Trinethra lines up Rs 100cr for expansion

Trinethra Super Retail Limited (TSRL), a Hyderabad-based retail marketing chain, will invest Rs 100 crore over the next two years in order to expand business and open more outlets in south Indian states.

Pranab Barua, chief executive officer of the company, said that the number of retail outlets would be increased to 205 by the end of current fiscal from the existing 170.

Addressing a press conference here today, he said that the number of outlets in Andhra Pradesh would be increased to 90 from the present 73 and 50 would be opened in Karnataka. In Tamil Nadu, TSRL will open 40 retail shops and Kerala will have 25 by the end of 2006-07.

The first outlet in Kerala will be opened at Fort Cochin on Thursday. The company, that earned a total turnover of Rs 240 crore in 2005-06, has targeted Rs 360 crore by March 2007 and Rs 650 -700 crore by FY2007-08.

"Our aim is to become the largest chain supermarket in south India by 2008 and now we are implementing an expansion plan to achieve the target. We are not catering to north Indian market currently since we target a consolidated top spot in south India," Barua added.

As part of the four-line strategy of shops, the company will open 4-5 hyper markets in southern states and the first of its kind will be opened in Mysore in December.

Hyper markets will provide almost all products under one roof.