We are planning to close the year at around 1.1 million sq.ft with a turnover of around Rs 900 crore in FY19, Akash Agarwal, Director, V2 Retail.

“Our expenditure increased this quarter vis-à-vis Q4 last year because we have hired new people as we are planning to open another 40 stores this year and we have increased our marketing cost, which is resulted in our EBITDA margin shrinking a bit,” he said.

“March 2019, we want to touch 100 stores in March 2019,” said Agarwal.

We are hiring more people on back of plans to open more stores this year

and the employee expenses has also gone up, he added.