air-conditioner segment revenue crossed Rs 650 crore in FY23 and is expected to cross Rs 1,000 crore in FY24.