Spencer's plans 16-20 hyper stores in FY16

CESC Ltd's retail arm Spencer's Retail aims to open 16-20 new large format stores or hypermarkets nationwide by end of March 2016.
"We will be adding nearly 350,000 sq ft retail space by FY16, sector head, Spencer's Retail Sashwant Goenka said.
Spencer's currently operates 125 stores across 36 cities in the country, covering a total retail space of over 1.05 million sq-ft, he said.
Of this, 34 stores are large format outlets covering an area of at least 18000 sq ft each, where as the remaining outlets are smaller ones with an average area of 10,000-12,000 sq-ft per store, Goenka said.

"We are planning to open 4-5 hyper stores in the current quarter (Jan-Mar 2015) and the remaining 12-15 stores will be opened in the next financial year 2015-16," he said.
Capital expenditure is pegged at around Rs 3-5 crore per store, he said.
Spencer's Retail's revenue per sq ft in July-September stood at Rs 1,362 as against around Rs 1,300 in the corresponding period a year ago, he said.
Spencer's will announce demerger plan soon as it reaches breakeven, the company officials had said.