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– Kamal Narang

Mr Sunil Bharti Mittal (left), Chairman & Group CEO, Bharti Enterprises, and Mr Rajan Bharti Mittal, Vice-Chairman and Managing Director, at a press conference, in the Capital on Monday.

Our Bureau

New Delhi, Nov. 3 Sunil Mittal-owned Bharti Enterprises on Monday said that it will become a conglomerate with revenues of $10 billion by 2010.

Bharti Enterprises is the holding company of Mr Mittal’s various businesses including telecom, retail, insurance and agriculture. The group, with revenue of about $8.5 billion at present, unveiled a new strategic vision and brand identity aimed at building Bharti into India’s finest conglomerate by 2020.

Unveiling the new brand identity Mr Sunil Bharti Mittal, Chairman and Group CEO, Bharti Enterprises, said, “At Bharti, we have always believed in undertaking transformational projects that have a positive impact on society and contribute to the nation building process. We have demonstrated this philosophy by leading India’s telecom success story, with entrepreneurial spirit, innovation, and strong partnerships being the pillars of our growth. Having diversified into new businesses in agriculture, financial services and retail business with world-class partners, we have laid the foundation for building a conglomerate of future which will achieve $10 billion in revenues by 2010.”

He said that the company would like to replicate the success in its telecom business in Bharti Airtel, to build its business in the areas of retail, financial services and agriculture. Mr Rajan Mittal, Managing Director, said there was no slow down in retail expansion plans and its first medium-sized store will open in December. Bharti, which runs its retail business through a company called Bharti Retail Pvt Ltd, now operates about 10 small-sized stores.

It also has a joint venture, Bharti Wal-Mart Private Ltd, with Wal-Mart Stores Inc for wholesale cash-and-carry and back-end supply chain management operations in India. Mr Rajan Mittal said the first store under its joint venture with Wal-Mart will open in the first quarter of 2009. The Group also unveiled a new brand logo.

More Stories on : Outlook | Brands | Telecommunications | Bharti Tele-Ventures Ltd

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