Mumbai: Croma, the electronic and consumer durables mega stores chain from the house of Tatas, is expecting a revenue of Rs 720 crore for the year ending March 2009, said a top company official.

"We are expecting a revenue of Rs 720 crore for the year ended March 2009. The 11 months of the year were good for us only the month of November was challenging as we had seen a drop in sales," Croma CEO and Managing Director Ajit Joshi said. He was speaking at the inaugural of company's tenth store unveiled in Mumbai at Pheonix Mills.

The store is spread over 15,000 sq ft and houses wide range of local and global brands across various product categories along with its private brand Croma .

"This year there were lot of things that happened like the market sentiments were low, inflation was high, interest rates were also high and there were terror attacks. We expected lesser sales especially for the month of November. but later, we recovered in the month of December," he said.

The company also feels that the coming year will be good for all of them as things will be normal soon.

"Things are looking positive as the prices of commodities such as copper, iron, steel and aluminium have dropped. Also there is a drop in petrol prices all these things will benefit us. The month of January, February and March look good for all of us," he said.

Joshi also feels that the fluctuating dollar prices have not affected their business as they make their purchases in Indian currency.
Source : PTI