Raymond sees Rs 11-12 bn retail revenue by FY10

Raymond Ltd expects retail revenue to rise by two-thirds in three years, as the company increases the number of its stores to 950, a top official said on Tuesday. "We want to be present in every small town in India. We intend to significantly accelerate our presence in tier two cities," Aniruddha Deshmukh, Raymond's president for retail and fast moving consumer goods, told reporters. He said Raymond expected revenue from its stores to rise to 11-12 billion rupees in 2009/10 from 7 billion in fiscal year to March 2007, while the number of stores would rise to 950 from 433. The company also plans to increase the number of its franchised stores in neighbouring South Asian countries and the Middle East to 40 from 28 over the same period, he said. Raymond's shares closed flat at 338 rupees in the Mumbai market.