Baazar Style Retail Targets Rs 5,600 Crore Turnover, 600 Stores by FY29; Plans 325 MW Solar Project

Baazar Style Retail Limited has outlined an ambitious growth and expansion roadmap, targeting a turnover of Rs 5,600 crore and a retail network of 600 stores by FY29. The company announced its plans in a press release dated November 14, 2026, highlighting its focus on deeper market penetration, disciplined store expansion, operational efficiency and renewable energy investments.

The company currently operates 293 stores across 10 states, bringing it closer to its next milestone of 300 stores. Its retail network spans West Bengal, Uttar Pradesh, Bihar, Assam, Odisha, Jharkhand, Andhra Pradesh, Tripura, Arunachal Pradesh and Madhya Pradesh. West Bengal remains its largest market.

Baazar Style Retail follows a cluster-based expansion strategy, focusing on geographically connected markets to optimise Logistics, improve brand visibility and enhance operating efficiencies. Approximately 70 per cent of its existing stores are located in Tier-III and Tier-IV markets, reflecting its focus on tapping consumption opportunities in smaller cities. The company is also investing in supply-chain infrastructure, technology and merchandising capabilities to support its expansion plans.

Additionally, the company aims to increase the contribution of private-label products to 65 per cent of revenue. This strategy is expected to support product differentiation and improve margin potential. Its private-label portfolio includes its flagship brand, Square Up.

On the financial front, Baazar Style Retail reported a turnover of Rs 965 crore in H1 FY27. The company expects Q3 FY27 and Q4 FY27 to be its strongest quarters. It has set a turnover target of Rs 2,500 crore for FY27, with revenue guidance of Rs 3,800 crore for FY28 and Rs 5,600 crore for FY29. These figures represent the company's targets and outlook.

As part of its growth strategy and sustainability initiatives, the company is also developing a large-scale Solar power generation project with a proposed capacity of 325 MW through its wholly owned subsidiary, Sunright Private Limited. The project, named Green SHIFT, is currently at the land acquisition stage, with the company in the advanced stages of acquiring approximately 1,000 acres for its development.

The proposed solar project will be implemented in five phases of 65 MW each to enable systematic development and commissioning. The company aims to achieve partial operationalisation within the next 12 months, while the entire 325 MW project is targeted to become operational within the next 24 months. These timelines are subject to completion of land acquisition, necessary approvals and project execution milestones.

The renewable energy initiative is expected to strengthen the company's long-term energy security and potentially improve operational cost efficiencies. According to the company, the project is expected to generate annual electricity cost savings of approximately Rs 30 crore. It also expects to recover the total project cost within four years of the project's full operationalisation.

Commenting on the expansion plans, Shreyans Surana, Managing Director of Baazar Style Retail Limited, said the company has expanded its retail network to 293 stores across 10 states, bringing it closer to the 300-store milestone. He highlighted that the growing presence reflects the company's focus on emerging consumption markets and improving customer accessibility.

Surana added that the cluster-based expansion strategy remains central to the company's growth approach, helping strengthen regional presence, improve supply-chain efficiencies and enhance operating capabilities. The company will continue focusing on expanding its private-label portfolio and improving merchandise offerings alongside its store expansion.

He further stated that the Green SHIFT initiative, through wholly owned subsidiary Sunright Private Limited, is expected to strengthen long-term energy security, support sustainability goals and generate estimated annual electricity cost savings of approximately Rs 30 crore upon implementation. The management remains focused on disciplined store expansion, deeper market penetration and operational capabilities, with the long-term ambition of reaching 600 stores by FY29.

Founded in Kolkata in 2013, Baazar Style Retail Limited operates in India's value fashion retail segment, offering affordable apparel, footwear, home essentials, beauty products and general merchandise through its Style Baazar and Express Baazar formats. The company follows a cluster-based expansion strategy, primarily targeting Tier-II, Tier-III and Tier-IV markets. Its operations are supported by a growing private-label portfolio, warehousing, technology and supply-chain infrastructure.

With a strong presence across Eastern India and expanding operations in other regions, the company aims to strengthen its position in India's organised value fashion retail market. For FY26, Baazar Style Retail reported consolidated total income of Rs 185.26 crore, EBITDA of Rs 26.41 crore and net profit of Rs 4.69 crore.

Disclaimer: The article is for informational purposes only and not investment advice.