Birla mulls expansion of retail biz

Dec 25, 2010 |

Correspondent

Aditya Birla Retail (ABRL) that operates supermarkets and hypermarket formats under the ‘More’ brand, said it is eyeing a break-even at the company level by financial year 2014-15. The retail major is also looking at scaling up its supermarket and hypermarket chain to 1,300 and 65, respectively by 2016. Currently it runs 540 supermarts and nine hypermarkets across the country. “We are hoping to be PAT positive by FY15 at the company level. We see EBIDTA break-even by 2013. However, most of our stores are already profitable and the new stores will be profitable in 15-20 months,” ABRL CEO Mr Thomas Varghese told PTI.
He said said the company will invest `18-20 crore in hypermarkets every year.

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