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HomeTown, the home solutions arm of Pantaloon Retail, is looking at a break-even this fiscal and a turnover of Rs 1,000 crore by FY ’12.
“Most of our stores are already EBITDA positive and we are eyeing a break-even at the company level this fiscal,” the HomeTown CEO, Mr Mahesh Shah, told PTI here today.
The Kishore Biyani group company, which currently operates 10 outlets in major metros, is eyeing a revenue of around Rs 1,000 crore by FY ’12.
Same-store sales have grown by 60 per cent year-on-year in the last three years and the growth is likely to hover around the same figures this fiscal, he said.
On expansion, Mr Shah said the company plans to add another 10 stores by the end of next fiscal at an investment of Rs 20-25 crore per store. The average store size of these stores would be around 1-1.5 lakh sq.ft.
Besides, the CEO said the company is contemplating opening newer formats in the mid-segment for Tier II and III cities.
“We are looking at smaller formats and the plan is to open about 50 such stores in the next 2-3 years. These will be much smaller in size at 20,000 sq.ft. per store. These stores would be named either HomeTown Zip or HomeTown Local,” he said.
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