NEW DELHI: Fitness First, the global health club chain operator, plans to invest about 20 million pounds (Rs 172 crore approximately) in the next three years for the opening up of 15-20 such clubs in India.
UK-based Fitness First, which operates 500 health clubs in 17 nations, will be making its debut in India, starting with the first facility expected to come up in Gurgaon, Haryana by September.
According to Vikram Aditya Bhatia, Managing Director of the company, “We will be posting a revenue of Rs 4,600 crore and profit of Rs 900 crore in 2006. Employee strength in India would be to the tune of 50 employees per club, which translates into having new employment opportunities for nearly 1,000 people over the next 2-3 years.
Elaborating on the India plan, Bhatia said: “Delhi would see about three fitness clubs by 2007 followed by Delhi, Mumbai,Pune, Bangalore, Chandigarh, Hyderabad and entire Northindia.
“We are talking to developers for having well designated spaces in places where public visibility and access is high,like malls, office complexes and IT parks and consultant CB Richard Ellis are helping us in finding the property on lease,” Bhatia said.
He said the company wanted to build more clubs but the biggest constraint was the cost of real estate. “We are a valued tenant and are looking for realistic rentals for the space we require on lease,” he added.