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Pennar Industries Limited has announced its plans to scale up the number of retail outlets for its branded building products ‘Build 360’ from 11 now to 42 by FY 2020. The company opened its first outlet in 2017 in Vijayawada and currently operates 11 stores in southern cities.
Encouraged by the response, the company is planning to ramp up the business by opening more stores. By FY2019, the company expects to add 6 more stores, taking the total store count to 17. In fiscal 2020, PIL has plans to set up 25 additional stores across Karnataka, Tamil Nadu and Telangana.
K M Sunil, Vice President, Corporate Strategy, PIL said, “Organised retailing of ready-to-use steel building products is on the rise. Customised value-added engineered products and building products retailing is an extension of our capabilities. PIL is working on a 5-year business plan of setting up 100 ‘Build360’ stores by FY2023.”
Currently, ‘Build360’ product range includes round and section pipes, sheets and plates special sections, structural steels, and accessories. Going forward, the stores will house third-party products such as TMT steel, paint, cement, wall putty, drill machines, agricultural tools, etc.
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