Eyes record net revenue of ₹750 crore in 2019
Mumbai, June 13, 2018: PE firm Carpediem Advisors-backed Nysaa Retail, which operates a retail chain under the brand name ‘1-India Family Mart’, plans to open another 100 stores in the next two financial years. The New Delhi-based company will invest about ₹200 crore for the proposed expansion.
At present, Nysaa Retail has 56 mid-sized retail stores in tier-II/III cities across Eastern and Northern India.
“The plan is to expand and accumulate about 12 lakh sq ft of retail space by 2020 from the present 4.25 lakh sq ft. Following the opening of the new stores, we expect to record net revenue of about ₹750 crore in 2019, which will further increase to ₹900-1,000 crore by 2020,” Jay Prakash Shukla, founder and Chief Executive Officer, 1-India Family Mart according to thehindubusinessline.com.
About 50 per cent of the total investment required will be raked in through internal accruals and the remaining through debt, he added.
At present, the company has 56 stores across Uttar Pradesh, Bihar, Jharkhand, Chhattisgarh and the North-East. For fiscal 2018, the company recorded a net sales of ₹235 crore compared with ₹147.5 crore posted in the previous financial year.
The bootstrapped company, led by entrepreneurs Jay Prakash Shukla and Ravinder Singh, began operations in October 2013. In its first external funding, Nysaa raised ₹42.5 crore from Carpediem Advisors in December 2017.
The company is also looking for strategic acquisitions, for which it already has approvals in place, and is scouting for firms with a “right fit”.
1-India Family Mart also uses Big Data to analyse customers’ buying habits and trends. So far, data from 35 stores are being used to predict customer behaviours, and now the retail firm intends to use data from its other stores too.
The country’s retail sector contributes to about 10 per cent of the country’s GDP.