HomeTown eyes Rs 1,000 cr revenue by FY12

HomeTown, the home solutions arm of Pantaloon Retail, is keen to achieve break-even this fiscal and ramp up its turnover to Rs 1,000 crore by FY'12, a top company official said.

HomeTown is a first-of-its-kind home improvement retail chain in India that provides one-stop home-furnishing solutions.

"Most of our stores are already EBITDA-positive and we are eyeing break-even at the company level this fiscal," HomeTown CEO Mahesh Shah told PTI here today.

The Kishore Biyani group company, which currently operates 10 outlets in major metros, is eyeing a revenue of around Rs 1,000 crore by FY'12.

Sales for the company have grown by 60% y-o-y over the last three-years and are likely to expand at the same pace this fiscal, he said.

On expansion, Shah said the company plans to add another 10 stores by the end of next fiscal at an investment of Rs 20-25 crore per store.

The average store size of these stores would be around 1 lakh sq ft to 1.5 lakh sq ft.

Shah said the company is also contemplating opening smaller format stores in tier-II and III cities.

"We are looking at smaller formats and the plan is to open about 50 such stores in the next 2-3 years. These will be much smaller in size, at 20,000 sq ft per store. These stores would be named either HomeTown Zip or HomeTown Local," Shah said.