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UniverCell in expansion mode
Corporate Reporter
CHENNAI:
UniverCell, a retail chain engaged in selling mobile phones, accessories and providing mobile connections, is in the final stages of negotiations with strategic investors keen on making investments in the company. It has also charted an ambitious growth plan and is looking at a pan-India presence over the next three years.
D. Sathish Babu, Managing Director, UniverCell, told this correspondent that "We are looking at Rs. 50-60 crore through strategic investments and it will materialise soon."
UniverCell at present has eight outlets in Chennai. Mr. Sathish said the company was looking at opening 20 outlets before March 2007 in Tamil Nadu alone. It would open 300 outlets across the country by 2009.
The company reported a revenue of Rs. 72 crore in 2005-06 and targeted a turnover of Rs. 150 crore in the current financial year.
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