Aditya Birla Retail Limited (ABRL), which operates a chain of supermarkets under the More brand and hypermarkets called More Megastore, plans retail expansion by opening 10 hypermarkets and up to 100 supermarkets in FY ’11.
Elaborating on the expansion plan, Thomas Varghese, CEO, ABRL, said, "The hypermarkets will come up in metros such as Delhi, Bangalore, Hyderabad and Mumbai, while the supermarkets will be rolled out in both metros and Tier-II and III cities."
"We have planned investment worth Rs 16 crore per hypermarket and Rs 40 lakh per supermarket and expect to break even by 2013," he added.
ABRL currently operates 540 supermarkets and six hypermarkets. Varghese said by opening 10 new hypermarkets, ABRL will attain the number two spot in the hypermarket operation business.
— IndiaRetailing Bureau