Grofers aims to double sales to Rs 5,000 crore by FY20

Grofers India, an online supermarket major, is planning to double its sales to Rs 5,000 crore by FY'20. It is further gearing up to hit the capital market with an initial public offer (IPO) within the next three years.

Albinder Dhindsa, Co-Founder & CEO, Grofers, said, "We have closed FY'19 with Rs 2,500 crore sales. At present our monthly sales have touched Rs 225 crore, growing at 8.5 per cent month on month. We expect around Rs 5,000 crore sales in the current fiscal." 

Despite raising $60 million recently, Grofers remain focussed on consolidating its presence in 12 cities across India in order to push profitability instead of aggressive geographical expansion.

"We are very close to break even in Delhi and we have managed to break even in Gurgaon and Noida regions. Kolkata numbers are also on the verge of turning positive," Dhindsa stated.

He further added, "By the end of the current financial year, many more cities will turn profitable except for the ones in western and southern India, where Grofers is still in investment mode. At the company level, we will start making profits by 2020- 21."