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13-May2019

Shankara Building Products opens new retail store in Bangalore

Shankara Building Products has started one new retail store in Hoskote, Bangalore measuring 5,000 square feet.

Further, as part of the conscious effort to consolidate operations, the company has decided to close retail stores in the following locations: Rajkot, Surat, Baroda, Nizamabad, Anakapalli and Sindhanoor. Some of these stores, like in Gujarat, are not a part of the company's immediate geographic focus or product category scale up initiatives. The company also does not see possibilities of significant scale up in revenue from these stores in the medium term. These stores combined contributed to 1.32% of retail sales for Q4 FY19.

The net store count after these measures will stand at 129 stores spread over 5,50,917 square feet. 

Shankara Building Products is one the leading organized retailers of home improvement and building products in India based on number of stores, operating under the brand name Shankara Buildpro.


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