Rediff India Abroad
 Rediff India Abroad Home  |  All the sections


The Web

India Abroad

Sign up today!

Get news updates:

Home > India > Business > PTI > Report

   Discuss   |      Email   |      Print   |   Get latest news on your desktop

Biyani hopes to do well this quarter

January 02, 2009 16:02 IST

Retail chains may be struggling in the face of the economic slowdown, but Kishore Biyani's Future Group seems to be buoyant in the New Year, expecting to do well in the quarter ending March 2009.

"I don't see a problem in this quarter. February and March are traditionally good months for us...and with interest rates coming down, we hope to do well (in the quarter)," Future Group chief executive officer Kishore Biyani told PTI.

With regard to Future Retail, Biyani said October and November were "two good months" for them in terms of sales. 

In December, it announced the three-week long Great Indian Shopping Festival, which would end on January 4.

"We have had requests to extend the shopping festival. We are thinking about it," he said. "Most formats have done well, save for the home segment," he said and attributed the reason to the realty sector having been through volatile times.

Overall, he termed quarter three as having done well, but did not give details on the sales clocked or a comparative view on performance year-on-year.

"We are trying to boost consumption. We are working on something else (on similar lines as the GISF). We have something lined up in February and March across all segments," he said but refused to reveal more.

The group has another shopping bonanza planned for January 26 as well, he said.  Retailers' Association of India had said retail players may cut prices keeping in line with the Centre's directive to tackle the demand-supply mismatch.

"There has been a reduction in prices everywhere. Even we have reduced prices," he said.

Global meltdown: Complete coverage

© Copyright 2008 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.

   Email   |      Print   |   Get latest news on your desktop