Sriram Paramount turnover up 38%

.Visakhapatnam-based Sriram Paramount Marketing Private Limited, which operates a chain of electronics and home appliances stores under 'Galaxy', posted 38 per cent growth in sales during the fiscal at Rs 18 crore, compared with Rs 13 crore last year. .

Attributing the growth in turnover to better aftersales service, K Haranadh, managing director, Sriram Paramount, said, "Despite a steep drop in prices of several electronic goods, our turnover increased by Rs 5 crore in 2006-07."

The company currently operates eight Galaxy showrooms in Visakhapatnam, Anakapalli and Bhimavaram of which four were opened in 2006-07.

Sriram plans to open 2-4 Galaxy showrooms in small towns like Srikakalum, Vizianagaram and Rajahmundry this year.

However, Haranadh says that the company closely observes the movements of big players like Reliance, who are planning to enter the electronics goods retail business. "If they are serious in this field, we may slow down our expansion plans and focus on consolidating the existing business," he said.