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Havells to open 50 Galaxy stores in India by this fiscal end

Havells India Limited, a USD1.3-billion fast-moving electrical goods company, is looking to increase its market presence in India by adding 50 exclusive Galaxy stores by the end of this financial year, of which 24 will be in south India alone, said joint managing director Anil Gupta.

The company currently has a network of 172 Havells Galaxies across the country, including 60 down south. On Tuesday, Galaxies contribute close to INR500 crore (INR5 billion, USD93 million) to the company’s overall revenue.

"We are seeing a strong domestic growth propelled by the rise in demand for electrical equipment and market shifting towards branded products. South India is an important market for us and it today contributes one-third (INR1,200 crore) of our domestic revenues. We expect south India to grow by 50 percent by the end of this fiscal," he said.