Rs 10 crores investment for offline expansion
20-25 offline stores to be opened
Over 250 professionals to be hired
Stage set for moving to NSE main board
Nandani Creation Limited, leading women ethnic wear company known and identified by its E-commerce and retail apparel brand ‘JaipurKurti.com’ in a major move has announced that it is planning to invest Rs 10 crores appx. for offline expansion.
Further, eyeing the next phase of expansion, the NSE-listed fashion giant, is geared up to take the count of its stores total to 20-25 by the end of the year 2023; 2 offline stores have already been opened in the past few months.
Key cities in the state of Rajasthan have already been finalised for the offline expansion of Nandani Creation Limited. These cities are Kota, Sikar, Jodhpur, Udaipur, Bhilwara, Ganganagar, Neemrana and Alwar. Moreover, for the Financial Year 2022-23, Nandani Creation Limited will be strongly focussing on big cities like Pune, Gurgaon, Indore and Delhi as well.
Also, to give the final shape to the expansion plans and offer the best experience to its customers, Nandani Creation Limited will be hiring more than 250 professionals. These individuals will be hired under the domains of logistics, ground staff, designing, production, sales, marketing and other relevant departments.
Moreover, in yet another boost, Nandani Creation Limited is in the process of moving to the main board of NSE. The development is expected to be very soon.
Commenting on the plans of hiring and expansion, Anuj Mundhra, Chairman & MD of Nandani Creation Limited, said, “It gives us immense pleasure and happiness when we see local brand like ours going places across the globe. Now, with further expansion and hiring, we at Nandani Creation are geared to perform even better and offer the best of the best of the fashion industry to our customers. Offine expansion plans have already taken shape in some cities and are under process for many other important cities. Now, customers can physically experience the excellent quality that we offer, even before they buy their loved brand.”
“Moreover, we are quite excited to move to the main board of NSE; which is likely to happen very soon. At this stage, we thank our customer base, stakeholders, and well-wishers for their continued support in making our company a big brand,” adds Anuj Mundhra.
Earlier, Nandani Creation Limited in the meeting of its Board of Directors had approved the yearly FY 2020-21 financial results. In FY 2020-21, on a standalone basis, the Nandani Creation Limited’s Total Revenue, Profit Before Tax (PBT) and Profit After Tax (PAT) stood at Rs 4609.48 lakhs, Rs 241.68 lakhs, Rs 178.01 lakhs respectively. However, on a consolidated basis, Nandani Creation Limited’s Total Revenue, Profit Before Tax (PBT) and Profit After Tax (PAT) stood at Rs 4826.52 lakhs, Rs 258.08 lakhs, Rs 190.43 lakhs respectively for the FY 2020-21.
