V2 Retail is up 250 percent in the last one year. The company has opened two more stores; one in Madhya Pradesh and other in Himachal Pradesh. In an interview to CNBC-TV18, Akash Agarwal, Director of V2 Retail spoke about new store opening and the latest happenings in the company.
In an interview to CNBC-TV18, Akash Agarwal, Director of V2 Retail spoke about the results and his outlook for the company.
V2 Retail posted a good set of earnings for this quarter with revenue up 31 percent and profit after tax (PAT) up by 87 percent. In an interview to CNBC-TV18, Akash Agarwal, Director of V2 Retail spoke about the company's performance.
Speaking to CNBC-TV18, Akash Agarwal of V2 Retail said that they have opened nine stores this fiscal and they will be adding seven more.
Vishal Retail slumps on debt concerns. The company expects to reduce the debt close to about 40% in this financial year, said chief executive officer Dinesh Malpani. he mentioned that Q3 will be somewhere close to the tune of about 15% growth over Q2 numbers.
RC Agarwal, chairman, Vishal Retail said, it would approach foreign retailers only when the final verdict on proposed 51% FDI in multi-brand retail comes in.
Vishal Retail is all set to repay their debts amounting Rs 30 crore and infuse a total sum of Rs 20 crore with a hopeful property sale. “The market price of the property is around Rs 50 crore.
In an interview with CNBC-TV18, RC Agarwal, Chairman, Vishal Retail said the company is opening nine V2 stores. “Out of nine stores, five will be open in Delhi and three in Himachal Pradesh and one in Jharkhand. These stores will start operation till July 15,” he added.
In an interview with CNBC-TV18, Arun Duggal of Shriram Capital said the acquisition provides large customer base to the company. "Shriram Capital will acquire the front-end business of Vishal Retail," he said.