Bajaj Electricals expects FY16 revenues to rise by 17%

New Delhi: Consumer durables maker Bajaj Electricals today said it expects revenues to go up by about 17 percent to Rs 5,500 crore in the next financial year, 2015-16.[caption id="attachment_2031227" align="alignleft" width="380"] Representational Image[/caption]The company, which today launched a new campaign for its light-emitting diode (LED) segment, is aiming for up to Rs 1,200 crore revenue from its lighting division."We would have a revenue of Rs 5,500 crore next fiscal year. The growth would come from all the segments of the company," said Bajaj Electricals Chairman and Managing Director Shekhar Bajaj.The company is expecting to close this fiscal with a revenue base of Rs 4,700 crore. It had a turnover of Rs 4,000 crore in FY 2013-14, he added.Bajaj Electricals had sales of about Rs 92 crore from the LED segment this year and expects that to double in 2015-16."This fiscal, we have a revenue of up to Rs 60 crore from business to business sales and Rs 32 crore from business to consumer segment in LED segment this year. We expect it to be at least double in the next fiscal," said Bajaj Electricals President - Lighting Business Group Sundararajan R.Moreover, 80 percent revenue of the lighting would from LED segment in the next five years, he added.Bajaj Electricals has formed a partnership with Cisco and is jointly bidding for the smart city projects. The government is planning for 100 smart cities across the country and Bajaj Electricals is looking at a good business opportunity in this.PTI