Essar Steel launches new steel outlets in MP

Essar Steel today announced its expansion plans in Madhya Pradesh for its exclusive steel showrooms, Hypermart and retail outlet, Expressmart. The company launched Hypermart in Govindpura and the Pithampur industrial area today. The company also plans to open more Hypermarts — exclusive one-stop shops for its steel products.

Essar Hypermarts, established in Gandhidham (Gujarat), are known for their exclusive steel products like sheets and bars. The company is also planning to launch TMT bars used in building construction.

The company operates its Hypermarts on a lease basis, while Expressmarts are retail franchisee stores. “We are planning to have at least 10 Hypermarts and 50 Expressmarts in the near future as Madhya Pradesh is a promising market. We are also planning to start customised services and make TMT steel bars available at these exclusive outlets,” Girish Rao, chief executive officer of the company, said here.

With its three-pronged strategy, “Sahi (Right) Price, Sahi Quality and Sahi Delivery,” the company is gearing up to tap industrial and rural consumers. “The auto industry in Pithampur (Indore) and the engineering industry in Govindpura (Bhopal) would prefer our products, as we offer the right price and delivery at home, too. In future, we may offer advisory services to our customers, too,” Rao said.

The company has sold 1.2 million tonnes of steel from its 92 Hypermarts and 400 Expressmarts across the country. “We are looking at 1.6 million tonnes of steel from these outlets and the number will go up to 500 soon,” he added.