Praxis Home Retail Limited — Important, 24-03-2025: Closure of operations

Praxis Home Retail Limited has announced the closure of its stores in Bannerghatta, Bengaluru, and Phoenix Market City, Pune, effective March 31, 2025, due to operational unviability and expiry of lease terms, respectively. These locations contributed ₹4.72 crore (2.15%) and ₹6.04 crore (2.75%) to FY24 revenues. Additionally, the HomeTown store at Growel’s 101 Mall in Mumbai is temporarily closed in light of a regulatory suspension. Management is actively seeking strategic locations for expansion, aiming to enhance market presence and competitiveness. This strategic shift could lead to a positive outlook as the company seeks to optimize its operations.