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Cell Point, a mobile phone retail chain, is planning to expand to Uttar Pradesh and Bihar, the two States which are relatively not covered by organised players. The company runs 67 stores, all owned by the firm, in Andhra Pradesh and Telangana.
“We are planning to 80 more stores in the next one year to cross the 150-mark by the end of 2014-15. We would like to cover the important towns in Andhra Pradesh and Telangana , before expanding to the untapped potential in Uttar Pradesh and Bihar,” Mohan Prasad P, Managing Director of Cell Point India (Private) Limited told Business Line.
The family-run enterprise has not taken any funds from private equity firms. The firm, which has registered a turnover of ₹ 120 crore in 2013-14, is targeting to reach ₹ 200 crore in this financial year.
Justifying the target, he said the increasing demand for smart phones and expanded network of stores would help the company reach the target.
Asked about plans to tap PE funds for expansion, he said it could generate funds internally and from its banker IDBI.
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