Nahar Enterprises sets target of Rs 100 cr sales by March

Ludhiana-based Nahar Industrial Enterprises Ltd (NIEL) has planned to open 10 Cotton County outlets in Jammu & Kashmir by the end of this financial year while it has set a target of generating Rs 100 crore sales by March next year.

The Rs 700-crore NIEL is the country's one of the leading integrated textile companies engaged in spinning, weaving and manufacturing garments.

Cotton County has set a target of opening 250 outlets by 2008 and 1,000 by 2010. The company is expecting a 300 per cent jump in sales as compared to last year's figure.

The company opened its 154th outlet at Gandhinagar in Jammu yesterday. It was inaugurated by Minister for Health and Medical Education Mangat Ram Sharma.

NIEL Group Vice-President Sachin Sahni, while talking to Business Standard, said the company was intending to open 10 such outlets in J&K by the end of this financial year.

He said two more showrooms/outlets were going to be opened shortly in Udhampur and Akhnoor while about three proposals had been received from Srinagar. He said Kashmir had good sale potential of garments.

Sahni said the company had no plans to export because it intended to consolidate in the country by opening a good number of outlets.

He said there were some proposals from Gulf countries and Canada and the company might export later. Sahni said the company generated Rs 27 crore last year and it had set a target of Rs 100 crore for this year. The group intends to further grow the Cotton County chain of ready-made garments.