Textile major Arvind is targeting a Rs 4,000-crore turnover this financial year, driven by B-to-C (business to customer) retail business in the domestic market, a top executive said today.
The company reported a turnover of Rs 3,200 crore last year. In the current fiscal, it is aiming a turnover of Rs 4,000 crore, including Rs 100-crore income from real estate, said Sanjay Lalbhai chairman and managing director Arvind.
The Ahmedabad-based group expects Rs 850-crore income from its various real estate projects in Gujarat over the next three years, he said.
Lalbhai, who announced the launch of first retail outlet here, Arvind Store, said growth will also come from brands and retails.
"With the export market we have the risk of running into forex losses. We give high importance to the domestic growth in both retail and branded segment. It will cover the risk of running exchange risk as we have the pricing advantage in the retail market," he later told media persons.
Lalbhai said they intend to open 20 Arvind Stores in Andhra Pradesh alone and around 100 all over India in the next two years. "We hope to get Rs 200 crore revenues from Arvind Stores over the next three years."
Lalbhai said they have a large land bank in Ahmadabad and expect Rs 100 crore income this year from that and around Rs 250 crore next year and Rs 500 crore in 2012-13.