Pennar Industries to scale up ‘Build360’ retail outlets for branded building products
Deepthi | Myequity news | Date : 26-03-2019 12:23:00 IST
Pennar Industries Limited (PIL), a leading value-added engineering products and solutions company, today announced its plans to scale up number of retail outlets for its branded building products. The retail stores for building products are branded as ‘Build 360’. The company opened its first outlet in 2017 in Vijaywada and currently operates 11 stores in southern cities of Vizag, Nellore, Tirupati, Anantapuram, Khammam, Rajamundry, Hyderabad and Tadepalligudem; besides 2 stores Vijayawada.
PIL’s branded building products initiative has found a good traction in the cities of its presence, and encouraged by the response, the company is planning to gradually ramp up the business by opening more stores. By the end of FY2019, the company will have 6 more stores, taking the total store count to 17. These stores are in Vanasthalipuram, Kurnool, Kakinada, Guntur, Warangal, Karimnagar. In fiscal 2020, PIL has plans to set up 25 additional stores across Karnataka, Tamil Nadu and Telangana. PIL is working on a 5-year business plan of setting up 100 ‘Build360’ stores by FY2023 and expect to report significant revenue growth in this segment.
Mr. K M Sunil, Vice President - Corporate Strategy, Pennar Industries Limited said, “Organised retailing of ready- to-use steel building products is on the rise. Pennar is known for its innovative and customised value added engineered products and building products retailing is an extension of our capabilities. Our brand ‘Build360’ has been well accepted by the trade intermediaries as well as end-users for the quality and the product variety. We will expand our retail network in a very cost-efficient manner and ensure that the business generates high Return on Capital.”
Currently, ‘Build360’ outlets sell PIL’s inhouse product range such as round and section pipes, sheets and plates special sections, structural steels, and accessories such as roofing screws, drilling and self-tapping screws, UPVC hardware, turbo ventilators and roofing material. Going forward, the stores will house third party products such as TMT steel, paint, cement, wall putty, drill machines, agricultural tools, etc.
“The typical customers for Build360 are builders, contractors, fabricators, furniture makers, lorry / bus body builders, railways contractors, small pre-engineered building customers, etc. For these customers, our stores are a “Go-to’” destination for most of their requirements. And as we interact more with the end-users, more we can cater to their demands by bringing in new products,”
added Mr. Sunil. About Pennar Industries Limited:
Pennar Industries is India’s leading value-added engineering products and solutions company. The Company has a strong presence across growth sectors in India through four business units Railways, Tubes, Industrial Components and Steel Products, and its subsidiary companies, Pennar Engineered Building Systems Limited, Pennar Enviro Limited and Pennar Global Inc.