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6
Apr
2017

We would be adding 15 to 20 stores every year: Sukumar Srinivas, Shankara Building

Our margin has gone up to 6.5% plus this year. As we go forward, we are striving to see that the margins continuously improve, says the Shankara Building MD In a chat with ET Now,Sukumar Srinivas, MD,Shankara Building, says bulk of the capital raised will go towards meeting costlier working capital debt. Edited excerpts: Congratulations on the listing. How much fresh capital have you raised and how much is going to be used for the debt repayment component? We have raised about Rs 345 crore, out of which about Rs 45 crore is the primary which has come into the company. Bulk of it will go towards costlier working capital debt. What is the current store count and also run rate or store additions moving forward for Shankara? See we have closed the year FY17 with about 107 stores and about three are in the pipeline or work in progress. We would be adding about 15 to 20 stores every year as we go forward.
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