Fashion is here to expose everything about the glamour industry in the city of miracles – Mumbai. Did Madhur Bhandarkar succeed in pulling the gigantic hype? Read on to find out…

Pantaloon Retail (PRIL) will add almost 4X retail space by FY2011E. ‘Locked-in’ retail space and increasing contribution from same-store sales should allay execution delay fears, while the first-mover advantage will help it fight competition. We expect Home Solutions to turn PAT positive in FY2009E unlocking value, while new initiatives provide support to valuations. Net profit is expected to grow at 61% CAGR during FY2007-11E to Rs4 bn despite slowing same-store sales growth.