Central expects Rs 3,000 crore revenue by this fiscal-end

Central, a premium retail store chain of Future Lifestyle Fashions, is expecting to touch around Rs 3,000 crore topline by end of the current fiscal, an official said on Friday.

"This year, we will close at Rs 3,000 crore plus for Central. We will end the year with 47 stores. We are opening two more in Bangalore by March and plan to open around 6-7 stores every year," the retail chain's CEO Vishnu Prasad said at the launch of its second store 'Metro Central' in the city at the iconic heritage building which had housed Metro Cinema.

"Considering growth from our existing stores, our target is to grow at 15 per cent per annum. This is year-on-year basis from same store growth," he said.

These are large format stores measuring between 50,000 sq ft to 3,30,000 sq ft, he said, adding that at present there are 45 stores in 25 cities operating over 3 million sq ft of retail space across India.

Prasad remained optimistic about increasing the business in the brick and mortar model.

--IANS

bdc/prs