Future group will add 15 million square feet of retail space by 2014 at an investment of around Rs 4,000 crore, a top official said today.
Chairman and CEO of Future group Kishore Biyani said the expansion would entail in all its retail formats like Pantaloons, Big Bazaar, Food Bazaar and HomeTown.
Inaugurating the country’s largest Home Town store in Kolkata, Biyani said that due to the slump in the real estate market, the Group’s expansion plan has been slightly delayed.
“But things are gradually bouncing back to normal,” Biyani told reporters.
At present, the group operates around 15 million square feet comprising all retail formats.
Biyani said the fund raising mode was yet to be ascertained.
During the period July 2009 to June 2010, the group would add around 4.5 million square feet.
The group would form a legal entity which would be the holding company for all the retail formats like Pantaloon Retail and Home Solutions Retail.
Source: Business Standard