Indiamart aims to facilitate biz worth Rs 30,000 cr in FY16
The company claims that over 2.5 crore products from about 15 lakh suppliers from across 200 cities in India have been listed and about 1.5 crore buyers visit its platform.
August 02, 2015 / 04:48 PM IST
Online marketplace Indiamart expects value of deals facilitated through its platform to grow by about 33 per cent to Rs 30,000 crore for its SME partners by the end of 2015-16. "In the last financial year, we generated business of about Rs 20,000 crore for our SME partners. In 2015-16, we are looking at around Rs 30,000 crore of business for small and medium enterprises.
This is our estimate," IndiaMART.com CEO Dinesh Agarwal told PTI. The company claims that over 2.5 crore products from about 15 lakh suppliers from across 200 cities in India have been listed and about 1.5 crore buyers visit its platform. "Indiamart has over 85,000 paid customers.
We are targeting 1 lakh paid customers in this quarter," Agarwal, who is also the founder of the company, said. The company, which has received investment from Intel Capital and Bennett, Coleman and Company Limited, said that it will pump about Rs 35 crore in marketing activities this fiscal to tap business opportunity with large corporates. "We have been following a strategy of more buyers, more suppliers more business.
Last year we realised that now we should augment this with another strategy-- big buyer, big supplier, big business. Last month we spent Rs 8 crore on big buyer... programme on TV commercials alone.
Total budget for this year is 30-35 crore in advertising," he said. Talking about revenue of Indiamart, Agarwal said the company had a revenue of about Rs 200 crore in last fiscal and expects to cross Rs 300 crore this fiscal. "We are cash flow positive.
All our expansion is being funded by our Internet accruals. Our internal target this year is Rs 365 crore in 365 days. We are making effort for it but as per run rate we are confident of crossing Rs 300 crore for sure," he said.
Indiamart is focusing on increasing its presence in mobile commerce as well. "We already have close to 2 million plus downloads of our application on mobile phones. It is an unavoidable for any company and we are very serious for it," Agarwal said.