Veira Cools Down: ₹450 Crore Boosts Air Cooler Production in Uttar Pradesh

Consumer electronics firm Veira is poised for significant expansion, announcing a whopping investment of Rs 450 crore to establish a new manufacturing unit in Greater Noida. This strategic move aims to ramp up production capacity for its air coolers and washing machines segments, escalating annual output from 1,00,000 to 5,00,000 units.

This expansion underscores Veira's commitment to catering to both domestic and international markets, with an ambitious target of these products contributing 15 percent to its revenue by the end of FY25.

Already serving as a contract manufacturer for numerous Indian and global brands, Veira manufactures air coolers for 23 brands and washing machines for 25 brands. Presently, the company operates two facilities spanning Sector-81 and 85 in Noida, totaling five lakh sq. ft.

News by Rahul Yelligetti