Nilkamal to invest Rs 150 cr by 2010; targets 50 '@home' stores

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New Delhi, Apr 25 (UNI) Plastic moulded furniture maker Nilkamal Ltd today said it will invest Rs 150 crore over the next three years to become a market leader in the retail space through its '@home' brand and is targeting 50 such flagship stores by 2010.

The company currently has 13 '@home' stores, which showcase coordinated furniture for the bedrooms and living rooms as well as home accessories, with each store having an average size of 22,000 square feet.

''With our next (14th) store in Faridabad, to be inaugurated tomorrow, the company has covered 11 cities in a span of 34 months. We are targeting a revenue of Rs 806.9 crores by 2012 with an investment of Rs 150 crores in the next three years'' company Director Manish V Parekh told reporters.

The company has a tie up with ICICI to provide personal loans and targeting a 10 per cent market share by 2010 in the organised retail industry through '@home' brand, Mr Parekh added.

The '@home' stores also has skilled in-house team of designers to assist customers with their interior planning solutions with proprietary 3-D imaging software totally free of cost.

The company has 13 '@home' stores across the country in Mumbai, Bangalore, Chennai, Hyderabad, Pune, Nashik, Ahmedabad, Ghaziabad, Coimbatore and Surat.

Nilkamal Ltd is a Rs 890 crore listed company having 10 production units and 35 Branch offices across India. It is the world's largest manufacturer of moulded furniture and country's leading manufacturer of Material Handling Systems.

UNI BJR MP PM1730

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