JOIN USFitness First Group on Tuesday said that it will invest over Rs 160 crore to open 30 new premium fitness clubs in Delhi, Mumbai and Bangalore over the next five years.
The group currently operates seven clubs in India. The expansion drive being funded through internal accruals is expected to raise its membership to over 45,000 and create 1250 new professional fitness roles, company Managing Director Vikram Aditya Bhatia said..
“We project revenues to reach Rs 300 crore, with healthy profit margins as we expand our portfolio. Our total investment of Rs 160 crore over the next five years, funded internally, also brings hi-tech fitness innovation, new insights into the science behind motivation to exercise and development opportunities for employees so we keep pushing the boundaries of fitness in India.”
He said that Fitness First has seen addition of 4-5 clubs across the three major cities every year, with the focus remaining primarily on New Delhi and Mumbai in the medium term of the next three years. Delhi is projected to have the company’s largest portfolio with about 15 clubs, while Mumbai will grow to about 10-12 clubs.
Fitness First India will open both Premier and Platinum tier clubs and will have an equal split between the two categories. The clubs will be in different sizes and formats, based on the unique real estate challenges of India. The Company is looking at opening 12-14 compactclubs, 8-10 mid-sized clubs and about 10 big box clubs over the next 5 years.