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Future Group to take over Heritage Retail
By: Tupaki Desk | 20 Sep 2016 7:28 AM GMT
Future Group is likely to take over Heritage Foods Retail business soon. Talks between the two companies were in the preliminary stages. Heritage Foods has already confirmed the reports.
Heritage Foods is running Heritage Fresh outlets apart from the sale of dairy products. Although the company has ventured into other businesses, These two are its major revenue sources. Over 110 Heritage Fresh outlets have been established in Hyderabad, Chennai and Bengaluru so far. In the financial year 2014-15, Profits were up to Rs 494 crore. Whereas, A growth rate of 18% was record in fiscal 2015-16 and profit has rises to Rs 582.9 crore. The total revenue generation per annum stood at Rs 2,381 crore.
Every month, About 20 lakh people were busying Heritage Products. Heritage Foods claims business operations were carried out in 3.8 lakh sq mtrs. It has provided employment to 2,689 people.
Talks between Heritage Foods and Future Group boosted the share value. In BSE, Heritage Foods recorded a 10.20 percent growth (Rs 83.45) to reach Rs 901.90.
Heritage Foods is running Heritage Fresh outlets apart from the sale of dairy products. Although the company has ventured into other businesses, These two are its major revenue sources. Over 110 Heritage Fresh outlets have been established in Hyderabad, Chennai and Bengaluru so far. In the financial year 2014-15, Profits were up to Rs 494 crore. Whereas, A growth rate of 18% was record in fiscal 2015-16 and profit has rises to Rs 582.9 crore. The total revenue generation per annum stood at Rs 2,381 crore.
Every month, About 20 lakh people were busying Heritage Products. Heritage Foods claims business operations were carried out in 3.8 lakh sq mtrs. It has provided employment to 2,689 people.
Talks between Heritage Foods and Future Group boosted the share value. In BSE, Heritage Foods recorded a 10.20 percent growth (Rs 83.45) to reach Rs 901.90.
