Eyes 60% growth in retailing business from the city next fiscal
The Future Group has been exploring opportunities to invest on a facility for readymade garments in Telangana.
“We are looking at how can we get into garmenting facilities here in Telangana,” Future Group CEO Biyani said.
The Group, whose core activity is retail, is in talks with the State government. It is, however, early to discuss the investment and other details of the project, sources in the company added. Mr. Biyani was interacting with the presspersons at the launch of Golden Harvest Sona Masoori rice by Group’s FMCG firm Future Consumer Ltd.
On the occasion, a television commercial for the new product made by actor Rana Daggubati was unveiled. The FMCG firm already has a host of other products under the Rs. 1,200-crore Golden Harvest brand, a list that comprises staples, spices, and dry fruits.
The Sona Masoori rice, its new addition, is available in six variants and expected to generate Rs. 250 crore revenue in the next fiscal. While the rice would be marketed under the Golden Harvest in south India, the company intends to take the same under Shubhra brand to the rest of the country, especially the parts where Basmati rice is preferred.
To queries on the Group revenues, he said it would be around Rs. 30,000 crore this fiscal and expected to grow to Rs. 40,000 crore the next financial year. By 2021, the Group is eying revenues of Rs. 1 lakh crore.
Hyderabad, he said, was expected to remain a major market for Future Group, already contributing to Rs. 2,500-crore revenues. It is expected to increase to Rs. 4,000 crore in 2018-19. On his experience as an ad maker, Mr. Daggubati said, “The TVC will always be special because it brought me back into telling short form content… any story on food and family is always fun to tell.”
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