 "BigBasket.com expects to break-even in 36 months")
The company expects to clock Rs 1,800 crore turnover by 2016-17, said Hari Menon, CEO of BigBasket.com, who had launched its services in Chennai.
The online retailer expects to end the current fiscal with a turnover of Rs 250 crore. For the next two fiscal years, it is targeting an increased turnover of Rs 800 crore and Rs 1800 crore, respectively, relying on the huge market potential, said Menon.
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In the process, it hopes to achieve operations-level breakeven in the next three years.
The company has a same-day order delivery in cities such as Bangalore, Mumbai, Hyderabad and Pune and had launched operations in Chennai by setting up a central warehouse and processing centre in the city.
Menon said at the city level they would achieve business breakeven much earlier than anticipated.
It has an over 10,000 product range, including fresh fruits and vegetables, grocery and staples, personal care, home and kitchen products. Prices are fixed similar to the brick-and-mortar shops or slightly lower.
It is expected to launch its services in the National Capital Region this month, followed by Kolkata in the later part of the calendar year.
The company claims it had a customer base of more than 450,000 with a monthly order growth rate of more than 30 per cent. It is also looking at launching a data analysis business, Brand Intelligence, to offer information related to customer trends related to brands.
BigBasket.com had raised around Rs 400 crore in three rounds of funding, including from Ascent Capital, Helion Venture Partners, Zodius Capital and Bessemer Venture Partners.