Bombay Dyeing shifts focus to real estate, retail

10068 Investors following Bombay Dyeing. Share this News with them.

0

Like this story, share it with millions of investors on M3

Bombay Dyeing shifts focus to real estate, retail

CNBC-TV18’s Tanvi Shukla reports that Jeh Wadia, the joint Managing Director of Bombay Dyeing plans to focus on real estate and de-focusing from textiles and focusing more on retail part of the business.

Post your opinion here

 

0

Tweet

Share on Tumblr

Excerpts from What's Hot on CNBC-TV18 Watch the full show » Bombay Dyeing BSE | NSE 31/05/12 Are Mutual Funds betting on Bombay Dyeing?

Project ' Bombay Dyeing Makeover' has begun under the leadership of Jeh Wadia, the man behind Wadia group's successful aviation business. CNBC-TV18's Tanvi Shukla reports that the two key takeaways from the first annual general meeting (AGM) after Jeh Wadia took over as joint Managing Director of Bombay Dyeing is one, their focus on real estate and two, de-focusing from textiles and focusing more on retail part of the business.

To begin with, real estate is something that management has been talking about. Today they updated the shareholders that construction work has finally begun at the Dadar Spring Mill project. They are also going to be developing the Worli property.

In an interview Wadia says that high interest rates will put pressure on people buying apartments. "But fortunately for us we don't have very high volumes, we have low volumes. Also, we are in the luxury end of the spectrum. So I don't see much of a shortage as far as sales are concerned" he added.

Talking about the Group's retail business, Wadia said that the company will now focus on opening more number of stores and introducing higher value added products. He aims at an entire revamp of the retail business, which would probably give them higher margin profitability, something that they haven't really seen in the textile business for quite a while.

So Bombay Dyeing seems to be shifting from a textile giant to a company whose core focus will now be in real estate and in retail.