New Delhi: Consumer electronics and appliances maker Veera on Monday said it will invest Rs 450 crore to set up a new manufacturing unit in Greater Noida to expand the capacity of air coolers and washing machines.
As a result of this investment, the current production capacity of washing machines and air coolers will increase from 1 lakh to 5 lakh units annually, Vieira said in a statement.
“This expansion reflects our commitment to serve both domestic and international markets,” said Ankit Maini, Director, Veira. He said the company expects these product segments to contribute 15 percent to its revenue by the end of fiscal year 2025.
The company, a contract manufacturer, said it already manufactures air coolers for 23 Indian and global brands. Similarly, it manufactures washing machines for 25 such brands.
Currently, the company said it has two facilities covering a combined area of 5 lakh square feet in Sectors 81 and 85 of Noida.
As a result of this investment, the current production capacity of washing machines and air coolers will increase from 1 lakh to 5 lakh units annually, Vieira said in a statement.
“This expansion reflects our commitment to serve both domestic and international markets,” said Ankit Maini, Director, Veira. He said the company expects these product segments to contribute 15 percent to its revenue by the end of fiscal year 2025.
The company, a contract manufacturer, said it already manufactures air coolers for 23 Indian and global brands. Similarly, it manufactures washing machines for 25 such brands.
Currently, the company said it has two facilities covering a combined area of 5 lakh square feet in Sectors 81 and 85 of Noida.