Talwalkars, the health and fitness centre chain, says the deal will cut the cost of setting up or acquiring a gym by 35-40 percent.
Talwalkars would have done better in the third quarter if it was not for demonetisation, says CFO & Wholetime Director Anant Gawande, adding, around 3-4 percent growth was lost.
"In some gyms we have hiked price for about 4.5-5 percent. The biggest move is we have opened 20 gyms on one day in Bengaluru. You will see a little inching up of the topline", Anant Gawande, CFO & Wholetime Director of Talwalkars told CNBC-TV18.
Talwalkars Fitness will continue to focus on improving geographical presence say MD Prashant Talwalkar and CFO & Whole-time Director Anant Gawande in an interview to CNBC-TV18.
Talwalkars plans to acquire local gyms to facilitate deeper penetration and enhance presence in new cities says CFO and Wholetime Director Anant Gawande.
Equity Intelligence India [PMS] bought 2,08,679 (representing 0.7 percent of total paid up equity) of the company at Rs 196.96 apiece through a block deal on Tuesday.
Speaking to CNBC-TV18, Anant Gawande, CFO and Wholetime Director at Talwalkars said that he expects a 12-14 percent contribution to net profit from the business in Sri Lanka and a 26-27 percent return on capital from investments in Power World.
The number of gyms for the company would move from 170 to 250-300 over next three years, said Anant Gawande, CFO & Wholetime Director of Talwalkars.
Speaking to CNBC-TV18, Anant Gawande, chief financial officer, Talwalkars says the occupancy rates are the highest in first 15 days of the year and most renewals too take place in the same month.
Anant Gawande, CFO, Talwalkars in an interview to CNBC-TV18 spoke in detail about their plans to acquire ‘Inshape Health and Fitnez‘. The company plans to acquire 51 percent stake from the promoters in an all cash deal.
Talwalkars‘ Annual August Scheme contributes 35 percent to the annual turnover and excess of 40 percent of the annual profits, says Anant Gawande, CFO and Wholetime Director of the company.
Anant Gawande, CFO & Wholetime Director of Talwalkars said David Lloyd is a leading club company in the world and it has technology and brand name which will help Talwalkars establish its presence in a major way in India.
Speaking to CNBC-TV18, Anant Gawande, chief financial officer and wholetime director, Talwalkars, says the new value added services are being lapped up by customers and Zumba, specifically is likely to be the gym chains‘ focus area going ahead.
For the first time since initial public offering (IPO), Talwalkars has become net cash flow positive. During the quarter gone by, it also managed to pare down its deby by 7-8 percent and .
Breaking away from the traditional gym framework, Talwalkars has added Zumba, a dance fitness regime and Reduce, a diet program to its offerings.
Anant Gawande, CFO & Whole Time Director, Talwalkars told CNBC-TV18 that this year it will start between 25-30 gyms.
With an eye on better earnings performance ahead, the fitness centre is introducing new products and ideas to help customers utilise more facilities.
Anant Gawande, CFO, Talwalkars Better Value Fitness is confident of maintaining the growth trajectory seen in the last 9 months.
Health club operator Talwalkars Better Value Fitness has joined hands with UK's David Lloyd Leisure to expand into leisure and sports clubs in India.
In an interview to CNBC-TV18, Anant Gawande the CFO of Talwalkars ‘Better Value Fitness‘ talks about how they made a good set of profit numbers this quarter.
Anant Gawande, CFO of Talwalkars said the company's performance has been encouraging in the first quarter of FY13. Looking at the good responses to new initiatives, Talwalkars is hoping to maintain 35% sales growth in the current fiscal.
Anant Gawande, CFO, Talwalkars Better Value Fitness told CNBC-TV18 that finacial year 2013 has started on a positive note for the company. Its topline grew 30% and bottonline 48% last year and it is confident of maintaining the company's grwoth rate at 30-35%.
Talwalkars Better Value Fitness saw a 24% year-on-year growth in net profit, coming in at Rs.2.01 crore. In an exclusive interview with CNBC-TV18, Anant Gawande, chief financial officer said that the company witnessed a small decline in PAT due to minority interest accounting.
Anant Gawande, CFO, Talwalkars Better Value Fitness in an interview with CNBC-TV18 spoke about the quarterly performance of the company.
In an interview with CNBC-TV18, Anant Gawande, CFO, Talwalkars, speaks about the results and gives his outlook going forward.