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Venky's Xprs to invest Rs 250 crore

Venky’s Xprs, a retail food chain venture of Venky’s India, a wholly-owned subsidiary of Pune-based poultry major


November 01, 2011  |  comments ( 0 )  | 
Venky's Xprs to invest Rs 250 crore

 

Venky's Xprs to invest Rs 250 crore
Venky’s Xprs, a retail food chain venture of Venky’s India, a wholly-owned subsidiary of Pune-based poultry major Venkateshwara Hatcheries Group (VH Group), has recently opened its second outlet in Hyderabad. Further the company has also announced that it will open 100 Venky’s Xprs outlets across the country in the next three years. All the outlets would be company-owned. It has lined up Rs 250 crore to be spent on setting up these outlets and also a research and testing facility in Hyderabad over the next three years. “We will raise the money through internal accruals, banks and from financial institutions,” said B Venkatesh Rao, Managing Director, Venkys India. It expected a break-even for the new initiative in 15 months. The company had a technical agreement with Campden BRI of the United Kingdom to get food technologies. “We are going to procure birds directly from farmers that would be directly sent to the processing unit set up for the initiative. This will give better price for farmers irrespective of ups and downs in the market,” added Rao.

Venky’s Xprs, a retail food chain venture of Venky’s India, a wholly-owned subsidiary of Pune-based poultry major Venkateshwara Hatcheries Group (VH Group), has recently opened its second outlet in Hyderabad. Further the company has also announced that it will open 100 Venky’s Xprs outlets across the country in the next three years. All the outlets would be company-owned. It has lined up Rs 250 crore to be spent on setting up these outlets and also a research and testing facility in Hyderabad over the next three years. “We will raise the money through internal accruals, banks and from financial institutions,” said B Venkatesh Rao, Managing Director, Venkys India. It expected a break-even for the new initiative in 15 months. The company had a technical agreement with Campden BRI of the United Kingdom to get food technologies. “We are going to procure birds directly from farmers that would be directly sent to the processing unit set up for the initiative. This will give better price for farmers irrespective of ups and downs in the market,” added Rao.

 


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