Yogesh Chander Deveshwar addressed a press conference after the ITC results were announced. Edited excerpts:
On the five-year, Rs14,000 crore investment announced last year
We may be a wee bit behind on that plan. Problems in land acquisition and getting requisite permissions for projects (planned) are becoming a roadblock.
We earlier announced plans to invest Rs1,500 crore in West Bengal. We envisaged setting up experimental farms, food processing units and logistics infrastructure, but so far we have not got the land.
We are not positioned to deal with large real estate. We have some inhibitions about getting into the hypermarket and supermarket arena.
On the agri-retail business
For now, we have decided to play the role of a wholesaler, selling our products through other retailers. We are also looking at the possibility of working with the cart-pushers, branding their carts with the Choupal Fresh brand.
On the hotels division
We are looking at a $2 billion (Rs8,060 crore) investment over seven years. There are more projects coming up.