Swipe Telecom eyes Rs.5 crore monthly turnover in south India

Chennai, July 4 (IANS): Pune-based Swipe Telecom hopes to log around Rs.5 crore turnover per month in the southern markets while the company has pegged an annual turnover target of around Rs.300 crore, said a senior official.

Swipe Telecom eyes Rs.5 crore monthly turnover in south India

Front view of the Tidel Park in Chennai

Swipe Telecom eyes Rs.5 crore monthly turnover in south India, Tidel Park in Chennai (Photo credit: Wikipedia)

Initially we hope to do a turnover of around Rs.5-6 crore per month. For the company the turnover target this year is around Rs.300 crore. The company closed last fiscal with Rs.100 crore turnover, Swipe’s marketing head Kartik Gaur told IANS here.

“Earlier at the press meet here Swipe Telecom founder and CEO Shripal Gandhi said the company is a leading player in north India and would like to replicate that success in the south.”

According to him, the company’s MTV Slash range of products gets good response from the market.

Swipe Telecom has entered the Southern Indian market tying with mobile phone retail chain UniverCell.

According to Kartik, UniverCell has the largest reach in the market in this region.

However there is no bar on Swipe Telecom from retailing the products through other retailers, he said.

Earlier at the press meet here Swipe Telecom founder and CEO Shripal Gandhi said the company is a leading player in north India and would like to replicate that success in the south.

According to him, the Rs.30 crore equity invested by Kalari Capital will be used for expansion purposes and it is the first tranche.