homebusiness NewsBlue Star MD says festive demand is strong and availability of manpower not an issue
Blue Star MD says festive demand is strong and availability of manpower not an issue
Blue Star’s MD B Thiagarajan, on September 27, said festive season demand is strong in tier III, IV and V cities. He was talking to CNBC-TV18 about the demand trends as the festive season is on. The company recorded strong growth, on all fronts, in Q1FY23 results although the margin is yet to recover to pre-COVID levels.
Blue Star’s Managing Director B Thiagarajan believes the festive demand is strong in tier-III, -IV, and -V towns. Talking to CNBC-TV18, he said the company recorded strong growth on all fronts in the first quarter of FY23, though the margin is yet to recover to pre-COVID levels.
“Festive demand looks extremely good in tier-III, -IV, and -V towns rather than in the big cities. Dealers are stocking up. If compared with the previous year, we are ahead of the pre-COVID levels of demand,” he said.
Talking about business, Thiagarajan said business-to-business (B2B) demand was very significant this year and massive expansions were taking place across the country, including in tier-I and -II towns.
According to him, the availability of manpower is not an issue. “Everyone wants to open the stores before Diwali and, therefore, you have to mobilise manpower, material; while manpower is not the issue, material mobility is,” he said.
The company’s 65 percent of the business is B2B, and the current order book stands at Rs 4,500 crore. Blue Star expects exports to rise from $100 million currently to $300 million in the next three years.
For the entire interview, watch the accompanying video.
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