After consumer finance and real estate, the Indiabulls Group is set to step into the retail business. Indiabulls Wholesale Services Ltd, a subsidiary of listed firm Indiabulls Real Estate Ltd, will set up 30 hypermarkets across as many smaller cities in the country in the next 15 to 18 months with an outlay of Rs 1,500 crore.
The first of these stores is expected to come up by March/April 2008 in one of the three cities the company is targeting simultaneously, confirmed Indiabulls director Gagan Banga.
These large-format stores, spread over 100,000 to 150,000 square feet, will be modelled on the lines of Costco Wholesale stores in the US, which operates the largest membership warehouse club chain in the world.
Read more in The Business Standard article.
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