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Piramyd retail announces Q3 results

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Piramyd Retail Limited, a part of the Ashok Piramal Group & a leading retail player in India, has announced its unaudited financial results for the third quarter ended December 31, 2006. The Company has registered gross sales of Rs 41.2 crores in Q3 of the current financial year, an increase of 42 per cent as compared to Q3 sale of last year.

Commenting on the Q3 Results, Mr. Nandan Piramal, Executive Vice Chairman, Piramyd Retail Limited said, “We are growing consistently in our top line and retail space. In Q3 the sales have grown by 42 per cent and retail space by 67 per cent over Q3 of last year. This quarter we launched new Piramyd stores in Pune and Jaipur. Both the stores have shown positive results from the day 1 of opening. In Supermarket business we launched 5 stores and have signed 26 new properties. We plan to grow aggressively in both the formats”

A fast-growing retailer, the company has prominent presence in the two segments – Lifestyle Retail (Piramyd Megastore) and Food, Home and Personal Care (TruMart). The company’s operations are spread across 456,000 sq ft with 7 Piramyd Megastores and 18 TruMart stores having a pan India presence.

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