HomeTown eyes break-even this fiscal, Rs 1,000-cr rev by FY 12

MUMBAI: HomeTown, the home solutions arm of Pantaloon Retail, is looking at break-even this fiscal and a turnover of Rs 1,000-crore by FY 12, a top company official said.

HomeTown is a first-of-its-kind home improvement retail format in India that provides one-stop home-making solutions.

"Most of our stores are already EBITDA-positive and we are eyeing a break-even at company level this fiscal," HomeTown's CEO, Mahesh Shah, told PTI here on Tuesday.

The Kishore Biyani group company, that currently operates 10 outlets in major metros, is eyeing an around Rs 1,000-crore revenue by FY 12.

Same-store sales for the company has grown by 60% year-on-year in the last three-years and the growth is likely to hover around the same figure this fiscal, he said.

On expansion, Shah said the company plans to add another 10 stores by the end of next fiscal at an investment of Rs 20-25-crore per store.

The average store size of these stores would be around 1-1.5-lakh sq ft.

Besides, Shah said the company was contemplating opening newer formats in the mid-segment for Tier II and III cities.

"We are looking at smaller formats and the plan is to open about 50 such stores in the next 2-3 years. These will be much smaller in size at 20,000 sq ft per store. These stores would be named either HomeTown Zip or HomeTown Local," Shah said.