The first project in Hyderabad is part of Rs. 500 crore investment that Lulu committed to the state of Telangana
Bengaluru: Multinational conglomerate company Lulu Group is entering Telangana with the opening first Lulu Mall and Lulu Hypermarket in Hyderabad, said Yusuff Ali MA, chairman of Lulu Group to the media during a press conference on Monday. The mall is likely to be inaugurated in August 2023.
The first project in Hyderabad is part of Rs. 500 crore investment that Lulu committed to the state of Telangana.
Lulu Group’s investment in the state is the outcome of several discussions and an MOU is signed with the Government of Telangana during Industry Minister KT Rama Rao’s visit to World Economic Forum last year in Davos, he added.
With an investment of Rs. 300 crore, a 5 lakh sq. ft. mall (earlier known as Manjeera Mall) is re-branding as Lulu Mall. Located at Kukatpally, it will generate employment for more than 2,000 personnel, the press release added.
The mall will host a Lulu Hypermarket, more than 75 local and international brands, five-screen cinema with a seating capacity of 1,400, a food court, and a kid’s entertainment center.
The 200,000 sq. ft. hypermarket will offer fresh produce and grocery as well as home appliances, electronics, mobiles, IT, and lifestyle products under the brand names, Lulu Fashion Store and Lulu Connect.
There will also be sections to support and promote the local Telangana-based agricultural and trade sectors, to further boost the employment opportunity for local youth, he added.
Additionally, Rs. 200 crore will be spent on an export-oriented modern integrated meat processing plant at Chengicherla with a production capacity of 60 tonnes per day. The project will generate employment for more than 2,500 personnel.
Commercial operations are expected to start at the facility in the next 18 months.
Apart from this, new investments of Rs 3,500 crore are to be committed in Telangana over the next 5 years by the Lulu group, the release added. It includes a destination shopping mall in Hyderabad with an investment of Rs 2,000 crore and mini malls on the outskirts of Hyderabad and other cities in the state with an investment outlay of Rs 1,000 crore.
Lulu Group also plans for an agriculture sourcing and logistics hub near the
Hyderabad Airport for facilitating exports and promotion of local Telangana produce across India and the world.
Other plans include a seafood procurement and processing center to support the fishing industry.
Hyderabad is the sixth city after Kochi, Thiruvananthapuram, Bengaluru, Lucknow, and Coimbatore where the group has its presence across the country.
Headquartered in Abu Dhabi, United Arab Emirates, Lulu Group International was founded in 2000 by Kerala-based M. A. Yusuff Ali. It operates a chain of malls, hypermarkets and retail companies across GCC (Gulf Cooperation Council) countries, Egypt, Malaysia, Indonesia and India.
Currently, Lulu Group has more than 250 hypermarkets and 24 shopping malls across 22 nations. The company has been expanding rapidly in India with investments in food processing and retail projects in Ahmedabad, Chennai, Srinagar, Greater Noida and Varanasi.
Lulu Group employs more than 65,000 workforces from 42 different nations and has an annual turnover of $8 billion globally, the release added.
Recently Lulu has launched its first 1.1 lakh sq. ft. hypermarket in Tamil Nadu, at Lakshmi Mills, Pappanaickenpalayam in Coimbatore. Read more about it here.