Retail arm charts Rs 2k-cr growth plan

Written by Tanmay Sar | TNS | Mumbai | Updated: Jun 30 2010, 05:06am hrs
Reliance Retail, a subsidiary of Reliance Industries, plans to invest Rs 2,000 crore to add 3 million sqft retail space in 2010-11, a top company official said on Monday. In 2009-10, the company added only 1 million sq ft retail space.

Reliance Retail currently operates over 4.5 million sqft space across India. The company will focus on expanding Reliance Mart hypermarkets and its speciality retail formats Reliance Trend, Reliance Digital, Reliance Jewels, Reliance Footprint, Reliance Time-Out and Reliance Wellness, he said.

We will add around 30 hypermarkets and 250 speciality stores this financial year.

Around 1.5 million sqft will be added in hypermarkets while 1.5 million sqft will be in speciality stores and Reliance Fresh, said the official.