Future Group eyes Rs 20,000 cr revenue this year

Retail major Future Group expects to clock revenue of Rs 20,000 crore this year and be present in over 300 cities and towns in the next five years, a top official said today.

"The idea in the next five years is to be present in 300 odd towns and cities. And with these 300 towns, we will be capable to serve close to about 6,500 pin codes," Future Group's Joint Managing Director Rakesh Biyani told reporters here.

"It is about opening 20 to 30 stores every year in each of the format. At group level this year the revenues are expected to be on the higher side of 20,000 crore," said Biyani, who was speaking on the sidelines of an interactive session organised by Ficci Ladies Organisation.

Replying to a query, he said Big Bazaar, one of the retail formats of the Group, has 200 odd stores now and another 15 to 30 will be added in the next three months.

He said despite the surge in online retailing activities, brick and mortar method is still strong in India.

According to him, the Group forays into Omni Channel system, where the online and offline channels of the retailer are connected on one platform.