January 23, 2010
Spencer's Retail Ltd, a 100 per cent subsidiary of CESC Ltd, expects to break even by 2011. Spencer's is making losses, but they are declining over time, as per Sanjiv Goenka Vice-Chairman, CESC Ltd.
"We intend to break even by 2011," Goenka said, adding that the company is expecting a turnover of Rs 95 crore per month. He said the company is also in talks with private equity players to raise funds, but nothing has been finalised as of now.