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

Mumbai, Feb 8 (PTI) HomeTown, the home solutions arm ofPantaloon Retail, is looking at break-even this fiscal anda turnover of Rs 1,000-crore by FY 12, a top company officialsaid.

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

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

The Kishore Biyani group company, that currentlyoperates 10 outlets in major metros, is eyeing an around Rs1,000-crore revenue by FY 12.

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

On expansion, Shah said the company plans to add another10 stores by the end of next fiscal at an investment of Rs20-25-crore per store.

The average store size of these stores would be around1-1.5-lakh sq ft.

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

"We are looking at smaller formats and the plan is toopen about 50 such stores in the next 2-3 years. These will bemuch smaller in size at 20,000 sq ft per store. These storeswould be named either HomeTown Zip or HomeTown Local," Shahsaid.