Intex eyes Rs 600 cr revenue by 2009

NEW DELHI,INDIA: IT hardware and electronics firm Intex Technologies said it is eyeing a revenue of Rs 600 crore by the end of 2009 through expansion of its retail, enterprise and mobile phone businesses.

The revenues of the company was at Rs 260 in 2006-07.

"We expect to close the year with a revenue of Rs 350 crore and touch Rs 600 crore by 2009," Intex Executive Vice Chairman Ramesh A Vaswani said, adding that retail, enterprise and the mobile phone business, launched last year, would drive the growth.

From the retail vertical alone, the firm expects revenues to the tune of Rs 25 crore by 2008, he added.

The company is planning to expand its retail presence by opening 200 shop-in-shops in the country by 2009. Currently, it has 95 shop-in-shops. The company follows a shop-in-shop concept and operates counters in retail stores.

"We will be investing Rs eight crore to fund the expansion of our retail outlets," he added.

Besides, the company is also looking at expanding other verticals in the country, including the enterprise business that includes supplying electronics and computers to government, PSUs and large private firms.

Source: Agencies