A STUDY ON

EFFECTIVENESS OF PROMOTIONAL SCHEMES IN RETAIL

VIDYASAGAR UNIVERSITY

Reported Submitted by
Name: Sumit Basu
Roll: NO:
Institute: Bengal Institute of Business Studies
Registration No:
Company Name: CENTRAL
Industry Mentor: Mr. Subrata Das

This Project is Submitted for the Partial Fulfilment of Masters Of

Business Administration from Vidyasagar University,

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2|Page
 Preface

Marketing plays important role in every aspect of business. In case of fashion and lifestyle retail
industry , there is such a high competition in the market. Summer project in MBA program is
providing job experience. In The summer program, we gain academic knowledge as well as
corporate culture.

The emphasis in the project is providing the study and an insight into Indian RETAIL Business
Scenario. The Summer Project is designed to provide participation of MBA program as on the
job experience. This has given a chance to try and apply the academic knowledge and gain
insight into corporate culture. This helps in developing decision-making abilities and emphasizes
on active participation by the student.

We undertook our Project in CENTRAL, a leading LIFESTYLE & FASION format of the Future
Group. During the training, we had worked on the project “Effectiveness of Promotional
Schemes of CENTRAL”

We gained valuable experience & knowledge during the survey. The Project consists of our
findings customer behaviour relate durable market search after data analysis & then SWOT
analysis & conclusions were drawn and finally recommendations were put forward.

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 Acknowledgement

I am thankful to many people who helped and supported me during the entire Summer Training.

My sincere thanks to Professor Aniruddha Banerjee the Guide of the project, for initiating and
guiding the project with attention and care. He has always been available for me to put me on
track from time to time to bring the project at its present form.

My deep sense of gratitude is due to Mr. Indrajit Bhowmik (Store Manager) and Mr. Subrata Das
(Head Cashier) Of Future Lifestyle & Fashion Limited (CENTRAL). Rajarhat for allowing me to
carry out the Summer Internship and this Project at the organization and to be constantly
available to me for the period, for guidance. He also helped me to see the subject of study in its
proper perspective. Thanks, and appreciation is also due to the officials, employees and
respondents of Future Lifestyle & Fashion Limited (CENTRAL) for their support. I also thank my
Institution and my faculty members without whom this project would have been a distant reality.

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 Declaration

I, Sumit Basu of MBA (2017-19) studying at BENGAL INSTITUTE OF BUSINESS STUDIES,

KOLKATA, solemnly declare that the project work titled- “Effectiveness of Promotional Schemes
of CENTRAL” was carried out by me at Future Lifestyle and Fashion Limited, in the partial
fulfilment of the MBA programme. This programme was undertaken as a part of academic
curriculum according to the university rules and norms and by no commercial interest and
motives.

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 Introduction

Modern business world is full of competition. Every companies are busy to defeat their
competitors by providing those things for which a customer is looking for. Today only way of
success is your continuous efforts towards the growing market needs and in satisfying them. It
is the marketer job to know what the market speaks i.e. the ever-changing needs of the
customer through market research & adopt them fruitfully. It is must for all the companies to
make policies according to the customers and the govt. Today to succeed for any organization
has to target its customer needs, to create a culture in the organization i.e. market conscious &
responsive to customer needs and maintain customer relation to retain them.

Retail industry has become big business in India in recent years, which have a great capacity
but also require extensive customer relationship which built a bond for customer to buy from
there store, visual merchandising is required extensively.

In fashion Retail industry there was a huge change when the giant players like Central, FBB,
Shoppers Stop, Pantaloons came to rule the entire Fashion retail market.

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 Executive Summery

This project report throws light on Effectiveness of Promotional Schemes in Retail.

CENTREL is one of the emerging players in the Indian fashion lifestyle retail industry and offers
a deep insight into the industry.

For completion of this report at CENTREL store i.e. in CENTREL Mall at Rajarhat newtown
Kolkata for conducting survey and fulfilment of questionnaires. A sample size of 100 was selected
due to limitation of time.

Among those who were interviewed consist of housewives, professionals, Business men. Though
the sample size considered was small but it was so varied in order to overcome all the odds.
Random stratified sampling method was considered to be best suited to fulfil the project
hypothesis. A structured questionnaire was constructed in order to measure the responses of
respondents. Primary data collection was done through questionnaire and interviews and
Secondary data collection through company websites and various previous research reports.

Through survey effect of various factors like ambience of store, low prices, quality and service,
convenience came in light and the reason of people choosing CENTREL over other retail outlets
became clear. Respondents gave many suggestions for CENTREL like they should have more
Staff especially during Sales, more Sitting area, improvement on delivery, etc.

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 Company Profile

INTRODUCTION
Since 2004, central has change the lifestyle of people. Central offers the widest and best in
class range in clothes, apparels, shoes, watches, cosmetics, and many more. Part of the Future
Group, Central brings more than 200 brand related to lifestyle under one roof.
We promise to facilitate our customers with a unique and personalized shopping experience.
Our commitment to quality and timeless designs has helped us evolve over the years and it
indeed fills us with pride to be the first choice of many.
Central is known to attract an array of lifestyle seeking customers. Being recognized as India’s
biggest store in lifestyle related products, our products are exclusively designed while keeping
durability and comfort at priority. The key differentiator between Central and others fashion retail
out is the HD concept and other services like Whatsaap shopping, Express alteration, Babycare
room, etc.
From ethnic to formals, branded youth products to western ladies garments we offer everything
to beautify your living space. Since 2004, we’ve grown to over 30 stores across 20 cities.
Keeping pace with the tech-savvy world, we have maintained a strong web presence with
prompt online services.

Future Group makes every effort to delight its customers, tailoring store formats to changing
Indian lifestyles and adapting products and services to their desires

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The group is credited with creating some of India’s most popular retail chains. The hypermarket
chain, Big Bazaar is ranked amongst the top 3 service brands in the country by The Nielsen
Company. Other retail chains include, department store chain, Central, outlet stores chain,
Brand Factory, sportswear chain, Planet Sports, home improvement and consumer durables
chain, Hometown and Ezone, supermarket chain, Food Bazaar, convenience stores chain, KB’s
Conveniently Yours and a growing rural distribution network through Aadhaar.
As modern retail drives fresh demand and consumption in new categories, our strategy is based
on a deep understanding of Indian consumers, the products they want, and making these
products available in every city, in every store format. Future Group offers innovative offerings
at affordable prices tailored to the needs of every Indian household.
Pioneers in the India’s retail space, our formats are household names in more than 240 cities
across the country.
Our stores cover around 17 million square feet of retail space and attract around 300 million
customers each year.

Future Retail Limited focuses on the hypermarket & supermarket business led by formats
like Big Bazaar, Easyday, Food Bazaar, KB’s Conveniently Yours, fbb, Foodhall, Hometown &
Ezone.

Future Lifestyle fashion focuses on the fashion businesses with brands & retail formats like
Central, Brand Factory, Planet Sports, I Am in and aLL.

Future Consumer Ltd is group's integrated food company with Food & FMCG brands & retail
formats like & Aadhar. It also has interest in Food Parks.

Future Enterprises Limited leads the infrastructure and backend services end of the Group

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 Growth of the company
2017
Kolkata- The Future Group's lifestyle and fashion retail outlet Central is looking at a 40
per cent business growth this year to take its revenue to Rs 3,500 crore, a top company
official said here on Saturday.

This year, we target a revenue of Rs 3,500 crore for Central. We are looking at 40 per
cent growth over last year," the group's CEO Kishore Biyani said here.

He said the group's fashion business will be close to Rs 12,000 crore this year.

Central will be investing Rs 300 crore for expanding its reach across cities, he said.

The group is also looking to open 15 stores in the current fiscal year so that the total
stores will be 50 by the end of this year, Biyani said at the launch of a Central store
here which houses Biswa Bangla products.

At present, there are 35 stores in different cities across India.

Speaking on the Goods and Services tax (GST), he said the prices of certain products
would reduce

2016
 Future Group associated with Bajaj Finserv to launch India's first retail EMI card
 Central @ Residency Road, Bangalore was launched with redesigned to provide hassle
free shopping for the customers
 Little Foodhall launched in Gurgaon
 Bazaar Direct tied-up with Oxigen Services to sell the wide assortment of the
franchisees.
 Future Group's personal care brand, Kara Wipes associated with the most prestigious
beauty pageant of the country; fbb Femina Miss India 2016.
 Future Group's People Office team receives ISO 9001: 2015 certification on Jan 5,
2016.

2015
 fbb became style partner of Asia's largest music festival, Sunburn
 Big Bazaar & Ezone made to the Brand Equity's Top Retailer's List
 Future Group partnered with India's fastest growing ayurvedic company, Patanjali
Ayurved.
 The Miss Universe from Columbia, Paulina Vega launched Jealous 21's limited edition
Miss Universe Collection at Taj Land's End in Mumbai
 First Big Bazaar GEN NXT store designed for smart and easy shopping experience
opened in Infinity Mall, Malad, Mumbai
 Big Bazaar announced an exclusive tie-up with a leading mobile wallet company,
MobiKwik

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  The UK based Plymouth City College awarded Future Sharp with a title of 'The Best
International Business Partner'
 T24, Future Group's unique telecom service and loyalty program and of India's first
unpaid GSM mobile service completed 5 eventful years
 The most affordable fashion destination, fbb signed youth style icons Katrina Kaif and
Varun Dhawan as its brand ambassadors
 Bharti Retail joins hands with Future Retail
 Future Group forays into M-Commerce with the T24 Mobile App
 Big Bazaar redefines weekends with the launch of a never-seen-before campaign,
'Crazy Weekend'.
 Future Group launched the new age convenience store format, KB's Conveniently
Yours.

2014
 Future Group partnered with the Fortune 500 company and one of the largest online
shopping destination, Amazon
 Future Group partnered with world's leading customer science company, dunnhumby for
data analytics services
 Future Group announced its strategic tie-up with SAP company hybris, that delivers
OmniCommerce™: state-of-the-art master data management for commerce and unified
commerce processes to its clients.
 India's First Mega Food Park was inaugurated by India's Honourable PM Shri Narendra
Modi at Tumkur Karnataka
 HomeTown underwent a complete makeover with a new tagline, 'The Art of Better
Living', logo and in-store branding.
 Future Group's premium food destination Foodhall launched in Saket, New Delhi.
 Big Bazaar and Ezone were voted as one of the Top 50 Most Trusted Brands in the country
in the Brand Equity Survey 2013 conducted by Nielson. The survey also revealed that Big
Bazaar is the 4th Most Trusted Service Brand of the country
 fbb ties up with India's largest Beauty Pageant Femina Miss India 2014
 A New Generation Big Bazaar, Big Bazaar Family Centre was launched at Alcove in
Kolkata on January 6, 2014

2013
 Foodhall, the premium lifestyle food destination launched in Pune.
 First batch of Future India Fellowship program started with 5 selected fellows across the
country. The fellowship aims to create thought leaders of tomorrow.
 Future Group successfully introduced 'Big Bazaar Direct' an assisted shopping concept
where franchises will sell Big Bazaar products through a catalogue on a 'tablet'.
 Big Bazaar introduced an exciting occasion for shopping 'April Utsav'.
 Future Group officially launched India's largest State of the Art Logistical Distribution
Hub at Nagpur.
 Big Bazaar introduced a unique customer membership program 'Big Bazaar Profit Club.'
 Foodhall, the premium lifestyle food destination launched in New Delhi.
 sFuture Sharp, the Future Group arm that trains and develops the skills of youth opened
its new skill centre in Nashik.

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2012
 On 1st May 2012, the company introduced a new retail initiative – Public Holiday Sale
 Foodhall the premium lifestyle food destination launched its second store in Bengaluru
on 4th May 2012
 Big Bazaar redefined the concept of customer service with the launch of the Rajajinagar
Family Centre in Bengaluru with its unique Seva initiative on 24th February 2012
 Future Sharp Skills Ltd. launched its first skill centre in Kolkata with a vision to train and
provide sustainable livelihood to five lakh youth of West Bengal by 2022
 Pantaloons became the first retailer to introduce a reality hunt as it set out on a
countrywide search for their next Fresh Face
 Pantaloons launched its first store in Ludhiana, Visakhapatnam, Bilaspur
 Future Group started Aadhaar Franchise
 Future Supply Chains Express Logistics business became the fastest profitable Express
Business in India
 Keeping pace with the ongoing trends Fashion@ Big Bazaar decided to reposition itself
as fbb
 Pantaloons joined hands with PAYBACK . Being India's largest and one of the strongest
loyalty programs in Europe, PAYBACK offers were made available to all Pantaloons
customers
 Big Bazaar launched its home delivery services in Mumbai

2011
 Future Group entered elite gourmet retailing with the launch of its first gourmet food
chain Foodhall in Mumbai on 26th May 2011
 Future Innoversity introduced MBA in Supply chain Management
 Pantaloons launched its revamped Green Card Loyalty Programme
 Pantaloons forayed in Coimbatore, Durgapur and Vizag
 Big Bazaar completed 10 glorious years and came up with a new brand identity and
tagline Naye India ka bazaar
 Big Bazaar celebrated its 10 years of existence
 Big Bazaar opened its first store in Himachal Pradesh on 21st May 2011

2010
 Future Value Retail Limited is formed as a specialized subsidiary to spearhead the
group's value retail business through Big Bazaar, Food Bazaar and other formats
 Pantaloons opened its 50th flagship store in New Delhi on 27th November 2010
 Pantaloons embarked on its "next gen" journey with the launch of its new 'avatar' stores
 Big Bazaar introduced Family Centre in Kolkata on 27th March 2010 Big Bazaar
opened its first store in Jalandar and Amravati
 Pantaloons forayed in Allahabad,Bhopal and Aurangabad
 Future Group launched 'The Great Indian Shopping Festival'
 Future Group announced the launch of mobile telephony services under the brand name
T24 on the GSM platform

2009

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  Big Bazaar initiated Maha Annasantarpane program at its stores in South India – a
unique initiative to offer meals to visitors and support local social organizations
 Big Bazaar captured almost one-third share in food and grocery products sold through
modern retail in India
 Pantaloon Retail celebrates its first Shopping Festival across all retail formats in key
Indian cities.

2008
 Big Bazaar dons a new look with a fresh new section, Fashion@Big Bazaar
 Big Bazaar crosses the 100-store mark, marking one of the fastest expansions of the
hypermarket format anywhere in the world.

2007
 Big Bazaar launched its 50th store in Kanpur
 Big Bazaar partnered with Futurebazaar.com to launch India's most popular shopping
portal
 Big Bazaar initiated the Power of One campaign to help raise funds for the Save The
Children India Fund
 Pantaloon Retail wins the International Retailer of the Year award at US-based National
Retail Federation convention in New York, and Emerging Retailer of the Year award at
the World Retail Congress held in Barcelona.

2006
 Big Bazaar launched India's most popular shopping festival: Sabse Sasta Din on 26th
January
 Big Bazaar launched Shakti, India's first credit card program tailored for housewives
 Navaras – the jewellery store launched within Big Bazaar stores
 Home Town, the home building and improvement products retail chain, is launched
along with consumer durables format Ezone and furniture chain Furniture Bazaar.

2005
 Big Bazaar launched a unique shopping program: the Big Bazaar Exchange Offer,
inviting customers to exchange household junk

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Central
Central is an Indian department store chain operated by Future Lifestyle Fashion of Future Group. It
competes with other department store chains such as Lifestyle, Pantaloons and Shoppers Stop.
Central opened its first store in Bangalore in 2004.
As of January 2018, Central operates over 30 outlets in multiple cities in India and plans to add more
stores in the upcoming years. New and existing stores are being upgraded to what it calls HD format
with more premium brands and better shopping experience.

This is the only departmental store which have more than 200 brands under one roof. It covers
almost every state of our country by operating more than 30 outlets.
It comes under Future Lifestyle Fashion Limited (FLFL) which includes all the product related to our
lifestyle.

HOMETOWN
We promise to make homemaking an enjoyable and hassle-free experience with our wide array of
products and services. Our offerings include a slew of living room furniture, dining, bedroom furniture
and furniture essentials, mattresses, modular kitchens, home furnishing, décor, households and bath
luxury. Hometown offers customers a unique, personalised shopping experience, and has grown to
be India’s biggest store in homemaking, renovation and décor.
From classy sofas, tasteful décor items, elegant beds, dining sets to kitchen essentials and
artifacts, it houses everything to build and beautify homes. It was first opened in and currently
operates 35 stores in 17 cities and has also developed partnerships with online retailers.

BIGBAZZAR
Big Bazaar is not just another hypermarket; it caters to every need of your family. Where Big Bazaar
scores over other stores is its value for money proposition for Indian customers.
We guarantee that at Big Bazaar you will definitely get the best products at the best prices. With the
ever-increasing array of in-house brands, it has opened doors in the world of fashion and general
merchandise, including home furnishings, utensils, crockery, cutlery, sports goods and much more at
prices that will surprise you. And this is just the beginning.

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FBB
Fashion at Big Bazaar, India’s style hub is redefining affordable fashion since 2008. From elegant
office wear to daily essentials, from versatile ethnics comfortable home wear to stylish new range of
atheleisure, fbb curates exclusive designs for its audience under it's own private labels. With its
mission to make India Thoda aur stylish, fbb is a popular youthful brand that offers refreshing fashion
trends at pocket friendly prices. The brand has strong presence across all 7the metro cities, mini
metros and also penetrates well in tier II cities. brand that offers refreshing fashion trends at pocket
friendly prices. The brand has strong presence across all 7the metro cities, mini metros and also
penetrates well in tier II cities.

EZONE
Founded in 2002 Ezone is present across India in the form of stand-alone stores as well as at Group
format stores such as Big Bazaar, Hometown and Central. It houses the best of national and
international electronics brands for a range of product categories such as Audio, Accessories,
Communications, Computing, Home Entertainment, Home and Kitchen Appliances, Imaging,
Personal Entertainment & Gaming.
At Ezone, we are committed to offering lifestyle solutions depending on the needs of our customers.
and offer the best price on the latest products, with the right buying assistance. Ezoneonline.in an
online extension of our brick n mortar stores offering multiple convenient payment options including
Cash on Delivery and free home delivery/shipping.
Further, services such as Easy Exchange, Extended Warranty, Instant Finance, Masterclass, Data
Transfer and more ensure we are Together Forever

FOODHALL
Foodhall, A premium lifestyle food superstore, Future Group’s ambitious venture, is a pure
gastronomical delight. Latching on to the love for global cuisines, Foodhall is an answer to every
foodie’s inner epicure. Launched in May 2011, Foodhall is a one-stop destination for a well-travelled
urban consumer who understands the nuances of gourmet cooking. An eye- appealing exotic store
captures the novel concepts from around the world on one platter. With an aesthetic mix of Indian
flavours with the west, this specialty store is a den of discovery - of the finest global foods and
ingredients.
These make shopping at Foodhall an enriching experience. A perfect blend of culinary presentation
and ingredients in Foodhall is at par with any international gourmet food store. It has an extensive
global variety in every category – the offerings range from Tomatillo (Green Tomatoes of Mexico) to
gluten-free breads such as pizza dough, bagels, to range of super- food options such as Greek
Yoghurts, fat-free organic milk, Tofu, gourmet chocolates, oils and vinegars, smoked salmon, mock
meats, specialty cold cuts, teas, fresh truffles and various food delights including a variety of Indian
foods. Currently Foodhall is present in Mumbai, Bengaluru, New Delhi and Gurgaon ingredients in the
best possible combinations.

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 DIRECTORS ON ROLE

Mr. Kishore Biyani ( Chairman & Managing Director)

Mr.Kishore Biyani is the Founder and Group Chief Executive Officer of Future Group, one of India’s
leading consumer goods organizations.
In 2001, Kishore led the creation of Big Bazaar, a uniquely Indian hypermarket network that connects
thousands of small and large manufacturers to millions of customers. Big Bazaar today is counted
among the most trusted brands in the services sector in India.
Since then, a number of retail chains have become part of Future Group. Some of these include,
Central, Brand Factory, EasyDay, Nilgiris, Aadhaar, HomeTown, eZoneonline.in and fabfurnish.com.
Collectively, these are spread over 18.5 million square feet of retailspace in over 240 cities and towns
in India and on various digital platforms. Future Group stores attracted over 400 million customer
visits.
Future Group is also home to a large number of consumer goods brands in the fashion, food, home
and personal care space and these are backed by a presence across the entire value chain, including
design and product development, sourcing of fabric and agricultural produce, manufacturing and
distribution.
Mr. Biyani has also led Future Group in investing and mentoring a number of supply partners and
entrepreneurs as well as joint ventures with British footwear market, Clarks and Europe’s leading
insurer, Generali Group.
Mr. BIyani is a firm believer in the maxim of ‘Rewrite Rules, Retain Values.’ He was born in Mumbai
in 1961. In 2007, he authored the book, ‘It Happened in India.’ Kishore and his wife, Sangita have two
children, Ashni and Avni.

Rakesh Biyani (Joint Managing Director)

Mr. Rakesh Biyani is a Joint Managing Director of Future Retail Limited. He has been associated with
the company for over 20 years.
In his executive role as the Joint Managing Director, Mr. Rakesh Biyani leads the management and
expansion of the company’s flagship formats, Central, Big Bazaar and Food Bazaar. Rakesh is
actively involved in Category Management, Retail stores operations and Information Technology.
Mr.Rakesh has done an Advanced Management Program course from Harvard and is a commerce
graduate from HR College, Bombay.

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Mr. Rajan Bharti Mittal (Non Executive Director)

Mr. Rajan Mittal is a Non-Executive Director. He was appointed as a Non-Executive Director of

our company with effect from April 30, 2016. He is the Vice Chairman of Bharti Enterprises with
interests in retail, telecom, financial services, manufacturing, realty and agri- business.
Born in 1960, Mr. Rajan Mittal joined Bharti Enterprises after graduating from Punjab
University. An alumnus of Harvard Business School, he is actively involved in overseeing the
activities of the Bharti Group at the corporate level. With his rich experience in the marketing
function, he is also involved in many of the new business ventures of the Bharti Group.
Mr. Rajan Mittal has been honored with the “Indian Business Leader of the Year Award 2011”
by Horasis, The Global Visions Community and has also been awarded the “Leonardo
International Prize 2012” by Comitato Leonardo, the Italian Quality Committee.

Ms. Gagan Singh (Independent Director)

Ms. Gagan Singh is our Independent Director. She was appointed as an Independent Director
of our Company with effect from April 30, 2016. She is a Chartered Accountant from The
Institute of Chartered Accountants of India and Cost Accountant from The Institute of Works
Accountants of India. Ms. Gagan Singh is CEO - Business (India) and Chairperson Sri Lanka
Operations of Jones Lang LaSalle (“JLL”).

She joined in May 2007 and achieved various milestones during her stint with JLL. She was
nominated to the World Economic Forum Global Agenda Council on Gender Diversity for two
years. She has over 30 years of experience across apparel, exports and hospitality sectors.
Prior to JLL, she was with Benetton India for over six years as Executive Director and later as
CEO and ensured to make Benetton a powerhouse in the Indian Lifestyle & Apparel industry.
Prior to Benetton, she was COO at DCM International and was responsible for all export
initiatives and also ensured audit compliance of DCM Financial Services.

She has also worked with the Soaltee Group, Nepal as VP-Finance & Planning. She began her
career with Ranbaxy Laboratories Ltd. She is a trustee of the Salaam Baalak Trust, an NGO
and is the founding VP of Youth reach, an NGO.

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Mr. Ravindra Dhariwal (Independent Director)

Mr. Ravindra Dhariwalis our Independent Director. He was appointed as an Independent

Director of our Company with effect from April 30, 2016. He is an MBA from IIM-Calcutta and
also a B.E. from IIT Kanpur. Mr. Dhariwal is a Senior Advisor to TPG India and brings with him
the experience of 39 years of building consumer business all over the World. Just prior to joining
TPG India, Mr. Dhariwal was the Chief Executive Officer of Bennett & Coleman & Co.Ltd.,
India's largest media company, with diversified media platforms including Radio Mirchi, Times
Television Network, The Times of India, the World’s largest selling English newspaper, Times
Internet and Times OOH. Mr. Dhariwal was also the global President of International News
Media Association from 2011-2013. Prior to joining Bennett & Coleman & Co.Ltd, Mr. Dhariwal
worked with PepsiCo for 12 years.
He also led the beverage business in India, Africa and South East Asia. Mr. Dhariwal started his
career with Unilever in India in 1977 and worked for them in India and Australia for over 12
years mostly in the Sales and Marketing management.

Mr. Shailendra Bhandari (Independent Director)

Mr. Shailendra Bhandari is our Independent Director. He was appointed as an Independent
Director of our Company with effect from April 30, 2016. He holds a Masters degree (MBA) in
Management from IIM, Ahmedabad. He is also Bachelor of Arts (Honours) in Economics from
St. Stephen's College in Delhi University. Mr. Shailendra Bhandari is a seasoned finance
professional with 34 years of experience and an impressive track record of accomplishments.
His areas of expertise include Banking, Private Equity and Mutual Funds. Mr. Shailendra
Bhandari was Managing Director & CEO of ING Vysya Bank Ltd from 2009 until January 2015.
Before this Mr. Bhandari was heading the Private Equity arm of Tata Capital Limited. Earlier as
Managing Director and CEO of Centurion Bank of Punjab from 2004 until 2008, he led the
successful turnaround of the Bank.
As Managing Director and CEO of Prudential ICICI Asset Management from 2000 to 2004, he
grew the fund to the largest private sector mutual fund. Before this, he was part of the core team
to set up HDFC Bank in 1994 as Treasurer and Executive Director. Mr. Shailendra Bhandari is
also an ex·Citi banker, where he spent twelve years in several roles in India and overseas.

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Ms. Sridevi Badiga (Independent Director)
Ms. Sridevi Badiga is our Independent Director. She was appointed as an Independent Director
of our Company with effect from April 20, 2017. Ms. Badiga currently runs a cross- border
advisory practice, working closely with a network of family offices and Institutional Investors in
the Middle East. In past, she had worked in Kuwait, Bahrain, Qatar and Dubai primarily in
Investment Banking.
Prior to moving to the GCC, Ms. Sridevi was a part of Gap Inc.'s Corporate Finance team based
in San Francisco, getting retail insight. Earlier, Ms. Badiga was an Investment Banker with JP
Morgan in New York City and Hong Kong focusing on the Power and Infrastructure sector. She
is holding an MBA Degree from the Kellogg School of Management and BBA Degree in
Accounting from Hofstra University in New York. She also has a certificate in patisserie making
from Le Cordon Blue, Paris.

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