Stonex India eyes Rs 500 cr revenue in next 2 years

Riding high on the growing demand for high-end marble flooring in luxury residential and commercial space, imported marble company, Stonex India is eyeing to double its revenues to Rs 500 crore in the next two years.
It is also planning to launch 10 stores in the next two years to cater to all the five regions of India, including north, south, east, west and central, for selling its products.
"There is a huge demand for imported marble especially in the luxury residential, commercial and office space segments. We hope to double our revenues to nearly Rs 500 crore over the next two years," Stonex Director Gaurav Agarwal told PTI here today.

The company imports the natural stones largely from European countries and processes them at Kishangarh in Rajasthan.
Stonex currently supplies its products from Krishnagarh and its distribution outlet in Delhi. "But now we want to have our own stores which will cater to the growing demand across the five regions," he said.
The company is planning to open 10 stores in the next two years.

"In the first phase, we plan to open stores in locations like Ludhiana, Ahmedabad, Indore, Guwahati and Mumbai. We have also identified locations like Hyderabad, Bengaluru, Kochi or Coimbatore, Bhubaneshwar for the second phase of this plan," Agarwal said.

He said the company is also eyeing a 10 per cent share in the imported marble market in India, which is around Rs 5,000 crore, and is expected to grow to nearly Rs 25,000 crore in the next 10 years.
"With a revenue target of Rs 500 crore, we hope to achieve a market share of nearly 10 per cent in the next two years," Agarwal added.