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Nandani Creation to invest Rs 100 mn for expansion

Jul 26, 2021
Nandani Creation to invest Rs 100 mn for expansion

Jaipur, Rajasthan

Nandani Creation Limited - a well-known company for ethnic wear and famous as in its retail section - is planning to expand offline by investing an amount of Rs 100 million.

In the next phase of expansion, this NSE-listed fashion giant is all excited to push up the count of its stores to achieve a total of 20-25 by the end of the year 2023. As per the data, the company has already opened 2 offline stores in the past few months. Nandani Creation Limited has already finalised to expand offline in the key cities of Rajasthan. These cities include Udaipur, Jodhpur, Kota, Sikar, Bhilwara, Ganganagar, Alwar, and Neemrana. Nandani Creation Limited will also be focusing on big cities like Delhi, Pune, Indore, and Gurgaon in the financial year 2022-2023.

The company will also be hiring more than 250 professionals to give a final shape to its expansion plan and also to offer a delightful experience to its customers. The hiring process will be under the domains of sales, marketing, logistics, ground staff, production, designing, and other relevant departments. Also, the company is trying to move to the main board of NSE.

According to Anuj Mundhra, Chairman & MD, Nandani Creation Limited, the company is very excited to bring the local brand of the country to get global recognition. The company is also planning to perform even better with its expansion and to offer the best of fashion products to its customers, he added. He also told that the offline expansion has also taken place in some cities and is under process for many other important cities. Customers can also experience in person the excellent quality that the brand will offer, he said.

According to Mundhra, the company is excited to move to the main board of NSE, which will happen in recent times. He thanked his customers, well-wishers, and stakeholders for their support. Their support has helped the company in becoming a good brand name. The board of directors of the company has also approved the financials for the year 2020-21. According to the financials, the total revenue of the company is 460.9 million, Profit Before Tax (PBT) is Rs 24.1 million, and Profit After Tax (PAT) is Rs 17.8 million. The consolidated Total Revenue, Profit Before Tax (PBT), and Profit After Tax (PAT) are Rs 482.6 million, Rs 25.8 million, Rs 19 million respectively for the FY 2020-21. The company is progressing and is planning to expand further in the future.

Image Source: Press release of "ABB"

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