Parsvnath to enter retailing

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Parsvnath Developers, through its subsidiary Parsvnath Retail, has planned to open around five to ten stores across various formats including hypermarkets, convenience stores and food joints, in the current fiscal. For this, the company is in talks with major national and international retail chains.

Confirming this to the media, Pradeep Jain, chairman of Parsvnath Developers Ltd, said: “The retail business is growing phenomenally; we plan to take a new business initiative by entering this sector. We are in talks with various players to understand and start different formats of retail.”

Jain further informed that the company was looking at the hypermarket concept, as also small formats such as convenience stores. Initially, the company will set up these stores in Delhi and Mumbai.

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