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Aditya Birla gr. in talks with Parsvnath for hypermart


Aditya Birla gr. in talks with Parsvnath for hypermart

Last updated: November 13 2007
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  • Aditya Birla gr. in talks with Parsvnath for hypermart

    Aditya Birla group’s retail arm is close to tying up with Delhi-based Parsvnath Developers for a hypermarket and a supermarket in the capital, according to people close to the development. Another retail giant Reliance Retail is also learnt to be in talks with the real estate developer for setting up its hypermarket in Delhi.

    Spokespersons for Aditya Birla group as well as Parsvnath Developers declined comment, but industry sources confirmed the deal may be signed as early as next week. The hypermarket covering over a lakh square feet would be located in the mall at Seelampur metro station in the capital. This may be company’s first hypermarket in the capital. The group already has a hypermarket in Mysore.

    Parsvnath’s another metro mall would house Aditya Birla group’s supermarket. Both the malls are under construction at present and likely to be completed in two-and-a-half years. Parsvnath plans to build 35 malls across the country, including 13 metro malls in Delhi. These metro malls are located on land adjacent to metro stations leased to developers by Delhi Metro Rail Corporation (DMRC) on BOT basis.

    Aditya Birla Group, which announced earlier this year its intention to invest Rs 9,000 crore over three years, has been rolling out retail stores under multiple formats. The stores are being opened under the brand name ‘More’. The company, according to its spokesperson, operates 275 stores across the country. In January, the group acquired ‘Trinethra Super Retail’, which gave it over half a million square feet of selling space and a strong presence in all four southern states.

    The hypermarket scene in India has started hotting up in the country with several big retail players taking the plunge. Reliance retail recently launched its hypermarket, called ‘Reliance hypermart’, in Ahmedabad. Spread over 1,70,000 sqft, this store, accding to a global investment banker, is “larger than any Wal-Mart he has seen anywhere in the world.’’ Reliance plans to launch two more stores, one each in Jamnagar and Delhi. RPG Retail already has a few hypermarkets in the country.
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