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Electronic retailing firm HomeShop18, a Network18 group venture, is expecting to almost double its revenue to over Rs 160 crore during this financial year ending March 31, 2013.
The company, which provides shopping services on Internet, TV and via mobile, reported a revenue of around Rs 89 crore during the financial year 2011-12.
“We are expecting to clock a revenue of over Rs 160 crore from these sales,” HomeShop18 CEO Mr Sundeep Malhotra told PTI.
He added the company is bullish on growth in the e-commerce business.
“We have launched an online book store with more than 10 million titles. This alone is expected to contribute Rs 80 crore in sales from HomeShop18.com during this fiscal. As we speak, we are selling an average 3 books per minute,” he said.
Mr Malhotra said that Homsehop18.com is selling an average of 4,500 books and expects to see jump in this business to around 10,000-12,000 books a day.
“We are also expanding our reach this year from delivery in 3,000 towns to 5,000 towns during this fiscal,” he said.
Mr Malhotra added that the company is looking to enhance technical capacities and experience of its web portal and may acquire a company if required.
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