ISTANBUL (Reuters) - Turkish Koc Holding is targeting sales of 80 billion lira ($62.3 billion) in 2008, the CEO of the holding Bulent Bulgurlu said on Tuesday.

Koc is also aiming for its profit to increase 10-20 percent this year, said Bulgurlu, speaking at Koc Holding's shareholders' convention.

Last year Koc Holding recorded a 309 percent surge in net profit to 2.295 billion lira, with sales at 51.4 billion lira.

Bulgurlu also mentioned there had been no concrete developments on the sale of Yapi Kredi Insurance, which its owner Koc said it had started work on earlier this year.

"There are still no developments in our work to sell Yapi Kredi Insurance. As you know, these are long-term efforts. Talks are continuing," said Bulgurlu.

Yapi Kredi Sigorta is controlled by Yapi Kredi Bank YKBNK.IS, which in turn is owned by Koc Holding and Italy's Unicredit (CRDI.MI: Quote, Profile, Research).

Earlier in the day a Koc official said the holding's sale of its Migros retailer to a consortium led by BC Partners would be complete by the end of May.

(Reporting by Mustafa Yukselbaba, editing by Will Waterman)