Hyderabad-based Heritage Foods India Private Limited (HFIPL has received certificate of incorporation of its wholly owned subsidiary grocery retail chain — Heritage Foods Retail Ltd.
The certificate dated December 1, 2008 has been issued from registrar of companies, Andhra Pradesh, said HFIPL in a filing to Bombay Stock Exchange.
Earlier in August, the company had announced its plan to set up about 75 Fresh@ stores, its grocery retail chain, in Hyderabad, Chennai and Bangalore, with an estimated cost of Rs 5 million for each outlet.
HFIPL, apart from the retail division, has dairy and agri divisions in its fold. The company is targeting a revenue of about Rs 8 billion this year. Of this, it expects dairy and agri divisions to contribute Rs 6 billion while the remaining would be from the retail segment, said a company source.