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9, December 2006 Pragati Maidan, New Delhi.
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Biyani’s Future Group is ramping up its retail presence in West Bengal. The group has silently signed up properties in Howrah, Siliguri, Bardhaman, Kharagpur, Darjeeling and even Asansol to open stores and occupy approximately 290,000 square feet (sq ft) of the state’s retail space. Total investment being envisaged is over Rs 50bn. The move is expected to shore up the group’s overall business from the state to Rs 800 crore by financial year ended June 30, 2008, from an estimated Rs 4.50mn in the current year. Outlining the Future Group’s growth plans, company insiders said the group’s retail outlets in Kolkata would cover 8 lakh sq ft by December 2008 from the present 250,000sq ft, while it would occupy some 29 lakh sq ft of retail space in the state. Incidentally, Pantaloon Retail India is the retail arm of the Future Group. Pantaloon Retail India regional head (eastern zone) Sandeep Marwah said: “West Bengal plays a critical role in our overall scheme of growth. We began our retail journey from here and hence, the state will always occupy an important place in our growth plans.” The group plans to set up six new Pantaloons outlets in the state. Of these, three new stores will come up in Asansol, Siliguri and Batanagar. Incidentally, all three Pantaloons outlets are in Kolkata. The group also intends to open 15 new Big Bazaar outlets by December 2008 from the present three it has in Kolkata and Durgapur. “We have already identified 11 properties for Big Bazaar stores in Kolkata. The balance four will come up at Belur, Bardhaman, Kharagpur and Darjeeling. This apart, we will also open a couple of independent Food Bazaar outlets across the city and Howrah,” the official added. The Future group has also finalised plans to launch its mega-scale seamless mall in the city, central, covering some 350,000 lakh sq ft in calendar 2008.
Date: 17-Mar-2007
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