Veva Toys Global to invest Rs 1,000 cr in 5 yrs;

Chennai: Homegrown toy manufacturer Veva Toys Global is investing Rs 1,000 crore over the next five years. The investments are aimed at scaling production, setting up a new factory, expanding component manufacturing, and strengthening R&D, as the company taps into the export market. It is also diversifying into drone manufacturing to produce toy drones for kids and professional drones for commercial purposes."This will be a phased investment. Over the next five years, we will invest up to Rs 1,000 crore as we scale our manufacturing capabilities and build a more integrated ecosystem. We are creating an ecosystem where we will manufacture our own PCBs, motors, and batteries used in toys, with the goal of reducing dependence on imports over time," Vishal Nahar, MD, Veva Toys Global, told TOI. Currently, the manufacturer has 85% localisation, while PCBs, motors, and batteries are still imported.The company is likely to launch drones by May. "We will focus on developing different types of drones. Our drone portfolio will comprise toy, hobby, and professional drones, which have a huge market not only in India but across the globe. Toy drones will have a maximum flight height of less than 100 ft. We are diversifying into the drone segment because we have proven our capabilities in creating quality remote-control cars," he said.Launched in 2022, the company produced 25 lakh toys during the last fiscal year (2025–26). It operates in the remote-control cars, die-cast models, and battery-operated and non-battery preschool toys segments under the Popsugar, Frendo, Race N Roll, and Veva Toys brands. Online and quick-commerce platforms contribute 60% of its sales, while the remaining 40% comes from retail outlets in India.According to Nahar, the company will initially launch exports to the USA, Canada, South America, Australia, and the UAE. "We have already received export orders and will commence exports during the second quarter (July–Sept) of the current financial year (FY27). Going forward, exports will account for 60% of our total production. At present, we have two facilities on the outskirts of Chennai, and another factory will be established as we double our production," he said.