Talwalkars Lifestyles Ltd (TLL) plans to invest Rs 400 crore over the next 3-4 years to expand the gym business.
It is also looking to foray into Bangladesh and Vietnam markets, a senior company official said.
Talwalkars Better Value Fitness Ltd (TBVFL) has demerged its entire gym vertical into Talwalkars Lifestyle, which got listed on bourses recently.
"The company will be investing Rs 400 crore over the next 3-4 years to expand its gym business. It plans to 300 fitness centres by this year end and 450 in 3 years period," TBVF CFO Anant Gawande told PTI here.
With 260 fitness centres across 84 cities across the country and Sri Lanka and active member base of over 200,000 members, the largest gym operator TLL looks at consolidating its position. TLL is the only gym company in the listed space in India, Gawande said.
The fitness business in the country is growing at 12-14 per cent per annum and the companys growth is estimated at 22-24 per cent per annum, he added.
Gawande pointed out that after successfully venturing into Sri Lanka, the company is now looking at entering into Bangladesh and Vietnam market with 10 fitness centres each in the initial phase. We are doing some amount of analysis of those areas.
Prashant Talwalkar, chairman of TLL said, "The gym business represents the foundation of our operations. The demerger has simplified our structure and enabled us to reorient our strategies towards producing long-term and sustainable growth. The gym business will now be appraised for its independent value."
The company, apart from growing the Talwalkars brand, is also witnessing encouraging growth from its Power World Gym brand, the largest gym chain in Sri Lanka and also one of the fastest growing value-based gym brands in India.
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