A month after it raised $627 million from Japanese investor SoftBank, Snapdeal is targeting an annual $3 billion in gross merchandise value (GMV) sales by March 2015.

Snapdeal’s management team had reportedly set a goal to increase GMV to $3 billion from $1 billion in August 2014, reports Business Standard, citing sources. As the festive season boosted sales, the company reportedly touched $2 billion in GMV sales during November this year. 

Recently, Kunal Bahl, Co-Founder and Chief Executive of Snapdeal, told Business Standard that he wasn’t looking at growing the company in terms of millions of acres, as some of his competitors were.

In the e-commerce sector, GMV is a company’s annual run rate, based on the peak sales of its products for a particular month. It cannot be described as actual sales value; the e-commerce sector’s actual sales value is about $4 billion, a fraction of the overall estimated retail pie of $600 billion.

In March this year , rival Flipkart had announced its $1 billion GMV sales. According to the report, many rounds of funding later, sources estimate Flipkart’s GMV at about $3 billion, a figure Snapdeal is trying to catch up with.

Snapdeal came into existence in 2010, as a daily deal platform. Snapdeal was the first established online player in India to shift to the marketplace model, a format in which a company hosts traders on its website to sell products, in 2012. 

Snapdeal sees much promise in automotive products, including cars, two-wheelers and accessories. While it had tie-ups with Mahindra & Mahindra and Hero for automobiles, the company was in talks with other car companies for selling their products online, an official said. The category, pegged at about Rs 15 crore GMV, was expected to be close to Rs 300 crore by the end of this financial year, he added. For this category, the GMV target for the near term is Rs 1,000 crore.

Commenting on developing the categories, Bahl told Business Standard more were on the way. “We paused during Diwali…My view is if a product/service can be bought offline, there is no reason why it can’t be sold online.” Online real estate shopping is another area Snapdeal plans to step into. According to people close to the company, Snapdeal might venture into building houses, too. Like most of its competitors, fashion and electronics remain Snapdeal’s large volume generators.