Betting big on food and consumer business, Future Group aims to clock a revenue of Rs 20,000 crore in this segment by the year 2021.
For the fiscal beginning next month, the home-grown retail giant is targetting a revenue of Rs 4,000 crore, followed by five-fold jump to Rs 20,000-crore in five years.
"We have a vision that we will grow (FCEL) to a Rs 20,000-crore business by 2021," Kishore Biyani, Founder and Chief Executive of Future Group, said here today.
"It comes with the ambition of the Group also, which has decided to open multiple stores.... 360 hyper-markets, 4,000 small stores. If we are able to do that, our food business alone on the retail side will be close to Rs 40,000 to Rs 45,000 crore," he added.
The Group currently has 27 brands under 64 categories.
These include food brands like Karmiq, Golden Harvest, Desi Atta, Fresh & Pure, Premium Harvest, Ektaa and Tasty Treat, among others.
The company has over 350 SKUs (stock keeping units) across its food and non-food brands, and Biyani said it will introduce about 1,000 such facilities by the end of the current fiscal.
FCEL recently raised Rs 360 crore from US food and agriculture giant Cargill's PE arm Black River.
"We are sufficiently funded, and will not need to raise more capital for another three to four years. We will consider raising debt if we need more funds," Biyani said.
The billionaire said the company will expand its manufacturing, as it has acquired 165 acres of land in Nagpur, and 65 acres in Kolkata where it is setting up food parks.
Future Group has also tied up with LT Foods, owner of the Daawat rice brand, for developing rice and rice products.
FCEL has already started a distribution pilot in Varanasi for its brand Tasty Treat, and targets a revenue of up to Rs 1,500 crore for the brand by 2021, he said.
"The company is currently in the process of evaluating different distribution models, and has appointed distributors in the general trade as a pilot project in Varanasi," he said.
The Group plans to sell its products in about 5,000 stores in Mumbai and targets their all-India launch in 18-20 months, he had said earlier.
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