Pennar to open 6 Build360 retail outlets

Pennar Industries plans to scale up the number of retail outlets for its branded building products. The company's retail stores for building products is called ‘Build360’. The company plans to increase its total store count from 11 to 42 by 2020.

Pennar Industries’ building products have witnessed positive traction in the cities where it enjoys a solid presence. The company will have a total of 17 stores by the end of 2019. In FY20, the company plans to set up 25 additional stores across Karnataka, Tamil Nadu and Telangana.

Pennar Industries has plans to set up 100 ‘Build360’ stores by 2023. The company opened its first outlet in 2017 and operates 11 stores across several southern cities including Vizag, Nellore, Hyderabad and Vijayawada.

Build360 outlets sell in-house products including round and section pipes, sheets and plates special sections, structural steels and accessories such as roofing screws, drilling machines and agricultural tools. The outlet caters to builders, contractors, fabricators and furniture makers.

On Friday, Pennar Industries was trading at Rs. 26.2 per share, down 1.09 per cent on the BSE.