New Delhi: SRS Value Bazaar plans to invest Rs200 crore in next five years to expand its sales network by adding 100 stores taking its total count to around 150.
The Delhi-based company is expecting a sales turnover of Rs600 crore in next four to five years based on expansion of its sales network. “We would invest around Rs200 crore towards expansion. We would add around 100 stores and are expecting to have 150 stores by FY 2020-21,” SRS Group president and chief strategy officer Tinku Singh told PTI.
He further added: “In four to five years time we would be roughly looking around 150 stores, which should convert into (sales of) somewhere around Rs600 crore.” The company, which is growing at 15% every year, had a turnover of around Rs210 crore in 2015-16 from both online and offline format.
“This year (fiscal) we are expecting to be around Rs230 to Rs240 crore,” he added. According to Singh, out of 150 stores around 120 stores would be in company-owned-company operated format and rest 30 would be on the franchise model.
“NCR would be one of the area. We are now also looking other areas and going towards South, Central, East and West regions for the growth,” he added. Over funding of the expansion, he said that it would be a mix of internal accruals and debt from consortium’s.
“It would be all mix depending on the business growth. Some would come from business growth, internal accruals and then we have also consortium to support us,” he added. At present, SRS Value Bazaar operates around 50 stores mostly in the NCR region.