Shopper's Stop lines up capex of Rs 125 cr for this fiscal

MUMBAI: Shopaholics have a reason to smile, K Raheja Group promoted Shopper's Stop has lined-up a capital expenditure (capex) of nearly Rs 125 crore to open about 12 stores this fiscal, a top company official said.

"We plan to open 8-12 stores this year and will invest about Rs 125 crore for the same. We will focus mainly on the metros we are already present in, besides some Tier II cities," Shopper's Stop's CEO, Govind Shrikhande, told reporters on the sidelines of the India Shopping Forum here today.

Currently, the company has 29 stores across the country, including the recent addition at Amritsar.

The new stores will come up in Bangalore, Delhi, Pune, Bhopal, Aurangabad, Vijaywada and Durgapur, Shrikhande said.

Shopper's Stop also expects a 20 per cent growth in revenue this fiscal. Its total turnover for the financial year ended March 31, 2010, stood at Rs 157 crore, up 12 per cent as compared to the previous year.