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Future Group targets $three billion turnover by 2011

Kolkata, Feb 22 (Calcutta Tube) India’s leading retail conglomerate Future group targets a turnover of $3 billion by 2011 from the current $2 billion, a top company official said here Monday.

‘We are aiming at a turnover of $3 billion by 2011,’ Future group’s chief executive officer Kishore Biyani said at an interactive session after inaugurating the Sealdah commercial complex — a joint initiative by Keventer group and Future in association with the Kolkata Metropolitan Development Authority (KMDA).

He said: ‘We are also increasing the total space from the current 14 million sq. ft to 17 million sq ft by the same corresponding period.’

‘We expect about 55 percent of this total targeted revenue ($3 billion) would come from our entire retail operations.’

Expressing his willingness to open more number of stores in Kolkata and other Indian cities, Biyani said that Future group would have two central outlets in Kolkata in the next 3-4 years. He said the company has already started scouting for new properties at prime locations in the city.

‘We have been looking for good locations in Kolkata for past three years. As of now, nothing is happening. But Kolkata has to have a central outlet,’ he said, adding the Future group at present has its central outlets in 10 different cities across the country.

Biyani said his company was also interested to set up stores in the railways’ commercial complex.

‘We would love to work with the Indian Railways. We’d tried earlier also but the deals didn’t materialise.’

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