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| DCM Shriram eyes Rs 700 cr revenue from rural retail biz |
| Press Trust of India / New Delhi Jul 22, 2009, 16:22 IST |
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Diversified group DCM Shriram Consolidated (DSCL) aims to achieve a revenue of Rs 700 crore from its rural retail business in this fiscal.
The Rs 3,500-crore group also plans to increase the number of its retail outlets -- Haryali Kisaan Bazaar -- to around 500 stores in the next two-three years.
"Haryali Kisaan Bazaar has seen a good growth and contributed to our improved performance this quarter. Going forward, we hope it will help significantly in company's growth... This fiscal, we expect it will touch a revenue of around Rs 700 crore," DCM Shriram Consolidated Chairman and Managing Director Ajay Shriram told PTI.
He said the retail business contributed around Rs 400 crore last fiscal and the company is currently working on consolidating its presence and improving efficiency.
"In the last two years, we have been able to open over 300 outlets across the country. We hope to add another 200 stores in the next two-three years and penetrate further in the South Indian markets," Shriram said.
"However, this year we will focus on increasing efficiency, improve our procurement mechanism, including our logistics, and aggressively promote our agri-products."
Haryali Kisaan Bazaar is present in eight states such as Madhya Pradesh and Maharashtra. It plans to tap the Southern markets and will enter states like Tamil Nadu and Karnataka.
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