SRS Group, the company in the business of retail and real estate, has planned to invest around Rs 1,000 crore to expand its retail business.
Of the proposed investment of Rs 1,000 crore, Rs 500 crore shall be invested in the expansion of the retail business, Rs 350 crore in the expansion of the exhibition business (multiplex cinemas), and the balance Rs 150 crore shall be invested in the expansion of the food & beverage (F&B) business over the next three years.
According to the company, it will invest open around 16 new Value Bazaars every month, build and operate around 15 hypermarkets; each in an approximate area of 50,000-80,000 square feet, and strengthen its neighbourhood store format called SRS Daily Bazaar. About 25 Daily Bazaar outlets will be opened in the NCR by the end of this year.
Besides this, the SRS Group aims to retail agricultural products under the brand name SRS Kisaan Bazaar in rural areas. Currently, the company operates 32 SRS Value Bazaars in different cities in northern India.
The company has signed lease agreements for over 50 locations with leading developers that include Omaxe and Chadha Group.
According to the company, the capital will be managed through debts and equities. The company may also consider an initial public offering (IPO) to manage funds to expand the company’s business across verticals that include multiplex, restro-bars, food courts, packaged food, jewellery and fashion wear business
Speaking to media at a conference, Anil Jindal, chairman of the SRS Group, said, “Our strategy to focus on tier II cities has paid rich dividends as our revenues touched Rs. 700 crore during the last fiscal. We aim to further expand our operations, reach out to more B and C class cities and consolidate our position across different verticals in the years to come.”
The company is also planning to invest around Rs 14,000 crore to build one of the biggest five star hotels in India that will cover an area of over 15 acres.
