Flipkart eyes 4,500 Crore turnover by FY 15

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Mumbai: Flipkart Online Services, which runs the online book retailer Flipkart.com, is eyeing an ambitious Rs 4,500-crore turnover by FY 15 on the back of increased penetration of broadband and the firm's massive expansion plans, a top company official said. Bangalore-headquartered Flipkart, the country's largest online bookstore selling over two-lakh books annually, now plans to extend its product portfolio by launching music, mobiles, consumer electronics and games over the next few months. "We aim to be a USD 1-billion (Rs 4,500-crore) company over the next 3-years. We are growing at a CAGR of 700 per cent in the last two-years and hope to maintain that. We expect revenue to grow multi-fold on the back of our major expansion plan," Flipkart's Founder and CEO, Sachin Bansal, told PTI here. Flipkart offers around 15-20 per cent discount on every book and hence its revenues are mainly volume-driven.
Source: PTI
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