Reliance Retail eyes $ 5 to 5.5 bln turnover by 2011

Bangalore (PTI): Reliance Retail Limited is eyeing a turnover of around $ 5 to 5.5 billion in home durables, including consumer electronics, telecom and home IT across all its formats by 2011, its top official said on Monday. "We are hoping to touch a turnover of around $ 5-5.5 billion in home durables across all our formats by 2011," Ajai Baijal, President & Chief Executive-Reliance Industries (CDIT business told PTI on the sidelines of the launch of its Reliance Digital store here. The current domestic market size of home durables which includes consumer electronics, telecom and home IT is Rs 70,000 crore and "this is growing at 20 per cent per annum", he said. Baijal said the firm was looking at 150 Reliance Digital mega stores across the country including 10 in Karnataka by 2011. Out of these 150 mega stores, 20-25 per cent will be in metros, he said. "We will soon be launching one such store in Hubli and the other in Hyderabad", Baijal said.