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Wednesday, May 08, 2013

Country Club Eyeing Rs 1,000 Cr Revenue in Next 3 Years
Buy at the CMP of Rs.7.32
Mumbai: Leisure and infrastructure firm Country Club India, that recently forayed into fitness centres, is eyeing Rs 1,000 crore revenue over the next three years and is targeting one million membership in next four years, a top company official has said.

The company had clocked a revenue of Rs 372 crore last year and is expecting a growth of over 15 per cent in FY'13.

"This fiscal year we will be touching about Rs 425-430 crore. Going ahead there will be at least 40-50 per cent growth on topline. In the next 2-3 years, we should be touching Rs 1,000 crore," Country Club Chairman and Managing Director Y Rajeev Reddy told PTI here.

"We will now be growing faster with the fitness centres.
 
We should grow at least 25-30 per cent each year," he added.
 
The company has invested Rs 350 crore to set up 100 fitness centres. A dozen are already operational.
 
"We have opened 12 fitness centres and we will open the rest in another 24 to 30 months," Reddy said.
 
Country Club currently has 3.5 lakh members and is targeting to touch 1 million membership in the next four years, he said.
 
"We will reach one million members in the next four years. Currently we have 3.5 lakh members. We are adding 50,000 members every year. Because of our fitness centres, I think it may double or even triple, going forward," he added.
 
Presently, Country Club India has 55 own properties in India and abroad and has 175 franchised establishments and over 4,000 affiliations all over the world through RCI.
 
Reddy said the company is now looking at London, Malaysia and the US to set up new properties.
 
Presently, Country Club has overall 1,000 rooms, which will be increased to 2,000 rooms in the next two years.
 
"We have about 1,000 rooms. We will double our inventory in the next two years," he said.
 
For its expansion, Reddy said, the company may raise capital through its Dubai operations this calendar year but declined to specify the quantum.

"We are looking at raising capital. Our company in Dubai is doing extremely well. Maybe we will leverage because there we get interest at a cheaper price. We have not fixed the amount. We will raise it definitely," he said.

Country: Outlook