Mumbai: Retail company Vishal Retail Ltd has capitalized on the real estate slump and successfully renegotiated store rentals for 500,000 sq. ft in the past three months, resulting in savings of Rs30 lakh per month. “On an average, we have been able to renegotiate rents by 20-25% ,” group president Ambeek Khemka said.
—PTI
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Metro Cash and Carry signs MoU with Punjab
Chandigarh: The Punjab government on Sunday signed a memorandum of understanding (MoU) with Metro Cash and Carry India Pvt. Ltd under the mega project policy of the state.
Principal secretary, industries and commerce, S.S. Channy and member of the executive board of directors, Frits van Peski signed the MoU on behalf of Punjab government and Metro in the presence of chief minister Parkash Singh Badal. Badal said that the plan of Metro, is to open six wholesale centres at an investment of Rs900 crore within the next two-three years, thus boosting the agriculture-economy in the state.
—PTI