The Hindu Business Line : Future Group may hive off Big Bazaar

New Delhi, Jan. 11 The Future Group has said that it is considering hiving off Big Bazaar, the largest retail chain of the group, into a separate company.

“We are looking at various possibilities to hive off Big Bazaar and the decision would be taken very soon. The proposal is at a very initial stage and the decision has to be taken to the board,” the Future Group CEO, Mr Kishore Biyani, told reporters here.

According to him Big Bazaar emerged as the largest retail format of Future Group’s Pantaloon Retail India Ltd (PRIL) and the time has come to look at the business separately.

“The move would help the group raise money for Big Bazaar, besides enabling it to continue expanding the network. However, the new entity would not be listed immediately,” Mr Biyani added.

Speaking on the revenue targets for the Group, he said that the company expects to achieve a turnover of about $7 to 8 billion by 2011. “For the current financial year, we expect the Group’s revenue to be around $ 2 billion,” Mr Biyani said.

He also said that the floor area of the stores would reach 30 million sq ft against 10-11 million sq ft at present.

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