Future Retail Limited, India’s leading multi-format retailer, is eyeing a turnover of Rs. 130 billion in the financial year 2014-15, Mr. Kishore Biyani, chairman and managing director of the company, has said.
Talking to reporters on the sidelines of a store launch in Kolkata, Mr. Biyani said the company is expecting around 10 percent growth in revenue in the ongoing financial year 2013-14, and the total turnover is likely to touch Rs. 110 billion. This will increase to Rs. 130 billion in 2014-15, he added.
Future Retail, the flagship company of Future Group, currently has 165 Big Bazaar stores that together boast of more than nine million sq ft of retail space.
The company is planning to open 35 new Big Bazaar stores across India over the next 18 months, which would add another one million sq ft of retail space under its umbrella.
Future Group’s retail formats connect over 300 million customers to over 30,000 small, medium and large enterprises that supply products and services to its retail chains.
For the quarter ending September 2013, Future Retail posted a total income of Rs. 19.54 billion, compared to Rs. 18.35 billion for quarter ended September 2012, marking a growth of 6.5 percent. The company posted an EBIDTA of Rs. 1.73 billion for quarter ended September 2013, compared to Rs. 1.45 billion, marking a growth of 19.1 percent.