By the end of the current financial year, Shrikhande expects the operating profit
at the store level to double, while, at the company level, he expects it to turn positive. In the first quarter of the 2017-18 financial year, HyperCity’s operating profit
at the store level stood at Rs 6.9 crore, while it was at a negative of Rs 6.23 crore at the company level. In the same financial quarter, its net loss stood at Rs 26.6 crore.
It has brought down the total space in HyperCity
from the previous 1.5 million square feet to 1.3 million square feet.
Shoppers Stop has invested Rs 800 crore in HyperCity
over the past 11 years, but its accumulated losses from the business stands at Rs 400 crore.
Around 65 per cent of the business from HyperCity
comes from the foods portfolio, with garments accounting for 16-17 per cent. The rest comes from other products.