Nysaa Retail plans to invest ₹200 cr to open 100 more stores across India

PE firm Carpediem Advisors-backed Nysaa Retail, which operates a retail chain under the brand name ‘1-India Family Mart’, plans to open another 100 stores in the next two financial years. The New Delhi-based company will invest about ₹200 crore for the proposed expansion.

At present, Nysaa Retail has 56 mid-sized retail stores in tier-II/III cities across Eastern and Northern India.

The plan is to expand and accumulate about 12 lakh sq ft of retail space by 2020 from the present 4.25 lakh sq ft. Following the opening of the new stores, we expect to record net revenue of about ₹750 crore in 2019, which will further increase to ₹900-1,000 crore by 2020.

About 50 per cent of the total investment required will be raked in through internal accruals and the remaining through debt.

At present, the company has 56 stores across Uttar Pradesh, Bihar, Jharkhand, Chhattisgarh and the North-East.

The company is also looking for strategic acquisitions, for which it already has approvals in place, and is scouting for firms with a “right fit”.