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Arvind aims for 25% revenue growth
19
Aug '10
Mr Sanjay Lalbhai
Mr Sanjay Lalbhai
Riding on the back of retail B-to-C (business to customer) business in the local market, textile major Arvind Ltd aims to attain a turnover worth Rs. 40 billion this fiscal, according to a top official of the company.

Sanjay Lalbhai, Chairman and Managing Director of Arvind Ltd said that the company's turnover for last fiscal stood at Rs. 32 billion. For this fiscal year the company aims to attain a turnover of Rs. 40 billion, which is inclusive of Rs. 10 million worth revenues from real estate.

According to him, the Arvind Group eyes revenue worth Rs. 8.5 million in the next three years from its real estate projects in Gujarat. Lalbhai, who gave an official announcement regarding the launch of first Arvind retail outlet “Arvind Store” in Hyderabad, remarked that only brands and retail would lead to growth.

He also told the media that there are chances of forex losses, due to the existence and growth of exports in the international market. Also that, the company highly values the growth in the retail as well as in the branded segments of the domestic market, as this would dilute the chances of incurring exchange risk, considering that the company has a comparative pricing benefit in the retail market.

The Chairman of the Group said that over the next two years they plan to launch 20 Arvind outlets in Andhra Pradesh and near about 100 across the country. Also that, the Group targets to generate revenue worth Rs.2 million from Arvind outlets over a period of next three years.

He further added that the Group possesses several plots in Ahmedabad and expects to generate revenue worth Rs.1 billion in this financial year and Rs.2.5 million in 2011-12 and Rs.5 million in 2012-13 respectively.

Fibre2fashion News Desk - India

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