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Esser Hypermart expects Rs 9,000-cr biz in 2 yrs

Press Trust of India  |  Chennai 

Fully integrated carbon-steel manufacturer Essar Hypermart, part of Essar Steel, is expecting to clock Rs 9,000 crore business in the next two years, a top company official said here today.

The company, which is in expansion mode, had reported revenue of Rs 3,600 crore during 2009-10, Essar Hypermart Chief Executive Officer Girish Rao told reporters here.

As part of their future plans, they have decided to increase retail outlets from 520 to 776 units by March 2011. In Tamil Nadu alone, the company plans to increase it to 58 outlets from 44 outlets.

"Tamil Nadu has been and continues to be one of our premier markets. Being one of the most industrialised states and fastest growing economy, the growth of the SME sector in Tamil Nadu has been phenomenal. We plan to further expand our retail network in South," he said.

On their overseas operations, he said they plan to have presence in the SAARC nations and to set up a service centre in Dubai, catering the neighbouring markets.

The company recently began operations in Indonesia, he added.

First Published: Tue, November 16 2010. 19:43 IST