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| Real Estate vs. Retail How responsible is the commercial realty boom in the evolving of the Indian retail industry? Post your views. |
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19-12-07
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Junior Member
Join Date: Oct 2006
Posts: 56
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Bharti retail in talks with realty majors
Bharti Retail, a subsidiary of Bharti Enterprises, on Monday said it was holding discussions with major real estate players for setting up its stores. "As a retailer, it is our job to look for land as we do not have land banks. We are talking to Parsvnath, Unitech, DLF and MGF for land," Rajan Mittal, managing director of Bharti Enterprises, said on the sidelines of a retail conference in New Delhi organised by the Federation of Indian Chambers of Commerce and Industry (FICCI). Mittal also said it is looking at both leasing and buying land and that its first outlet would come up by the first quarter of the next financial year (2008-09). The company had earlier said it plans to open 15 outlets within the next five years and increase its headcount to 65,000 by 2012. Bharti Enterprises has also entered into a partnership with US retail giant Wal-Mart for wholesale retailing earlier this year. The stores are expected to be opened by the second half of 2008. |
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