Indiabulls has planned to invest around Rs 1,500 crore over the next one year to expand its retail operations by introducing four new formats.
The planned formats include IB Mart that will retail FMCG, food and grocery and general merchandise. IB Megastore will be the hypermarket format and will retail apparel, home furnishing, consumer electronics and lifestyle products. The other two formats are IB Wholesale Express and IB Wholesale, which will cater to retailers and will focus on selling FMCG , food and grocery, general merchandise and apparel.
The company, by March 2009, plans to roll out around 250 stores including around 150 IB Mart and about 35 IB Megastores. The estimated area of IB Mart will be 5,000 square feet, whereas IB Megastores will cover about 50,000 square feet each.
Earlier, Indiaretailing had reported about the company being in early stages of negotiations with some leading international single-brand retailers who wish to establish pan-India presence.