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Spencer Retail to invest up to Rs3,000 crore in 2008-09

Spencer Retail to invest up to Rs3,000 crore in 2008-09
PTI
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First Published: Fri, Mar 14 2008. 06 12 PM IST
Updated: Fri, Mar 14 2008. 06 12 PM IST
Vadodara: RPG group’s Spencer Retail said on 14 March it will invest Rs250 crore to Rs3,000 crore across the country in 2008-09 and will set up 35 stores in Gujarat.
The stores in Gujarat would come up at Surat, Rajkot, Anand, Nadiad, Mehsana, Vapi Ahmedabad and Bulsar, its Group president and CEO (retail) Sumanta Banerjee said today.
Talking to PTI after launching Spencer’s first hyper mart in the city today, Banerjee said that they have been planning to invest about Rs250 crore to Rs3,000 crore in the hypermart format.
Spencer has 400 outlets with 15 hypermarkets, 11 super markets and 374 daily and express stores across 55 cities in the country.
The company will also launch hyper marts in Bihar and Jharkhand, Banerjee said.
RPG group’s retail outlets which include Music World, Books and RPG Cellucom currently stand at 550 in number and is expected to grow to 2,000 stores by 2009 and 5,000 stores by 2011, Banerjee added.
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First Published: Fri, Mar 14 2008. 06 12 PM IST